Tullow Oil Plc · LSE:TLW
Tullow Oil — Merger or Acquisition (April 2020)
6 slides from Tullow Oil's merger presentation, April 2020
Slide 1: Tullow Oil plc: Sale of Uganda interests
Slide 2: Disclaimer
. . TULLOW Disclaimer Ot THIS PRESENTATION IS NOT A CIRCULAR OR PROSPECTUS OR EQUIVALENT DOCUMENT AND PROSPECTIVE INVESTORS SHOULD NOT MAKE ANY INVESTMENT DECISION ON THE BASIS OF ITS CONTENTS. A CIRCULAR IN RELATION TO THE TRANSACTION WILL BE PUBLISHED IN DUE COURSE. NOTHING IN THIS PRESENTATION CO
Slide 3: Sale of Uganda interests to Total
| Sale of Uganda interests to Total Key terms Equity being sold Effective date Cash consideration Contingent payments Tax Completion target * Tullow’s entire 33.33% interests in the Block 1, 1A, 2 & 3A licences and production sharing agreements * Tullow’s interests in the proposed East African Crude
Slide 4: Asset sale aligned to Tullow's strategy
TULLOW Asset sale aligned to Tullow’s strategy Ot * Delivering against ambitions laid out at Full Year Results - First step in raising >$1 billion of proceeds * Proactive portfolio management strategy - Fair value achieved in a challenging external environment * Cash is key to managing liquidity - P
Slide 5: Actively managing our liquidity
Actively managing our liquidity * Transaction will materially strengthen financial position ° Upfront cash consideration will reduce net debt, improve liquidity and reduce ongoing finance costs * Further portfolio management to achieve in excess of $1bn billion proceeds Capital structure — current p
Slide 6: Tullow Oil plc
TULLOW Tullow Oil pic 9 Chiswick Park, 566 Chiswick High Road London W4 5XT United Kingdom Tel: +44 (0)20 3249 9000 Fax: +44 (0)20 3249 8801 Email: ir@tullowoil.com. Web: www.tullowoil.com