Tethys reports the award of sole 3-year rights to an EPSA contract for block 58 (Qatbeet), 4,557 sq km in Dhofar, S. Oman, adjacent to the company's own block 49 (Montasar). The new permit straddles the western flank of the South Oman Salt Basin and the Western Deformation Front. A 15 + 5-year production licence applies if warranted. An Oman govt co. (OOC?) will then have a (up to) 30% back-in right against refunding of past expenditures. Commitments during the first period call for 3D seismic + 2 wells. www.tethysoil.com.
Tethys reports the award of sole 3-year rights to an EPSA contract for block 58 (Qatbeet), 4,557 sq km in Dhofar, S. Oman, adjacent to the company's own block 49 (Montasar). The new permit straddles the western flank of the South Oman Salt Basin and the Western Deformation Front.