Brief: Tethys Oil Strategic Review Is Ongoing

Tethys Oil AB

07/05/2024 06:41

May 7 (Reuters) - Tethys Oil AB  TETY.ST :
    * OUR GUIDANCE FOR 2024 INCLUDED LOWER PRODUCTION AND, UNLESS OIL PRICES RISE, LESS FREE
CASH
FLOW, THAN PREVIOUS YEARS FROM BLOCKS 3&4
    * REVIEW IS STILL ONGOING, BUT A FEW IMPORTANT DECISIONS HAVE BEEN MADE
    * DIVIDEND POLICY REMAINS FIRM, BUT WITH STRONG DEMAND FOR CAPITAL WE NEED TO REPOSITION
OURSELVES
FOR FUTURE GROWTH
    * OUR IMMEDIATE TARGET IS TO SET A GROWTH STRATEGY AND RESUME CASH DIVIDENDS AS SOON AS
POSSIBLE
    * WE PURSUE IMMINENT COMMERCIALISATION OF BLOCK 56, DRILLING OF KUNOOZ-1 AND EAGERLY AWAIT
EVALUATION OF STRATEGIC ALTERNATIVES FOR OUR PORTFOLIO OF ASSETS
    * WE HAVE HAD A LARGE PERIOD OF HARVEST, WE NOW ENTER A PHASE OF GROWTH AND INVESTMENTS
WHICH
SHOULD LEAD TO HARVEST AGAIN

Source text for Eikon:  ID:nMFN1ZwX10 
Further company coverage:  TETY.ST 

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