The Board of Directors of Tethys Oil AB has resolved to conduct a private placement of 150,000 shares at SEK 33.75 per share, raising SEK 5.06 million before issue costs. The new issue will be carried out based on the authorization by the Annual General Meeting. This authorization is hereby fully utilised. The shares will be subscribed for by one international institutional investor.

The new issue will increase the number of shares in the company to 29,343,542, resulting in a dilution of 0.5 per cent calculated on the current number of shares. The subscription price is in line with Tethys' closing price on the stock market yesterday.

The proceeds from the private placement will be used as working capital.

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

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