Financial update Fourth Quarter 2019
Tethys Oil provides a financial update ahead of its fourth quarter and year-end report for 2019. The financial result for the fourth quarter 2019 will be impacted by a reduction of net entitlement share of oil production from 52 to 48 percent and exploration costs of MUSD 8.0.Entitlement share of oil productionTethys Oil’s interest in Blocks 3&4 in the Sultanate of Oman is governed by an Exploration and Production Sharing Agreement (“EPSA”). Under the terms of the EPSA, Tethys Oil’s entitlement share of oil production, the share of production after government take, is determined by the