Tethys Oil Conducts Private Placement

The Board of Directors of Tethys Oil AB has resolved to conduct a private placement of 150,000 shares at SEK 33.75 per share, raising SEK 5.06 million before issue costs. The new issue will be carried out based on the authorization by the Annual General Meeting. This authorization is hereby fully utilized. The shares will be subscribed for by one international institutional investor.

The new issue will increase the number of shares in the company to 29,343,542, resulting in a dilution of 0.5 percent calculated on the current number of shares. The subscription price is in line with Tethys' closing price on the stock market yesterday.

The proceeds from the private placement will be used as working capital.