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Tullow Oil CEO Paul McDade Resigns - Quick Facts

Tullow Oil plc (TLW.L) said that Paul McDade, Chief Executive Officer, and Angus McCoss, Exploration Director, have resigned from the Board of the company by mutual agreement and with immediate effect. The company said it has initiated a process to find a new Group Chief Executive.

The company noted that it has appointed Dorothy Thompson as Executive Chair on a temporary basis. Mark MacFarlane, Executive Vice-President, East Africa and Non-Operated, has been appointed as Chief Operating Officer in a non-Board role.

Les Wood continues as an Executive Director and Chief Financial Officer.

The Group expects 2019 full year net production to average 87,000 bopd.

The company anticipates 2020 Group production to be average between 70,000 and 80,000 bopd. Group production for the following three years is expected to average around 70,000 bopd.

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