Tethys Initiates Third Party Audit of Oman Oil Finds

Tethys Oil has contracted Gaffney, Cline & Associates (GCA), an independent international petroleum consultancy, for the third party audit of the Farha South and East Saiwan oil discoveries made in 2009 on Blocks 3 and 4 onshore Oman. GCA will also act as engineering advisor for Tethys on these future development projects.

GCA will provide an independent third party resources and reserves report according to standard of The Society of Petroleum Engineer's Petroleum Resources Management System (SPE PRMS), also adopted by WPC, AAPG and SPEE. The report will cover the Farha South structure on Block 3 and the East Saiwan structure on Block 4.

The audit will be based on data available after the currently ongoing 3D seismic study over the East Saiwan structure has been completed, which is expected in early March.

"We are delighted to work with Gaffney Cline on our Omani projects. The technical support provided by GCA is second to none in the industry, and a resource/reserve audit conducted by GCA will further the understanding and evaluation of these discoveries," said Magnus Nordin, Managing Director of Tethys Oil AB.

Tethys has a 50 percent interest in the licences covering Blocks 3 and 4. Consolidated Contractors Energy Development (Oman) Ltd holds the remaining 50 percent and is operator.