Tethys Petroleum Limited (TPL)

Tethys Petroleum Announces Interim Results and Corporate UpdateMay 28, 2026 6:00 PM
NewsfileGrand Cayman, Cayman Islands--(Newsfile Corp. - May 28, 2026) - Tethys Petroleum Limited (TSXV: TPL) ("Tethys" or the "Company") today announced that it has filed its interim results for the three months ended March 31, 2026 with the Canadian securities regulatory authorities comprising its Unaudited Financial Statements together with Management's Discussion and Analysis and other required forms. Copies of the filed documents may be obtained via SEDAR at www.sedarplus.ca or on Tethys' website at www.tethys-group.com. Financial highlightsOil and gas sales increased by 104% to $8.1 million in the first quarter of 2026 from $4.0 million in 2025 due primarily to increased oil production. The net profit for the period was $2.0 million compared with a gain of $0.3 million in 2025. Operational challengesRevenues for Q1 were improved from Q1 2025 but the Company is continuing to be frustrated on oil sales prices and other regulatory challenges. Over the last four months Tethys has received no export allocation on oil sales despite the Company's requests. The domestic allocation has required Tethys to sell oil to the state refinery that results in the least favorable economics for Tethys. The allocations from the Ministry of Energy have resulted in significantly lower economics for the Company and the Company is in the process of revising the projected budget for the year. QazaqGaz, the principal national gas company of Kazakhstan, has failed to provide Tethys with an offer to buy the Company's natural gas. The only approved buyer has delayed paying for delivered gas and is currently about 3 months behind on its payments.Given the uncertainty on the timing of receiving the cash payments for the natural gas sales as well as the oil sales the Company is delaying its plans to drill ARD-01 until later in the year. Negative press reportsTethys has recently become aware of some negative press articles. Tethys refutes the recent press reports by journalist Oleg Chervinsky on his recent publications at the media portal of https://hronika.kz/. Tethys is not aware of any attempt being made by the journalist to contact Tethys to verify the facts from Tethys perspective. The publication contains a number of inaccurate and misleading statements and characterizations.Tethys entered into a Settlement Agreement with Olisol, EGG and their principals and DSFK in 2019 to resolve all disputes between the parties. Tethys fulfilled all of its obligations under the Settlement Agreement including making a substantial cash payment to DSFK for it to release the pledges it held over Tethys gas production assets. Tethys also issued 18 million Tethys shares to Olisol to satisfy all claims made by Olisol against Tethys. DSFK and Olisol failed to fulfill the obligations they had agreed to under the Settlement agreement including failing to release the pledges. After allowing for numerous opportunities and significant time to address this shortfall, Tethys took the matter to arbitration at the AIFC. The AIFC arbitrator and appellate judge ruled in favour of Tethys on all counts. The arbitrator ordered DSFK to return the money paid by Tethys and also authorised Tethys to cancel the shares issued to Olisol.Olisol, EGG and DSFK have sought to reverse the AIFC arbitration court ruling by taking various legal actions. Tethys has sought to have the ruling enforced via the Kazakhstan, Canadian and Cayman courts. If the pipeline assets are eventually seized or sold it could lead to a potential disruption of Tethys's gas operations. Tethys is confident of the legal merits of its position. Tethys will continue to defend its legal rights and those of its employees and other stakeholders in Kazakhstan.About TethysTethys is focused on oil and gas exploration and production activities in Central Asia and the Caspian Region. Tethys believes that significant potential exists in both exploration and in discovered deposits in the area.DisclaimerSome of the statements in this document are forward-looking. No part of this announcement constitutes, or shall be taken to constitute, an invitation or inducement to invest in the Company or any other entity and shareholders of the Company are cautioned not to place undue reliance on the forward-looking statements. Save as required by applicable law, the Company does not undertake to update or change any forward-looking statements to reflect events occurring after the date of this announcement.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.Contact Information:Tethys Petroleum Casey McCandless Chief Financial Officer info@tethys-group.com901-763-4001 www.tethys-group.com To view the source version of this press release, please visit https://www.newsfilecorp.com/release/299327 Original: Tethys Petroleum Announces Interim Results and Corporate Update

Tethys Petroleum Annual Results and Corporate UpdateApril 30, 2026 6:00 PM
NewsfileGrand Cayman, Cayman Islands--(Newsfile Corp. - April 30, 2026) - Tethys Petroleum Limited (TSXV: TPL) ("Tethys" or the "Company") today announced that it has filed its Annual Results for the year ended December 31, 2025 with the Canadian securities regulatory authorities comprising its Audited Financial Statements together with Management's Discussion and Analysis and other required forms. Copies of the filed documents may be obtained via SEDAR at www.sedarplus.ca or on Tethys' website at www.tethys-group.com. Financial highlightsOil and gas sales increased by 83% to $20.7 million in 2025 from $11.4 million in 2024 due to higher production volume. The net profit for 2025 was $8.1 million compared with a loss of $19.1 million in 2024. The Chairman's letter to shareholders in the Financial Statements of the Annual Report summarizes the highlights of 2025 and the outlook for the Company going forward.Operations updateOil production from wells KBD-02, KBD-06, and KBD-07 has averaged approximately 336 tons per day in 2026 through yesterday. Natural Gas production from the Kyzyloi and Akkulka Gas Fields is currently averaging about 231,000 m³ per day from 21 gas wells. The gas utilization program for Kul Bas until the end of 2026 has been approved by the Ministry of Energy working group. About TethysTethys is focused on oil and gas exploration and production activities in Central Asia and the Caspian Region. Tethys believes that significant potential exists in both exploration and in discovered deposits in the area.DisclaimerSome of the statements in this document are forward-looking. No part of this announcement constitutes, or shall be taken to constitute, an invitation or inducement to invest in the Company or any other entity and shareholders of the Company are cautioned not to place undue reliance on the forward-looking statements. Save as required by applicable law, the Company does not undertake to update or change any forward-looking statements to reflect events occurring after the date of this announcement.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.Contact Information:Tethys Petroleum Casey McCandless Chief Financial Officerinfo @LRoy-4001www.tethys-group.comTo view the source version of this press release, please visit https://www.newsfilecorp.com/release/295371
Original: Tethys Petroleum Annual Results and Corporate Update

