Tethys Petroleum Corporate Update
Tethys Petroleum (TSXV: TPL) has provided an operational update from Kazakhstan. The company has resumed gas production at Akkulka and Kyzloi fields on April 10, 2025, with 20 out of 21 wells operational, achieving stable production of 205,000-210,000 cubic meters per day. Oil production faced temporary reductions in March due to severe weather affecting shipments, but has recently averaged 320 tons daily.
The company's latest reserve report by McDaniel and Associates Consultants shows that while total proved and probable reserves remain stable year-over-year, the Net Present Value (NPV) at 10% discount rate decreased to $560 million from $629 million in 2023, representing an 11% decline. This reduction is attributed to lower Brent crude prices, wider Brent export differentials, and government restrictions on refined product exports impacting domestic refinery pricing.
Tethys Petroleum (TSXV: TPL) ha fornito un aggiornamento operativo dal Kazakistan. La società ha ripreso la produzione di gas nei giacimenti di Akkulka e Kyzloi il 10 aprile 2025, con 20 pozzi su 21 operativi, raggiungendo una produzione stabile di 205.000-210.000 metri cubi al giorno. La produzione di petrolio ha subito riduzioni temporanee a marzo a causa di condizioni meteorologiche avverse che hanno influenzato le spedizioni, ma recentemente ha mantenuto una media di 320 tonnellate giornaliere.
Il più recente rapporto sulle riserve della società, redatto da McDaniel and Associates Consultants, mostra che mentre le riserve totali provate e probabili rimangono stabili rispetto all’anno precedente, il Valore Attuale Netto (NPV) con un tasso di sconto del 10% è sceso a 560 milioni di dollari da 629 milioni nel 2023, registrando un calo dell’11%. Questa diminuzione è attribuita ai prezzi più bassi del Brent, ai maggiori differenziali di esportazione del Brent e alle restrizioni governative sulle esportazioni di prodotti raffinati che influenzano i prezzi delle raffinerie domestiche.
Tethys Petroleum (TSXV: TPL) ha proporcionado una actualización operativa desde Kazajistán. La compañía reanudó la producción de gas en los campos de Akkulka y Kyzloi el 10 de abril de 2025, con 20 de 21 pozos operativos, alcanzando una producción estable de 205,000-210,000 metros cúbicos por día. La producción de petróleo experimentó reducciones temporales en marzo debido a condiciones climáticas severas que afectaron los envíos, pero recientemente ha promediado 320 toneladas diarias.
El último informe de reservas de la compañía, elaborado por McDaniel and Associates Consultants, muestra que aunque las reservas probadas y probables totales se mantienen estables año tras año, el Valor Presente Neto (NPV) a una tasa de descuento del 10% disminuyó a 560 millones de dólares desde 629 millones en 2023, representando una caída del 11%. Esta reducción se atribuye a los menores precios del crudo Brent, mayores diferenciales de exportación del Brent y restricciones gubernamentales sobre las exportaciones de productos refinados que afectan los precios en las refinerías locales.
Tethys Petroleum (TSXV: TPL)이 카자흐스탄에서 운영 현황을 업데이트했습니다. 회사는 2025년 4월 10일 Akkulka와 Kyzloi 유전에서 가스 생산을 재개했으며, 21개 중 20개의 유정이 가동되어 일일 205,000~210,000 입방미터의 안정적인 생산을 달성했습니다. 석유 생산은 3월에 악천후로 인한 운송 차질로 일시적으로 감소했으나 최근에는 하루 평균 320톤을 기록하고 있습니다.
McDaniel and Associates Consultants가 작성한 최신 매장량 보고서에 따르면, 총 증명 및 추정 매장량은 전년 대비 안정적이지만, 10% 할인율을 적용한 순현재가치(NPV)는 2023년 6억 2,900만 달러에서 5억 6,000만 달러로 11% 감소했습니다. 이 감소는 브렌트유 가격 하락, 브렌트 수출 스프레드 확대, 그리고 국내 정유소 가격에 영향을 미치는 정부의 정제 제품 수출 제한 때문입니다.
Tethys Petroleum (TSXV : TPL) a fourni une mise à jour opérationnelle depuis le Kazakhstan. La société a repris la production de gaz sur les champs d'Akkulka et de Kyzloi le 10 avril 2025, avec 20 puits sur 21 en fonctionnement, atteignant une production stable de 205 000 à 210 000 mètres cubes par jour. La production de pétrole a connu des baisses temporaires en mars en raison de conditions météorologiques sévères affectant les expéditions, mais elle s’est récemment stabilisée à une moyenne de 320 tonnes par jour.
