An anonymous director reports

NOSTRUM LOAN UPDATE

Tethys Petroleum Ltd. received today a notice of events of default from Nostrum Oil & Gas PLC in connection with the $5-million (U.S.) facility agreement between Tethys and Nostrum, dated Aug. 10, 2015. Tethys does not agree with Nostrum's interpretation of the facility agreement that an event of default has occurred, has submitted a rebuttal of the notification received and has reserved all its rights.

Nostrum has indicated that its interpretation is due to the announcement on Oct. 13, 2015, that Tethys had received a notice from CNPC Central Asia B.V. and Total E&P Tajikistan B.V. requiring that Tethys's subsidiary, Kulob Petroleum Ltd., withdraw from the joint operating agreement in Tajikistan and the underlying PSC.

Tethys continues to work with the interested parties to conclude a financing transaction as soon as possible and anticipates providing an update on this shortly.

We seek Safe Harbor.