Table of Contents Table of Contents 2 List of Tables 4 List of Figures 5 Company Snapshot 7 Key Information 7 Company Overview 7 Tethys Petroleum Limited, Valuation and Financial Data 8 Tethys Petroleum Limited, Share Price Performance 8 Share Price Performance, Q1, 2015-Q1, 2016 8 Tethys Petroleum Limited, Key Valuation Metrics 9 Key Valuation Metrics, Q1, 2015-Q1, 2016 9 Tethys Petroleum Limited, Quarterly Results of Oil & Gas Operations Per boe Produced 10 Results of Oil & Gas Operations Per boe Produced, Q1, 2015-Q1, 2016 10 Results of Oil & Gas Operations Per boe Growth Rates, Q1, 2015-Q1, 2016 11 Tethys Petroleum Limited, Quarterly E&P Costs Trends 12 Upstream Capital Expenditure, Q1, 2015-Q1, 2016 12 Tethys Petroleum Limited, Quarterly Production Trends 13 Tethys Petroleum Limited, Total Oil and Gas Production 13 Total Crude Oil and Natural Gas Production Trend, Q1, 2015-Q1, 2016 13 Total Crude Oil & Natural Gas Production, By Country/Region, Q1, 2015-Q1, 2016 14 Tethys Petroleum Limited, Crude Oil Production 15 Total Crude Oil Production Trend, Q1, 2015-Q1, 2016 15 Crude Oil Production, By Country/Region, Q1, 2015-Q1, 2016 16 Tethys Petroleum Limited, Natural Gas Production 17 Total Natural Gas Production Trend, Q1, 2015-Q1, 2016 17 Natural Gas Production, By Country/Region, Q1, 2015-Q1, 2016 18 Tethys Petroleum Limited, Valuation and Financial Data, 2011-2015 19 Tethys Petroleum Limited, Share Price Performance, 2011-2015 19 Share Price Performance, 2011-2015 19 Key Valuation Metrics, 2011-2015 20 Tethys Petroleum Limited, Production and Reserves Trends 21 Total Oil and Gas, Reserves and Production 21 Total Crude Oil and Natural Gas Production and Reserves Trend, 2011-2015 21 Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2011-2015 23 Total Crude Oil and Natural Gas Reserve Changes, 2011-2015 25 Crude Oil/Liquids Production and Reserve 26 Crude Oil/Liquids Production and Reserve Trend, 2011-2015 26 Crude Oil Production and Reserves By Country/Region, 2011-2015 27 Crude Oil/Liquids Reserve Changes, 2011-2015 29 Natural Gas Production and Reserve 30 Natural Gas Production and Reserve Trend, 2011-2015 30 Natural Gas Production and Reserves, By Country/Region, 2011-2015 31 Natural Gas Reserve Changes, 2011-2015 33 Total Crude Oil and Natural Gas Reserves Life Index 34 Total Crude Oil and Natural Gas Reserves Life Index, 2011-2015 34 Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2011-2015 35 Tethys Petroleum Limited, E&P Costs Trends 37 Allocation of the Upstream Capital Expenditure 37 Upstream Capital Expenditure, 2011-2015 37 Exploration and Development Costs, By Country/Region, 2011-2015 38 Oil and Gas Cost Per boe, US$/boe 40 Oil and Gas Cost Per boe, US$/boe, 2011-2015 40 Oil and Gas Cost Per boe, US$/boe, By Country/Region, 2011-2015 42 Tethys Petroleum Limited, Reserve Replacement Ratio 44 Oil and Gas Production Replacement Ratio 44 Oil and Gas Production Replacement Ratio, 2011-2015 44 Oil and Gas Production Replacement Ratio, By Country/Region, 2011-2015 46 Tethys Petroleum Limited, Results of Oil & Gas Operations Trend 50 Oil and Gas Revenue and Expenses 50 Oil and Gas Revenue and Expenses, 2011-2015 50 Oil and Gas Revenue and Expenses, By Country/Region, 2011-2015 51 Oil and Gas Revenue and Expenses, Per boe 54 Oil and Gas Revenue and Expenses, By boe, 2011-2015 54 Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2011-2015 55 Oil and Gas Performance Metrics 57 Tethys Petroleum Limited, Land Holdings and Well Data 58 Developed and Undeveloped Acreage 58 Gross and Net Developed and Undeveloped Acreage, 2011-2015 58 Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2011-2015 59 Well Statistics 61 Producible Oil and Gas Well, 2011-2015 61 Producible Oil and