Second quarter and Six months report 2012


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  1 Jan 2012 -  1 Apr 2012 -  1 Jan 2011 -  1 Apr 2011  1 Jan 2011
specifically  30 Jun        30 Jun        30 Jun        - 30 Jun    - 31 Dec
stated)       2012          2012          2011          2011   3    2011   12
              6 months      3 months      6 months      months      months

Production,
before        586,562       302,081       83,249        64,585      423,469
government
take (bbl)

Net sales,
after         380,416       184,994       20,903        4,871       147,228
government
take (bbl)

Average
selling price 113.83        119.34        92.99         105.80      107.37
per barrel,
USD

Net sales of  298           154           13            3           104
oil and gas

Operating     105           -4            2             -2          83
result

EBITDA        238           120           3             -1          84

Result for    123           15            -14           1           69
the period

Earnings per  3.75          0.46          -0.43         0.02        2.12
share, SEK

Cash and cash 44            44            178           178         93
equivalents

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.

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).