2013-09-26

Notification of Transactions of Directors/Persons Discharging Managerial Responsibility and Connected Persons

TETHYS PETROLEUM LIMITED: NOTIFICATION OF TRANSACTIONS OF DIRECTORS/PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND CONNECTED PERSONS.

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1.  Name of the issuer                 2. State whether the notification
                                          relates to (i) a transaction
    TETHYS PETROLEUM LIMITED              notified in accordance with DTR
                                          3.1.2 R, (ii) a disclosure made in
                                          accordance with LR 9.8.6R(1) or
                                          (iii) a disclosure made in
                                          accordance with section 793 of the
                                          Companies Act (2006).

                                          THE DISCLOSURE IS MADE IN
                                          ACCORDANCE WITH DTR 3.1.2 R
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3.  Name of person discharging         4. State whether notification relates
    managerial                            to a person connected with a
    responsibilities/director             person discharging managerial
                                          responsibilities/director named in
    MARK SARSSAM                          3 and identify the connected
                                          person

                                          N/A

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5.  Indicate whether the notification  6. Description of shares (including
    is in respect of a holding of the     class), debentures or derivatives
    person referred to in 3 or 4 above    or financial instruments relating
    or in respect of a non-beneficial     to shares
    interest(1)

    N/A                                   N/A
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7.  Name of registered shareholders(s) 8. State the nature of the
    and, if more than one, the number     transaction
    of shares held by each of them

    N/A                                   N/A

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9.  Number of shares, debentures or    10. Percentage of issued class
    financial instruments relating to     acquired (treasury shares of that
    shares acquired                       class should not be taken into
                                          account when calculating
                                          percentage)
    N/A
                                          N/A

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11. Number of shares, debentures or    12. Percentage of issued class
    financial instruments relating to      disposed (treasury shares of that
    shares disposed                        class should not be taken into
                                           account when calculating
                                           percentage)
    N/A
                                           N/A

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13. Price per share or value of        14. Date and place of transaction
    transaction
                                           N/A
    N/A

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15. Total holding following            16. Date issuer informed of
    notification and total percentage      transaction
    holding following notification
    (any treasury shares should not be
    taken into account when                N/A
    calculating percentage)

    75,000 Shares
    1,230,000 Options
    75,000 Warrants
    Total: 1,380,000
    0.45%

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If a person discharging managerial responsibilities has been granted options by the issuer complete the following boxes 

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17. Date of grant                      18. Period during which or date on
                                           which exercisable:
    24 SEPTEMBER 2013                      The options vest one third
                                           immediately, one third after one
                                           year and one third after two
                                           years. The options will expire on
                                           23 September 2018.
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19. Total amount paid (if any) for     20. Description of shares or
    grant of the option                    debentures involved (class and
                                           number)
    NIL                                    Option to acquire 240,000 ordinary
                                           shares under the Tethys Petroleum
                                           limited 2007 Long Term Stock
                                           Incentive Plan.
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21. Exercise price (if fixed at time   22. Total number of shares or
    of grant) or indication that price     debentures over which options 
    is to be fixed at the time of          held following notification
    exercise
                                           240,000 OPTIONS
    CAD 0.74


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23. Any additional information         24. Name of contact and telephone
                                           number for queries
    This information is being supplied
    on Mark Sarssam becoming a PDMR        LIZ LANDLES
    following his appointment as           TEL: 01481 725911
    Senior Vice President and
    subsequent option award as
    detailed in this form. Mr Sarssam
    also holds the following shares,
    options and warrants, all of which
    he beneficially owns.

    75,000 Shares

    360,000 Options: Exercise price USD2.00; Issue date 16/02/11;
    Expiry date         15/02/16 

    450,000 Options: Exercise price CAD0.66; Issue date 19/08/11; 
    Expiry date         18/08/14

    180,000 Options: Exercise price CAD0.88  Issue date 23/04/12; 
    Expiry date         22/04/17

    All the options vested one third immediately, one third after one year and one third after two years.

    75,000 Warrants: Exercise price CAD0.64; Issue date 15/12/12;
    Expiry date         14/06/14

    60,000 Warrants: Exercise price CAD0.74; Issue date 24/03/13; 
    Expiry date         23/02/14
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Liz Landles

Corporate Secretary

Date of notification: 26/09/12