An oil company delivering solid growth Founded 2001 MUSD 400 oil and gas company A market cap rise of more than 600 percent since IPO Average daily production 4,700 barrels of oil Interests in oil producing licenses onshore Oman and…
Producing assets in Oman and Lithuania Oman Area Interest Phase Blocks 3 & 4 34,610 km2 30% Production Block 15 1,389 km2 40% Exploration Lithuania Area Interest Phase Gargzdai 884 km2 25% Production Rietavas 1,594 km2 14%*…
Focus on appraisal projects Operational targets: Develop Tethys Oils business as an attractive licence holder and partner Focus on developing the assets in Oman Evaluation of both conventional and unconventional assets in Lithuania…
Financial targets Long term capital structure targets: Target Debt/equity ratio of 30-40% Status Q3, 2013 37% Net debt/EBITDA of up to 2x 0.43* Strong cash position to have the ability to grow MSEK 246 *Last twelve…
Sales Sales growth Over/underlift Underlift position per 30 Sept, 30 404 barrels Underlift increase in Q3 of 10 600 barrels 7 www.tethysoil.com
Oil price development www.tethysoil.com
EBITDA Q4 2012 and Q1 2013 EBITDA include revenues from associates (Lithuania) and the Mitsui bonus. www.tethysoil.com
Result overview Q3 Revenues Operating result Administrative expenses MSEK 6 Depreciation of oil and gas properties MSEK 36 Operating expenses MSEK 42 Net sales of oil and gas MSEK 142 Operating result MSEK 60…
Financials BS Q3 2013 2013-09-30 2012-12-31 Cash (MSEK) 246 248 Shareholders equity (MSEK) 1047 860 Long term debts (MSEK) 420 417 Investments (MSEK) 208 875 Equity per share (SEK) 29,49 24,23 Cash per share (SEK) 6,93…
Investments Majority of invesments were made on Blocks 3 & 4 Investments focus on appraisal drilling, seismic and water injection programmes About MSEK 15 spent on Block 15 www.tethysoil.com 12
Oman Block 3 & 4 update Evaluating the seismic data to plan for next years drilling programme Appraisal drilling on B4EW4 confirmed presence of oil and in long term production test Appraisal well B4EW4-5 in progress Exploration…
Oman production Average daily production 4,682 bbl Production from: Farha South, Saiwan East and test production B4EW4 The JVs share of production currently 52 percent Selling price SEK 102.1 (101.09) www.tethysoil.com
Wells in Oman Focus on the water injection programme Three rigs employed, actively sourcing a fourth www.tethysoil.com
Water Injection Fault Block B 2000 Well Test 1800 Model Model W I 1600 Bottom Hole Pressure 1400 ) 1200 d / (b n io tc 1000 u d o r P li O 800 W ater injection started 600 June 19, 2012 400…
Appraisal and exploration wells 2013 B4EW4 Target Well Date Type of well reservoir Result B4EW4 February Exploration Multiple Oil B4EW42 June Appraisal Middle Buah No flows B4EW43 June Appraisal Lower Al Bashir Oil B4EW44 July…
Oman - Block 15 update JAS-1 in long term production test - minor flows Drilling of vertical sidetrack to the JAS-2 completed testing of Natih C reservoir in progress www.tethysoil.com
Lithuania - Gargzdai update 7 producing fields Production declining according to plan Evaluation of enhanced recovery techniques 2-3 undrilled conventional prospects Exposure to thick shale sections prospective for shale…
Lithuanian production Average daily production 126 bbl in Q3 Declining production - according to plan Evaluation of various production enhancing techniques www.tethysoil.com
Lithuania Rietavas update Conventional exploration and shale exposure. Work programme fully funded by Chevron* Soviet era Silale discovery successfully appraised Silale-1 in intermittent production Appraisal well Silale-5…
Lithuania Raseniai update Exploration for conventional oil in Silurian Reefs and other carbonites Twin of Soviet era stratigraphic well, Lapgiriai-1 drilled during spring - presence of oil confirmed. 3D seismic study, partly funded…
Seismic Activities Farha old: Reprocessing completed Farha new: 510km2 3D completed Processing completed B4EW4: 470km2 3D completed Processing completed 600km2 3D completed 850km2 2D completed 100% in 2013 Processing…
Farha Farha Old 3D Producing Barik FB: 16 New FB drilled 2013: 1 (FS68 in A Farha New 3D Leads www.tethysoil.com
B4EW4 and Buah B4EW4 NOTE: these two in Several oil bearing layers one in production Farha new 3D Producing Buah: 1 field Lower Buah wells: 3, Middle Buah wells: 1, LAB wells: 1, LB3 S/I www.tethysoil.com
Lower Buah fields and prospects B4EW4 area North B4EW5 B4EW6 prospect www.tethysoil.com
Outlook B4EW4 appraisal continues - well no 6 targeting Lower Buah in progress In house estimate of B4EW4 structure Lower Buah 2P reserves 2-4 million barrrels of oil net Tethys Several Lower Buah leads and prospects to be drilled…
Outlook to increase Production and Reserves Increased Production from Farha South Water Injection Programme Significant Appraisal Drilling on B4EW4 structure Continue to explore the potential of the Farha trend -seismic…
Loading...