Gas Well, By Country/Region, 2011-2015 62 Exploration and Development Wells Drilled, 2011-2015 67 Recent Developments 68 Tethys Petroleum Limited - Recent Developments 68 Oct 01, 2016: Tethys Petroleum Announces Kazakhstan Legal Proceedings 68 Sep 30, 2016: Tethys Petroleum: Kazakhstan Legal Proceedings 68 Sep 16, 2016: Tethys Petroleum Provides Corporate Update 68 Sep 02, 2016: Tethys Petroleum Provides Corporate Update 69 Aug 23, 2016: Tethys Petroleum: Par Value Reduction And Corporate Update 69 Aug 15, 2016: Tethys Petroleum Announces 2016 Q2 Results 70 Aug 02, 2016: Tethys Petroleum Announces Management Changes 71 Jul 13, 2016: Tethys Petroleum Announces Chief Commercial Officer Appointment 72 Jul 13, 2016: Tethys Petroleum: Chief Commercial Officer Appointment 72 Jun 20, 2016: Tethys Petroleum Provides Corporate Update 73 Appendix 75 Methodology 75 Coverage 75 Secondary Research 75 Primary Research 75 Data Information Sources 76 Company Source 76 SEC/Other Regulatory Filings 76 Other Sources 76 Expert Panel Validation 76 Data Definition 76 Oil and Gas Reserves 76 Units of Measure 77 About GlobalData 77 Disclosure 77 Disclaimer 77

List of Tables Table 1: Tethys Petroleum Limited, Key Facts 7 Table 2: Tethys Petroleum Limited, Share Price Performance, Q1, 2015-Q1, 2016 8 Table 3: Tethys Petroleum Limited, Key Valuation Metrics, Q1, 2015-Q1, 2016 9 Table 4: Tethys Petroleum Limited, Results of Oil & Gas Operations Per boe Produced, US$/boe, Q1, 2015-Q1, 2016 10 Table 5: Tethys Petroleum Limited, Results of Oil & Gas Operations Per boe Growth Rates, %, Q1, 2015-Q1, 2016 11 Table 6: Tethys Petroleum Limited, Upstream Capital Expenditure, Q1, 2015-Q1, 2016 12 Table 7: Tethys Petroleum Limited, Total Crude Oil and Natural Gas, Production, Q1, 2015-Q1, 2016 13 Table 8: Tethys Petroleum Limited, Total Oil & Gas Production, By Country/Region, mmboe, Q1, 2015-Q1, 2016 14 Table 9: Tethys Petroleum Limited, Total Crude Oil Production, mmbbl, Q1, 2015-Q1, 2016 15 Table 10: Tethys Petroleum Limited, Crude Oil Production, By Country/Region, mmbbl, Q1, 2015-Q1, 2016 16 Table 11: Tethys Petroleum Limited, Total Natural Gas Production, bcf, Q1, 2015-Q1, 2016 17 Table 12: Tethys Petroleum Limited, Natural Gas Production, By Country/Region, bcf, Q1, 2015-Q1, 2016 18 Table 13: Tethys Petroleum Limited, Share Price Performance, 2011-2015 19 Table 14: Tethys Petroleum Limited, Key Valuation Metrics, 2011-2015 20 Table 15: Tethys Petroleum Limited, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 22 Table 16: Tethys Petroleum Limited, Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2011-2015 24 Table 17: Tethys Petroleum Limited, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2011-2015 25 Table 18: Tethys Petroleum Limited, Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 26 Table 19: Tethys Petroleum Limited, Crude Oil Production and Reserves, By Country/Region, mmbbl, 2011-2015 28 Table 20: Tethys Petroleum Limited, Crude Oil Reserve Changes, mmbbl, 2011-2015 29 Table 21: Tethys Petroleum Limited, Natural Gas Production and Reserves Metrics, bcf, 2011-2015 30 Table 22: Tethys Petroleum Limited, Natural Gas Production and Reserves, By Country/Region, bcf, 2011-2015 32 Table 23: Tethys Petroleum Limited, Natural Gas Reserve Changes, bcf, 2011-2015 33 Table 24: Tethys Petroleum Limited, Oil and Gas Reserves Life Index, Years, 2011-2015 34 Table 25: Tethys Petroleum Limited, Oil and Gas Reserves Life Index, By Country/Region, Years, 2011-2015 36 Table 26: Tethys Petroleum Limited, Upstream Capital Expenditure, US$ mil, 2011-2015 37 Table 27: Tethys Petroleum Limited, Exploration and Development Costs, By Country/Region, US$ mil, 2011-2015 39 Table 28: Tethys Petroleum