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ROGTEC Magazine - Russian Oil & Gas Technologies - News, Reviews & Articles

Tethys Petroleum: Revenues Increased by 45%

Wednesday, May 16th, 2012

Tethys Petroleum Limited announced its first quarter 2012 financial results. The results are underlined by a 45% increase in revenues over the first quarter of last year.

The Company reports financial results in accordance with International Financial Reporting Standards (“IFRS”).

RECENT HIGHLIGHTS

--  Q1 2012 Total Revenue was USD$6.49 million (Q1 2011: USD$4.48 million)
--  Q1 2012 average oil and gas production was 5,117 barrels of oil
    equivalent per day (Q1 2011: 4,531 barrels of oil equivalent per day)
--  Q1 2012 average oil production from the Doris field in Kazakhstan was
    1,038 barrels of oil per day (Q1 2011; 337 barrels of oil per day)
--  Q1 2012 average gas production was 566 Mcm/d (Q1 2011: 511 Mcm/d)

The full Q1 Results together with a Management Discussion & Analysis have been filed with the Canadian securities regulatory authorities. Copies of the filed documents may be obtained via SEDAR at www.sedar.com or on Tethys’ website at www.tethyspetroleum.com. The summary financial statements are attached to this press release.

The above highlights along with other operational and financial details will be further discussed in a scheduled conference call. Details of the conference call can be found below:

Conference Call:

A conference call will be held at 8:00 AM Eastern Standard Time 1:00 PM British Summer Time on Wednesday, May 16, 2012. The North American conference call number is 800-261-3417 and the outside North America conference call number is +1 617-614-3673. The conference call code to use is 26577200 . Please call in about 10 minutes before the starting time in order to be patched into the call.

Webcast:

The call is being webcast and can be accessed at:

http://phoenix.corporate-ir.net/phoenix.zhtml?p=irol-eventDetails&c=213714&eventID=4773558

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