Auditor’s report on consolidated financial statements of Tethys Petroleum Limited for 2018 published
/KASE, May 17, 2019/ – Tethys Petroleum Limited (Cayman Islands), whose shares 
are officially listed on the Kazakhstan Stock Exchange (KASE), provided KASE with 
auditor's report on the company's consolidated financial statement for

According to audited data as at December 31, 2018 
(in thous. KZT, unless otherwise specified):

                             as at         as at 
Indicator             Dec. 31, 2018 Dec. 31, 2017
--------------------- ------------- -------------
Equity                       56,257        47,603
Total assets                108,732       116,923
Total liabilities            52,475        69,320
Sales volume                 10,339         7,998
Net income (net loss)         4,521       -47,476
ROA, %                         4.16        -40.60
ROE, %                         8.04        -99.73
ROS, %                        43.73       -593.60

The company's financial statements for 2018 were audited by Grant Thornton UK LLP. 
According to the auditor’s report, the consolidated financial statements give a 
true and fair view of the state of the Group’s affairs as at 31 December 2018 and 
of the Group’s loss for the year then ended; they have been properly prepared in 
accordance with IFRSs issued by the IASB and have been prepared in accordance 
with the requirements of the Cayman Islands Companies Law.

The auditor’s report contains key observations, which stipulate that a material 
uncertainty exists that may cast significant doubt over the Group’s ability to 
continue as a going concern.

The report is available on KASE website at
- – in Russian;
- – in English.