Tethys Oil Drilling Ahead at Karlebo-1 in Denmark

Karlebo-1 drilling operations onshore Denmark are progressing according to plan. So far the well has been drilled to slightly more than 1700 meters, and casing has been set and successfully cemented in place. The well is now secured and drilling will continue towards a total depth of more than 2500 meters. During this part of the well three potential hydrocarbon bearing zones will be penetrated. These target horizons are sandstones of Cretaceous, Jurassic and Triassic age. Once the well has reached total depth an extensive evaluation will be conducted to determine weather hydrocarbons are present in these zones. The evaluation will include the running of wire line logs. The results of the evaluation are expected within three weeks.

Tethys Oil is a Swedish company focused on exploration for and production of oil and natural gas. Tethys aims to maintain a well balanced portfolio of high risk/high reward exploration opportunities coupled with lower risk exploration and appraisal development assets. The company has interests in licenses in Oman, Denmark, Morocco, Spain, Turkey and France. The shares are listed on First North (TETY) in Stockholm.