Tethys Petroleum: Interim Results

Grand Cayman, Cayman Islands--(Newsfile Corp. - August 26, 2020) - Tethys Petroleum Limited (TSXV: TPL) ("Tethys" or the "Company") today announced that it has filed its Interim Results for the three months ended June 30, 2020 and for the six months ended June 30, 2020. The full Interim 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 www.sedar.com or on Tethys' website at www.tethys-group.com.

Operations update

Tethys has entered into a gas prepayment transaction and received approximately $7.7 million USD. Tethys has entered into a further amendment to the AGR loan agreement allowing the Company to pay $4 million by August 31st and $3 million by year end as full payment of the outstanding obligation. The Company will use part of the gas pre-payment proceeds to make the $4 million payment to AGR. The planned use of the additional proceeds has not yet been determined but is under consideration.

The Company is also in the process of pursing financing options in order to help fund development plans.

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/62611

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