• The 3Q20 financials were inconsequential with negative working capital movements to be recovered in 4Q20. The company held US$48 mm in cash at the end of the period; which is in line with our expectations.
• The 4Q20 capex at Block 3 & 4 is likely to be similar to 3Q20 capex (U$6.5 mm), which is lower than what we were anticipating (US$10 mm).
• The Thameen prospect is expected to be spudded in December.
• The company has added the Anan-1 exploration well to be drilled in 4Q20 at Blocks 3 & 4 ....
04 Nov 2020
Tethys Oil AB (SSE: TETY): Adding near term exploration
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Tethys Oil AB (SSE: TETY): Adding near term exploration
- Published:
04 Nov 2020 -
Author:
Stephane Foucaud -
Pages:
5
• The 3Q20 financials were inconsequential with negative working capital movements to be recovered in 4Q20. The company held US$48 mm in cash at the end of the period; which is in line with our expectations.
• The 4Q20 capex at Block 3 & 4 is likely to be similar to 3Q20 capex (U$6.5 mm), which is lower than what we were anticipating (US$10 mm).
• The Thameen prospect is expected to be spudded in December.
• The company has added the Anan-1 exploration well to be drilled in 4Q20 at Blocks 3 & 4 ....