Tullow Oil to produce results under new rules

Tullow Oil's next set of interim results will be produced under International Financial Reporting Standards (IFRS) rules in accordance with EU regulations.

Previously the group prepared its financial statements under UK Generally Accepted Accounting Principles (UK GAAP).

Tullow will adopt IFRS with effect from January 1, 2005. The group will report under IFRS for the first time at its interim results for the six months ended June 30, 2005, to be announced on September 14.

The first full year results to be reported under IFRS will be for the year ended December 31, 2005.