Q4 2019 Tethys Oil AB Earnings Call Transcript
Hello, everyone, and welcome to the Tethys Oil Year Earnings Report 2019. (Operator Instructions) Today, I am pleased to present Magnus Nordin, Managing Director; and Petter Hjertstedt, Acting CFO. Please begin.
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Thank you very much. So ladies and gentlemen, most welcome to the Q4 2019 Tethys Oil webcast, and we'll go straight to the interesting parts and go for slide -- financial highlights. So all in all, it was quite a good quarter yet again for Tethys with one very interesting milestone in that for the first time in the history of the Blocks 3&4 project, we dropped below 52% oil entitlement.
Saying that all historic costs invested into the projects has now been repaid, and we are into a profit oil plus immediate repayment of costs, still going on, both the OpEx and the CapEx. Obviously, this is a moving target, and it's dependent on future production, and it's dependent on oil price and it's depending on levels of investment.
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