Tethys Petroleum Announces Change of CEO

Grand Cayman, Cayman Islands--(Newsfile Corp. - July 9, 2018) - The Board of Directors of Tethys Petroleum Limited (TSXV: TPL.H) ("Tethys" or the "Company") today announces that Mr. Sam Barrows, Interim Chief Executive Officer ("CEO"), has decided to step down with immediate effect. The Board wishes to express its appreciation to Mr. Barrows for his excellent contribution to Tethys, during which time the group increased its oil price by 84% and streamlined its group cost structure substantially.

The board also announces Mattias Sjoborg as its new Interim CEO. As a Board Director, Mattias has led the company's recent restructuring process and will continue its implementation.

About Tethys

Tethys is focused on oil and gas exploration and production activities in Central Asia and the Caspian Region. This highly prolific oil and gas area is rapidly developing and Tethys believes that significant potential exists in both exploration and in discovered deposits.


Some of the statements in this document are forward-looking. Forward-looking statements include statements regarding the intent, belief and current expectations of the Company or its officers with respect to the potential that exists in both exploration and in discovered deposits in Central Asia. When used in this document, the words "expects," "believes," "anticipates," "plans," "may," "will," "should" and similar expressions, and the negatives thereof, are intended to identify forward-looking statements. Such statements are not promises or guarantees, and are subject to risks and uncertainties that could cause actual outcomes to differ materially from those suggested by any such statements including risks and uncertainties with respect to the potential that exists in both exploration and in discovered deposits in Central Asia.

No part of this announcement constitutes, or shall be taken to constitute, an invitation or inducement to invest in the Company or any other entity, and shareholders of the Company are cautioned not to place undue reliance on the forward-looking statements. Save as required applicable law, the Company does not undertake to update or change any forward-looking statements to reflect events occurring after the date of this announcement.

Contact Information:

Tethys Petroleum