Tethys Petroleum complies with the corporate governance guidelines outlined by the Toronto Stock Exchange where the Company has its primary listing. The Company's Board consists of a majority of independent non-executive directors and the Company's Audit Committee and Compensation and Nomination Committee are made up entirely of independent non-executive directors. On its Board the Company has a broad range of experience and skills including technical, commercial, banking and finance. The Company has in place a Code of Ethics, a Share Trading Policy and appropriate Health, Safety and Environment (HSE) procedures, both corporately and at local level.
The Board of Directors is committed to a high standard of corporate governance practices. The Board believes that this commitment is not only in the best interests of shareholders but that it also promotes effective decision making at Board level. The Board is of the view that its approach to corporate governance is appropriate and continues to work to align with the recommendations currently in effect and contained in NP 58 201. In addition, the Board monitors and considers for implementation the corporate governance standards which are proposed by various Canadian regulatory authorities.