Financial update third quarter 2016

Tethys Oil’s revenue amounted during the third quarter 2016 to MUSD 26.
Tethys Oil’s share of the production, before government take, from
Blocks 3 and 4 onshore the Sultanate of Oman amounted in the quarter to
1,120,764 barrels. The average achieved oil price during the quarter was
USD 45.8 per barrel. All oil sales relate to Blocks 3 and 4 in Oman,
where Tethys Oil holds 30 per cent of the licence.




\* 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. Overlift 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.

 

The report for the third quarter 2016 will be disclosed on 1 November
2016.

 

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 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 18 mmbo and has oil production of about
12,000 barrels per day from Blocks 3 and 4. Tethys Oil also has onshore
exploration licences in Lithuania and France and some production in
Lithuania. The shares are listed on Nasdaq Stockholm (TETY).

Website: www.tethysoil.com