• 4Q20 financials were very strong with a US$9.6 mm positive change in working capital, leaving a net cash position of >US$55 mm at YE20.
• For the 9th year in a row, Tethys has increased its reserves in 2020 with the 2P reserves replacement ratio of 120% highlighting the quality of the company’s assets. YE20 2P and 3P reserves are respectively 26.9 mmbbl and 37.9 mmbbl (~+3% versus YE19 for both 2P and 3P reserves). The increase reflects the conversion of contingent resources into the reserves ....
10 Feb 2021
Tethys Oil AB (SSE: TETY): 120% reserves replacement, special dividend, entering busiest exploration drilling period in Tethys’ history
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Tethys Oil AB (SSE: TETY): 120% reserves replacement, special dividend, entering busiest exploration drilling period in Tethys’ history
Tethys Oil AB (TETY:OME), 0 | Tethys Oil AB (0A1V:LON), 4,800
- Published:
10 Feb 2021 -
Author:
Stephane Foucaud -
Pages:
5
• 4Q20 financials were very strong with a US$9.6 mm positive change in working capital, leaving a net cash position of >US$55 mm at YE20.
• For the 9th year in a row, Tethys has increased its reserves in 2020 with the 2P reserves replacement ratio of 120% highlighting the quality of the company’s assets. YE20 2P and 3P reserves are respectively 26.9 mmbbl and 37.9 mmbbl (~+3% versus YE19 for both 2P and 3P reserves). The increase reflects the conversion of contingent resources into the reserves ....