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Tethys Petroleum ( (TSE:TPL) ) has provided an update.
Tethys Petroleum has secured approval from Kazakhstan’s Ministry of Energy to move the Kul-Bas oil field into a long-term Production Period through July 2048, safeguarding continuity of oil output beyond the current preparatory phase and underpinning ongoing investment in field infrastructure, including processing, storage, camp facilities and a new gas compressor and pipeline. The company is reporting average December oil production of about 425 tons per day from key Kul-Bas wells and around 230,000 m³ of gas per day from the Kyzyloi and Akkulka gas fields, has applied to extend the Akkulka gas field contract to 2036, and is pursuing a voluntary delisting from the Kazakhstan Stock Exchange due to negligible trading activity, concentrating liquidity and investor focus on its TSX Venture Exchange listing.
Spark’s Take on TSE:TPL Stock
According to Spark, TipRanks’ AI Analyst, TSE:TPL is a Neutral.
Tethys Petroleum’s stock score reflects significant financial performance challenges, particularly in profitability and cash flow. Despite these issues, the stock shows positive market momentum based on technical analysis. The valuation is weakened by negative earnings, though recent corporate events, like strategic shifts and dividend reinstatement, offer a glimpse of potential future improvement.
To see Spark’s full report on TSE:TPL stock, click here.
More about Tethys Petroleum
Tethys Petroleum Limited is an oil and gas exploration and production company focused on Central Asia, with core operations in Kazakhstan. The company develops and produces hydrocarbons from assets including the Kul-Bas oil field and the Kyzyloi and Akkulka gas fields, and its primary listing and main trading market are on the TSX Venture Exchange.
Average Trading Volume: 6,282
Technical Sentiment Signal: Strong Buy
Current Market Cap: C$146.3M
For a thorough assessment of TPL stock, go to TipRanks’ Stock Analysis page.