Tethys Petroleum Stock Price, News & Analysis

Tethys Petroleum (TSXV: TPL) provided a comprehensive operational update and addressed a potential acquisition offer. The company reported oil production of 345 tons per day from three wells and gas production of 200,000 m3 per day from 20 wells. A Central Processing Facility upgrade is underway, expected to increase oil production to 500 tons per day.

Notably, Fincraft Group LLP submitted a non-binding letter of intent to acquire all outstanding Tethys shares at CAD 1.38 per share. The Board formed a special committee to review the proposal while refuting several claims made by Fincraft regarding board experience and company progress. The company also faces legal challenges, including a rejected claim for the Akkulka Oil contract extension and ongoing arbitration proceedings regarding DSFK payment and share cancellation.

Tethys Petroleum (TSXV: TPL) reported strong Q2 2025 results with oil and gas sales increasing 28% to $6.1 million from $4.8 million in 2024, driven by increased oil production. The company achieved a net profit of $1.3 million, up from $1 million in 2024.

Current operations show oil production averaging 330 tons per day from three wells, while gas production temporarily decreased to 180,000 m³ per day due to a compressor breakdown. The company has initiated several infrastructure projects, including a Phase II Central Processing Facility upgrade and a second gas compressor purchase.

Additionally, Tethys signed key amendments to exploration contracts for Diyar, Zhanasu, and Nurzhau blocks, extending the decision deadline to July 1, 2027 for deep well drilling operations.

Tethys Petroleum (TSXV: TPL) held its Annual General Meeting on August 11, 2025, where shareholders voted on several key resolutions. Four directors were successfully elected to the board: Adeola Ogunsemi, Mattias Sjoborg, Don Streu (with 99.9% approval), and William Wells, each receiving 54.9% of votes. Three proposed directors - Askar Ismailov, Paul J. Ostling, and Piers Johnson - were not elected.

A significant development was announced regarding an arbitration award issued on May 13, 2025, ordering the cancellation of 18 million Tethys shares previously issued to Olisol Petroleum. This affects shares subsequently transferred to Gazexport Limited, resulting in the exclusion of 12,987,381 shares (74.06%) from Gazexport Limited's voting rights at the meeting.

Tethys Petroleum (TSXV: TPL) has received director nomination notices ahead of its August 11, 2025 annual general meeting. Fincraft Group LLP has nominated Askar Ismailov, while Gazexport Limited has put forward Paul J. Ostling and Piers Johnson as director nominees.

Ostling brings extensive experience as a former Ernst and Young attorney with expertise in telecoms, industrial mining chemicals, and global distribution. Johnson, trained in petroleum business, founded Oilfield Production Consultants Limited and has significant experience in petroleum and reservoir engineering.

Tethys Petroleum (TSXV: TPL) provided an operational update from Kazakhstan, reporting current oil production of 330 tons per day from three wells and gas production of 200,000 m3 per day from 20 wells.

The company outlined a three-phase expansion plan including: upgrading the Central Processing Facility, doubling gas utilization capacity to 50,000 m3 per day by September 2025, and increasing oil processing capacity to 2,000 tons per day with a new gas processing plant. The GPP project is expected to take 12 months and will increase gas utilization to 150,000 m3 per day.

Additionally, Tethys completed seismic fieldwork at Diyar block and received clarification on an arbitration ruling regarding 1.4 billion KZT payment from DSFK and the cancellation of 18 million shares held by Olisol Petroleum.

Tethys Petroleum (TSXV: TPL) reported mixed Q1 2025 financial results, with oil and gas sales doubling to $4.0 million from $1.9 million in Q1 2024, and a net profit of $0.3 million compared to a $1 million loss last year. Despite the improvement, revenues fell short of management expectations due to multiple operational challenges.

The company faces production constraints including logistics issues, gas-to-oil ratio (GOR) increases requiring reduced production to ~250 tons/day (below the licensed 485 tons/day), and mini-refinery buyers' limitations following naptha export elimination. Additionally, spring weather conditions affected road accessibility.

Tethys is currently conducting seismic surveys through its DMS subsidiary on Aral 4 and Diyar blocks, with plans to identify and drill exploration wells by end of 2026, subject to regulatory approvals.

Tethys Petroleum (TSXV: TPL) has won a significant arbitration case initiated in November 2023 at the International Arbitration Centre. The ruling on May 13, 2025, declares that a Settlement Deed and Release Agreement from December 2019 is no longer binding. The arbitrator ordered DSFK Special Finance Company LLP to pay Tethys 1.43 billion KZT and mandated the cancellation of 18 million shares issued to Olisol Petroleum Limited. Additionally, DSFK and Olisol must pay 50,000 EUR and 50,000,000 KZT towards arbitration and legal costs. Tethys is now determining steps to enforce the arbitration ruling.

Tethys Petroleum has released its Annual Results for 2024, revealing significant financial challenges. The company's oil and gas sales dropped 58% to $15.2 million in 2024, compared to $36.5 million in 2023, due to reduced production volume and lower prices.

The company reported a net loss of $19.1 million in 2024, contrasting with a profit of $9.7 million in 2023. Two major non-cash charges impacted the results: an impairment of Kul-Bas contract area costs and currency translation losses from the Kazakhstan tenge's depreciation against the US dollar.

Despite these setbacks, management maintains a positive outlook. The company operates with minimal debt and holds valuable assets. While acknowledging challenges in developing oil handling, gas utilization, operations, and logistics to boost production, management remains confident in addressing these issues over time.

Tethys Petroleum (TSXV: TPL) has provided an operational update from Kazakhstan. The company has resumed gas production at Akkulka and Kyzloi fields on April 10, 2025, with 20 out of 21 wells operational, achieving stable production of 205,000-210,000 cubic meters per day. Oil production faced temporary reductions in March due to severe weather affecting shipments, but has recently averaged 320 tons daily.

The company's latest reserve report by McDaniel and Associates Consultants shows that while total proved and probable reserves remain stable year-over-year, the Net Present Value (NPV) at 10% discount rate decreased to $560 million from $629 million in 2023, representing an 11% decline. This reduction is attributed to lower Brent crude prices, wider Brent export differentials, and government restrictions on refined product exports impacting domestic refinery pricing.