2016-03-24

TR-1 Notification of Major Interest in Shares

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For filings with the FCA include the annex                     
For filings with issuer exclude the annex 
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TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES(i)
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1. Identity of the issuer or the                                            
underlying issuer of existing shares                                        
to which voting rights are                          Tethys Petroleum Limited
attached:(ii)                                                               
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2. Reason for the notification (please tick the appropriate box or          
 boxes):                                                                    
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An acquisition or disposal of voting rights                              X  
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An acquisition or disposal of qualifying financial instruments which        
 may result in the acquisition of shares already issued to which            
 voting rights are attached                                                 
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An acquisition or disposal of instruments with similar economic             
 effect to qualifying financial instruments                                 
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An event changing the breakdown of voting rights                            
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Other (please specify):                                                     
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3. Full name of person(s) subject to the notification obligation:(iii)

                                                    Olisol Petroleum Limited
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4. Full name of shareholder(s) (if different from 3.):(iv)                                                     

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5. Date of the transaction and date on                                      
which the threshold is crossed or                              21 March 2016
reached:(v)                                                                 
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6. Date on which issuer notified:                              23 March 2016
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7. Threshold(s) that is/are crossed or                                      
reached:(vi, vii)                                                 5% upwards
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8. Notified details:                                                                          
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A: Voting rights attached to shares(viii, ix)                                                 
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Class/type of       Situation previous    Resulting situation after the   
shares              to the triggering     triggering transaction                                                             transaction
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if possible using   Number  Number  Number     Number of voting  % of voting    
the ISIN CODE       of      of      of shares  rights            rights (x)                  
                    Shares  Voting                                                           
                            Rights                                                           
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                                    Direct  Direct Indirect  Direct Indirect                      
                                            (xi)   (xii)            
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KYG876361091        0       0   37,440,042  37,440,042       9.99                 

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B: Qualifying Financial Instruments                                                           
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Resulting situation after the triggering transaction                                          
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Type of financial  Expiration Exercise/          Number of voting     % of      
instrument         date(xiii) Conversion         rights that may be   voting    
                              Period(xiv)        acquired if the      rights    
                                                 instrument is                   
                                                 exercised/ converted.           
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C: Financial Instruments with similar economic effect to Qualifying 
Financial Instruments (xv,xvi)                                                                                          
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Resulting situation after the triggering transaction                                          
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Type of    Exercise  Expiration Exercise/  Number of voting   % of voting    
financial  price     date       Conversion rights instrument  rights
instrument           (xvii)     period     refers to          (xix, xx)            
                                (xviii)                                             

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                                                            Nominal    Delta     
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Total (A+B+C)                                                                                 
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Number of voting rights                          Percentage of voting rights                
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37,440,042                                       9.99                
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9. Chain of controlled undertakings through which the voting rights and/or  
the financial instruments are effectively held, if applicable:(xxi)         
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N/A            

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Proxy Voting:                                                               
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10. Name of the proxy holder:                                            N/A
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11. Number of voting rights proxy                                           
holder will cease to hold:                                               N/A
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12. Date on which proxy holder will                                         
cease to hold voting rights:                                             N/A
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13. Additional information:                                              N/A
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14. Contact name:                                             Kenneth J. May
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15. Contact telephone number:                                   501-680-5463
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