Welcome to our dedicated page for Tethys Petroleum news (Ticker: TETHF), a resource for investors and traders seeking the latest updates and insights on Tethys Petroleum stock.
Tethys Petroleum Ltd. (TETHF) delivers energy solutions through focused oil and gas exploration in Central Asia's resource-rich basins. This news hub provides investors with essential updates on operational developments, regulatory milestones, and strategic initiatives shaping the company's growth in Kazakhstan and neighboring regions.
Access timely reports on exploration progress, production enhancements, and infrastructure developments critical to understanding Tethys' operational footprint. Our curated collection includes permit approvals, partnership announcements, and technical updates that directly impact the company's ability to unlock hydrocarbon reserves in challenging environments.
Key updates cover gas flaring permissions, production facility commissioning, and reservoir testing results. Investors will find detailed information on regulatory compliance achievements and operational adaptations that demonstrate Tethys' expertise in navigating complex energy markets.
Bookmark this page for structured access to operational disclosures and strategic updates from one of Central Asia's most active petroleum explorers. Monitor critical developments in gas marketing agreements, infrastructure scaling, and environmental compliance – all factors influencing Tethys' position in the upstream energy sector.
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.
Tethys Petroleum (TSXV: TPL) has provided several key updates. The company withdrew its application to transition Contract No. 1897 for the Kul Bas field to Production Period, as current distribution channels under testing production contract offer higher revenue potential. The testing production contract expires on July 26, 2026.
Tethys entered an agreement with NatGaz Company LLP for natural gas sales, receiving a prepayment and expecting to resume gas production around February 15, 2025. At current pricing, gas revenue is anticipated to generate over $700,000/month. The company plans to rehire gas production employees effective February 7, 2025.
The company announced a dividend of $0.01/share (USD) for shareholders of record on February 10, with payment expected on February 20, 2025. This marks the first dividend since February 2023, following delays in payments from Kazakh Gas and production contract approval.
Tethys Petroleum (TSXV: TPL) provided updates on regulatory progress and operations at the Kul Bas oil field. The company received ecological and environmental approvals allowing production up to 490 tons/day until July 26, 2026, with domestic-only sales requirement. Tethys submitted an application to transition to Production Period, potentially extending operations until 2048 with export rights.
The company completed two significant operational milestones: the Central Processing Facility (CPF) commissioning on November 19, 2024, and Gas Utilization Facilities (GUF) on January 17, 2025. These facilities help manage associated gas from the first three production wells (KBD-2, KBD-6, KBD-7). Production faces constraints from gas flaring limitations and logistics challenges. Currently selling to mini-refineries, the company's pricing is impacted by Kazakhstan's prohibition on naphtha exports.
Tethys Petroleum (TSXV: TPL) has released its Q3 2024 interim financial results. The company reported a 52% decrease in oil and gas sales to $5.4 million, compared to $11.1 million in the same period of 2023, primarily due to reduced oil production. The company recorded a net loss of $0.6 million, contrasting with a profit of $4.2 million in 2023. Operationally, production commenced at KBD-6 on November 19th and at KBD-2 on November 22nd, with KBD-07 scheduled to start production the following week.
Tethys Petroleum (TSXV: TPL) has secured an Ecology permit for oil production at Kulbas, valid through December 31, 2024. The company is preparing to initiate production from wells KBD #2 and KBD #6, with KBD #7 connection commissioning scheduled for December 1, 2024. The 2025 Ecology permit application is under review, while the gas flaring permit for 2025 has been obtained.
Tethys Petroleum (TSXV: TPL) held its Annual General Meeting on November 12, 2024, where shareholders approved all proposed resolutions. The meeting included the receipt of financial statements and auditors report, election of directors, and appointment of auditors. Four directors were elected with overwhelming support of approximately 99.9% of votes: Adeola Ogunsemi, Mattias Sjoborg, Don Streu, and William Wells, each receiving over 43.6 million votes in favor.
Tethys Petroleum (TSXV: TPL) has received a important gas flaring permit for its Kazakhstan operations. The company now awaits the final Ecology permit, expected by November 18, 2024, which will enable oil production from wells KBD #2, KBD #6, and KBD #7. Tethys is also working with the Ministry of Energy to secure a Production Contract that would extend the Kul Bas oil field's production period until July 2048 and grant oil export rights.
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