The company’s share price has appreciated c. 23% in the two and a half months since we initiated coverage with a BUY recommendation and target price of SEK70 on 2nd August 2016. We maintain our target price of SEK70 per share but now have a HOLD recommendation given the shares’ very strong recent performance. Tethys Oil’s share of 3Q16 production, before government take, from Blocks 3 and 4 in Oman was 1,120,764 barrels of oil, implying net production of c. 12, 166 bbl/d for September (FCC GMPe ....
