/KASE, March 17, 2022/ – Tethys Petroleum Limited (Cayman Islands), whose
shares are officially listed on Kazakhstan Stock Exchange (KASE), has provided
KASE with the following press release dated March 10, 2022:
quote
Grand Cayman, Cayman Islands - Tethys Petroleum Limited (TSXV: TPL)
("Tethys" or the "Company") is pleased to provide a corporate update.
Oil Sale prepayment
The Company has concluded a tender to enter into another agreement to sell
50,000 tons of oil for a minimum price of $385 USD per ton. This is a price
increase of $120 per ton from the previously announced oil sale agreement
announced on December 21, 2021. Upon closing and funding, this will provide
Tethys with approximately $19.25 million USD. The primary use of proceeds will
be to go toward a combination of the outstanding payables, the Gemini debt
repayment, share repurchases, tax obligations, upcoming payments for drilling
wells, infrastructure spending and other obligations.
unquote
The complete press release is available on KASE website:
-
https://kase.kz/files/emitters/KY_TPL_/ky_tpl__relizs_100322.PDF – in
Russian;
-
https://kase.kz/files/emitters/KY_TPL_/ky_tpl__relizs_100322_en.pdf – in
Ebnglish.
[2022-03-17]