PRESS RELEASE

The Ghana National Petroleum Corporation (GNPC) announces that further to our press release on 8^th March 2009 about the discovery of significant new oil and gas accumulation in the offshore Tano Basin, the Tweneboa-1 well was deepened from 3,593 metres to 3,939 metres during which it encountered 4 metres of highly-pressured oil bearing interval.

Results of wireline logs, pressure measurements and sampling show that the encountered oil of 26 degrees API is independent of the shallower accumulation announced on 8^th March 2009.  The oil from this accumulation appears to be heavier than the one that was encountered earlier on, indicating that they are different pools.

GNPC and its partners will conduct the relevant evaluations to determine the size of this discovery and, in that connection, an appraisal programme will soon be submitted to the Minister for Energy in accordance with the provisions of the Petroleum Agreement.

Tullow Oil, Kosmos Energy and Anadarko Petroleum are also today issuing separate press releases regarding this oil and gas discovery in the offshore Deepwater Tano block.

M. O. Boateng

Managing Director

 23^rd March 2009