Tethys Oil AB: Fourth quarter and year-end report - 31 December 2016
Fourth quarter 2016 · Production amounted to 12,268 barrels per day, in line with third quarter 2016 · As per 31 December 2016, third party audited reserves on Blocks 3&4, Oman, net Tethys o 1P reserves 14,222 thousand barrels of oil ("mbo") (12,905 mbo) o 2P reserves 21,408 mbo (18,244 mbo) o 3P reserves 29,729 mbo (27,863 mbo) · The increase in 2P reserves represents an internal reserve replacement ratio of 171 percent · Tethys Oil estimates that correction of an export reporting error reduces fourth quarter 2016 revenue and result