![Page 1: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/1.jpg)
TETHYS OIL AB Extra bolagstämma 20 februari 2008
![Page 2: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/2.jpg)
2
OMAN
Licens Tethys share
Block 15 40%
Block 3&4 50%
![Page 3: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/3.jpg)
OMAN - BLOCK 15 LOCATION MAP
• Tethys Oil, Operator, 40%
• Odin Energi, Partner, 60%
• EPSA signed October 2005
![Page 4: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/4.jpg)
4
- Started on 20 May 2007 for 4-5 days
- Encountered troubles with directional drilling equipment, could not build
the angle as much as required
- Let well flow and sampled gas and formation fluid
- Abandonned Shuaiba Fm
OMAN BLOCK 15 - JA-1 STK 1 (SHUAIBA) – BASIC DATA
![Page 5: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/5.jpg)
5
• Natih Fm flowed:
• 11.03 mmscfpd of gas
• 793 bpd of 57°API condensate
• total of 2,626 boepd through a 1
inch choke
• Flow rates constrained due to
production tubing size restriction
• Black smoke indicates burning oil
OMAN BLOCK 15 - JA-1 STK 2 (NATIH) - TEST
![Page 6: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/6.jpg)
Helix RDS (UK) Ltd.
OMAN - JEBEL ASWAD WELL
Low Mid High
Gas Cumulative (Bscf) 13.84 130.64 435.99
Condensate Cumulative(MMbbIs) 0.69 6.53 21.80
Recovery Factor (%) 70.35 77.45 88.02
Number of wells 5 10 16
Recovery per well 2.77 13.06 27.25
Plateau level (MMscf/d) 20 50 100
Time on Plateau (years) 1.1 4.8 8.5
![Page 7: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/7.jpg)
7
Gas Rate plateau:
5 years
Condensate rate
declines at 20% per year
Jebel Aswad Only BOE
Rate
(BOEPD)
Gas Rate
(mmscfpd)
Cond.
Rate
(BOPD)
First Production 1 Jul 2009 (3 wells) 4,045 15,000 1,545
Full Field Production 1 Oct 2010 (10 wells) 12,750 50,000 4,417
JEBEL ASWAD NATIH A PRODUCTION TARGET
![Page 8: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/8.jpg)
Jebel Aswad Only BOE Rate
(BOEPD)
Gas Rate
(mmscfpd)
Cond.
Rate
(BOPD)
First Production 1 July 2009 1 618 6 000 618
Full Field Production 1 October 2010 5 100 20 000 1 767
*Based on in-house volumetrics and RDS Helix numbers
JEBEL ASWAD NATIH A PRODUCTION TARGET – TETHYS 40%
Gas Rate plateau:
5 years
Condensate rate
declines at 20% per
year
![Page 9: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/9.jpg)
Activity Completion Date
PVT Analysis 28 February, 2008
Production Plan (reservoir eng.) 31 March, 2008
Process Design 31, March, 2008
Field Development Plan Submission 1 September, 2008
Field Development Plan Approval 1 December, 2008
EIA Approval 1 December, 2008
Gas Sales Agreement 1 January, 2009
Phase 1 Production Start (3 wells) 1 July 2009
JEBEL ASWAD PHASE 1 EARLY PRODUCTION SCHEDULE
![Page 10: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/10.jpg)
10
JEBEL ASWAD CAPEX – TETHYS 40%
Wells Drilling
(MUSD)
Facilities
(MUSD)
Total
MUSD
Early Production
System (Phase 1)2 5 7 12
Full Field Development
(Phase 2)7 12 19 31
Base case
Rented / Own Production Facility
