Report for the period 1 January 2012 – 31 March 2012

Highlights
  • Result for the first quarter 2012 amounted to TSEK 107,601
  • Net sales of TSEK 144,710 during first quarter 2012
  • Net sales and result impacted by December 2011 lifting conducted in January
    2012 amounting to TSEK 37,702
  • Tethys Oil’s share of oil production before government take from Block 3
    and 4 during the first quarter 2012 amounted to 284,481 barrels
  • Earnings per share amounted to SEK 3.31
  • Five new Farha fault blocks drilled along the Farha trend in 2012 – three
    encountered oil
  • Directed new share issues of MSEK 120 completed in May 2012
  • Cash and cash equivalents as per 31 March 2012 amounted to TSEK 67,947
    (TSEK 93,105)


(For full report, see attached file)

 

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 AB (publ)

Tethys Oil is a Swedish energy company focused on identification and
development for production of oil and natural gas assets. Tethys Oil’s core
area is the Sultanate of Oman, where the company is the second largest onshore
oil and gas concession-holder with licence interest in three onshore blocks.
Tethys Oil also has licence interests onshore France, Lithuania and Sweden.
Tethys Oil’s strategy is to invest in projects in areas with known oil and
natural gas discoveries that have not been properly appraised using modern
technology. In this way, high returns can be achieved with limited risk. The
shares are listed on First North (TETY) in Stockholm. Remium AB is the
company’s Certified Adviser.

About Tethys Oil

Tethys Oil is a Swedish oil company with focus on onshore areas with known oil discoveries. Tethys Oil's core area is Oman, where the company holds 2P Reserves of 25 mmbo and 2C Contingent Resources of 13 mmbo and had an average oil production of 11,767 barrels per day from Blocks 3&4 during 2018. Tethys Oil also has onshore exploration licences in Lithuania and France and some production in Lithuania. The shares are listed on Nasdaq Stockholm (TETY).