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Reserves and Contingent Resources

Oman, Reservs and Contingent Resources, Dec 31, 2017

Tethys Oil’s net working interest Reserves in Blocks 3&4 Oman as per 31 December 2017 amount to 15,559 thousand barrels of oil (“mbo”) of proven Reserves (1P), 22,044 mbo of proven and probable Reserves (2P) and 32,414 mbo of proven, probable and possible Reserves (3P). Tethys Oil’s net working interest resources oil base in Oman amounts to 10,129 mbo of 1C, 17,264 mbo of 2C and 27,328 mbo of 3C Contingent Resources.

Blocks 3&4, Oman
(audited) (mbo)
Total 31 Dec 201715,55922,04432,414
Farha South Field9,20611,75616,061
Shahd Field3,4415,6348,856
Saiwan East Field6311,2501,805
New areas2,2813,4055,692

Contingent Resources Blocks 3&4 (audited) (mbo)1C2C3C
Total 31 Dec 201710,12917,26427,328

The Company’s 2017 year-end Reserves reports were prepared by ERC Equipoise Limited. The audit of the Reserves in Oman has been conducted using 2007 Petroleum Resources Management System (PRMS), sponsored by the Society of Petroleum Engineers (SPE), World Petroleum Council (WPC), American Association of Petroleum Geologists (AAPG) and Society of Petroleum Evaluation Engineers (SPEE).


Related information

Calculation of reserves

About Tethys Oil

Tethys Oil is a 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 22 mmbo and 2C Contingent Resources of 17 mmbo and had an average oil production of 12,162 barrels per day from Blocks 3&4 during 2017. Tethys Oil also has onshore exploration licences in Lithuania and France and some production in Lithuania. The shares are listed on Nasdaq Stockholm (TETY).