![Page 11: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/11.jpg)
11
JEBEL ASWAD CAPEX – TETHYS 40%
Alternative case
3 phase flow export option (OPEX unknown)
Wells Drilling
(MUSD)
Facilities
(MUSD)
Total
MUSD
Early Production
System (Phase 1)2 5 10 15
Full Field Development
(Phase 2)7 12 5 17
![Page 12: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/12.jpg)
SAUDI ARABIA
YEMEN
OMAN
BAHRAIN
QATAR
UN
ITE
D A
RA
B E
MIR
ATE
S
Hormuz Strait
OMAN - Mussandam
ZAKUM
SHAYBAH
SAFAH
YIBAL
AL HUWAISAH
SAIH RAWL
BARIK
MUKHAIZNA
NIMR
MARMUL
Sohar Industrial Cityplanned Petrochemicals Plant
Mina al Fahal
OMAN LNGQalhat
Raysutplanned GPP
Salalah
Rub Al Khali Desert
Empty Quarter
As Samah Desert
Al Harasis
Gravel Plain
Hajar
Mountains
Al B
atinah
Al D
hahirahAl Wahaybah
Desert
Manah
MUSCAT
32"
36",
20"
Saih Rawl to Qalhat-LNG Export plant
28"
10"
24"
RUNIB
16" Sahmah-Hubara
6"
16"
JebelKhuni
Tropic ofCancer
FAHUD
LEKHWAIR
SAIH NIHAYDAQARN ALAM
existing 48"
planned 48"
SO
GL
AL GHUBAR
16"32"
BUKHA
Khor Khwair
16"
10"
WADILATHAM
BVS-5
16"
HAFAR
Nahada
12"planned
GGP
CPP
Sur
Indian Ocean
Wadi JizziPower Plant
52°E
52°E
54°E
54°E
56°E
56°E
58°E
58°E
60°E
60°E
18
°N
18
°N
20
°N
20
°N
22
°N
22
°N
24
°N
24
°N
26
°N
26
°N
0 100 20050
Km
The Fahud-Sohar
gas pipeline is
crossing block 15
Modified after Wood MacKenzie
OMAN - BLOCK 15 AND GAS INFRASTRUCTURE MAP
![Page 13: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/13.jpg)
13
BLOCK 15
TETHYS OIL
BLOCK 44 PTTEP
BLOCK 43 BMOL
BLOCK 31 INDAGO
BLOCK 30
INDAGO
BLOCK 27OXY
BLOCK 9OXY
BLOCK 5DALEEL
SHAMS
BLOCK 47
INDAGO
Modified after Wood MacKenzie
OMAN BLOCK 15 – LOCATION MAPS
![Page 14: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/14.jpg)
14
Prospects Natih Depth Map and JA-1 Re-entry Well Location
JA-1 re-entry location
OMAN BLOCK 15 – PROSPECTS
![Page 15: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/15.jpg)
15
OMAN BLOCK 15 – WELL RESULTS
![Page 16: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/16.jpg)
16
OMAN BLOCK 15 – JA-1 STK 2 (NATIH) – FINAL TRAJECTORY
![Page 17: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/17.jpg)
17
*Tethys volumetrics and RDS Helix numbers
** Tethys estimate
Jebel Aswad OnlyLow Mid High
BCF mmbc BCF mmbc BCF mmbc
Natih “A”* 5.6 0.3 52 2.6 174.4 8.7
Natih “C”** 2.4 0.1 1.2 0.7 43.2 2.1
Shuaiba ** 4 0.2 44 2.2 140 7
Total Gas and
Condensate
12 0.6 110 5.5 357.6 17.8
Total oil equivalent
mmboe
2.6 24 77.6
JEBEL ASWAD RESOURCE POTENTIAL - TETHYS 40%
![Page 18: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/18.jpg)
18
Run 3D seismic over Jebel Aswad field (166 km2)
OMAN BLOCK 15 - NEAR FUTURE SEISMIC WORK
![Page 19: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/19.jpg)
19
o Prospects no 5 and 9 are on the same surface & geological trend as
Natih oil fields
OMAN BLOCK 15 - PROSPECTS NO 5 & 9
![Page 20: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/20.jpg)
GRV Ratio
Poro-
sity Sg FVF RF MM m3 BCF
Lead 9 MM m3 Fraction
Frac-
tion
Frac-
tion
fractio
n rec. rec.
Minimum 1200 0.10 0.07 0.65 180 0.75 737.10 26
Likely 1600 0.25 0.1 0.75 300 0.85 7650.00 268
Maximum 1800 0.30 0.13 0.85 310 0.9
16647.9
3 583
7 Leads- Gas Resources
Most Likely BCFG
Lead 1 95
Lead 2 100
Lead 3 105
Lead 4 92
Lead 5 200
Lead 6 75
Lead 9 268P50 Total Gas 935 BCF
LEAD 9 (EXAMPLE) NATIH & SHUAIBA RESERVOIRS
25 m net pay combined
![Page 21: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/21.jpg)
21
OMAN
Block 15
Block 3&4
![Page 22: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/22.jpg)
22
o Agreement signed with Noreco Norway (affiliate Altinex) in
November 2007 to take over its 50% interest in Blocks 3 and 4
o Consolidated Contractors (operator) 50%
Tethys 50%
o Tethys will enter into 2nd exploration phase of EPSA (1st phase
expiration date 15 December 2007)
o 2nd phase minimum work commitment (3 years period):
- Acquiring 800 km of 2D seimic
- Drilling 3 exploration wells
- Acquiring 400 km2 of 3D seismic OR drilling a 4th
exploration well
OMAN BLOCKS 3 & 4 - TETHYS OIL FARMIN
![Page 23: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/23.jpg)
23
ISLAMIC
REPUBLIC
OF IRAN
KINGDOM OF
SAUDI ARABIA
SULTANATE
OF OMAN
UNITED ARAB
EMIRATES
Muscat
4
3
OMAN BLOCKS 3 & 4
![Page 24: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/24.jpg)
24
Contingent
Resource
(i.e. tested or
w/ good
shows)
Contingent
Resource
(i.e. tested or
w/ good
shows)
Huwayr Deep`
Abu Zeinah
Deep
North Saiwan
Saih Hajmah
Farha South
East Saiwan
Potential
Resource
(i.e.
prospect)
Al Saad –
Qulam North
Maeen -
Qarn Sahmah
Flank
Huwayr Deep`
Abu Zeinah
Deep
North Saiwan
Saih Hajmah
Farha South
East Saiwan
Potential
Resource
(i.e.
prospect)
Al Saad –
Qulam North
Maeen -
Qarn Sahmah
Flank
BLOCKS 3 & 4 – RESOURCE POTENTIAL
![Page 25: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/25.jpg)
25
o > 30„000 km of 2D seismic
o 27 wells drilled, of which 18 had HC shows and 1 oil discovery
o South Farha - 1 oil discovery
o In Block 3
o Drilled in 1986 by JPDC
o Delineated by 3 wells
o Estimated 4-6 million bbls of recoverable oil from thin
sandstone layers
o Flowed 260 bbl of 40°API oil
BLOCKS 3 & 4 – INFORMATION
![Page 26: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/26.jpg)
26
Block 4
Block 3
BLOCKS 3 & 4 – DATABASE ON WORKSTATION
![Page 27: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/27.jpg)
27
TETHYS OCEAN
![Page 28: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/28.jpg)
License acquisition
Exploration
Exploratory drilling
Appraisal
Development
Production
TETHYS OIL’S APPRAISAL PROJECT
France
![Page 29: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/29.jpg)
FRANCE – ATTILA LICENSE
Many oil fields
One gas field
License
![Page 30: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/30.jpg)
FRANCE
Licens Tethys share
Attila 40%
![Page 31: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/31.jpg)
FRANCE – ATTILA LICENSE
• Vieux Chamot prospect mapped with seismic, surface geochemistry and temperature
• Pierre Maubeuge-1 (PLM-1) well drilling location identified and contracted
• Pierre Maubeuge-2 (PLM-2) well drilling location identified and contracted
• PLM-2 spudded on 25 September 2007
• Drilling duration: < 20 days
![Page 32: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/32.jpg)
License acquisition
Exploration
Exploratory drilling
Appraisal
Development
Production
TETHYS OIL’S EXPLORATIONS PROJECTS
Turkey
Morocco
Spain
![Page 33: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/33.jpg)
MOROCCO
Map with gas pipeline
Licens Tethys share
Bouanan License 12.5%
![Page 34: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/34.jpg)
MOROCCO – BOUANANE LICENSE
Line BB-07
• Dana 50%, ONHYM 25%, Tethys 12.5% and Eastern 12.5%
• Entered the 8-year exploration permit in June 2007
• Drilling expected in 2008
![Page 35: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/35.jpg)
TURKEY
Licens Tethys
share
The Trace Project
Licenses
3998, 3999 & 4187
25%
The Ispandika Project
Licenses 3794 & 3795 10%
![Page 36: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/36.jpg)
TURKEY
The Trace Project
• Aladdin 50%, Tethys 25% and JKX 25%
• Old seismic reprocessing done
• New seismic acquired and reprocessed
• Drilling of first exploration well expected first quarter 2008
![Page 37: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/37.jpg)
TURKEY
The Ispandika Project
• A shallow stratigraphic(geological research) well was drilled around the year 06/07
• Geological information gained from this well did not increase the knowledge of the area substantially.