Tethys Petroleum Press ReleaseMarch 24, 2026 5:20 PM
NewsfileGrand Cayman, Cayman Islands--(Newsfile Corp. - March 24, 2026) - Tethys Petroleum Limited (TSXV: TPL) ("Tethys" or the "Company") is pleased to provide an update on the Company's operations in the Republic of Kazakhstan. Operations updateOil production from wells KBD-02, KBD-06, and KBD-07 has averaged approximately 323 tons per day in 2026 through yesterday. Negative weather conditions temporarily limited oil shipments earlier in the month and production was also temporarily shut down. The conditions have improved and production has ramped back up to a level of 375 tons per day as of yesterday. Natural Gas production from the Kyzyloi and Akkulka Gas Fields is currently averaging about 222,000 m³ per day from 20 gas wells.The gas utilization program for Kul Bas until the end of 2026 was preliminary approved by the Ministry of Energy working group on March 12. The expert panel approved the Akkulka Gas Contract extension and removed the obligation to reinvest incremental profit from oil product price increases. The Company is continuing to make progress in upgrading the oil processing and storage capacity at the central processing facility and is estimated to be 80% complete with the current phase of construction.Drilling ActivitiesThe drilling of ARD#1 (Kronos) in the Aral 4 block is scheduled to commence in the beginning of May. The well depth is projected to be 3,000 meters (+250m). KBD-5 is scheduled to commence in the beginning of August, 2026. The well depth is projected to be 2,500 meters (+/- 250m). About TethysTethys is focused on oil and gas exploration and production activities in Central Asia. DisclaimerSome of the statements in this document are forward-looking. No part of this announcement constitutes, or shall be taken to constitute, an invitation or inducement to invest in the Company or any other entity and shareholders of the Company are cautioned not to place undue reliance on the forward-looking statements. Save as required by applicable law, the Company does not undertake to update or change any forward-looking statements to reflect events occurring after the date of this announcement.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.Contact Information:Tethys Petroleum Casey McCandless Chief Financial Officerinfo @LRoy-4001 www.tethys-group.com  To view the source version of this press release, please visit https://www.newsfilecorp.com/release/289784
Original: Tethys Petroleum Press Release

Tethys Petroleum Press Release: Corporate updateFebruary 19, 2026 5:39 PM
NewsfileGrand Cayman, Cayman Islands--(Newsfile Corp. - February 19, 2026) - Tethys Petroleum Limited (TSXV: TPL) ("Tethys" or the "Company") is pleased to provide an update on the Company's operations in the Republic of Kazakhstan.Update on transition to a Production Period of Kul-Bas Oil Field (Commercial Production)The Ministry of Energy of the Republic of Kazakhstan and Kul-Bas LLP signed the Addendum #14 to the Subsoil use contract reflecting the approved terms of the Kul-Bas oil field for the Production Period starting from February 17, 2026 until July 27, 2048. Operations updateOil production from wells KBD-02, KBD-06, and KBD-07 has averaged approximately 382 tons per day in 2026. The production potential has been negatively impacted by issues with a gas turbine unit and a compressor. A gas turbine unit is to be put into service within a couple of days. The company is in the process of purchasing a new gas compressor. After commissioning the new gas turbine and compressor, the associated gas utilization capacity will increase, enabling daily oil production rate to reach an expected rate of approximately 700 tons per day. Natural Gas production from the Kyzyloi and Akkulka Gas Fields is currently averaging about 227,000 m³ per day from 20 gas wells.Drilling ActivitiesThe Board has approved the plans to drill an exploration well on the Aral-4 block called Kronos or ARD-01. The plan is to drill the Barremian and upper Jurassic zones down to 2,300 meters starting in May with a possible option of deepening down to the Middle Jurassic at 2,600 meters. The Board also approved the plan to drill the appraisal well KBD-05 in the Kulbas block starting in July or August. The Company is also evaluating a second prospect in the Aral-4 block called Kulandy or ARD-02, and may make the decision to drill this prospect later this year.About TethysTethys is focused on oil and gas exploration and production activities in Central Asia. DisclaimerSome of the statements in this document are forward-looking. No part of this announcement constitutes, or shall be taken to constitute, an invitation or inducement to invest in the Company or any other entity and shareholders of the Company are cautioned not to place undue reliance on the forward-looking statements. Save as required by applicable law, the Company does not undertake to update or change any forward-looking statements to reflect events occurring after the date of this announcement.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.Contact Information:
Tethys Petroleum
Casey McCandless
Chief Financial Officer info @LRoy-4001 www.tethys-group.com To view the source version of this press release, please visit https://www.newsfilecorp.com/release/284607
Original: Tethys Petroleum Press Release: Corporate update

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