Tethys Oil - Q1 beat vs. consensus
Q1 above consensus Could see positive revisions to cons after Q1 Conference call today at 10:00CET Q1 above consensus Tethys Oil reported Q1 revenues of USD 25. 4m, close to ABGSCe of USD 26. 6m, but 15% above consensus at USD 22. 0m.
EBITDA of USD 12. 3m in line with our expectation of USD 13m, but well above consensus at USD 8. 5m.
The FCF in the quarter was soft due to negative WC movements, however it was offset by lower than anticipated capex, resulting in a net cash position of USD 57m on par with ABGSCe at USD 57. 3m. Could see positive revisions to cons after Q1 Given the beat vs.
consensus numbers we would expect to see some positive revisions to consensus estimates on the back of the Q1 report. We are 9% ahead of consensus for 2021 revenues. Conf.
call today at 10:00CET Tethys Oil will host a conference call today at 10:00CET. We expect further discussions around the Thameen-1 exploration well to be in focus.