Limited, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2011-2015 41 Table 29: Tethys Petroleum Limited, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2011-2015 43 Table 30: Tethys Petroleum Limited, Oil and Gas Production Replacement Ratio, %, 2011-2015 45 Table 31: Tethys Petroleum Limited, 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2011-2015 49 Table 32: Tethys Petroleum Limited, Revenue and Expenses, US$ mil, 2011-2015 50 Table 33: Tethys Petroleum Limited, Revenue and Expenses, By Country/Region, US$ mil, 2011-2015 53 Table 34: Tethys Petroleum Limited, Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 54 Table 35: Tethys Petroleum Limited, Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2011-2015 56 Table 36: Tethys Petroleum Limited, Oil and Gas Performance Metrics, 2011-2015 57 Table 37: Tethys Petroleum Limited, Land Holdings (Developed and Undeveloped Acreage), Acres, 2011-2015 58 Table 38: Tethys Petroleum Limited, Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2011-2015 60 Table 39: Tethys Petroleum Limited, Producible Oil and Gas Wells, 2011-2015 61 Table 40: Tethys Petroleum Limited, Producible Oil and Gas Wells, By Country/Region, 2011-2015 66 Table 41: Tethys Petroleum Limited, Exploratory and Developed Wells, 2011-2015 67 List of Figures Figure 1: Tethys Petroleum Limited, Share Price Performance, CAD/Share, Q1, 2015-Q1, 2016 8 Figure 2: Tethys Petroleum Limited, Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve ($/boe), Q1, 2015-Q1, 2016 9 Figure 3: Tethys Petroleum Limited, Results of Oil & Gas Operations Per boe Produced, US$/boe, Q1, 2015-Q1, 2016 10 Figure 4: Tethys Petroleum Limited, Upstream Capital Expenditure, US$ mil, Q1, 2015-Q1, 2016 12 Figure 5: Tethys Petroleum Limited, Total Crude Oil and Natural Gas, Production, mmboe, Q1, 2015-Q1, 2016 13 Figure 6: Tethys Petroleum Limited, Total Oil & Gas Production, By Country/Region, mmboe, Q1, 2015-Q1, 2016 14 Figure 7: Tethys Petroleum Limited, Total Crude Oil Production, mmbbl, Q1, 2015-Q1, 2016 15 Figure 8: Tethys Petroleum Limited, Crude Oil Production, By Country/Region, mmbbl, Q1, 2015-Q1, 2016 16 Figure 9: Tethys Petroleum Limited, Total Natural Gas Production, bcf, Q1, 2015-Q1, 2016 17 Figure 10: Tethys Petroleum Limited, Natural Gas Production, By Country/Region, bcf, Q1, 2015-Q1, 2016 18 Figure 11: Tethys Petroleum Limited, Share Price Performance, CAD/Share, 2011-2015 19 Figure 12: Tethys Petroleum Limited, Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve (US$/boe), 2011-2015 20 Figure 13: Tethys Petroleum Limited, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 21 Figure 14: Tethys Petroleum Limited, Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2011-2015 23 Figure 15: Tethys Petroleum Limited, Total Oil & Gas Production, By Country/Region, mmboe, 2011-2015 23 Figure 16: Tethys Petroleum Limited, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2015 25 Figure 17: Tethys Petroleum Limited, Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 26 Figure 18: Tethys Petroleum Limited, Oil Reserves, End of Period, By Country/Region, mmbbl, 2011-2015 27 Figure 19: Tethys Petroleum Limited, Oil Production, By Country/Region, mmbbl, 2011-2015 27 Figure 20: Tethys Petroleum Limited, Crude Oil Reserve Changes, mmbbl, 2015 29 Figure 21: Tethys Petroleum Limited, Natural Gas Production and Reserves Metrics, bcf, 2011-2015 30 Figure 22: Tethys Petroleum Limited, Gas Reserves, End of Period, By Country/Region, bcf, 2011-2015 31 Figure 23: Tethys Petroleum Limited, Gas Production, By Country/Region, bcf, 2011-2015 31 Figure 24: Tethys Petroleum Limited, Natural Gas Reserve Changes, bcf, 2015 33 Figure 25: Tethys Petroleum Limited, Oil and Gas Reserves Life Index, Years, 2011-2015 34 Figure 