Tethys Oil provides update on Oman operations.

Farha South-3 well gearing up for production The Farha South-3 well, on Block 3 onshore Oman, is gearing up to begin production from the Barik formation. Under the Early production system now being put in place, plans call for oil to be trucked to the nearest pipeline tie-in point located some 90 kilometres to the west. Oil processing facilities are being installed near the well, including three thousand barrels of tank capacity. First oil from the well is expected during the summer.

Drilling of Saiwan East-3 appraisal well on Block 4completed - logging in progress The Saiwan East-3 well ("SE-3") on Block 4, which was spudded on May 5 as an appraisal and development well, has finished drilling. The appraisal pilot hole was drilled to a total depth of 1,800 metres. The objective Khufai reservoir target was encountered at 38 metres higher than in the Saiwan East-2 discovery well.

The horizontal section, designated SE-3 H1, was kicked off of the pilot hole and deviated down to the Khufai, where it was encountered some 300 metres away from the vertical hole. Then 9 5/8 inch (245 mm) casing was cemented into place and the horizontal sidetrack commenced. After logging, the production capacity of the horizontal well will be tested.

Seismic acquisition on Block 3 completed In addition, the 3D seismic survey has finished acquisition in Block 3. A total of 742 square kilometres were acquired in the survey that covers the Farha South discovery and a trend of similar prospects.

Tethys has a 50 per cent interest in Blocks 3 and 4, which will be reduced to a 30 per cent interest following a farmout agreement where Tethys has agreed to farm out 20 percentage points to Mitsui E&P Middle East B.V. The farmout is subject to final government approval. The operator Consolidated Contractors Energy Development (Oman) Ltd is holding the remaining 50 per cent.

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