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Market: TSE, LSE
Sector: Energy
EPIC: TPL
Latest Price: 16.50p  (-8.99% Descending)
52-week High: 43.00p
52-week Low: 12.75p
Market Cap: 55.51M
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Deal TPL Tax Free*
*subject to change and depends on individual circumstances.
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Tethys Petroleum
www.tethyspetroleum.com
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Tethys Petroleum Limited is an oil and gas exploration and production company currently focused on Central Asia and the Caspian Region with projects in Kazakhstan, Tajikistan and Georgia. Tethys Petroleum has a diversified portfolio of assets including existing oil and gas production, frontier high impact exploration and...

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Tethys Petroleum rally will continue ahead of drilling, says broker

February 13 2013, 12:28pm Full details of the 2013-2014 programme are expected in this quarter

 

Tethys Petroleum’s (LON:TPL, TSE:TPL) shares will continue on their positive trend ahead of key drilling programmes later this year, according to analysts at Cantor Fitzgerald.

In a note today Sam Wahab, analyst in the London brokerage (formerly Seymour Pierce) which was acquired by Cantor last week, highlighted the recent rally in Tethy’s shares following a spate of positive announcements.

The catalysts include a farm-out of a stake in the potentially massive Bokhtar PSC in Tajikistan to Total and China National Petroleum company, and improved gas marketing terms in Kazakhstan.

And Wahab believes that drilling and exploration will provide catalysts going forward.

“Full details of the 2013-2014 programme will be announced later in Q1, however we would expect 2013 to consist of a seismic survey and subsequent data interpretation followed by a deep exploration well in 2014,” the analyst said.

“We would also expect further exploration and development drilling in Kazakhstan as the company continues to target their 1.3bnbbl gross mean recoverable prospective resource base.

Cantor rates Tethys as a ‘buy’ with a 90p target, and Wahab points out that the shares currently trade at around a 50% discount to its core asset value and therefore there is little value ascribed to its proven reserves base.

 

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