Lithuanian drilling programme commences


A three well drilling programme on the Raseiniai licence onshore
Lithuania has commenced. The first well, the Bedugnis-1 well, is planned
to be drilled vertically to a total measured depth of 1,100 meters.
Drilling and evaluation are expected to continue for approximately 45
days.


The drilling programme covers three wells to be drilled back to back.
The wells are targeting Silurian reefs mapped by an 80 square kilometres
3D seismic study completed in 2014. The Lapgiriai-1 exploration well was
drilled on the Raseiniai licence in 2013. The well confirmed the
presence of oil in the Silurian limestone formation and small amounts of
oil were produced to surface.

The Raseiniai licence covers 1,535 square kilometres onshore Lithuania.
Tethys Oil has a 30% indirect interest in the licence.

 

For further information, please contact

Magnus Nordin, Managing Director, phone +46 8 505 947 00

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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 holds onshore licence interests, the most significant being
Block 3 & 4. Tethys Oil’s oil production in Oman amounted in May
2015 to 9,601 BOPD. Tethys Oil also has licences 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. 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).