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New boundaries for Block 3 licence area onshore Oman

2016-11-21T08:15:00 CET

Tethys Oil AB together with joint venture partners Mitsui E&P Middle East B.V. and CC Energy Development S.A.L. (Oman branch) (Operator) have, in accordance with the terms of the Exploration and Production Sharing Agreement (EPSA) governing the Blocks 3 and 4 licence area onshore the Sultanate of Oman, agreed new boundaries for the Block 3 licence area with the Ministry of Oil and Gas (MOG).

The new boundaries exclude a 5,480 square kilometres area in the north eastern part of Block 3, which has been returned to the MOG. After the agreed adjustment the Blocks 3 and 4 licence area covers 29,130 square kilometres.

Tethys Oil AB, through its wholly owned subsidiary Tethys Oil Block 3 & 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 Nordinmanaging director, phone +46 8 505 947 00

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This information is information that Tethys Oil AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:15 CET on 21 November 2016.

Tethys Oil AB (publ)

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 18 mmbo and has oil production of about 12,000 barrels per day from Blocks 3 and 4. Tethys Oil also has onshore exploration licences in Lithuania and France and some production in Lithuania. The shares are listed on Nasdaq Stockholm (TETY).

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).