Financial highlights
Oil and gas sales decreased by 44% to
Operations update
Test production from the KBD-10 and KBD-11 wells commenced on
Regulatory update
The Company is in the process of trying to obtain the commercial license for the production and sale of oil, and is hoping to be able receive the necessary approvals and commence production during the second quarter.
Gas Contract Negotiations
The Company is continuing to pursue a resolution with QazaqGaz in regards to payment and price for gas production. The gas fields remains shut in.
About Tethys
Tethys is focused on oil and gas exploration and production activities in
Disclaimer
Some of the statements in this document are forward-looking. No part of this announcement constitutes, or shall be taken to constitute, an invitation or inducement to invest in the Company or any other entity and shareholders of the Company are cautioned not to place undue reliance on the forward-looking statements. Save as required by applicable law, the Company does not undertake to update or change any forward-looking statements to reflect events occurring after the date of this announcement.
Neither the
Contact:
Chief Financial Officer
901-763-4001
info@tethys-group.com
www.tethys-group.com
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