Tethys Oil — Earnings Release 2013

May 7, 2013

Press release 2013-05-07

Production update April 2013

Tethys' share of the production, before government take, from Blocks 3 and 4 onshore the Sultanate of Oman amounted in April 2013 to 129,916 barrels of oil, corresponding to 4,331 barrels of oil per day (bopd). The total production from Blocks 3 and 4 amounted in April to 433,053 barrels of oil, corresponding to 14,435 bopd.

The production in April includes test production from the exploration well B4EW4 on Block 4.

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 70 576 6555; 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, Lithuania and Sweden. The shares are listed on NASDAQ OMX Stockholm (TETY) in Stockholm.

Website: www.tethysoil.com