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John Olaisen ... (+2)
  • John Olaisen
  • Martin Mauseth

Tethys Oil - Looking for production growth in 2023

Q3 numbers were in line but outlook somewhat soft Al Jumd production tests commencing in 4-6 weeks Discounts oil at USD 56/bbl

John Olaisen ... (+2)
  • John Olaisen
  • Martin Mauseth

Tethys Oil - Q3 numbers in line with expectations

Q3’22 EBITDA of USD 27m Revised FY’22 production guidance Q3 was in line, but slightly soft outlook

John Olaisen ... (+2)
  • John Olaisen
  • Martin Mauseth

Tethys Oil - Steady quarter

Minor estimate changes for Q3 Production tests at Al Jumd Discounts brent price of USD 59/bbl

John Olaisen ... (+2)
  • John Olaisen
  • Martin Mauseth

Tethys Oil - Al Jumd soon to reveal its potential

Estimates slightly down on lower production guidance Continued progress on Block 56 Share discounts LT oil price of USD 54/bbl

John Olaisen ... (+2)
  • John Olaisen
  • Karl Fredrik Schjøtt-Pedersen

Tethys Oil - Strong quarter expected

Higher oil price realisation expected in Q2 Block 56 remains in focus Discounts USD 50/bbl, P/NAV 0.55x

John Olaisen ... (+2)
  • John Olaisen
  • Karl Fredrik Schjøtt-Pedersen

Tethys Oil - Focus on production and exploration

Guidance and estimates down on production issues One step forward on Block 56 Discounts long-term oil price of ~USD 68/bbl

John Olaisen ... (+2)
  • John Olaisen
  • Karl Fredrik Schjøtt-Pedersen

Tethys Oil - Q1 report likely to reflect a high activity level

Massive estimate revisions High activity expected in Q1 Discounts oil price of ~USD 70/bbl

John Olaisen ... (+2)
  • John Olaisen
  • Karl Fredrik Schjøtt-Pedersen

Tethys Oil - Chasing growth in ’22

Modest estimate revisions Chasing growth in ’22 Discounts oil around USD 55/bbl, ~11% dividend yield

John Olaisen ... (+2)
  • John Olaisen
  • Karl Fredrik Schjøtt-Pedersen

Tethys Oil - First year of RRR below 100%

EBITDA below ABGSCe, on lower net entitlement Soft RRR, investing for growth in ‘22 DPS of SEK 7/sh ~9.7% dividend yield

John Olaisen ... (+2)
  • John Olaisen
  • Karl Fredrik Schjøtt-Pedersen

Tethys Oil - Activity pick-up likely for ‘22

Q4e EBITDA of USD 21.4m Activity likely to pick up in ‘22 Discounts Brent at USD 54/bbl

John Olaisen ... (+2)
  • John Olaisen
  • Karl Fredrik Schjøtt-Pedersen

Tethys Oil - Strong FCF in ’22e-’23e likely to boost DPS

No material revisions after Q3 Block 56 drilling to commence shortly Discounts oil at USD 58/bbl

John Olaisen ... (+2)
  • John Olaisen
  • Karl Fredrik Schjøtt-Pedersen

Tethys Oil - Q3 broadly in line

Q3 broadly in line Slightly softer guidance for Q4’21… … Longer term only limited underlying revisions expected

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