Tethys Oil and partner Galli Coz S.A. have entered into a drilling contract for the drilling of the Pierre Maubeuge 2 (PLM-2) exploration well on the Attila licence, in the oil and gas producing Paris basin about 250 kilometres east of Paris. The drilling rig MR-7000 from French contractor COFOR will be used. All necessary permits have been obtained and preparations at the drill site have started. The drilling pad will be cemented in late August, and drilling operations are planned to commence in September.

The purpose with the exploration well is to explore for gas fields like the neighbouring 100 BCF Trois-Fontaines field. The comprehensive work programme in 2006 confirmed the structural integrity of the prospect and the prospectivity of the area.

Tethys has a 40 per cent interest in the license with private French oil company Galli Coz S.A. having 60 per cent and operatorship.

Oman Operations of the Jebel Aswad re-entry well on Block 15 onshore Oman were completed during the summer, and the rig has been de-mobilized and released. On testing the well flowed 11.03 mmscfpd of natural gas and 793 bpd of 57API condensate (total of 2 626 boepd). The evaluation of the result has continued through the summer, and Helix Energy Solutions Group, Inc. has been contracted to conduct a preliminary reserve study and to design a conceptual development plan. The Helix report is planned to be finished later in August.

Tethys Oil is the Operator of Block 15 with a 40 per cent interest with Danish company Odin Energi holding the rest.

“It gives us great satisfaction that the French well, Tethys’ third well so far this year, will be drilled so soon after our Omani success whilst the Omani project continues at full speed”, says Magnus Nordin, Managing Director of Tethys Oil.