Tethys Oil

Tethys Oil’s Tidikas-1 exploration well on the Raseiniai license in Lithuania has encountered a combined oil column of almost 170 ft in two limestone formations. The well is the second one drilled on the license this year. The Bedugnis-1 well was completed in August and also recorded oil shows. Both wells were targeting Silurian reefs and carbonate features mapped by a 30-sq mile 3D seismic study completed last year. The Tidikas-1 well will be put on a long-term production test. Tethys holds a 30% indirect interest in the license, with the remaining interests held by Odin Energiand private investors.


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