Q4'23 production in line with expectations
Tethys Oil recently pre-announced its production numbers for Q4, which were in line with our estimates. Net production was 8.4kboe/d vs. ABGSCe of 8.4kboe/d, and the net entitlement was 4.4kboe/d, also in line with ABGSCe of 4.4kboe/d. This was expected given the monthly production updates Tethys is providing. We now estimate FY'23 production of 8.83kboe/d, which is slightly below the mid-range of the current FY'23 guidance of 8.8-9.0kboe/d. For Q4, we now forecast revenues and EBITDA of USD 36.3m and USD 20.1m, respectively. During the quarter, Tethys also distributed SEK 2/sh in cash dividend to its shareholders.
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