OREANDA-NEWS. May 25, 2011. Tethys Petroleum Limited ("Tethys" or the "Company" (TSX: TPL) announced its first quarter 2011 financial results. The results are underlined by a 112% increase in revenues over the first quarter of last year, reported the press-centre of KASE.

The Company reports financial results in accordance with International Financial Reporting Standards ("IFRS").

RECENT HIGHLIGHTS:

- With sales of USD 48 million in the three months ended March 31, 2011 the Company achieved a 112% increase on the same period of 2010 where sales were USD 2.12 million.

- The Company also recorded a reduced net loss of USD 6.30 million in the three months ended March 31, 2011 compared to a net loss of USD 8.00 million in the three months ended March 31, 2010.

- Capital expenditure, excluding the joint venture in Tajikistan, in the three months ended March 31, 2011 was USD 10.85 million compared to USD 4.44 million in the three months ended March 31, 2010. In Tajikistan capital expenditure in the three months to March 31, 2011 was USD 3.00 million compared to USD 2.28 million in the three months ended March 31, 2010.