Tethys Petroleum Ltd V.TPL

Financials

[whothe]

What a sh__ show this company is. Just when things appear to be moving in the right direction - wham, smack in the face, go back to 'start', do not pass go, do not collect your money.

First all the trouble with the Olisol underhandedness whatever that was about that went on forever.

Then price controls by the government... -  -   

I am amazed at how messed up the world is overall - seems like everywhere people are sheisters - everyone wants their payola in one form or another !!! 

The Company has received a letter from the National gas company indicating that the price for gas is to be reduced to a range of $40-60 USD per thousand cubic meters. This is a significant reduction from the average gas price of approximately $114 USD per thousand cubic meter received in the fourth quarter of 2021.

The Company is reviewing options for future gas sales. The Company is also reevaluating the plans for seismic and drilling related expenses tied to new gas exploration given these pricing levels. Management does not anticipate that it can profitably develop and produce gas at the proposed prices.

[mjh9413]

Interesting but all is domestic sales, controlled by govt. No surprise with natgas given riots but oil is controlled as to tonnes in any eriod. Think 123,000 for 2022 so that is worth about $47MM or so using the the March sale number for 50,000 for $19MM (at $48.bbl vs $36 prior contract) but not sure if the 50,000 tonnes completed in April from a Dec 31st contract is part of 125,000 for 2022

[whothe]

Thanks, I was so perturbed by the turn of events I did not even register gas vs oil - still risky but at least not an imminent close of business looming.