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Sales update first quarter 2015

2015-04-21T08:24:00 CET

Tethys Oil's net sales amounted during the first quarter 2015 to MSEK 163. The average selling price during the quarter was USD 63.8 per barrel and 308,892 barrels were sold. As per 31 March 2015, the underlift position amounted to 80,924 barrels (overlift of 12,828 barrels as per 31 December 2014). All oil sales relate to Blocks 3&4 in Oman, where Tethys Oil holds 30 per cent of the licence.

Tethys Oil's share Blocks 3&4 Net sales of oil and gas

(MSEK)
Average selling price

(USD/bbl)
Net sales

(bbl)*
Production

(bbl)**
Over-/underlift

(bbl)***
Q1 2015 163 63.8 308,892 774,315 -80,924
Q4 2014 310 97.1 434,035 757,730 12,828
Q3 2014 296 107.6 399,352 762,375 -27,188
Q2 2014 245 105.9 350,059 647,569 -30,105
Q1 2014 195 106.6 280,782 597,979 -43,428
Full year 2014 1,046 103.9 1,464,228 2,765,654 12,828

 

* After government take

** Before government take

*** Volumes sold do not always correspond to Tethys Oil's share of production after government take during a period. The difference is called over-/underlift. The over-/underlift position is stated as per the end of each quarter. Underlift is stated as a negative number.

Tethys also has some production from Lithuania. The result from the Lithuanian production is reported in the Group's income statement as net profit/loss from associates.

Three month report 2015 (January - March 2015) will be disclosed on 5 May 2015.

 

For further information, please contact

Magnus Nordin, managing director, phone +46 8 505 947 00

Morgan Sadarangani, CFO, phone +46 8 505 947 01

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The information in this press release has been made public by the Company in accordance with the Securities Market Act and/or the Financial Instruments Trading Act.

 

Tethys Oil AB (publ)

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 has exploration and production assets onshore France and Lithuania. The shares are listed on Nasdaq Stockholm (TETY).

Website: www.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).