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Block 4 exploration well 4 (B4EW4) encounters oil - testing in progress

2013-02-12T08:07:00 CET

The exploration well B4EW4 onshore Oman has drilled to a final total depth of 3,030 metres. Wireline logging operations has been completed and a testing program has commenced. The well has encountered oil in four separate formations (Lower Al Bashir, Buah, Khufai and Masirah Bay). The result of the testing program is expected within three weeks.

B4EW4 was spudded in November 2012 on Block 4. This well was drilled on a dense grid of high quality 2D seismic data and is located approximately 20 km west of the Saiwan East oil field. Strong oil shows were recorded during drilling in the Lower Al Bashair, Buah, Khufai and Masirah Bay formations. PVT oil samples were acquired during wireline logging operations in the Lower Al Bashir, Buah and Masirah Bay formations. The testing program is designed to evaluate the Khufai and Buah reservoirs.

Tethys Oil AB, through its wholly owned subsidiary Tethys Oil Block 3 and 4 Ltd, has a 30 per cent interest in Blocks 3 and 4. Partners are Mitsui E&P Middle East B.V. with 20 per cent and the operator CC Energy Development S.A.L. (Oman branch) holding the remaining 50 per cent.

 

For further information, please contact

Magnus Nordin, Managing Director, phone +46 70 576 6555; magnus@tethysoil.com

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Tethys Oil AB (publ)

Tethys Oil is a Swedish energy company focused on exploration and production of oil and natural gas. Tethys Oil's core area is Oman, where the company is one of the largest onshore oil and gas concession holders. Tethys Oil also has exploration and production assets onshore France, Lithuania and Sweden. The shares are listed on First North (TETY) in Stockholm. Remium AB is Certified Adviser.

Website: www.tethysoil.com

Bilagor

Om Tethys Oil

Tethys Oil är ett svenskt oljebolag med fokus på onshoreområden med kända oljefynd. Tethys kärnområde är Oman, där bolaget har 22 miljoner fat i bevisade och sannolika oljereserver och 17 miljoner fat i betingade resurser 2C. Under 2017 hade Tethys Oil en genomsnittlig oljeproduktion om 12 162 fat om dagen från Block 3&4. Tethys Oil har också prospekteringstillgångar onshore Frankrike och Litauen och viss produktion i Litauen. Aktierna är noterade på Nasdaq Stockholm (TETY).