OREANDA-NEWS. August 22, 2011. Tethys Petroleum Limited ("Tethys" or the "Company" (TSX: TPL, LSE:TPL) announced its second quarter results for the period ended June 30, 2011. The second quarter results together with a Management Discussion & Analysis have been filed with the Canadian securities regulatory authorities. Copies of the filed documents may be obtained via SEDAR at www.sedar.com or on Tethys' website at www.tethyspetroleum.com. The summary financial statements are attached to this press-release, reported the press-centre of KASE.

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

Highlights

- Production revenues for the six months to June 30, 2011 from Kazakhstan and Uzbekistan totaled some USD8.657 m compared to USD8.146 m for the same period in 2010, representing a six per cent increase.

- Other operating revenues made up USD8.991 m compared to nil in the same period of 2010.

- Net loss was USD8.991 million compared to USD11.321 m in the same period of 2010.
                                 
- Capital expenditure, excluding the joint venture in Tajikistan, in the six months ended June 30, 2011 was USD25.686 million compared to USD11.759 m in the six months ended June 30, 2010.

- The average oil and gas production per production day for the six months ended June 30, 2011 was 5,566 boe/d compared to 3,476 boe/d in the same period of 2010.

- Total assets at June 30, 2011 were USD261.144 million compared to USD184.082 m at June 30, 2010.

- Cash balance at June 30, 2011 was USD35.346 million compared to USD30.232 m at June 30, 2010.