Sales update second quarter 2015


Tethys Oil’s net sales amounted during the second quarter 2015 to MSEK
265. The average selling price during the quarter was USD 57.8 per
barrel and 545,019 barrels were sold. As per 30 June 2015, the overlift
position amounted to 22,647 barrels (underlift of 80,924 barrels as per
31 March 2015). All oil sales relate to Blocks 3&4 in Oman, where
Tethys Oil holds 30 per cent of the licence.


| Tethys Oil’s share Blocks 3&4 | Net sales of oil and gas (MSEK) | Average
selling price (USD/bbl) | Net sales (bbl)* | Production (bbl)** |
Over-/underlift (bbl)*** | 
| Q2 2015 | 265 | 57.8 | 545,019 | 848,939 | 22,647 |
| Q1 2015 | 163 | 63.8 | 308,892 | 774,315 | -80,924 |
| Q4 2014 | 310 | 97.1 | 434,035 | 757,730 | 12,828 |
| Q3 2014 | 296 | 107.6 | 399,352 | 762,375 | -27,188 |
| Q2 2014 | 245 | 105.9 | 350,059 | 647,569 | -30,105 |
| Full year 2014 | 1,046 | 103.9 | 1,464,228 | 2,765,654 | 12,828 |

 

* After government take

** Before government take

*** Volumes sold do not always correspond to Tethys Oil’s share of
production after government take during a period. The difference is
called over-/underlift. The over-/underlift position is stated as per
the end of each quarter. Underlift is stated as a negative number.

 

Tethys also has some production from Lithuania. The result from the
Lithuanian production is reported in the Group’s income statement as net
profit/loss from associates.

Six month report 2015 (January – June 2015) will be disclosed on 18
August 2015.

 

For further information, please contact

Magnus Nordin, managing director, phone +46 8 505 947 00

Morgan Sadarangani, CFO, phone +46 8 505 947 01

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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. 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).