By Kofi AHOVI Tullow Oil plc has entered into a conditional agreement to acquire the interests of EO Group Limited (EO), consisting of its entire interests offshore Ghana, for a combined share and cash consideration of $305 million, the company announced on its website last week. This acquisition will increase Tullow’s interest in the West Cape Three Points licence offshore Ghana by 3.5% to 26.4% and increase the Group’s interest in the world-class Jubilee Oil field, which Tullow operates, by 1.75% to 36.5%. Tullow is expected to issue 10,137,196 ordinary shares of GHc0.10 each in the share capital of the company to EO to satisfy approximately $216 million of the consideration. The balance, which will include certain working capital adjustments, will be paid in cash. The number of shares has been determined using an average of the closing share prices and exchange rates for the five business days up to and including May 24, 2011. The receipt of Tullow shares as part of the consideratio...