Tethys Oil enters into farmout agreement with EOG Resources over Block 49 onshore Oman
Tethys Oil, through its wholly owned subsidiary Tethys Oil Montasar Ltd (“Tethys”), has entered into an agreement with EOG Resources Oman Block 49 Limited (“EOG”), a wholly owned subsidiary of EOG Resources, Inc., for EOG to obtain a 50 percent interest in the Exploration and Production Sharing Agreement (“EPSA”) covering Block 49 onshore Oman (“the Block”) which comprises 15,439 km[2] (approximately 3.8 million acres). Under the agreement, EOG will also have the option to assume operatorship of the Block and increase its interest to 85 percent for any operation relating to unconventional