Tethys Petroleum Press Release (TPL)

Tethys Petroleum Limited (TSXV: TPL) recently issued a corporate update outlining its operational status in Kazakhstan, following a detailed reserve report conducted by McDaniel and Associates Consultants as of December 31, 2025. The report complies with NI51-101 standards and the COGE Handbook.

Key findings indicate that while the company's total proved and proved + probable reserves have remained relatively stable compared to 2024, the Net Present Value (NPV) has declined significantly. Specifically, the NPV calculated using a 10% discount rate for Total Proved reserves is approximately $474 million, a drop from $560 million the previous year, reflecting a decrease of around 15%. This reduction is primarily attributed to lower Brent crude oil prices and domestic oil prices within Kazakhstan.

According to the report, the reserve figures for 2025 versus 2024 are as follows: - Total Proved Reserves: 46,686 net Mboe (2025) vs. 46,960 net Mboe (2024) - Total Proved and Probable Reserves: 84,844 net Mboe (2025) vs. 85,554 net Mboe (2024) - Total Proved, Probable, and Possible Reserves: 125,332 net Mboe (2025) vs. 126,802 net Mboe (2024)

Moreover, the fiscal and regulatory environment in Kazakhstan poses significant tax burdens and costs on exports, which constrains Tethys's ability to capitalize on international market opportunities.

Tethys remains committed to oil and gas exploration and production in Central Asia and the Caspian region, but shareholders are advised to approach forward-looking statements with caution. For further details, stakeholders can contact Casey McCandless, Chief Financial Officer, through provided contact information.

Tethys Petroleum Limited (TSXV: TPL) recently disclosed its reserve update for 2025, providing critical insights into its operational outlook and future market positioning. The company engaged McDaniel and Associates to prepare an NI 51-101 compliant reserve report, which revealed that while the volume of both Total Proved and Total Proved + Probable reserves has remained relatively stable year-over-year, the Net Present Value (NPV) based on a 10% discount rate has experienced a notable decline of roughly 15%, now estimated at $474 million, down from $560 million in 2024.

This decrease in NPV can be attributed primarily to a dip in global Brent crude prices and lower domestic oil prices, a concern that underscores the vulnerability of Tethys in a fluctuating oil market. As oil prices are a key driver of profitability in the energy sector, Tethys' current financial viability is under pressure. Additionally, the company's operational environment in Kazakhstan is further complicated by a high tax burden and regulatory costs that diminish the profitability from international exports.

Investors should weigh these factors carefully. The stability in reserve volumes may suggest that Tethys retains potential for future production; however, the declining NPV indicates an urgent need for enhanced operational efficiency and strategies to mitigate the impact of changing oil prices. Furthermore, the existing fiscal framework in Kazakhstan should prompt investors to consider the geopolitical and economic implications for future profit margins.

In summary, while Tethys Petroleum holds a consistent reserve base, the recent financial metrics suggest caution. Potential investors are advised to closely monitor oil price trends and the company's strategic responses to fiscal challenges in Kazakhstan before making investment decisions. Balancing these insights could lead to a more informed investment approach amidst a competing energy landscape.