The company has also registered an increase in the sales of oil and gas by 93.8% at $12.6m in Q1, against $6.5m in Q1 2012.
Tethys reported a cash profit of $2.8m against the cash loss of $1.7m in the same quarter last year, indicating a surge of 64.7%.
Net cash generated from the operating activities in Q1 2013 has decreased to $2.6m, when compared to Q1 2012’s $3.7m net cash used for operating activities. It showed a decrease of -29.7%.
In addition, Tethys Petroleum increased its oil production from 1,785 barrels of oil per day (bopd) in Q1 2012 to 3,795 bopd in Q1 2013, which is an increase of 112%.
Similarly, the barrels of oil equivalent per day (boepd) production have increased from 5,117 boepd in the first quarter of 2012 to 6,366 boepd in the same quarter of 2013, indicating an increase of 24%.
