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

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


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).


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: