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Tethys Oil announces Block 4 exploration well 4 (B4EW4) encounters oil - testing in progress

Tuesday, Feb 12, 2013

The exploration well B4EW4 onshore Oman has drilled to a final total depth of 3,030 metres. Wireline logging operations has been completed and a testing program has commenced. The well has encountered oil in four separate formations (Lower Al Bashir, Buah, Khufai and Masirah Bay). The result of the testing program is expected within three weeks.

B4EW4 was spudded in November 2012 on Block 4. This well was drilled on a dense grid of high quality 2D seismic data and is located approximately 20 km west of the Saiwan East oil field. Strong oil shows were recorded during drilling in the Lower Al Bashair, Buah, Khufai and Masirah Bay formations. PVT oil samples were acquired during wireline logging operations in the Lower Al Bashir, Buah and Masirah Bay formations. The testing program is designed to evaluate the Khufai and Buah reservoirs.

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.

Source: Tethys Oil AB

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