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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Tullow Oil plc    TLW   GB0001500809

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Tullow Oil plc : - Directorate Change

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03/14/2012 | 10:11am CET
RNS Number : 2972Z
Tullow Oil PLC
14 March 2012

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News Release

Appointment of Steve Lucas as a Non-executive Director and retirement of 
David Williams

14 March 2012 -Tullow Oil plc (Tullow) is pleased to announce the appointment of Steve Lucas as a Non-executive Director of the Company with immediate effect.  

Steve Lucas was Finance Director at National Grid plc from 2002 to 2010 and has significant expertise in energy and power, infrastructure finance and treasury. Previously, he worked for 11 years at Royal Dutch Shell and for six years at BG Group, latterly as Group Treasurer. Steve is currently a Non-executive Director of the drilling company Transocean Ltd and retired last year as a Non-executive Director of Compass Group plc where he was chairman of the audit committee. It is intended that Steve will be appointed as Chairman of Tullow's audit committee with effect from 16 May 2012.

David Williams will retire from the Board of Tullow and as chairman of the Audit Committee on 16 May 2012 after the Annual General Meeting. David has served as a Director for almost six years and has been a valued member of the remuneration and nominations committees. The Board would like to thank him for his substantial contribution over this period.

There are no further disclosures required under Rule 9.6.13 of the Listing Rules of the UKLA and 6.6.7 of the Listing Rules of the Irish Stock Exchange in respect of Mr Lucas to those disclosed above.

FOR FURTHER INFORMATION CONTACT:

Tullow Oil plc
(+44 20 3249 9000)

Chris Perry - Investor Relations

James Arnold - Investor Relations

George Cazenove - Media Relations

Citigate Dewe Rogerson
(+44 207 638 9571)
Martin Jackson

Kate Lehane

Murray Consultants
(+353 1 498 0300)
Joe Murray

Ed Micheau

Tullow Group Overview

Tullow is a leading independent oil & gas, exploration and production group, quoted on the London, Irish and Ghanaian (symbol: TLW) stock exchanges and is a constituent of the FTSE 100 Index. The Group has interests in over 90 exploration and production licences across 22 countries and focuses on four core areas: Africa, Europe, South Asia and South America.

In Africa, Tullow has production in Ghana, Gabon, Côte d'Ivoire, Mauritania, Congo (Brazzaville) and Equatorial Guinea with two large appraisal and development programmes in Ghana and Uganda. Tullow also has exploration interests in Gabon, Côte d'Ivoire, Liberia, Sierra Leone, Mauritania, Senegal, Tanzania, Madagascar, Namibia, Kenya and Ethiopia.

Tullow's European interests are focused on gas in the UK Southern North Sea where it has significant interests in the Caister-Murdoch System and the Thames area and in the Netherlands where it has offshore gas production, development and exploration opportunities.

In South Asia, Tullow has exploration and production in Bangladesh and exploration interests in Pakistan. In South America, Tullow has exploration interests in Guyana, French Guiana and Suriname.

For further information please refer to our website atwww.tullowoil.com .

Follow Tullow on:

Twitter:www.twitter.com/TullowOilplc

You Tube:www.youtube.com/TullowOilplc

Facebook:www.facebook.com/TullowOilplc

LinkedIn:www.linkedin.com/company/Tullow-Oil


This information is provided by RNS
The company news service from the London Stock Exchange

RNS news service provided by Hemscott Group Limited.

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Financials ($)
Sales 2016 1 419 M
EBIT 2016 252 M
Net income 2016 14,3 M
Debt 2016 4 888 M
Yield 2016 -
P/E ratio 2016 47,55
P/E ratio 2017 20,36
EV / Sales 2016 5,97x
EV / Sales 2017 4,34x
Capitalization 3 577 M
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Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 26
Average target price 3,37 $
Spread / Average Target -14%
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Managers
NameTitle
Aidan Joseph Heavey Chief Executive Officer & Executive Director
Simon Robert Thompson Chairman
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