Le dernier rapport sur les réserves de la société, réalisé par McDaniel and Associates Consultants, montre que si les réserves totales prouvées et probables restent stables d’une année sur l’autre, la Valeur Nette Présente (NPV) à un taux d’actualisation de 10 % a diminué, passant de 629 millions de dollars en 2023 à 560 millions de dollars, soit une baisse de 11 %. Cette réduction est attribuée à la baisse des prix du Brent, à l’élargissement des différentiels d’exportation du Brent et aux restrictions gouvernementales sur les exportations de produits raffinés impactant les prix des raffineries domestiques.
Tethys Petroleum (TSXV: TPL) hat ein Betriebsupdate aus Kasachstan veröffentlicht. Das Unternehmen hat die Gasproduktion in den Feldern Akkulka und Kyzloi am 10. April 2025 wieder aufgenommen, wobei 20 von 21 Bohrlöchern in Betrieb sind und eine stabile Produktion von 205.000 bis 210.000 Kubikmetern pro Tag erreicht wird. Die Ölproduktion wurde im März aufgrund von schlechtem Wetter, das die Lieferungen beeinträchtigte, vorübergehend reduziert, liegt aber zuletzt bei durchschnittlich 320 Tonnen pro Tag.
Der jüngste Reservenbericht des Unternehmens von McDaniel and Associates Consultants zeigt, dass die gesamten nachgewiesenen und wahrscheinlichen Reserven im Jahresvergleich stabil bleiben, der Barwert (NPV) bei einem Diskontsatz von 10 % jedoch von 629 Millionen US-Dollar im Jahr 2023 auf 560 Millionen US-Dollar gesunken ist, was einem Rückgang von 11 % entspricht. Dieser Rückgang wird auf niedrigere Brent-Ölpreise, größere Brent-Exportdifferenziale und staatliche Beschränkungen bei den Exporten von Raffinerieprodukten zurückgeführt, die die Preise in den heimischen Raffinerien beeinflussen.
- Gas production successfully resumed with 95% of wells operational (20 out of 21)
- Total proved and probable reserves maintained stable year-over-year
- 11% decrease in NPV from $629M to $560M
- Weather-related disruptions affecting oil production and shipments
- Increased tax and cost burden on exports
- Reduced domestic refinery prices due to government restrictions
Grand Cayman, Cayman Islands--(Newsfile Corp. - April 24, 2025) - Tethys Petroleum Limited (TSXV: TPL) ("Tethys" or the "Company") is pleased to provide an update on the Company's operations in the Republic of Kazakhstan.
Operation update
On April 10, 2025, Tethys resumed production on the Akkulka and Kyzloi gas fields. Twenty out of twenty-one wells are operating and production has stabilized at a daily level of about 205,000 to 210,000 cubed meters per day.
Oil production in March was negatively impacted by severe weather conditions, which limited the amount of oil that could be shipped. As a result, the production levels were temporarily reduced. Over the last three days oil production has averaged about 320 tons per day.
Reserve report
Tethys engaged McDaniel and Associates Consultants to provide a reserve report as of December 31, 2024. This report has now been completed and was prepared in compliance with NI51-101, Standards of Disclosure for Oil and Gas Activities and the COGE Handbook. Overall, the total proved and total proved + probable reserves are about the same as last year, but Net Present Value calculations are lower primarily due to lower oil prices. The Total Proved and Probable NPV using a
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While the volumes of Total Proved and Total Proved + Probable reserves remain broadly consistent with the prior year, the Net Present Value (NPV) has declined. This reduction is primarily due to a decrease in Brent crude prices and a widening of Brent export differentials, which have lowered netbacks. Additionally, government restrictions on refined product exports have reduced the prices that domestic refineries can offer for crude oil. At the same time, the fiscal and regulatory framework imposes a significantly higher tax and cost burden on exports, limiting the benefit of accessing international markets. These factors have had a greater impact on independent and foreign producers, who lack access to state-linked infrastructure and domestic sales channels.
About Tethys
Tethys is focused on oil and gas exploration and production activities in Central Asia and the Caspian Region.
Disclaimer
Some of the statements in this document are forward-looking. No part of this announcement constitutes, or shall be taken to constitute, an invitation or inducement to invest in the Company or any other entity and shareholders of the Company are cautioned not to place undue reliance on the forward-looking statements. Save as required by applicable law, the Company does not undertake to update or change any forward-looking statements to reflect events occurring after the date of this announcement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information:
Tethys Petroleum
Casey McCandless
Chief Financial Officer
901-763-4001
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FAQ
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