Tethys Oil to repurchase shares


The Annual General Meeting (”AGM”) on May 14th 2014 resolved to authorize the
Board of Directors to decide on repurchase of own shares. The Board of
Directors has, based on the authorization, today decided to initiate the
repurchasing program. The purpose of the repurchasing program is to optimize
the capital structure and to enable any repurchased shares to be used as
payment in connection with, or financing of, acquisitions of companies or
businesses.


The repurchase of shares may only take place on Nasdaq Stockholm and only at a
price within the price interval prevailing at any given time. Not more than 10
percent of the outstanding shares of the company may be repurchased at one or
more occasions up until the AGM in 2015.

Tethys Oil currently does not hold any shares in custody.

For the complete authorization, please refer to Tethys Oil’s website,
www.tethysoil.com.

 

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. The information was published at 07.20 a.m. CET on 4 November
2014.

 

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) in Stockholm.

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).