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2015-06-16

Tethys Oil: Lithuanian drilling programme commences

A three well drilling programme on the Raseiniai licence onshore Lithuania has
commenced. The first well, the Bedugnis-1 well, is planned to be drilled
vertically to a total measured depth of 1,100 meters. Drilling and evaluation
are expected to continue for approximately 45 days.

The drilling programme covers three wells to be drilled back to back. The
wells are targeting Silurian reefs mapped by an 80 square kilometres 3D
seismic study completed in 2014. The Lapgiriai-1 exploration well was drilled
on the Raseiniai licence in 2013. The well confirmed the presence of oil in
the Silurian limestone formation and small amounts of oil were produced to
surface.

The Raseiniai licence covers 1,535 square kilometres onshore Lithuania. Tethys
Oil has a 30% indirect interest in the licence.

For further information, please contact

Magnus Nordin,
Managing Director, phone +46 8 505 947 00

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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 and natural gas. Tethys Oil’s core area is Oman, where the company
holds onshore licence interests, the most significant being Block 3&4. Tethys
Oil’s oil production in Oman amounted in May 2015 to 9,601 BOPD. Tethys Oil
also has licences onshore France and Lithuania. The shares are listed on
Nasdaq Stockholm (TETY).

Website: www.tethysoil.com

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