Eastern exploration well suspended for further study


The exploration well LE-1 in the eastern part of Block 4 onshore the Sultanate
of Oman has been suspended to allow for further studies in the future. An oil
sample has been recovered from the well, indicating the presence of medium
light oil, which suggests that a petroleum system may be active also in the
eastern region of Block 4.


With no previous well data in this area, LE-1 has given important new data of
the area’s lithology which will necessitate a reinterpretation of the seismic
data previously collected.

The well has been suspended to allow for further study in the future. Once the
seismic reinterpretation is completed the work programme for the area will be
assessed also for other well locations.

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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The information in this press release has been made public by the Company in
accordance with the Securities Market Act and/or the Financial Instruments
Trading Act.

 

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 and Lithuania. The shares are
listed on Nasdaq Stockholm (TETY).

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