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Tullow Oil PLC TLW Issue of Shares



  Tullow Oil PLC (TLW) - Issue of Shares

RNS Number : 6050R
Tullow Oil PLC
20 November 2012
 

Tullow Oil plc
20 November 2012

 

                  Tullow Oil plc ("Tullow" or "the Company")

Tullow announces that on 19 November 2012 it agreed to issue 224,955 ordinary
shares of 10 pence each in the share capital of the Company (the "Shares") to
Petrolin Trading Limited ("Petrolin") in settlement of a debt obligation of
its subsidiary, Tullow Gabon Limited, to pay Petrolin US$5 million.  Tullow
Gabon Limited had previously agreed to pay Petrolin such amount in
consideration for the termination of certain crude oil marketing agreements. 
Under these agreements, Petrolin had the right to market part of Tullow's West
Africa crude oil production.

Application will be made to the UK Listing Authority and the Irish Stock
Exchange for the Shares to be admitted to the official list of the UK Listing
Authority and the official list of the Irish Stock Exchange and application
will be made to the London Stock Exchange and the Irish Stock Exchange for the
Shares to be admitted to trading on their respective markets.  Such admissions
are expected to occur on 26 November 2012.

 

For further information contact:

 

Chris Perry - Tullow Oil plc                         0203 249 9000

Graham Martin - Tullow Oil plc                 0203 249 9000

                     This information is provided by RNS
           The company news service from the London Stock Exchange
 
END
 
 
IOEEALFEASLAFFF -0- Nov/20/2012 14:55 GMT
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