Brief: Tethys Oil Enters Into Farmout Agreement With Eog Resources Over Block 49 Onshore Oman

Tethys Oil AB

10/11/2020 13:03

Nov 10 (Reuters) - Tethys Oil AB  TETY.ST :
    * TETHYS OIL ENTERS INTO FARMOUT AGREEMENT WITH EOG RESOURCES OVER BLOCK 49 ONSHORE OMAN
    * TETHYS OIL AB - EOG WILL ALSO HAVE OPTION TO ASSUME OPERATORSHIP OF BLOCK
    * TETHYS OIL AB - INITIAL THREE-YEAR EXPLORATION PHASE FOR BLOCK 49 HAS BEEN EXTENDED WITH
ONE
YEAR AND RUNS UNTIL DECEMBER 2021
    * TETHYS OIL AB - EOG WILL ALSO HAVE OPTION TO AND INCREASE INTEREST TO 85 % FOR ANY
OPERATION
RELATING TO UNCONVENTIONAL HYDROCARBON RESOURCES.
    * TETHYS OIL AB - EPSA HOLDERS CAN ELECT TO ENTER INTO A SECOND EXPLORATION PHASE OF AN
ADDITIONAL
THREE YEARS

Source text for Eikon:  ID:nWkr10yLGg 
Further company coverage:  TETY.ST 

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