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Tethys Petroleum (TSXV: TPL) has released its Annual Results for 2023, reporting a decrease in oil and gas sales by 44% to $36.5 million from $65.5 million in 2022. The profit for 2023 was $9.7 million compared to $12.3 million in 2022. Operations are ongoing with test production from KBD-10 and KBD-11 wells starting on April 8th, averaging around 340 tons per day. The Company is working towards obtaining a commercial license for oil production and is engaged in gas contract negotiations with QazaqGaz, with gas fields currently shut in.
