09:52 AM EST - Tethys Petroleum Ltd. : reported a narrower net loss for the second quarter, due to fair value gain on derivative financial instrument, and higher production revenues. Net loss and comprehensive loss attributable to shareholders narrowed to $3.3 million U.S. or $0.02 U.S. per share for the second quarter from $5.6 million U.S. or $0.06 U.S. per share in the year-ago quarter. During the quarter, the company recorded fair value gain of $3.0 million U.S. on derivative financial instrument, compared to a loss of $101,000 U.S. a year ago. Total revenue and other income increased to $6.1 million U.S. from $2.8 million U.S. in the prior-year quarter. Tethys Petroleum Ltd.
shares T.TPL are trading down $0.02 at $1.62.
