Tethys Petroleum Press Release (TPL)
Rhea-AI Summary
Tethys Petroleum (OTC: TETHF) released a Kazakhstan operations update and a McDaniel reserve report as of December 31, 2025. Total proved and total proved+probable volumes remain broadly unchanged versus 2024, while discounted Net Present Value (10% after tax) fell to $474 million from $560 million (≈15% decline).
The report shows 2025 net proved reserves of 46,686 mboe and total proved+probable of 84,844 mboe. Management attributes lower NPV to weaker Brent and domestic prices and a high fiscal/export tax burden.
Positive
- Total proved reserves at 46,686 mboe (2025)
- Total proved+probable reserves at 84,844 mboe (2025)
- Reserve volumes broadly stable year-over-year
Negative
- NPV(10%) after tax down to $474 million (≈15% decline)
- High fiscal and export taxes limit international price benefits
- Lower Brent and domestic prices reduced reserve valuation
Corporate update
Grand Cayman, Cayman Islands--(Newsfile Corp. - April 10, 2026) - Tethys Petroleum Limited (TSXV: TPL) ("Tethys" or the "Company") is pleased to provide an update on the Company's operations in the Republic of Kazakhstan.
Reserve report
Tethys engaged McDaniel and Associates Consultants to provide a reserve report as of December 31, 2025. This report has now been completed and was prepared in compliance with NI51-101, Standards of Disclosure for Oil and Gas Activities and the COGE Handbook. Overall, the total proved and total proved + probable reserves are about the same as last year, but Net Present Value calculations are lower primarily due to lower oil prices. The Total Proved and Probable NPV using a
| 2025 | 2024 | |
| Reserve Category | Barrel of Oil Equivalent (net Mboe) | Barrel of Oil |
| Total Proved Reserves | 46,686 | 46,960 |
| Total Proved and Probable | 84,844 | 85,554 |
| Total Proved, Probable, and Possible | 125,332 | 126,802 |
| 2025 | 2024 | |
| Total of NPV after taxes ($M US Dollars) | Total of NPV after taxes ($M US Dollars) | |
| Reserve Category | ||
| Total Proved Reserves | ||
| Total Proved and Probable | ||
| Total Proved, Probable, and Possible |
While the volumes of Total Proved and Total Proved + Probable reserves remain broadly equivalent to the prior year, the Net Present Value (NPV) has declined. This reduction is primarily due to a decrease in Brent crude prices and lower domestic oil prices. The fiscal and regulatory framework continues to impose a significantly high tax and cost burden on exports, limiting the benefit of accessing international markets.
About Tethys
Tethys is focused on oil and gas exploration and production activities in Central Asia and the Caspian Region.
Disclaimer
Some of the statements in this document are forward-looking. No part of this announcement constitutes, or shall be taken to constitute, an invitation or inducement to invest in the Company or any other entity and shareholders of the Company are cautioned not to place undue reliance on the forward-looking statements. Save as required by applicable law, the Company does not undertake to update or change any forward-looking statements to reflect events occurring after the date of this announcement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information:
| Tethys Petroleum Casey McCandless Chief Financial Officer 901-763-4001 | info@tethys-group.com www.tethys-group.com |
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/292040