The company noted that the third quarter financial results of 2012, compared to that of the same quarter of 2011 have seen an increase of 46% in the production revenues.
Tethys Petroleum observed that the Total Oil and Gas Revenue in the current year’s third quarter is up by 46% at $10m when compared to last year’s third quarter.
The company has also seen a jump of 72% at $26.7m in the Total Oil and Gas Revenue in the first nine months of 2012, compared to the revenues generated for the same period in 2011.
Average oil production from the Doris field located in Kazakhstan has increased 74% at 2,732 barrel oil per day (bopd) in the third quarter of 2012, in comparison to the third quarter of 2011.
The company witnessed a surge in the average oil production from the Doris field in the first nine months of the existing year to 145% at 2,234 bopd when compared to the first nine months of 2011.
Tethys Petroleum has also noticed a drop in the administrative expenses in the third quarter by 8% at $4.5m and in the nine months by 2% at $15.5m of the current year in comparison to the same periods last year, following a review on costs.
