Tethys Petroleum Press Release: 2017 Q1 Results
(firmenpresse) - GRAND CAYMAN, CAYMAN ISLANDS -- (Marketwired) -- 05/15/17 -- Tethys Petroleum Limited (TSX: TPL) ("Tethys" or "the Company") today announced its Results for the quarter ended March 31, 2017.
Q1 Financial Highlights
(all figures reported in USD unless stated otherwise. 2016 amounts are for the quarter ended March 31, 2016)
Q1 Operational Highlights
Oil
Gas
Q1 Corporate Highlights
The full Q1 Results together with Management's Discussion and Analysis have been filed with the Canadian securities regulatory authorities. Copies of the filed documents may be obtained via SEDAR at or on the Tethys website at . The summary financial statements are attached to this press release.
The Company's Q1 2017 financial statements are prepared under International Financial Reporting Standards (IFRS).
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.
Information for Shareholders
An annual general meeting of the holders of ordinary shares of the Company will be held at Hilton Amsterdam Airport Schiphol, Schiphol Boulevard 701, Schiphol, 1118 BN, Netherlands on June 23, 2017 at 10:00 a.m. (Central European Summer Time - local time in Amsterdam, Netherlands).
The Company has previously announced that, in order to further reduce costs following the decision to cancel the Company's London Stock Exchange listing (which became effective May 2, 2017), it intends to transfer the share register maintained in by Capita Asset Services in the UK to TSX Trust Company in Canada which also maintains a register. The Company is planning for this transfer to take place in the week following the annual general meeting. Thereafter, it is expected that those shareholders formerly on the Capita Asset Services register should be able to access pricing and trading facilities from brokers and intermediaries which allow for trading in TSX listed companies.
Disclaimer
Some of the statements in this document are forward-looking. Forward-looking statements include statements regarding the intent, belief and current expectations of the Company or its officers with respect to the potential that exists in both exploration and in discovered deposits in Central Asia and the Caspian Region, relocation of its Kazakhstan office to Aktobe City, the proposed shallow gas well drilling program, the installation of the mini-compressor and access to pricing and trading facilities from brokers and intermediaries which allow for trading in TSX listed companies. When used in this document, the words "expects," "believes," "anticipates," "plans," "may," "will," "should" and similar expressions, and the negatives thereof, are intended to identify forward-looking statements. Such statements are not promises or guarantees, and are subject to risks and uncertainties that could cause actual outcomes to differ materially from those suggested by any such statements including risks and uncertainties with respect to the potential that exists in both exploration and in discovered deposits in Central Asia and the Caspian Region, relocation of its Kazakhstan office to Aktobe City, the proposed shallow gas well drilling program, the installation of the mini-compressor and access to pricing and trading facilities from brokers and intermediaries which allow for trading in TSX listed companies.
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 the Listing Rules and 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.
See our Annual Information Form for the year ended December 31, 2016 for a description of risks and uncertainties relevant to our business, including our exploration activities.
About Tethys
Tethys is focused on oil and gas exploration and production activities in Central Asia and the Caspian Region. This highly prolific oil and gas area is rapidly developing and Tethys believes that significant potential exists in both exploration and in discovered deposits.
Tethys Petroleum Limited
Consolidated Statement of Financial Position
(in thousands of US dollars)
Tethys Petroleum Limited
Consolidated Statements of Comprehensive Income (Loss)
(in thousands of US dollars except per share information)
Tethys Petroleum Limited
Consolidated Statements of Cash Flows
(in thousands of US dollars)
Contacts:
Tethys Petroleum
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 15.05.2017 - 20:30 Uhr
Sprache: Deutsch
News-ID 543084
Anzahl Zeichen: 0
contact information:
Town:
GRAND CAYMAN, CAYMAN ISLANDS
Kategorie:
Oil & Gas
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