Tethys Briefs '09 Financial Results

Tethys Petroleum announced its Annual Results for the period ended December 31, 2009.

In 2009 the Company prepared its first financial statements under International Financial Reporting Standards ("IFRS") instead of US GAAP, resulting in a re-statement of 2008 comparatives.

Highlights

  • The Company generated revenues from gas and oil sales of US $8.59 million in the year ended December 31, 2009 compared to US $5.36 million in the year ended December 31, 2008.
  • The Company recorded a net loss of US $21.506 million in the year ended December 31, 2009 compared to a net loss of US $22.184 million in the year ended December 31, 2008.
  • Capital expenditure in the year ended December 31, 2009 was US $32.221 compared to US $42.807 million in the year ended December 31, 2008.
  • Operating costs in the year ended December 31, 2009 were US $3.405 million compared to US $1.334 million in the year ended December 31, 2008 reflecting the additional operating costs from the Uzbekistan acquisition.
  • General and Administrative costs in the year ended December 31, 2009 were US $16.880 million compared to US $17.915 million in the year ended December 31, 2008.
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