Second quarter 2013
• Production from Oman and Lithuania of 399,839 barrels corresponding to
4,394 barrels per day
• Tethys Oil approved for listing on NASDAQ OMX Stockholm
• Drilling program with 3 appraisal wells launched on B4EW4 structure on
Block 4 in Oman
• An additional drilling rig, the third in operation within the Block 3 and 4
area, has been employed
• Lithuania exploration well flows small amounts of oil and confirms presence
of an active petroleum system
• Net sales of MSEK 110 (MSEK 154)
• Net result after tax MSEK 39 (MSEK 15)
• Earnings per share before and after dilution of SEK 1.10 (SEK 0.46)
• Second quarter sales negatively impacted by timing differences following
over and under lift adjustments
• The investment budget has been extended from MSEK 300 to MSEK 355 to fund
appraisal drilling and additional seismic
Half year 2013
• Net sales of MSEK 257 (MSEK 298)
• Net result after tax MSEK 144 (MSEK 123)
• Earnings per share before and after dilution of SEK 4.04 (SEK 3.75)
Subsequent events
• Second appraisal well on B4EW4 structure has been drilled to its final
depth and encountered oil – testing in progress
• Tethys Oil’s share of production from Oman during July amounted to 139,998
barrels corresponding to 4,516 barrels per day
1 Jan 2013 – 1 Apr 2013 – 1 Jan 2012 1 Apr 2012 – 1 Jan 2012 –
MSEK (unless 30 Jun 30 Jun – 30 Jun 30 Jun 31 Dec
specifically 2013 2013 2012 2012 2012
stated) 6 months 3 months 6 3 months 12 months
months
Production,
before 768,321 399,839 586,562 302,081 1,345,854
government
take (bbl)
Net sales,
after 366,354 156,816 380,416 184,994 776,248
government
take (bbl)
Average
selling price 107.68 107.26 113.83 119.34 110.35
per barrel,
USD
Net sales of 257 110 298 154 584
oil and gas
Operating 173 49 122 -4 336
result
EBITDA 237 83 238 120 530
Result for 144 39 123 15 314
the period
Earnings per 4.04 1.10 3.75 0.46 9.11
share, SEK
Cash and cash 237 237 44 44 248
equivalents
Shareholders’ 990 990 704 704 860
equity
Long term 419 419 3 3 417
debt
Investments 149 114 442 232 875
(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
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).
