Tullow - comment

Last week Tullow updated the market on the process (or lack of) of their negotiations for the Gas Sales Agreement with the Ghanaian Government.  Tullow remains confident that an agreement will be reached by the end of Q3 (September) at "acceptable commercial terms” and in the meantime, they have extended the interim agreement until then.  Note, the interim agreement uses a price of $2.90/mmbtu, utilising the price for Jubilee gas referenced in the 2017 Jubilee Plan of Development.