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First quarter report 2013

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FIRST QUARTER 2013

  • Production from Oman and Lithuania of 368,481 barrels corresponding to
    4,094 barrels per day
  • Exploration well B4EW4 encountered oil and flowed close to 3,000 bopd on
    test
  • Tethys Oil books the company’s first reserves in Oman – 14.3 mmbo of
    2P-reserves
  • Tethys receives MUSD 10 bonus payment from Mitsui
  • Net sales of MSEK 146 (MSEK 145)
  • Net result after tax MSEK 105 (MSEK 108)
  • Earnings per share before and after dilution of SEK 2.94 (SEK 3.31)
                                 

 

SUBSEQUENT EVENTS

  • Lithuania exploration well spudded in April
  • Tethys Oil approved for listing on NASDAQ OMX Stockholm
  • A second well is being drilled on the B4EW4 structure onshore Oman
  • Production from Oman in April 2013 of 129,916 barrels corresponding to
    4,331 barrels per day

 


MSEK (unless          1 Jan 2013 - 31    1 Jan 2012 - 31    1 Jan 2012 - 31 Dec
specifically stated)  Mar 2013           Mar 2012           2012          12
                      3 months           3 months           months

Production, before    368,481            299,123            1,399,518
government take (bbl)

Net sales, after      209,538            195,422            776,248
government take (bbl)

Average selling price 107.63             108.61             110.35
per barrel, USD

Net sales of oil and  146                145                584
gas

Operating result      124                109                336

EBITDA                152                119                509

Result for the period 105                108                314

Earnings per share
before and after      2.94               3.31               9.11
dilution, SEK

Cash and cash         270                68                 248
equivalents

Shareholders’ equity  949                559                860

Long term debt        418                3                  417

Investments           35                 210                875


   

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 NASDAQ OMX Stockholm (TETY).

 

(For full report, see attached file)

 

For further information, please contact  

Magnus Nordin, Managing Director, phone +46 8 505 947 02; magnus@tethysoil.com

or

Morgan Sadarangani, CFO, phone +46 8 505 947 01; morgan@tethysoil.com

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