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Tethys Petroleum (TPL)

Business description

Tethys Petroleum is an E&P with production and exploration assets in Kazakhstan. It also holds potentially significant interests in Tajikistan and Georgia. It is relinquishing its assets in Uzbekistan.

$48m financing puts Tethys in control

Flash note | Oil & Gas | 02/07/2015

Tethys has announced a proposed $47.7m equity raising from AGR Energy, a Kazakhstan-based investment fund. Subject to EGM, TSX and Kazakhstan approvals, the funds place Tethys on a stronger footing, allowing it to invest in its portfolio to generate free cash flows and enable possibly transformative exploration. We will review our valuation, but point investors to our recent note for details of our current 27p/share core NAV.

Tagged: Oil & gas

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