Tullow - comment

Tullow has confirmed the appointment of the interim CFO. Richard Millar, as CFO and member of the board from January 1st. Although Richard has worked 11 years at Tullow, he is not an industry man, with his background as a Chartered Accountant and EY experience in Audit and assurance. This is a non-news story, the seat was empty and this appointment has filled it. But this is not the focus of Tullow’s board. They have yet to finalise their Kenyan exploration plans and operationally, the focus needs to remain on Jubilee and more importantly TEN operations. Unfortunately, the Petroleum Commission of Ghana no longer report monthly data on production stats for Ghanian fields, including TEN and Jubilee. We have contacted them and are awaiting an update.