Tethys Oil AB (publ) (OM:TETY) entered into an agreement to acquire 2% stake of Block 53 onshore Oman from Total E&P Oman for $32 million on December 23, 2018. The consideration payable is subject to customary closing adjustments. Tethys Oil will finance the acquisition with cash on hand, which at the end of the third quarter 2018, amounted to $63.7 million. The acquisition is subject to government approval and the waiver of partner pre-emption rights. Closing of the acquisition is expected during the first six months of 2019. Tethys Oil AB (publ) (OM:TETY) cancelled the acquisition of the 2% stake of Block 53 onshore Oman from Total E&P Oman on January 25, 2019.