Tethys Oil

Transaction in Own Shares • Jan 13, 2021

Press release 2021-01-13

Share buy-backs in Tethys Oil

During the period 5 – 11 January 2021, Tethys Oil AB (publ) has repurchased a total of 26,000 of its own shares. The buy-back program, which was announced on 11 December 2020, is being conducted in accordance with the EU Market Abuse Regulation No 596/2014 and the Commission Delegated Regulation No 2016/1052.

Date	Aggregated daily volume (number of shares)	Weighted average share price per day (SEK)	Total daily transaction value (SEK)
7 January 2021	13,000	53.18	691,400
11 January 2021	13,000	52.92	687,983

All of the own-share acquisitions have been carried out on the Nasdaq Stockholm Stock Exchange by Pareto Securities on behalf of Tethys Oil. Pareto Securities is also managing the buy-back program and makes its trading decisions concerning the timing of acquisitions of shares wholly independently from Tethys Oil.

Following the acquisitions detailed above, Tethys Oil's holding of own-shares amounts to 356,552 shares as of 11 January 2021 from the 33,056,608 of total Tethys Oil shares.

A full breakdown of the transactions required pursuant to the EU Market Abuse Regulation No 596/2014 ("MAR") and the Commission Delegated Regulation No 2016/1052 ("Safe Harbour Regulation") is attached to this announcement. The total volume of Tethys Oil shares which have been bought back within the current share buy-back program from 11 December 2020 up to and including 11 January 2021 amounts to 356,552 shares.

The shareholders at the Annual General Meeting on 13 May 2020 authorized the Board of Directors to undertake a buy-back program, the first of which was announced on 11 December 2020, subject to the limitations outlined below. The key objective is to give the company equity flexibility and thereby optimize its capital structure. Repurchased shares may also be used as payment for, or financing of, acquisitions of companies or businesses or in connection with handling of incentive programs. Purchases may be made at one or several occasions up to and including 8 February 2021, and by a maximum of so many shares that the company's holding of own shares after the purchase amounts to a maximum of one-tenth of all the shares in the company. The maximum amount for which shares may be acquired under the buy-back program may not exceed SEK 42 million. The buy-back program is being implemented in accordance with the MAR and Safe Harbour Regulation.

For the complete repurchase authorization resolved by the shareholders at the AGM 2020, please refer to Tethys Oil's website, www.tethysoil.com.

Tethys Oil AB (publ)

Tethys Oil is a Swedish oil company with focus on onshore areas with known oil discoveries. The company's core area is the Sultanate of Oman, where it holds interests in Blocks 3&4, Block 49, Block 56 and Block 58. Tethys Oil has net working interest 2P reserves of 26.1 mmbo and net working interest 2C Contingent Resources of 13.5 mmbo and had an average oil production of 12,832 barrels per day from Blocks 3&4 during 2019. The company's shares are listed on Nasdaq Stockholm (TETY). Website: www.tethysoil.com

For further information, please contact

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

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 persons set out above, at 15:30 CET on 13 January 2021.

Exec Time	Qty	Last Px	Symbol
2021-01-07 10:06:01.922	1200	53	TETY
2021-01-07 10:07:44.312	50	53	TETY
2021-01-07 10:07:44.885	500	53	TETY
2021-01-07 10:08:01.676	1	53	TETY
2021-01-07 10:20:22.267	649	53	TETY
2021-01-07 10:23:18.557	1200	53	TETY
2021-01-07 10:23:18.704	1200	53	TETY
2021-01-07 10:23:18.767	1200	53	TETY
2021-01-07 10:32:55.979	500	53	TETY
2021-01-07 10:39:19.065	20	53	TETY
2021-01-07 10:39:58.290	680	53	TETY
2021-01-07 11:38:44.023	1200	53	TETY
2021-01-07 11:38:44.024	400	53	TETY
2021-01-07 11:38:44.024	1200	53	TETY
2021-01-07 16:25:24.170	198	53,6	TETY
2021-01-07 16:25:55.646	175	53,6	TETY
2021-01-07 16:25:55.646	1202	53,6	TETY
2021-01-07 16:27:50.784	126	53,6	TETY
2021-01-07 16:29:17.483	300	53,6	TETY
2021-01-07 17:23:00.344	999	54,2	TETY
2021-01-11 11:47:39.386	1025	53	TETY
2021-01-11 11:47:39.386	1472	53	TETY
2021-01-11 11:47:43.962	12	53	TETY
2021-01-11 11:48:05.035	279	53	TETY
2021-01-11 12:08:34.744	77	53	TETY
2021-01-11 12:22:56.305	657	53	TETY
2021-01-11 12:24:35.789	755	53	TETY
2021-01-11 12:24:35.789	1025	53	TETY
2021-01-11 12:35:16.336	27	53	TETY
2021-01-11 14:05:04.836	755	53	TETY
2021-01-11 14:05:04.836	426	53	TETY
2021-01-11 14:05:33.410	264	53	TETY
2021-01-11 14:06:10.416	208	53	TETY
2021-01-11 14:50:43.085	1500	53	TETY
2021-01-11 14:50:43.085	283	53	TETY
2021-01-11 14:50:43.103	755	53	TETY
2021-01-11 14:50:43.103	480	53	TETY
2021-01-11 15:19:50.933	81	52,6	TETY
2021-01-11 15:19:50.933	867	52,6	TETY
2021-01-11 15:19:50.933	505	52,6	TETY
2021-01-11 15:19:50.933	37	52,6	TETY
2021-01-11 15:19:50.933	179	52,6	TETY
2021-01-11 15:19:50.933	326	52,6	TETY
2021-01-11 15:19:50.942	505	52,6	TETY
2021-01-11 16:58:33.370	205	52,8	TETY
2021-01-11 16:58:33.370	86	52,8	TETY
2021-01-11 17:20:44.245	209	53,2	TETY