2013 Investor Forum

2013 - Investor Forum TEN development - progressing to sanction TULLOW On PoD submitted November 2012 • • • • Discussions with GoG progressing towards approval FPSO and Subsea award decisions being finalised West Leo rig contract extended to 5 years First oil still targeted 32-36 months after PoD approval Development Optimisation • Base plan of c.23 injection and production wells Initial development recovers c.300mmboe (80% oil) . • • Optimised for value at ~80,000bopd plateau rate Flexible design to manage potential future expansion Gross development capex of ~$4.5bn + leased FPSO Tullow net capex of ~$1.5bn pre-first oil Slide 14

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