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Tullow credit facilities unchanged following six-monthly RBL redetermination

Tullow Oil plc (Tullow) and its lending banks have completed the routine six-monthly Reserve Based Lend (RBL) redetermination process and available debt capacity remains unchanged at US$3.7 billion.

This demonstrates the continued support of Tullow’s lending banks during this period of low oil prices and the high quality of Tullow’s asset portfolio.

As of 30 September 2015, the Group has cash and undrawn credit facilities amounting to US$2.1 billion of headroom with no near term maturities. This successful outcome builds on the US$450 million capital increase and covenant renegotiation achieved in March 2015.

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