The Board of Directors of Tethys Petroleum Limited announces that Mattias Sjoborg has decided to step down from the role of Chief Executive Officer ("CEO") with immediate effect but will remain a member of the Board. The board also announces Clive Oliver as its new CEO. Mr. Oliver is also Chief Financial Officer and joined the Company in August 2013. This change is primarily being made as a cost saving initiative and the Board feels combining these roles is appropriate at this time given Mr. Oliver's experience and knowledge of the business and the Company's current stage of development where operational management is located in Kazakhstan.