Oct 25, 2023
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Tethys Petroleum Dividend Declaration
January 18, 2023 6:11 PM EST | Source: Tethys Petroleum Limited
Grand Cayman, Cayman Islands--(Newsfile Corp. - January 18, 2023) - Tethys Petroleum Limited (TSXV: TPL) ("Tethys" or the "Company") is pleased to announce a dividend declaration.
Dividend
The Company has approved a quarterly dividend of 3 CAD cents per share on common shares. The record date shall be January 26, 2023 and the pay date shall be February 9, 2023.
Corporate Update
Oil -The KBD-02, KBD-04, KBD-06, and KBD-07 wells are continuing to produce at a combined rate exceeding 600 tons/day (4,800 bopd) on average so far in January.
The KBD-04 well will complete its testing period on the current zone (Hauterivian formation) on February 2, and the next zone (Upper Barremian) will be tested starting in mid February.
The Company is planning to drill KBD-11 starting on January 19th and is scheduled to commence drilling on KBD-10 on February 25th.
Following the Department of Ecology's refusal to issue permission for emissions related to Kylzloi and Akkulka gas operations, the Company has temporarily shut down the gas field operations.
Normal Course Issuer Bid update
As of January 18th, 2023, the Company has repurchased 1,018,860 shares of the of the 5,377,000 common shares that it is approved to acquire until February 7, 2023.
About Tethys
Tethys is focused on oil and gas exploration and production activities in Central Asia and the Caspian Region. Tethys believes that significant potential exists in both exploration and in discovered deposits in the area.
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
info@tethys-group.com
www.tethys-group.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/151824