• The security situation in the region has deteriorated, and no ground work is currently carried out.
![Page 38: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/38.jpg)
SPAIN
Licens Tethys share
The Sedano Project
Valderredible 50%
Huermeces 50%
Basconcillos-H 50%
The Cameros Project
Cameros-2 26%
Ebro-A 26%
![Page 39: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/39.jpg)
SPAIN
The Sedano Project
The Cameros Project
• The Huermeces licence - With Ascent Resources as Operator, the
Hontomin-4 well on the was drilled in the spring of 2007. No oil encountered.
• Basconcillos-H - planned re-entry of the Tozo-1 postponed for operational
reasons.
• Valderredible
• A large natural gas prospect that has been identified
• A revision and analysis of prior well logs
• An environmental impact study
![Page 40: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/40.jpg)
GOTLAND ONSHORE
Licens Tethys share
Gotland Större 100%
![Page 41: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/41.jpg)
GOTLAND SURFACE OVERLAY
![Page 42: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/42.jpg)
Styrelsens förslag till dagens
stämma
FINANSIERING
![Page 43: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/43.jpg)
43
Cost Own
EPF
3 phase
export*
Estimated Capex I MUSD 12 15
Estimated CAPEX II MUSD 31 12
EPS Contribution MUSD
(Brent 80)
11 11
Warrant Exercise MUSD x x
Bank Loan y y
From Jul 1, 2009 to Oct 1, 2010
JEBEL ASWAD FULL FIELD FINANCING OPTIONS – TETHYS 40%
* OPEX unknown
![Page 44: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/44.jpg)
TETHYS OIL IN BRIEF
Daily turnover
Ticker
6 000 shares/day
TETY
MSEK 384Market Cap
MUSD 60
SEK 60Price 20 February
Shares Issued 6 392 760
Market Cap
Shares for issue
Shares for issue 175 000
374 000
![Page 45: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/45.jpg)
CASH AND BANK
Cash and bank & short
term recievables
12,1 MSEK
Short term recievables 15,8 MSEK
Short term payables 2,1 MSEK
SUM25.8 MSEK
4.0 MUSD
31 December 2007
![Page 46: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/46.jpg)
• Split 3 på 1
• Mandat ge ut 1 600 000 nya aktier I riktad emission
huvudsakligen till investerare I Mellanöstern och
Asien -MacCapital från Dubai lead agent
• Mandat ge ut 1 600 000 teckningsoptioner (”t.o.”)
till nuvarande och nya aktieägare 1 t.o. för fem
aktier
STYRELSENS FÖRSLAG
![Page 47: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/47.jpg)
• Onsdag 20 feb Stämma
• Fredag 29 feb Sista dag för handel med
osplittad aktie
• Måndag 3 mar Avstämningsdag för
splitdeltagande
• Onsdag 5 mar Datum för Split av aktie
• Torsdag 6 mar Distribution av aktier
erhållna genom split
SPLIT
![Page 48: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/48.jpg)
48
Cost Own
EPF
3 phase
export
Wo Opex
Estimated Capex I MUSD 12 15
Private Placement x
Estimated CAPEX II MUSD 31 12
EPS Contribution MUSD
(Brent 80)
11 11
Left to finance MUSD 20 1
Warrant Exercise MUSD x x
Bank Loan y y
From Jul 1, 2009 to Oct 1, 2010
JEBEL ASWAD FULL FIELD FINANCING OPTIONS – TETHYS 40%
![Page 49: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/49.jpg)
TETHYS OIL IN BRIEF AFTER SPLIT
Shares Issued 19 178 280
Private Placement 4 800 000
Warrants 4 795 656
Shares for issue 374 000
Shares for issue 175 000
![Page 50: TETHYS OIL AB · Tethys 50% o Tethys will enter into 2nd exploration phase of EPSA (1st phase expiration date 15 December 2007) o 2nd phase minimum work commitment (3 years period):](https://reader035.vdocuments.net/reader035/viewer/2022080722/5f7b8275adcbb263cc1225b3/html5/thumbnails/50.jpg)