Tethys oil company decreases net loss by 9 percent in 2011
Azerbaijan, Baku, March 31 / Trend E. Kosolapova/
Central Asian Oil and Gas Company Tethys Petroleum Limited decreased its net loss from $29.65 million in 2010 to $26.99 million in 2011 (9 percent decrease), the company reported.
Company's total revenue increased from $14.71 million to $30.30 million during this period.
Tethys' average oil and gas production amounted to 5,730 barrels of oil per day in 2011. The average oil and gas production for Q4 2011 amounted to 6,584 barrels of oil per day.
Company's assets reached $263.39 million on December, 31 2011 compared to $267.75 million at the end of 2010.
Tethys' equity decreased to $237.880 million compared to $239.523 million in 2010.
Company's liabilities decreased from 28.225 million at the end of 2010 to 25.511 million at the end of 2011.
Tethys Petroleum Limited is an oil and gas exploration and production company currently focused on Central Asia with projects in oil-rich Kazakhstan, Tajikistan and Uzbekistan. It is the only independent oil and gas company operating in all three countries.