Nostrum Oil makes further approach to Tethys Petroleum

Nostrum Oil has made a further approach to Tethys Petroleum regarding a possible offer the entire company. The possible offer price, whether in cash or shares, of C$0.2185 represents a premium of 46% over the closing share price on the Toronto Stock Exchange as of 9 July.

The possible offer price, whether in cash or shares, of C$0.2185 represents a premium of 46% over the closing share price on the Toronto Stock Exchange as of 9 July.

As part of the transaction Nostrum is willing to extend interim funding to Tethys even before any shareholder vote takes place.

-- More to follow --