2016 AGM

May 20, 2016

GRAND CAYMAN, CAYMAN ISLANDS- Tethys Petroleum Limited (TSX:TPL)(LSE:TPL) today reminded shareholders of the upcoming AGM.

An annual and special shareholders’ meeting (the “AGM”) has been called for May 31, 2016 for shareholders to approve a number of resolutions related to the Olisol transaction and the annual election of directors and appointment of auditors.

The Notice of Meeting and Management Information Circular for the AGM (the “meeting materials”) together with forms of proxy, voting instructions and directions (as applicable) have been mailed to shareholders and are available on sedar.com as well as on tethyspetroleum.com. Shareholders are encouraged to carefully review the meeting materials and vote in favour of the resolutions set out in the meeting materials, including those related to the Olisol transaction. The Olisol transaction was unanimously supported by the Tethys Board of Directors.

Voting instructions for registered and non-registered shareholders are set out in the meeting materials.

It is desirable that as many Ordinary Shares as possible be represented at the Meeting. If you do not expect to attend and would like your Ordinary Shares represented, please complete a proxy voting form(if you are a registered shareholder), voting instruction form (if you are a non-registered shareholder) or form of direction (if you own depositary interests) and return it as soon as possible in the envelope provided for that purpose.

The meeting will be held at the Intercontinental Paris, Le Grand, 2 Rue Scribe, Paris, 75009 on May 31, 2016 at 11:30 a.m. (Central European Summer Time – local time in Paris, France).

Shareholder questions or requests for assistance with voting at the AGM should be directed to info@tethyspetroleum.com.

Cautionary Statements

This press release contains “forward-looking information” which may include, but is not limited to, statements with respect to our operations and completion of the Olisol transaction. Such forward-looking statements reflect our current views with respect to future events and assume the completion of the Olisol transaction. These forward-looking statements are subject to certain risks and uncertainties, including the risk that the Olisol transaction will not receive required shareholder, court and regulatory approvals, that closing conditions will not be satisfied or that one or more aspects of the Olisol transaction will be otherwise delayed and accordingly that the Olisol transaction will not be completed. See our Annual Information Form for the year ended December 31, 2015 for a description of risks and uncertainties relevant to our business, including our exploration activities.

About Tethys Petroleum

Tethys Petroleum’s aim is to become the leading independent E&P Company in Central Asia, by exercising capital discipline, by generating cash flow from existing discoveries and by maturing large exploration prospects within our highly attractive frontier acreage.

Tethys Petroleum