Tethys Oil have made a profit of $6.7 million for the first quarter of 2017 compared to a $2.3 million loss at the same time last year.
The result comes due to oil prices and production increasing, boosting revenues, at the same time as lower costs.
The firm has seen activity in previous undrilled fault blocks such as the Farha South field, the Shahd field and Erfan-1 in the Middle East.
Work is now progressing on optimising production and reservoir management on the Shahd fields and evaluating the exploration well, Ulfa-1.
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