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2016-11-21

Tethys Oil: New boundaries for Block 3 licence area onshore Oman

Tethys Oil AB together with joint venture partners Mitsui E&P Middle East B.V.
and CC Energy Development S.A.L. (Oman branch) (Operator) have, in accordance
with the terms of the Exploration and Production Sharing Agreement (EPSA)
governing the Blocks 3 and 4 licence area onshore the Sultanate of Oman,
agreed new boundaries for the Block 3 licence area with the Ministry of Oil
and Gas (MOG).

The new boundaries exclude a 5,480 square kilometres area in the north eastern
part of Block 3, which has been returned to the MOG. After the agreed
adjustment the Blocks 3 and 4 licence area covers 29,130 square kilometres.

Tethys Oil AB, through its wholly owned subsidiary Tethys Oil Block 3&4 Ltd,
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 8 505 947 00

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This information is information that Tethys Oil AB is obliged to make public
pursuant to the EU Market Abuse Regulation. The information was submitted for
publication, through the agency of the contact person set out above, at 08:15
CET on 21 November 2016.

Tethys Oil AB (publ)

Tethys Oil is a Swedish oil company with focus on onshore areas with known oil
discoveries. Tethys Oil's core area is Oman, where the company holds 2P
reserves of 18 mmbo and has oil production of about 12,000 barrels per day
from Blocks 3 and 4. Tethys Oil also has onshore exploration licences in
Lithuania and France and some production in Lithuania. The shares are listed
on Nasdaq Stockholm (TETY).

Website: www.tethysoil.com

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