Tullow Oil announces record profits
Tullow Oil has today revealed operating profit before exploration activities up 88% to £83.2m (€121.1m).
Tullow Oil is an independent oil and gas, exploration and production group, quoted on the London and Irish Stock Exchanges and a member of the FTSE 250.
The company's turnover was up 74% to £225.3m (€328.1m).
The group more than doubled in size, driven largely by the acquisition of Energy Africa in May.
The Group has interests in over 90 production and exploration licences in 16 countries worldwide focusing on three core areas of Europe, Africa and South Asia.
Dividend per share was up 75% to 1.75p per share.
Looking forward, the group said 2005 would be "a year of consolidation and delivery" from Tullow’s enlarged portfolio of assets.
"The Group has an active programme of development and exploration that will continue to grow and develop the business," a company statement said.
