Tethys Petroleum Limited (United Kingdom) informed on the results of testing of prospecting well AKK14

/KASE, April 7, 08/ - Tethys Petroleum Limited (Untied Kingdom), the common shares of which passed listing procedures on the special trading floor of the regional financial center of Almaty, provided KASE with the press release running as follows: Quotation start Tuesday, April 1, 2008, Bozoi settlement, Kazakhstan. Tethys Petroleum Limited announced that as a result of the tests of the prospecting well AKK14 the gas influx of two productive intervals with the total debit 377,000 cubic meter per day was received, which is the highest well debit registered as for today. AKK14 well was bored in the central part of the licensing area Akkulka between the two disclosed anomalies AKK13 and AKK14 and opened two prospective intervals; the interval in productive strata of Kyzyloi area (productive part of collector layer on the license area Tethys near Kyzyloi deposit) and a deeper interval of Tasaran productive strata. Until today, Tasaran was considered as productive strata, and the majority of the bored prior short gas holes did not open this interval. However, the interpretation and analysis of the seismic exploration works, conducted last year on this area for purposes of gas zones disclosure, resulted in the decision on boring of AKK14 well for purposes of study of Kyzyloi and Tasaran structures, specified as the second prospective object in this region. The final depth of the well is 656 м, at this the well opened the roofs of Tasaran productive strata at 605 м. depth and Kyzyloi strata at 490 м depth. According to the gas measurement research data, the gas is present at both zones. This was confirmed by two separate tests on influx, conducted on the well. The interval of productive strata Tasaran gave gas influx with a stable debit 212,000 cubic meters per day with dynamic pressure at surface 11,1 atm. at 30 mm. nose piece. Kyzyloi productive strata gave a gas influx with a stable debit of 164,000 cubic meters per day with dynamic pressure at surface 10,4 atm at 30 мм. nose piece. To prove the amount of the deposit, further explorations are required. This is the first industrial gas disclosure on Tasaran productive strata on the area, which opens new prospects for the Company on the territory of Akkulka and Kulbas blocks. Tasaran productive strata is characterized by presence of solid sandstone packs with a segment structure, being significantly thick (up to 6 meters) and average granulity, which is a common parameter for collectors of this region in comparison with overlapping finely granular Kyzyloi strata, characterized by less significant thickness. Taking into consideration recent hydrocarbon developments on Tasaran strata, Tethys started to revise the exiting seismic petrophysical data. The company has already pointed out several potential zones in Tasaran thickness for further tests in the well bored prior, and also new prospective areas for further exploration on the territory of Akkulka and Kulbas blocks, planned for the current year. "This well is the most successful disclosure for today! We have not only progressed in exploration of Kyzyloi development, but also have disclosed new prospects of gas bearing capacity in a new productive region with significant opportunities of stock gain. More detailed seismic exploration of Akkulka and Kulbas blocks allowed receiving more detailed data. As a result of which this disclosure became possible. This in its turn opened new prospects for our deposit. Last statements of OAO Gazprom on their readiness to pay for gas supply from Central Asia according to the European level prices, will cause increase of the procurement prices in 2009, which will immediately increase our profits at the second stage of development at mining in Q4 2008, and positively influence on further prospects of development of new objects, such as Tarasan", - Dr. David Robson, Chairman, President and Head executive director of Tethys informed. Tethys is operating in oil and gas exploration and production sector in Central Asia, mainly in Kazakhstan, and since recently in Tajikistan. Tethys is positive, that these regions, having substantial potential of oil and gas deposits, are of great prospects for development of those disclosed and explored hydrocarbon deposits. This press release contains assumptive assessments and may include industrial company operation activities information. The current valuations provided show our vision of future events and bear some risks, uncertainties and assumptions, including risks and uncertainties, provided in the section "Risks and Uncertainties Factors" in our prospect (available at www.sedar.com). In case one of these risks materializes, or the assumptions indicated will be incorrect, the actual results may substantially vary from those supposed, expected or assessed. For more information please contact: Sabin Rossi Vice-president for Investors Relations Tethys Petroleum Limited TD Canada Trust Tower 161 Bay Street, 27 floor Toronto N5J 2S1 Canada Office: 1.416.572.2065 Fax: 1.416.572.2201 Mobile: 1.617.669.1841 e-mail: info@tethys.gg website: www.tethyspetroleum.com In Kazakhstan Ardak Akanov Managing director PG Communications Almaty, Samal-2, Business center Satty Tel/fax: 2 72 88 67, 2 72 82 37, 2 72 77 45 Mobile: +77017115604 e-mail: development@pressclub.kz quotation end [2008-04-07]