GRAND CAYMAN, CAYMAN ISLANDS--(Marketwired - Nov. 15, 2016) - Tethys Petroleum Limited (TSX:TPL)(LSE:TPL)
("Tethys" or the "Company") is pleased to announce that the previously announced claims against employees of the Company's wholly
owned subsidiary Tethys Aral Gas LLP ("TAG") in Kazakhstan have been dismissed. Tethys wishes to acknowledge the assistance of
the Office of the Almaty City Prosecutor in quickly reviewing the claims and dismissing the case.
Computers and documents taken during the investigation have been returned to the Company. The Company continues to work to
have the Court imposed freezing order over TAG's bank accounts lifted and restore normal business operations as soon as
possible.
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.
Disclaimer
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 and the Caspian Region. 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 by the Listing Rules and 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.