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Board committees

Remuneration committee

The board has established a remuneration committee. The work has mainly focused on establishing principles for remuneration to management, to monitor and evaluate variable remuneration and the application of the guidelines for remuneration as well as to construct and propose an incentive programme to the AGM 2016. The remuneration committee reports to the board, normally in conjunction with the following board meeting.

The remuneration committee consist of Per Seime (chairman), Dennis Harlin and Katherine H. Støvring.

Audit committee

The board has established an audit committee. The work has mainly focused on supervising the Company’s financial reporting and assessing the efficiency of the Company’s financial internal controls, with the primary objective of providing support to the board in the decision making processes regarding such matters. The audit committee also regularly liaises with the Group’s statutory auditor as part of the annual audit process and reviews the audit fees and the auditor’s independence and impartiality. The Audit committee reports to the board, normally in conjunction with the following board meeting.

The audit committee consist of Geoff Turbott (chairman), Per Seime and Katherine H. Støvring.

 

About Tethys Oil

Tethys Oil is a mid sized Swedish oil company with focus on onshore areas with known oil discoveries. Tethys Oil's core area is Oman, where the company holds 2P reserves of 21.4 mmbo and has an oil production of about 12,000 barrels per day from Blocks 3&4. Tethys Oil also has onshore exploration licences in Lithuania and France and some production in Lithuania. The head office is located in Stockholm and the company's shares are listed on Nasdaq Stockholm (TETY).