Tethys Petroleum Ltd Report on Payments to Governments

 
TIDMTPL 
 
Report on Payments to Governments 
FOR:  TETHYS PETROLEUM LIMITED 
 
TSX, LSE SYMBOL:  TPL 
 
September 1, 2016 
 
Tethys Petroleum Limited ("Tethys" or "the Company")  Consolidated report on payments to governments 
 
GRAND CAYMAN, CAYMAN ISLANDS--(Marketwired - Sept. 1, 2016) - Tethys Petroleum Limited presents below its 
consolidated report on payments to governments for the year ended 31 December 2015, for activities related to 
exploration, development and extraction of oil and gas resources. 
 
The Company has prepared the following consolidated report in accordance with DTR 4.3A of the Financial Conduct 
Authority Disclosure and Transparency Rules and in compliance with the Reports on Payments to Governments 
Regulations 2014 (SI 2014/3209), as amended by the Reports on Payments to Governments (Amendment) Regulations 2015 
(SI 2015/1928). 
 
Basis of preparation 
 
The Company discloses below payments made to governments of the Group's subsidiaries involved in extractive 
activities. The term 'government' includes a department, agency or entity that is controlled by the government 
authority. 
 
Reporting currency 
 
Where payments have been made in currencies other than the reporting currency (USD), the exchange rate existing at 
the time the payment is made has been used. 
 
Payment types disclosed at project level 
 
"Project" is defined as "operational activities governed by a single contract, license, lease, concession or 
similar legal agreements and form the basis for payment liabilities with a government". Where multiple such 
agreements are substantially interconnected, this was considered a project for the purpose of this report. 
 
The payments are presented on a cash basis, net of any interest and penalties on late tax payments. 
 
There were no payments in kind made to a Government during the year. 
 
The following payment types are disclosed for legal entities involved in extractive activities for the year ended 
31 December 2015: 
 
Bonuses 
 
Payments to governments based on cubic metres of gas discovered. 
 
Fees 
 
Payments to governments in the form of fees in relation to licence. 
 
Infrastructure 
 
Payments to governments to improved local infrastructure. 
 
Taxes 
 
Payments to governments includes taxes levied on the income, production or profits of companies. Taxes levied on 
consumption such as value added taxes, personal income taxes or sales taxes are not reportable under the 
Regulations. 
 
Excluded amounts 
 
Taxes levied on consumption such as value added taxes, personal income taxes, sales taxes, property and 
environmental taxes have not been included in this report. 
 
Payments summary 
 
Payments to governments by country and project made during the year ended 31 December 2015: 
 
 
=--------------------------------------------------------------------------------------------------- 
Country     Government                            Project     Bonus  Fees Infrastructure Taxes Total 
 
                                                              $'000 $'000          $'000 $'000 $'000 
=--------------------------------------------------------------------------------------------------- 
Kazakhstan  Treasury Committee of the Ministry    Akulka Gas 
            of Finance of Kazakhstan                              -   104             33    58   195 
 
                                                  Akulka Oil      -     -             54   718   772 
                                                  Kyzloi Gas    306     -             54    25   385 
                                                  Kul-Bas         -     -             22     -    22 
=--------------------------------------------------------------------------------------------------- 
Tajikistan  Tajikistan Tax Authority              Bokhtar PSC     -     -              -   130   130 
=--------------------------------------------------------------------------------------------------- 
Grand Total                                                     306   104            163   931 1,504 
=--------------------------------------------------------------------------------------------------- 
=--------------------------------------------------------------------------------------------------- 
 
 
FOR FURTHER INFORMATION PLEASE CONTACT: 
 
Tethys Petroleum 
[e-mail] 
Web: http://www.tethyspetroleum.com 
 
 
Tethys Petroleum Limited 
 

(END) Dow Jones Newswires

September 01, 2016 06:18 ET (10:18 GMT)