Tethys Oil – a growing oil company
Tethys Oil is a Swedish oil company with focus on core area the Sultanate of Oman. Tethys Oil has net working interest 2P reserves of 26.9 mmbo and net working interest 2C Contingent Resources of 13.9 mmbo and had an average oil production of 11,336 bopd during 2020.
11,509 barrels of oil per day
Tethys Oil’s share of the production, before government take, from Blocks 3&4 onshore the Sultanate of Oman amounted in September 2021 to 345,273 barrels of oil, corresponding to 11,509 barrels of oil per day. Oil production in Oman is currently subject to production limitations under the OPEC+ agreement. As a consequence, production from Blocks 3&4 is subject to limitations but is likely to fluctuate on a monthly basis.
Extraordinary distribution of SEK 2/share
The AGM 2021 resolved on a share split and mandatory share redemption. In brief, one existing Share has been split into two, of which one is a so-called Redemption Share. Each Redemption Share will automatically be redeemed for a cash payment of SEK two (2.00). After the redemption procedure, each shareholder will own the same number of Shares as before.