Tethys Oil to repurchase shares

The Annual General Meeting (”AGM”) on 15 May 2019 resolved to authorize the Board of Directors to decide on repurchase[.....]

Annual General Meeting in Tethys Oil

The shareholders of Tethys Oil AB (publ) gathered in Stockholm, Sweden, Wednesday 15 May 2019 for the Annual General Meeting.

Production update April 2019

Tethys Oil’s share of the production, before government take, from Blocks 3&4 onshore the Sultanate of Oman amounted in April 2019 to 388,974 barrels of oil, corresponding to 12,966 barrels of oil per day.

First quarter report – 31 March 2019

First quarter 2019 (fourth quarter 2018) · Production from Blocks 3&4, Oman, amounted to 11,901 bopd (11,898 bopd) · Revenue and other income of MUSD 32.7 (MUSD 44.4) · EBITDA of MUSD 17.2 (MUSD 30.8) · Net result of MUSD 6.4 (MUSD 19.9) · Earnings per share amounted to USD 0.19 (USD 0.58) · Exploration well Masarrah-1 on Blocks 3&4 resulted in a new oil discovery · Additional capacity for gas separation installed at Ulfa EPF after initial start-up issues

Presentation of Tethys Oil’s first quarter 2019

Tethys Oil will publish the interim report for the first quarter of 2019 on Tuesday 7 May 2019 at approximately 7:30 CET. The Company has scheduled a webcasted conference call the same day at 10.00 CET. Magnus Nordin, Managing Director, and Jesper Alm, CFO, will present the report and recent developments.

Annual General Meeting in Tethys Oil

The shareholders of Tethys Oil AB (publ) (the “Company”) are hereby invited to attend the Annual General Meeting on Wednesday, May 15, 2019, at 3.00 p.m. CEST at Grand Hôtel, Södra Blasieholmshamnen 8, in Stockholm.

Production update March 2019

Tethys Oil’s share of the production, before government take, from Blocks 3&4 onshore the Sultanate of Oman amounted in March 2019 to 364,094 barrels of oil, corresponding to 11,745 barrels of oil per day.

Tethys Oil’s Annual Report and Sustainability Report 2018

Tethys Oil publishes its Annual Report for 2018, including corporate governance report and report on payments to authorities, and Sustainability Report 2018. The reports are now available on the corporate website, www.tethysoil.com.

Tethys Oil announces management changes

Tethys Oil is pleased to announce the appointment of William Holland as Chief Financial Officer (“CFO”) following the decision by Jesper Alm to step down. Mr Holland will join the Company on 1 May 2019 and will work alongside Mr Alm until 1 June 2019, and thereafter Mr Holland will assume the full responsibilities of group CFO. Mr Alm will remain available to the Company until the 30 September 2019.

Production update February 2019

Tethys Oil’s share of the production, before government take, from Blocks 3&4 onshore the Sultanate of Oman amounted in February 2019 to 326,656 barrels of oil, corresponding to 11,666 barrels of oil per day.

Production update January 2019

Tethys Oil’s share of the production, before government take, from Blocks 3&4 onshore the Sultanate of Oman amounted in January 2019 to 380,340 barrels of oil, corresponding to 12,269 barrels of oil per day. 

Fourth quarter and year-end report – 31 December 2018

Fourth quarter 2018 (third quarter 2018) · Production from Blocks 3&4, Oman, amounted to 11,898 bopd (11,857 bopd) · Revenue and other income of MUSD 44.4 (MUSD 42.3) · EBITDA of MUSD 30.8 (MUSD 30.1) · Net result of MUSD 19.9 (MUSD 18.2) · Earnings per share amounted to USD 0.58 (USD 0.53) · Blocks 3&4: Appraisal programme of 2017 discoveries continued with three wells drilled · Block 49: 253 km2 of 3D and 299 km of 2D seismic acquired Reserves and Contingent Resources · 2P internal reserve replacement ratio of 177 percent · Year-end 2018 2P Reserves of 25,357 mbo and 2C Contingent Resources of 12,533 mbo Dividend · The board of directors proposes an ordinary dividend of SEK 2.00 per share (2018: SEK 2.00), to be paid in two instalments of SEK 1.00 per share each in May and November 2019 · The board of directors proposes an extraordinary distribution of SEK 6.00 by way of a mandatory share redemption programme following the 2019 AGM (2018: SEK 4.00)

Tethys Oil 2018 reserves development – 2P reserve replacement ratio 177 percent

Tethys Oil’s net working interest Reserves in Blocks 3&4 Oman as per 31 December 2018 amount to 25,357 thousand barrels of oil (“mbo”) of proven and probable Reserves (2P). The 2P reserve replacement ratio amounts to 177 percent. In addition, Tethys Oil's net working interest resources oil base in Oman amounts to 12,533 mbo of 2C Contingent Resources. The Company’s 2018 and 2017 year-end Reserves reports were audited by ERC Equipoise Limited (“ERCE”) as independent qualified Reserves evaluator.

Presentation of Tethys Oil’s fourth quarter 2018

Tethys Oil will publish the interim report for the fourth quarter of 2018 on Tuesday 12 February 2019 at approximately 7:30 CET. The Company has scheduled a webcasted conference call the same day at 10.00 CET. Magnus Nordin, Managing Director, and Jesper Alm, CFO, will present the report and recent developments.

Tethys Oil AB: Partner pre-emption rights exercised in Block 53 transaction

On 23 December 2018, Tethys Oil announced that it had entered into an agreement to acquire a two percent participating interest in Block 53 onshore Oman. The closing of the acquisition was subject to government approval and the waiver of partner pre-emption rights. Tethys Oil has been informed by the seller that partner pre-emption rights have been exercised, and Tethys Oil will as a result not be able to complete the transaction.

Tethys Oil AB: Production update December 2018

Tethys Oil's share of the production, before government take, from Blocks 3&4 onshore the Sultanate of Oman amounted in December 2018 to 369,401 barrels of oil, corresponding to 11,916 barrels of oil per day.

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 25 mmbo and 2C Contingent Resources of 13 mmbo and had an average oil production of 11,767 barrels per day from Blocks 3&4 during 2018. Tethys Oil also has onshore exploration licences in Lithuania and France and some production in Lithuania. The shares are listed on Nasdaq Stockholm (TETY).