Block 4 exploration well 4 (B4EW4) encounters oil – testing in progress


The exploration well B4EW4 onshore Oman has drilled to a final total depth of
3,030 metres. Wireline logging operations has been completed and a testing
program has commenced. The well has encountered oil in four separate formations
(Lower Al Bashir, Buah, Khufai and Masirah Bay). The result of the testing
program is expected within three weeks.


B4EW4 was spudded in November 2012 on Block 4. This well was drilled on a dense
grid of high quality 2D seismic data and is located approximately 20 km west of
the Saiwan East oil field. Strong oil shows were recorded during drilling in
the Lower Al Bashair, Buah, Khufai and Masirah Bay formations. PVT oil samples
were acquired during wireline logging operations in the Lower Al Bashir, Buah
and Masirah Bay formations. The testing program is designed to evaluate the
Khufai and Buah reservoirs.

Tethys Oil AB, through its wholly owned subsidiary Tethys Oil Block 3 and 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 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 First North (TETY) in Stockholm. Remium AB is Certified
Adviser.

Website: www.tethysoil.com

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 and Block 56. 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