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2015-05-29

Tethys Oil: Change in number of shares and votes in Tethys Oil

Tethys Oil has, in accordance with previously announced resolution on the
Annual General Meeting, launched a mandatory share redemption procedure
whereby every share in Tethys Oil is split into one ordinary share and one
redemption share. As a result, the number of shares and votes in Tethys Oil
has changed.

As per 31 May 2015, the total number of shares amounts to 71,087,500, of which
35,543,750 are ordinary shares and 35,543,750 are redemption shares. The
total number of votes has also increased from 35,543,750 to 71,087,500 votes.

The redemption shares are being traded until 10 June 2015 on Nasdaq Stockholm.
With record date 12 June 2015, the redemption shares will be automatically
redeemed and SEK 2.00 in cash consideration for each redemption share will be
paid. After the redemption, the outstanding number of shares and votes will
return to 35,543,750.

This information constitutes an announcement of an increase in the number of
shares and votes pursuant to Chapter 4, Section 9, first paragraph of the
Financial Instruments Trading Act (1991:980).

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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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 and Lithuania. The
shares are listed on Nasdaq Stockholm (TETY).

Website: www.tethysoil.com

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