GRAND CAYMAN, CAYMAN ISLANDS — (Marketwired) — 08/14/13 — Tethys Petroleum Limited (“Tethys” or “the Company”) (TSX: TPL)(LSE: TPL) today announced its second quarter 2013 financial results. The Company reports financial results in accordance with International Financial Reporting Standards (“IFRS”).
Q2 Financial Highlights
Six Months 2013 Financial Highlights
The full Q2 Results together with a Management Discussion & Analysis have been filed with the Canadian securities regulatory authorities. Copies of the filed documents may be obtained via SEDAR at or on Tethys– website at . The increase in profit is primarily due to USD8.7 million of the gain arising from the Tajik farm-out in which USD63.4 million was received on June 18th, USD54.7 million being credited against non current assets and USD8.7 million booked to profit. The summary financial statements are attached to this press release.
The above highlights along with other financial details will be further discussed in a scheduled conference call. Details of the conference call can be found below:
Conference Call:
A conference call will be held at 8:00 AM Eastern Standard Time 1:00 PM British Summer Time on Thursday, August 15, 2013. The North American conference call number is 877 546 5020 and the outside North America conference call number is +1 857 244 7552. The conference call code to use is 80661286. Please call in about 10 minutes before the starting time in order to be patched into the call.
Webcast:
The call is being webcast and can be accessed at:
Tethys is focused on oil and gas exploration and production activities in Central Asia and the Caspian Region with activities currently in the Republics of Kazakhstan, Tajikistan and Uzbekistan. This highly prolific oil and gas area is rapidly developing and Tethys believes that significant potential exists in both exploration and in discovered deposits.
Note on non GAAP measures: “EBITDA adjusted for share based payments” is a non GAAP measure and is defined as Earnings before Interest, Tax, Depreciation, Amortization and share based payments. See the Management Discussion and Analysis for Q2 for a reconciliation to Profit / (Loss).
Contacts:
North America & Europe
Tethys Petroleum Limited
Sabin Rossi
Vice President Investor Relations
Asia Pacific
Tethys Petroleum Limited
Chris Justice
Communications Manager – Asia
FTI Consulting – London
Ben Brewerton / Natalia Erikssen
+44 207 831 3113
Tethys Petroleum Limited
Mobile site: