Tullow Oil

TLW · Main Market · Energy · mcap £141m · 10.6p

Tullow Oil produces oil and gas, now almost entirely from the Jubilee and TEN fields offshore Ghana. It has sold its Gabon and Kenya assets to focus on Ghana.

Target	Promise	Said	Status
2025
30 Sep 2025	Start Ghana drilling May 2025 and bring two Jubilee wells onstream in Q3 2025	30 Jan 2025	◐ Partly kept
	“Ghana drilling programme with Noble Venturer to commence in May 2025, with two Jubilee wells expected to come onstream in the third quarter of 2025.” Also stated 25 Mar 2025 Result First well onstream by August 2025; second well (J73-P) slipped to around year-end. “We have recommenced drilling and have successfully completed and brought onstream the first of two planned 2025 production wells at Jubilee, with better than expected net pay during drilling.”6 Aug 2025 · 2025 Half Year Results “Drilling on Jubilee recommenced at the start of November, with the second new production well (J73-P) to come onstream around the end of the year.”21 Nov 2025 · November Trading Update
2026
31 Mar 2026	Receive $40m Kenya second instalment in Q1 2026	20 Feb 2026	◐ Partly kept
	“a further $40 million due on ratification of the approved Field Development Plan (FDP) during the first quarter of 2026” Result $36m received in March 2026; final $4m pending transition services. 9 Mar 2026 · Receipt of Tranche B payment for Kenya assets sale