OREANDA-NEWS. November 23, 2011. Tethys Petroleum Limited ("Tethys" or the "Company") (TSX: TPL)(LSE: TPL) announced its third quarter 2011 financial results. The results are highlighted by a 116% increase in production revenues over the third quarter of last year, reported the press-centre of KASE.

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

Q3 HIGHLIGHTS

- The average oil and gas production per production day for the nine months ended September 30, 2011 was 6,111 boe/d compared to 4,603 boe/d in the same period of 2010.

- Production revenues from Kazakhstan and Uzbekistan in the nine months ended September 30, 2011 totalled some USD 15.5 million compared to USD 11.3 million in the same period of 2010, representing a 37% increase.

- Cash balance at September 30, 2011 was USD18.4 million compared to USD 12.9 million at September 30, 2010.

- Net loss for the nine months to September 30, 2011 was USD 17.6 million   compared to USD 18.4 million in the same period of 2010.

- Capital expenditure, excluding the joint venture in Tajikistan, in the nine months ended September 30, 2011 was USD 36.8 million compared to USD 23.2 million as at September 30, 2010.

- Total assets at September 30, 2011 were USD 255.1 million compared to USD 182.1 million at September 30, 2010.

- The Doris oil production facilities in Kazakhstan were completed and the trucking of oil commenced from this location at a rate of over 1,500 bopd.

- The AKD05 Kazakh appraisal well flowed at 1,568 barrels per day of good quality (45 degrees API) oil during testing. Flow data indicate that the well would be capable of flowing around 3,000 barrels per day with reconfiguration of the production facilities.

- Tethys commenced trading on the main market of the London Stock Exchange under the ticker symbol "TPL".