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Tethys Petroleum ( (TSE:TPL) ) just unveiled an update.
Tethys Petroleum announced a strategic decision to withdraw its application for transitioning the Kul Bas field to the production period, citing higher revenue potential through existing distribution channels under the testing production contract. The company anticipates overcoming current infrastructure constraints by year-end to take advantage of future market conditions and enhanced production capacities. Additionally, Tethys has entered into an agreement with NatGaz Company LLP for the sale of natural gas, expecting a significant revenue boost, while also reinstating dividends after a two-year hiatus, demonstrating a robust operational recovery.
More about Tethys Petroleum
Tethys Petroleum is engaged in oil and gas exploration and production activities primarily in Central Asia and the Caspian Region.
YTD Price Performance: 24.22%
Average Trading Volume: 3,096
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $122.6M
For a thorough assessment of TPL stock, go to TipRanks’ Stock Analysis page.