Drilling Operations Kick Off at Bouanane License Onshore Morocco

Tethys Oil announced the commencement of drilling operations of the Tafejjart-1 well on the Bouanane license onshore Morocco. Drilling target is potential natural gas in the very large Taffejart structure. Tethys has a 12.5% net working interest, and is carried by the Operator through US $12 million of total expenditure in the license.

The 2,000 horsepower drilling rig of Aladdin Middle East has spudded the Tafejjart-1 exploration well onshore Morocco. The Bouanane license is located in the northeast part of the country. Drilling operations are expected to last for two to three month.

"Tethys is delighted to participate in this classical wildcat well. This is a project with a huge upside but with small economic risk for Tethys," commented Tethys' Managing Director Magnus Nordin.

Dana Petroleum plc is the Operator of the Bouanane license and in charge of the drilling.