Tethys Petroleum Ltd V.TPL

Alternate Symbol(s): TETHF

Energy Oil & Gas E&P

Tethys Petroleum Limited is an oil and gas exploration and production company focused on Central Asia and the Caspian Region with projects in Kazakhstan. Through its subsidiaries, TethysAralGas LLP and Kul-Bas LLP, it operates over four contracts in the North Ustyurt basin to the west of the Aral Sea adjacent to the prolific Pre-Caspian basin. It has a 100% working interest in the Kyzyloi Production Contract (449 square kilometers (km2)), Akkulka Exploration License and Contract (827 km2), Akkulka Production Contract (396 km2) and Kul-Bas Exploration and Production Contract (7,632 km2). The Kul-Bas exploration and production contract area surrounds the Akkulka block, which has an exploration area of over 7,632 km2. Kyzyloi and Akkulka gas development fields are tied into the Bukhara-Urals gas pipeline by an over 56-kilometer pipeline owned and built by the Company. The Doris oil field provides over two oil-bearing zones, the lower zone and an upper, lower cretaceous sandstone zone.

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Tethys Petroleum Ltd

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Comment by CalifDreamingon Jul 10, 2012 4:32pm

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Post# 20099561

RE: RE: Tethys Petroleum's Robson on Central Asia

You need to recharge the batteries in your calculator. They get ~$30 bbl wellhead price. Opex is ~$14 bbl per Q1 numbers, so netbacks are ~$16 bbl (but are declining with world oil price decline). That gives operational netbacks around $2.5MM month at 5K bopd at higher oil prices. Probably closer to $2MM/mo now.

With G&A around $5MM per quarter, plus all the other costs, net effect is they barely break even at 5K bopd.

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