7th Apr 2006 14:00
Tullow Oil PLC07 April 2006 Tullow Oil plc ('Tullow' or 'the Company') Director Dealings The Company announces details of the following exercises of options and relatedsales of ordinary shares of 10p each ('Ordinary Shares') by certain directors ofthe Company: A. Matthew O'Donoghue, General Manager Projects and an executive director of Tullow, held options over 490,360 Ordinary Shares which were granted on 11 April 1996 under the terms of the Tullow 1988 Executive Share Option Scheme and were exercisable up to 10 April 2006. These options had an exercise price of EUR 1.0031 per Ordinary Share. On 6 April 2006, Mr O'Donoghue exercised these 490,360 options and sold 256,860 Ordinary Shares at 343.4p per share to fund the exercise price, tax and associated transaction costs payable as a consequence of the exercise and sale. The balance of 233,500 Ordinary Shares (representing 0.04% per cent of the Company's issued share capital) have been retained by Mr O'Donoghue. Following these transactions, Mr O'Donoghue now holds 1,824,357 Ordinary Shares representing 0.28% per cent of the Company's issued share capital. B. 6 April 2006, Patrick Plunkett, non-executive Chairman exercised an option granted on 4 September 2000 over 200,000 Ordinary Shares at an exercise price of 63p per Ordinary Share and sold these Ordinary Shares at 343.4p. Following these transactions, Mr Plunkett continues to hold 1,229,326 Ordinary Shares representing 0.19 per cent of the Company's issued share capital. The exercise and sale of the above options and Ordinary Shares was executed inthe UK and this notification relates to transactions notified in accordance withDisclosure Rule 3.1.4R(1)(a) and Disclosure Rule 3.1.4(R)(1)(b) a disclosuremade in accordance with section 324 (as extended by section 328) of theCompanies Act 1985. Inquiries: Tom HickeyTullow Oil plc+ 44 208 996 10007 April, 2006 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Tullow Oil