OMAN ASSET PRODUCTION AVERAGED 13,814 BOPD IN OCTOBER


                        
Test production from the Early Production System (EPS) on Blocks 3 and 4
onshore the Sultanate of Oman continues and amounted in October 2012 to 428,225
barrels of oil, corresponding to 13,814 barrels of oil per day (BOPD). Tethys’
share of the production, before government take, amounts to 30 per cent of the
total, or 128,468 barrels.


The October production has been impacted by the installation and fine tuning of
facilities relating to the Farha South Field. All major components on the two
fields are now up and running but fine tuning to determine optimal production
capacity will continue.

Long term production tests have been carried out on wells from both the Saiwan
East oil field on Block 4 and the Farha South oil field on Block 3. Production
rates continue to vary depending on test programme design and available
capacity.

Tethys has a 30 per cent interest in Blocks 3 and 4. Partners are Mitsui E&P
Middle East B.V. with 20 per cent and the operator CC Energy Development S.A.L.
(Oman branch) holding the remaining 50 per cent.

 

For further information, please contact

Magnus Nordin, Managing Director, phone +46 70 576 6555; magnus@tethysoil.com

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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, Lithuania and Sweden. The
shares are listed on First North (TETY) in Stockholm. Remium AB is Certified
Adviser.

Website: www.tethysoil.com