API

Measure of crude oil quality

AGM

Annual General Meeting

bbl

Barrel

bcf

Billion cubic feet

boe

Barrels of oil equivalent

boepd

Barrels of oil equivalent per day

bopd

Barrels of oil per day

bwpd

Barrels of water per day

CMS

Caister Murdoch System

CMS III

A group development of five satellite fields linked to CMS

CSR

Corporate Social Responsibility

CMT

Crisis Management Team

CNG

Compressed Natural Gas

D&PL

Development and Production Lease

DRC

Democratic Republic of Congo

DSBP

Deferred Share Bonus Plan

E&A

Exploration and Appraisal

EBITDA

Earnings Before Interest, Tax, Depreciation and Amortisation

EHS

Environment, Health and Safety

EPS

Early Production System

ERC

Energy Resource Consultants

ESOS

Executive Share Option Scheme

EUETS

European Union Emission Trading Scheme

FEED

Front End Engineering and Design

FPSO

Floating Production Storage and Offtake vessel

FRS

Financial Reporting Standard

FTSE 100

Equity index whose constituents are the 100 largest UK listed companies by market capitalisation

FTSE 250

Equity index whose constituents are the next 250 largest UK listed companies after the top 100

GNPC
Group

Ghana National Petroleum Corporation Group Company and its subsidiary undertakings

H&S

Health and Safety

HIPO

High Potential Incident

HR

Human Resources

IAS

International Accounting Standard

IFC

International Finance Corporation

IFRIC

International Financial Reporting Interpretations Committee

IFRS

International Financial Reporting Standards

IMS

Information Management System

ISO

International Organization for Standardization

km

Kilometres

KPI

Key Performance Indicator

LIBOR

London Interbank Offered Rate

LNG

Liquid Natural Gas

LTI

Lost Time Incident

LTIFR

LTI Frequency Rate measured in LTIs per million hours worked

mmbbl

Million barrels

mmboe

Million barrels of oil equivalent

mmscfd

Million standard cubic feet per day

OGP

Oil & Gas Producers

P&D

Production and Development

PAYE

Pay As You Earn

PRT

Petroleum Revenue Tax

PSC

Production Sharing Contract

PSP

Performance Share Plan

ROW

Rest of the World

SCT

Supplementary Corporation Tax

SIP

Share Incentive Plan

SMT

Senior Management Team

sq km

Square kilometres

tcf

Trillion cubic feet

toes

Tullow Oil Environmental Standards

TRI

Total Recordable Incidents

TRIFR

Total Recordable Incident Frequency Rate

TSR

Total Shareholder Return

UK GAAP

UK Generally Accepted Accounting Principles

VAT

Value Added Tax

WAEP

Weighted Average Exercise Price