Tullow Oil is confident the Dutch-based International Arbitration Court will overturn a ruling by the Ugandan Tax Appeal Tribunal saying it owes a further $260m in unpaid tax regarding the 2012 farm-out of assets.

Tullow Oil has won a ruling at London’s Court of Appeal allowing it to keep the majority of a $346m (€257m) tax payment relating to a Ugandan asset deal completed four years ago.

FIRST-half revenue at Irish oil and gas exploration company, Tullow Oil, is expected to amount to around $495 million (€395m), when the company formally reports its interim figures next month.

TULLOW Oil’s management is still viewing a shareholder vote on Monday as the next key date in its attempts to buy out its partner in two significant assets in Uganda, despite press speculation that the country’s government has indicated it is not in favour of the deal going ahead.