Tethys Petroleum 2008 Annual Results

Source: www.gulfoilandgas.com 3/31/2009, Location: Asia

- Tethys Petroleum Limited today announced its Annual Results for the period ended December 31, 2008. The full Annual Results together with a Management Discussion & Analysis have been filed with the Canadian securities regulatory authorities. Tethys also announced that it has filed its Annual Information Form ("AIF") which contains reserves data and other information about the Company for the period ended December 31, 2008, and the reports as mandated by National Instrument 51-101.

- The Company generated revenues from gas sales of US$5.36 million in the year ended December 31, 2008 compared to US$0.194 million in the year ended December 31, 2007.

- The Company recorded a net loss of US$22.627 million in the year ended December 31, 2008 compared to US$41.779 million in the year ended December 31, 2007.

- The Company had a cash and working capital surplus of US$21.489 million in the year ended December 31, 2008 compared to US$25.773 million in the year ended December 31, 2007.

- Capital expenditure in the year ended December 31, 2008 was US$42.343 compared to US$ 23.001 million in the year ended December 31, 2007.

- Operating costs in the year ended December 31, 2008 were US$1.334 million compared to US$0.019 million in the year ended December 31, 2007 (the 2007 figure covered only 12 days of production).

- General and Administrative costs in the year ended December 31, 2008 were US$13.421 million compared to US$9.461 million in the year ended December 31, 2007 reflecting the greater level of activity in the Company during that period.


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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

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