• Cash at the end of March has increased ~US$2.5 mm from YE20 to US$57 mm.
• Importantly this was achieved while the company ended the quarter in a 0.15 mmbbl underlift position. With higher oil prices taking two month to filter through to Tethys’ income statement, Tethys’ 1Q21 financials do not reflect the full positive impact of the strong oil price during 1Q21.
• With the reversal of the underlift position during 2Q21 and the payment by EOG of the residual proceeds associated with the transac ....
12 May 2021
Tethys Oil AB (SSE: TETY): Strong quarter, growing cashflow should boost shareholder distributions, busy 2H21.
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Tethys Oil AB (SSE: TETY): Strong quarter, growing cashflow should boost shareholder distributions, busy 2H21.
Tethys Oil AB (TETY:OME), 0 | Tethys Oil AB (0A1V:LON), 4,800
- Published:
12 May 2021 -
Author:
Stephane Foucaud -
Pages:
5
• Cash at the end of March has increased ~US$2.5 mm from YE20 to US$57 mm.
• Importantly this was achieved while the company ended the quarter in a 0.15 mmbbl underlift position. With higher oil prices taking two month to filter through to Tethys’ income statement, Tethys’ 1Q21 financials do not reflect the full positive impact of the strong oil price during 1Q21.
• With the reversal of the underlift position during 2Q21 and the payment by EOG of the residual proceeds associated with the transac ....