Tethys Oil

Earnings Release • Feb 12, 2014

Press Release 2014-02-12

New oil discovery onshore Oman – Exploration well B4EW6 flows in excess of 2,200 BOPD

The exploration well B4EW6 drilled on a previously undrilled structure onshore Oman has tested flows in excess of 2,200 BOPD on a 32/64 inch choke from the Lower Buah formation. B4EW6 was drilled approximately 13 km south of the B4EW4 discovery. The new B4EW6 well constitutes the best flows encountered from the Lower Buah outside the B4EW4 area so far. The well is hooked up to the production system to undergo a long term production test.

"We are very happy that the Lower Buah has delivered again. B4EW6 looks similar to B4EW4. As data comes in, we will learn more, but we are hopeful it could prove as prolific as B4EW4," comments Tethys Oil's managing director Magnus Nordin.

Tethys Oil AB, through its wholly owned subsidiary Tethys Oil Block 3 and 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 70 5766555; magnus@tethysoil.com

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 OMX Stockholm (TETY).

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Website: www.tethysoil.com