Corporate Governance

Corporate governance refers to the rules and structure established for the efficient management of a limited liability company’s operations. Ultimately, the purpose of corporate governance is to accommodate the shareholders’ demand for returns and all stakeholders’ need for information regarding the Company and its development.

The Swedish Code of Corporate Governance (the “Code”) stipulates what is good practice on the Swedish stock market for all Swedish limited liability companies listed for trading on a regulated market in Sweden. The Code is based on the “comply or explain” principle, which means that a company can deviate from the Code’s norms if such deviations are satisfactorily explained. Possible deviations will be announced and explained by Tethys Oil in the yearly corporate governance report. Tethys Oil expects that the Code will be adhered to in its entirety and, accordingly, that no deviations will have to be explained.

Corporate Governance report

2019

About Tethys Oil

Tethys Oil is a Swedish oil company with focus on onshore areas with known oil discoveries. The company’s core area is the Sultanate of Oman, where it holds interests in Blocks 3&4, Block 49, Block 56 and Block 58. Tethys Oil has net working interest 2P reserves of 26.1 mmbo and net working interest 2C Contingent Resources of 13.5 mmbo and had an average oil production of 12,832 barrels per day from Blocks 3&4 during 2019. The company’s shares are listed on Nasdaq Stockholm (TETY). Website: www.tethysoil.com