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New appraisal well yields record flow rates from Block 4 onshore Oman - flows in excess of 3,000 barrels of oil per day. Exploration well on nearby structure ongoing.

2013-12-23T12:16:00 CET

The appraisal program on the recently discovered structure in Block 4 onshore the Sultanate of Oman (B4EW4) continues with another very successful well. The sixth well (B4EW4-6) on the structure, flows in excess of 3,000 BOPD on a 34/64 inch choke from the Lower Buah reservoir section of the Nafun carbonate group. This is the third appraisal well into this reservoir section on the structure, and it was drilled approximately 1,100 meters northeast from the discovery well (B4EW4-1). Apart from yielding excellent flows, this well also confirmed the reservoir extension in the north eastern direction, opening up for continued appraisal drilling further away from the discovery well. The new well is being hooked up to the testing equipment for a long term production test.

The rig has moved to drill an exploration well on the nearby structure (B4EW6), with similar characteristics to the B4EW4 structure.

"We are very happy with the results from this appraisal well. The new well shows excellent flow rates and we have not yet seen where the extension of this reservoir ends. The structure has turned into a major Block 4 production area. We will shortly continue appraisal drilling, but first we hope to expand the current success with a new exploration well," comments Tethys Oil's managing director Magnus Nordin.

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

 

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 NASDAQ OMX Stockholm (TETY) in Stockholm.

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).