Brief: Tethys Oil Says Has Put In Place Plans To Enable Reduced Expenditure In 2020

Tethys Oil AB

06/04/2020 19:34

April 6 (Reuters) - Tethys Oil AB  TETY.ST :
    * REVISED CAPITAL EXPENDITURE GUIDANCE AND COVID-19 UPDATE
    * NOW EXPECTS TOTAL INVESTMENTS IN OIL AND GAS PROPERTIES
FOR FULL
YEAR 2020 TO BE IN RANGE OF MUSD 50 - 64
    * TETHYS OIL HAS PUT IN PLACE PLANS TO ENABLE REDUCED
EXPENDITURE
IN 2020
    * TETHYS- PRODUCTION GUIDANCE RANGE OF 12,600 - 13,400 BOPD
OF
ANNUAL AVERAGE PRODUCTION FROM BLOCKS 3&4 IN OMAN BEFORE
GOVERNMENT TAKE UNCHANGED
    * RANGE FOR 2020 CAPITAL EXPENDITURE IS EXPECTED TO BE LOWER
AND
SOMEWHAT WIDER THAN PREVIOUSLY COMMUNICATED
    * EXPECTS NET ENTITLEMENT OF OIL PRODUCTION TO BE 52 PERCENT
IN
2020
    * TETHYS - PLANS WE HAVE PUT IN PLACE AIM TO ASSURE THAT
TETHYS
OIL STAYS CASH FLOW POSITIVE FOR FULL YEAR 2020 AT AN OIL PRICE
OF USD 30 PER BARREL

Source text for Eikon:  ID:nWkr5hzNz 
Further company coverage:  TETY.ST 

 ((Reuters.Briefs@thomsonreuters.com;))