New appraisal well yields record flow rates from Block 4 onshore Oman – flows in excess of 3,000 barrels of oil per day. Exploration well on nearby structure ongoing.

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| Source: Tethys Oil AB
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The appraisal program on the recently discovered structure in Block 4 onshore
the Sultanate of Oman (B4EW4) continues with another very successful well. The
sixth well (B4EW4-6) on the structure, flows in excess of 3,000 BOPD on a 34/64
inch choke from the Lower Buah reservoir section of the Nafun carbonate group.
This is the third appraisal well into this reservoir section on the structure,
and it was drilled approximately 1,100 meters northeast from the discovery well
(B4EW4-1). Apart from yielding excellent flows, this well also confirmed the
reservoir extension in the north eastern direction, opening up for continued
appraisal drilling further away from the discovery well. The new well is being
hooked up to the testing equipment for a long term production test.


The rig has moved to drill an exploration well on the nearby structure (B4EW6),
with similar characteristics to the B4EW4 structure.

“We are very happy with the results from this appraisal well. The new well
shows excellent flow rates and we have not yet seen where the extension of this
reservoir ends. The structure has turned into a major Block 4 production area.
We will shortly continue appraisal drilling, but first we hope to expand the
current success with a new exploration well,” comments Tethys Oil’s managing
director Magnus Nordin.

Tethys Oil AB, through its wholly owned subsidiary Tethys Oil Block 3 and 4
Ltd, has a 30 percent interest in Blocks 3 and 4. Partners are Mitsui E&P
Middle East B.V. with 20 percent and the operator CC Energy Development S.A.L.
(Oman branch) holding the remaining 50 percent.

 

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 NASDAQ OMX Stockholm (TETY) in Stockholm.

Website: www.tethysoil.com