Q3 numbers in line with ABGSCe
Tethys Oil reported Q3'23 numbers in line with our expectations. EBITDA of USD 16.4m was 6% above ABGSCe at USD 15.4m. The beat was explained by slightly lower-than-expected opex, as production, sold volumes and realised prices were preannounced. FCF of USD -6.1m (SEK -2.0/sh) was in line with ABGSCe of USD -5.2m (SEK -1.7/sh), and negatively affected by WC movements compared to Q2.