Tullow Oil which recently acquired £200 million of gas producing assets in the North Sea, has confirmed it is to seek High Court approval to re-register the company in the UK. This, the company said will be effected by a scheme of arrangement. Under the scheme, Tullow shareholders will receive shares in NewCo, a new company incorporated in England and Wales which will become the holding company for the group, on the basis of one NewCo share for each Tullow share held.