The Saiwan East-3 well ("SE-3") in Block 4 onshore the Sultanate of Oman has completed production testing of the horizontal section drilled in the Khufai reservoir. The maximum rate achieved during the test was 10,714 barrels per day of 32.4 API gravity oil through a 38 mm. choke size. The well could have a potential of higher flow rates with availability of bigger capacities of test surface equipment.

"We are delighted with this test result that exceeds our expectations and fully establishes the productivity of the Khufai reservoir", comments Magnus Nordin, Managing Director of Tethys Oil AB.

Tethys will have an interest in Blocks 3 and 4 of 30 per cent following a farmout agreement where 20 percentage points will be granted to Mitsui E&P Middle East B.V. The farmout is subject to final government approval. The operator CC Energy Development S.A.L. (Oman branch) is holding the remaining 50 per cent.


This release is an extract of that published by the Issuer. Accordingly, MAC Capital Limited accepts no responsibility to the accuracy of the information provided.

About Tethys Oil AB

Tethys Oil is a Swedish energy company focused on identification and development for production of oil and natural gas assets in the Middle East, North Africa and Europe. Tethys' strategy is to primarily invest in projects in areas with known oil and natural gas discoveries that have not been properly appraised using modern technology. In this way, high returns can be achieved with limited risk.

The company has interests in licences in Oman, Morocco, France, Spain, Turkey and Sweden. The shares are listed on First North (TETY) in Stockholm. Remium AB is Certified Adviser.

Website: www.tethysoil.com

For further information, please contact
Magnus Nordin
Managing Director
Phone +46 8 679 4995
magnus@tethysoil.com

NOTES FOR THE EDITOR: