Farha South-3 is being drilled 1.2 km South East of the Farha South-1 oil discovery.
Based on data from previous operators, it is estimated that the Farha South structure could contain some 8 to 10 million barrels of recoverable oil.
The discovery well tested a total of 260 bbl of 40 degree API oil from the Lower Bashair formation in 1986.
Tethys has a 50% interest in Blocks 3 and 4. Consolidated Contractors Energy Development (Oman) Ltd holds the remaining 50% and is operator.
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Tethys Oil: The Farha South-3 well in Oman spudded
- Oman: Wednesday, February 11 - 2009 at 13:48
- PRESS RELEASE
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The Farha South-3 well on Block 3 onshore Oman has spudded; drilling target is the Lower Bashair sandstone formation at a depth of around 1,900 metres.
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Posted by Siba Sami AmmariWednesday, February 11 - 2009 at 13:48 UAE local time (GMT+4)
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About Tethys Oil AB:
Tethys Oil is a Swedish energy company focused on identification and development for production of oil and natural gas assets in the Middle East, North Africa and Europe. Tethys' strategy is to primarily invest in projects in areas with known oil and natural gas discoveries that have not been properly appraised using modern technology. In this way, high returns can be achieved with limited risk.
The company has interests in licences in Oman, Morocco, France, Spain, Turkey and Sweden. The shares are listed on First North (TETY) in Stockholm. Remium AB is Certified Adviser.
About MAC Capital Limited.
MAC Capital Limited is regulated by the Dubai Financial Services Authority and is a member of the DIFX. The group's shareholders include international stock brokers, investment banks and private banks, including:
- Tolhurst Group Limited Australia
- Quam Securities Co., Ltd. Hong Kong
- Killik & Co. United Kingdom
- Syrus Securities Plc. Thailand
- Banque Morval Switzerland
- Capital Partners Securities Co., Ltd. Japan
- Lloyd Edward-Jones France
and a number of prominent international businessmen.
In Dubai, its affiliate MAC Sharaf Securities (U.A.E.) LLC, is a fully licenced stock broker on the Dubai Financial Market ("DFM") and the Abu Dhabi Securities Exchange ("ADX") and its Dubai-based partners are the Sharaf Group and Major General Mohammed Abdul Rahim Al Ali.
For further information, please contact:
Magnus Nordin
Managing Director
Tethys Oil
Phone +46 8 679 4995
Mr. Robert W. McMillen
Chairman
MAC Capital Limited
Suite 115, Building 4, Gold & Diamond Park
Interchange 4, Sheikh Zayed Road
P.O. Box 122723, Dubai, U.A.E.
Tel: +971-4-409-7170
Fax: +971-4-409-7270
Tethys Oil is a Swedish energy company focused on identification and development for production of oil and natural gas assets in the Middle East, North Africa and Europe. Tethys' strategy is to primarily invest in projects in areas with known oil and natural gas discoveries that have not been properly appraised using modern technology. In this way, high returns can be achieved with limited risk.
The company has interests in licences in Oman, Morocco, France, Spain, Turkey and Sweden. The shares are listed on First North (TETY) in Stockholm. Remium AB is Certified Adviser.
About MAC Capital Limited.
MAC Capital Limited is regulated by the Dubai Financial Services Authority and is a member of the DIFX. The group's shareholders include international stock brokers, investment banks and private banks, including:
- Tolhurst Group Limited Australia
- Quam Securities Co., Ltd. Hong Kong
- Killik & Co. United Kingdom
- Syrus Securities Plc. Thailand
- Banque Morval Switzerland
- Capital Partners Securities Co., Ltd. Japan
- Lloyd Edward-Jones France
and a number of prominent international businessmen.
In Dubai, its affiliate MAC Sharaf Securities (U.A.E.) LLC, is a fully licenced stock broker on the Dubai Financial Market ("DFM") and the Abu Dhabi Securities Exchange ("ADX") and its Dubai-based partners are the Sharaf Group and Major General Mohammed Abdul Rahim Al Ali.
For further information, please contact:
Magnus Nordin
Managing Director
Tethys Oil
Phone +46 8 679 4995
Mr. Robert W. McMillen
Chairman
MAC Capital Limited
Suite 115, Building 4, Gold & Diamond Park
Interchange 4, Sheikh Zayed Road
P.O. Box 122723, Dubai, U.A.E.
Tel: +971-4-409-7170
Fax: +971-4-409-7270
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