26: Tethys Petroleum Limited, Gas Reserve Life Index, By Country/Region, Years, 2011-2015 35 Figure 27: Tethys Petroleum Limited, Oil & Gas Reserve Life Index, By Country/Region, Years, 2011-2015 35 Figure 28: Tethys Petroleum Limited, Oil Reserve Life Index, By Country/Region, Years, 2011-2015 36 Figure 29: Tethys Petroleum Limited, Upstream Capital Expenditure, US$ mil, 2011-2015 37 Figure 30: Tethys Petroleum Limited, Development Costs, By Country/Region, US$ mil, 2011-2015 38 Figure 31: Tethys Petroleum Limited, Exploration Costs, By Country/Region, US$ mil, 2011-2015 38 Figure 32: Tethys Petroleum Limited, 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2011-2015 40 Figure 33: Tethys Petroleum Limited, Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 42 Figure 34: Tethys Petroleum Limited, Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 42 Figure 35: Tethys Petroleum Limited, Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 43 Figure 36: Tethys Petroleum Limited, 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2011-2015 44 Figure 37: Tethys Petroleum Limited, 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2011-2015 46 Figure 38: Tethys Petroleum Limited, 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2011-2015 46 Figure 39: Tethys Petroleum Limited, 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2011-2015 47 Figure 40: Tethys Petroleum Limited, 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2011-2015 47 Figure 41: Tethys Petroleum Limited, 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2011-2015 48 Figure 42: Tethys Petroleum Limited, 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2011-2015 48 Figure 43: Tethys Petroleum Limited, Revenue and Expenses, US$ mil, 2011-2015 50 Figure 44: Tethys Petroleum Limited, Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 51 Figure 45: Tethys Petroleum Limited, Oil & Gas Revenue, By Country/Region, US$ mil, 2011-2015 51 Figure 46: Tethys Petroleum Limited, Production Costs, By Country/Region, US$ mil, 2011-2015 52 Figure 47: Tethys Petroleum Limited, Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 54 Figure 48: Tethys Petroleum Limited, Lifting Cost per boe, By Country/Region, US$/boe, 2011-2015 55 Figure 49: Tethys Petroleum Limited, Oil & Gas Revenue per boe, By Country/Region, US$/boe, 2011-2015 55 Figure 50: Tethys Petroleum Limited, Total Revenue per boe, By Country/Region, US$/boe, 2011-2015 56 Figure 51: Tethys Petroleum Limited, Oil and Gas Performance Metrics, 2011-2015 57 Figure 52: Tethys Petroleum Limited, Land Holdings (Developed and Undeveloped Acreage), Acres, 2011-2015 58 Figure 53: Tethys Petroleum Limited, Total Gross Undeveloped Acreage, By Country/Region, Acres, 2011-2015 59 Figure 54: Tethys Petroleum Limited, Total Net Undeveloped Acreage, By Country/Region, Acres, 2011-2015 59 Figure 55: Tethys Petroleum Limited, Producible Oil and Gas Wells, 2011-2015 61 Figure 56: Tethys Petroleum Limited, Gross Productive Gas Wells, By Country/Region, Number, 2011-2015 62 Figure 57: Tethys Petroleum Limited, Gross Productive Oil & Gas Wells, By Country/Region, Number, 2011-2015 62 Figure 58: Tethys Petroleum Limited, Gross Productive Oil Wells, By Country/Region, Number, 2011-2015 63 Figure 59: Tethys Petroleum Limited, Net/Gross Oil & Gas Ratio, By Country/Region, %, 2011-2015 63 Figure 60: Tethys Petroleum Limited, Net Productive Gas Wells, By Country/Region, Number, 2011-2015 64 Figure 61: Tethys Petroleum Limited, Net Productive Oil & Gas Wells, By Country/Region, Number, 2011-2015 64 Figure 62: Tethys Petroleum Limited, Net Productive Oil Wells, By Country/Region, Number, 2011-2015 65 Figure 63: Tethys Petroleum Limited, Exploratory and Developed Wells, 2011-2015 67