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Second quarter and Six months report 2012

2012-08-28T08:03:00 CET

Second quarter 2012

  • 41% increase in 2C contingent resources to 13.8 mmbo

  • Export pipeline works completed on Block 3 and 4 Oman - launched in June

  • 10 wells drilled on Block 3 Oman

  • Record gross production of 302,081 bbls corresponding to 3,320 bopd

  • Net sales of MSEK 154

  • Result before write down of oil and gas interests MSEK 128

  • Write down of oil and gas properties of MSEK 113 regarding part of Block 15 and France

  • Net result MSEK 15

  • Earnings per share of SEK 0.46

  • Directed new share issues of MSEK 120 completed in May 2012

   

Six Months 2012

  • Record gross production of 586,562 bbls corresponding to 3,223 bopd

  • Net sales of MSEK 298

  • Net result MSEK 123 - significantly impacted by write downs

  • Earnings per share of SEK 3.75

 

MSEK (unless specifically stated) 1 Jan 2012 - 30 Jun 2012  6 months 1 Apr 2012 - 30 Jun 2012  3 months 1 Jan 2011 - 30 Jun 2011  6 months 1 Apr 2011 - 30 Jun 2011  3 months 1 Jan 2011 - 31 Dec 2011  12 months
Production, before government take (bbl) 586,562 302,081 83,249 64,585 423,469
Net sales, after government take (bbl) 380,416 184,994 20,903 4,871 147,228
Average selling price per barrel, USD 113.83 119.34 92.99 105.80 107.37
Net sales of oil and gas 298 154 13 3 104
Operating result 105 -4 2 -2 83
EBITDA 238 120 3 -1 84
Result for the period 123 15 -14 1 69
Earnings per share, SEK 3.75 0.46 -0.43 0.02 2.12
Cash and cash equivalents 44 44 178 178 93
Investments 442 232 21 6 205

 

For further information, please contact  

Magnus Nordin, Managing Director, phone +46 8 679 49 95; magnus@tethysoil.com or Morgan Sadarangani, CFO, phone +46 8 679 49 91; morgan@tethysoil.com

 

Tethys Oil is a Swedish energy company focused on exploration and production of oil and natural gas. Tethys Oil's core area is Oman, where the company is one of the largest onshore oil and gas concession holders. Tethys Oil also have exploration and production assets onshore France, Lithuania and Sweden.

The shares are listed on First North (TETY) in Stockholm. Remium AB is Certified Adviser.

Bilagor

Om Tethys Oil

Tethys Oil är ett svenskt oljebolag med fokus på onshoreområden med kända oljefynd. Tethys kärnområde är Oman, där bolaget har 22 miljoner fat i bevisade och sannolika oljereserver och 17 miljoner fat i betingade resurser 2C. Under 2017 hade Tethys Oil en genomsnittlig oljeproduktion om 12 162 fat om dagen från Block 3&4. Tethys Oil har också prospekteringstillgångar onshore Frankrike och Litauen och viss produktion i Litauen. Aktierna är noterade på Nasdaq Stockholm (TETY).