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Full Report

  • You can access all sections of the Annual Report from this page, in pdf format. A single pdf of the whole Annual Report is also available.
  • Full Report (4819kB)

Other documents

Results summary

What we do

  • Gives an overview of Production & Development, and Exploration, as well as challenges for 2008 and outlook.
  • What we do (100kB)

Where we operate

  • 2007 Business summary for areas of operation in Africa, Europe, South Asia and South America.
  • Where we operate (384kB)

Chairman's statement

  • Outlines how Tullow are meeting the challenge, attracting and retaining a quality team, operating responsibly, governing effectively and looking ahead.
  • Chairman's statement (52kB)

Chief Executive's review

  • Details Tullow’s remarkable exploration success, strong portfolio performance and solid financial results. Highlights operational performance for Africa, Europe, South Asia, South America and also how Tullow are adapting to a changing industry, operating safely and with sensitivity and how they are meeting the challenge of transformational change.
  • Chief Executive's review (124kB)

Operations review

Corporate and social responsibility

  • Describes Tullow’s approach to corporate and social responsibility, including hey EHS metrics, health and safety, environmental performance, better reporting, external assurance and outlook for 2008.
  • Corporate and social responsibility (1169kB)

Finance review

  • Details Tullow’s financial performance including strong production and pricing, disciplined cost management, key financial metrics, operating cashflow, exploration write-off, operating profit, derivative instruments, hedge position, gearing, financing costs and interest cover, taxation, dividend, cashflow and capital investment, portfolio management, Hardman Resources acquisition completion, accounting policies, financial strategy and outlook, investor relations, and shareholder analysis.
  • Finance review (83kB)

Risk factors

  • Details Tullow’s clear risk identification, comprehensive risk management systems, targets and responsibility, appropriate policies and procedures, and includes risk descriptions, potential impact and mitigation for strategic risk, financial risk, operational risk and external risks.
  • Risk factors (38kB)

Board of Directors

Corporate governance

  • Details Tullow’s Board performance, including achievements, looking ahead to 2008 and the Corporate governance committee structure, as well as roles and responsibilities for the Audit Committee, Nominations Committee and Remuneration Committee, Board performance and development and planning for the future.
  • Corporate governance (188kB)

Directors' remuneration report

Other statutory information

  • Details results and dividends, subsequent events, Directors, Directors indemnities, additional membership and control disclosures, charitable and political donations, corporate social responsibility, supplier payment policy, Auditors and disclosure of information to auditors and Annual General Meeting.
  • Other statutory information (46kB)

Statement of Directors' responsibilities

Group financial statements

  • Contains the Group Income Statements, Group Balance Sheet, Group Cashflow Statement, Accounting policies and Notes to the Group financial statements.
  • Group financial statements (166kB)

Independent auditors' report

Parent company financial statements

Independent auditors' report

Five year financial summary

Licence interests

  • Contains the licence interests for current exploration, development and production interests.
  • Licence interests (49kB)

Reserves summary

  • Contains the statement for Commercial reserves and contingent resources (unaudited) working interest basis.
  • Reserves summary (36kB)

Shareholder information

  • Details information on Shareholder enquiries, Computershare online enquiry service, Payment of dividends, Share dealing service, Electronic communication, Shareholder security, ShareGift and the Financial Calendar.
  • Shareholder information (28kB)

Additonal shareholder information

  • Details information on Share capital, Restrictions on holding securities, Substantial shareholdings, Control rights under employee share schemes, Material agreements containing ‘change of control’ provisions, Powers of Directors, Appointment and replacement of Directors and Amendment to Company’s articles.
  • Additonal shareholder information (37kB)

Senior management

  • Details senior management of Business support, Exploration, Finance and IT Business Systems and Production and Development.
  • Senior management (22kB)

Contacts

Index

  • Details the index of topics covered in the Report.
  • Index (23kB)

Glossary

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