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First quarter report 2013

2013-05-07T08:40:00 CET

FIRST QUARTER 2013

  • Production from Oman and Lithuania of 368,481 barrels corresponding to 4,094 barrels per day
  • Exploration well B4EW4 encountered oil and flowed close to 3,000 bopd on test
  • Tethys Oil books the company's first reserves in Oman - 14.3 mmbo of 2P-reserves
  • Tethys receives MUSD 10 bonus payment from Mitsui
  • Net sales of MSEK 146 (MSEK 145)
  • Net result after tax MSEK 105 (MSEK 108)
  • Earnings per share before and after dilution of SEK 2.94 (SEK 3.31)                              

 

SUBSEQUENT EVENTS

  • Lithuania exploration well spudded in April
  • Tethys Oil approved for listing on NASDAQ OMX Stockholm
  • A second well is being drilled on the B4EW4 structure onshore Oman
  • Production from Oman in April 2013 of 129,916 barrels corresponding to 4,331 barrels per day

 

MSEK (unless specifically stated) 1 Jan 2013 - 31 Mar 2013  3 months 1 Jan 2012 - 31 Mar 2012  3 months 1 Jan 2012 - 31 Dec 2012  12 months
Production, before government take (bbl) 368,481 299,123 1,399,518
Net sales, after government take (bbl) 209,538 195,422 776,248
Average selling price per barrel, USD 107.63 108.61 110.35
Net sales of oil and gas 146 145 584
Operating result 124 109 336
EBITDA 152 119 509
Result for the period 105 108 314
Earnings per share before and after dilution, SEK 2.94 3.31 9.11
Cash and cash equivalents 270 68 248
Shareholders' equity 949 559 860
Long term debt 418 3 417
Investments 35 210 875

   

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 NASDAQ OMX Stockholm (TETY).

 

(For full report, see attached file)

 

For further information, please contact  

Magnus Nordin, Managing Director, phone +46 8 505 947 02; magnus@tethysoil.com

or

Morgan Sadarangani, CFO, phone +46 8 505 947 01; morgan@tethysoil.com

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).