GRAND CAYMAN, CAYMAN ISLANDS — (Marketwire) — 05/15/12 — Tethys Petroleum Limited (“Tethys” or “the Company”) (TSX: TPL)(LSE: TPL) today announced its first quarter 2012 financial results. The results are underlined by a 45% increase in revenues over the first quarter of last year.
The Company reports financial results in accordance with International Financial Reporting Standards (“IFRS”).
RECENT HIGHLIGHTS
The full Q1 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 summary financial statements are attached to this press release.
The above highlights along with other operational and 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 Wednesday, May 16, 2012. The North American conference call number is 800-261-3417 and the outside North America conference call number is +1 617-614-3673. The conference call code to use is 26577200 . 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:
Notes to Editors
Tethys is focused on oil and gas exploration and production activities in Central Asia 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.
This press release contains “forward-looking information” which may include, but is not limited to, statements with respect to our operations. Such forward-looking statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions. See our Annual Information Form for the year ended December 31, 2011 for a description of risks and uncertainties relevant to our business, including our exploration activities. A barrel of oil equivalent (“boe”) conversion ratio of 6,000 cubic feet (169.9 cubic metres) of natural gas = 1 barrel of oil has been used and is based on the standard energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.
Contacts:
North America
Tethys Petroleum Limited
Sabin Rossi, Vice President Investor Relations
Office: +1 416-941-1257
+1 416-947-0167 (FAX)
Europe
Tethys Petroleum Limited
Veronica Zhuvaghena, Vice President Corporate Communications
Office: +44 1481 725911
+44 1481 725922 (FAX)
Corporate Brokers:
FirstEnergy
Hugh Sanderson / Derek Smith
Office: + 44 207 448 0200
Seymour Pierce
Richard Redmayne / Jonathan Wright / Stewart Dickson
Office: +44 207 107 8000
Asia Pacific:
Quam IR
Anita Wan
Office phone/fax: +852 2217 2999
FTI Consulting
Ben Brewerton / Edward Westropp
Office: +44 207 831 3113
Tethys Petroleum Limited
Web:
Mobile site: m.tethyspetroleum.com