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    TPL   KYG876361257

TETHYS PETROLEUM LIMITED

(TPL)
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Tethys Petroleum Limited Announces Drilling Update

07/13/2021 | 07:12am EST

Tethys Petroleum Limited provided an update on current drilling activities. Tethys has completed drilling of the KBD-03 well and is moving storage tanks to the field to enable the production test. The initial log and core results are encouraging as oil shows were found in the three prospective zones. While the log and core results are encouraging, the production test will be needed toprovide confirmation on the productive capacity of each of the zones. It is anticipated that the storage tanks and facilities will be in place and production tests will start by the middle of August. If successful, it is anticipated that this well will be first tested from the Jurassic zone. The rig that was used on KBD-03 will be demobilized and set up to drill KBD-07. This well is approximately 700 meters to the southeast of KBD-02 and about 1,000 meters to the west of KBD-03. As of July 12, 2021 the KBD-06 well has been drilled to a depth of approximately 2,500 meters. This well should also be tested by the middle of August. The well also has encouraging log and core results. Upon completion, this rig will be moved to drill KBD-08. This well site is approximately 2,000 meters to the southeast of KBD-02. Tethys continues to progress in its application for a pilot production license for the Klymene field. When approved, this should allow for resumption of production from KBD-02. Management hopes to receive this approval by the end of August. Tethys (through its Kul-bas subsidiary) has also applied and received approval from the Ministry of Energy for three additional well sites (KBD-04, KBD-05 and KBD-09). No decision has been made at this time as to the planned timing of spudding these wells.


ę S&P Capital IQ 2021
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Financials
Sales 2020 13,0 M - -
Net income 2020 -38,5 M - -
Net Debt 2020 3,80 M - -
P/E ratio 2020 -0,92x
Yield 2020 -
Capitalization 58,8 M 58,9 M -
EV / Sales 2019 4,75x
EV / Sales 2020 4,34x
Nbr of Employees 280
Free-Float 51,6%
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Tethys Petroleum Limited Technical Analysis Chart | TPL | KYG876361257 | MarketScreener
Income Statement Evolution
Managers and Directors
William Paul Wells Executive Chairman & Chief Executive Officer
Casey Scott McCandless Chief Financial Officer
Adeola Ogunsemi Independent Non-Executive Director
Abay Amirkhanov Independent Non-Executive Director
Mattias Sjoborg Non-Executive Director
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