• Tethys held US$41.5 mm in cash and no debt at YE22.
• Tethys is embarking on a potentially transformational drilling programme in 2023. The company has disclosed for the first time prospective resources at Block 58, with 184 mmbbl (mean) estimated across three prospects in the Fahd area. The prospects cover multiple sands (Buah, Ara and Khufai), which increase the probability of each well to encounter oil in at least one sand. The most material sand is the Buah with ~100 mmbbl of prospective r ....
07 Feb 2023
Tethys Oil AB (SSE: TETY): >US$40 mm in net cash, 9% dividend yield, >120 mmbbl targeted by the drill bit in 2023
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Tethys Oil AB (SSE: TETY): >US$40 mm in net cash, 9% dividend yield, >120 mmbbl targeted by the drill bit in 2023
- Published:
07 Feb 2023 -
Author:
Stephane Foucaud -
Pages:
5
• Tethys held US$41.5 mm in cash and no debt at YE22.
• Tethys is embarking on a potentially transformational drilling programme in 2023. The company has disclosed for the first time prospective resources at Block 58, with 184 mmbbl (mean) estimated across three prospects in the Fahd area. The prospects cover multiple sands (Buah, Ara and Khufai), which increase the probability of each well to encounter oil in at least one sand. The most material sand is the Buah with ~100 mmbbl of prospective r ....