Tethys Oil’s revenue amounted during the second quarter 2016 to MUSD 21.
Tethys Oil’s share of the production, before government take, from
Blocks 3 and 4 onshore the Sultanate of Oman amounted in the first
quarter to 1,096,416 barrels. The average achieved oil price during the
quarter was USD 35.9 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 second quarter 2016 will be disclosed on 16 August
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 energy company focused on exploration and
production of oil. Tethys Oil’s core area is the Sultanate of Oman,
where the company is one of the largest onshore oil concession holders
with a current net production of about 12,000 barrels of oil per day.
Tethys Oil also has exploration and production assets onshore Lithuania
and France. The shares are listed on Nasdaq Stockholm (TETY).
Website: www.tethysoil.com
