Revised Capital Expenditure Guidance and COVID-19 Update
In response to the sharp drop in oil prices and increased uncertainty resulting from the Novel Coronavirus (COVID-19) pandemic, Tethys Oil has put in place plans to enable reduced expenditure in 2020. While maintaining an unchanged production guidance, the range for 2020 capital expenditure is expected to be lower and somewhat wider than previously communicated.“The situation we are currently experiencing is unprecedented. The COVID-19 pandemic and the extreme volatility in energy prices provides a tremendous challenge to the entire world. Tethys Oil is working closely with all relevant