Tethys Petroleum Limited (United Kingdom) recommences Kyzyloi gas production
06.03.09 15:47
/KASE, March 6, 09/ - Tethys Petroleum Limited (Channel Islands), common
shares of which are present in the official list of the Special Trading Floor of
the Regional Financial Center of Almaty, provided to Kazakhstan Stock Exchange
(KASE) the pres release on the following:
Quotation start
BOZOI, KAZAKHSTAN, March 5, 2009 (MARKET WIRE via COMTEX) -- Tethys
Petroleum Limited ("Tethys" or the "Company")(TSX: TPL) today announced that
gas production from its Kyzyloi gas field in Kazakhstan has recommenced.
Gas production recommenced at 14:00 Bozoi time today with gas flowing through
the Kyzyloi Booster Compressor Station ("BCS") into the Bukhara-Urals gas
trunkline system at km910. Gas production from the Kyzyloi Field had been
temporarily suspended while works were undertaken at the BCS in order to add
additional compressors and other equipment primarily in connection with bringing
on production Phase 2 of the gas development which will involve gas production
from several wells in the Akkulka block surrounding Kyzyloi. Upgraded gas
measurement equipment and equipment for continuous chromatographic analysis
has also been installed at the BCS in order to meet new Kazakh requirements for
the gas trunkline.
The Kyzyloi Field is now producing from eight wells, which includes the recently
commissioned G12 and G16 wells, and the current gas production rate is 662,000
cubic metres (23.4 million cubic feet) per day, but is expected to stabilise at
approximately 566,000 cubic metres (20 million cubic feet) per day over the next
week.
The main activities at the BCS for Phase 2 has involved the installation of two
further compressor units (making five in total). Despite extreme winter weather
conditions the major parts of this work are now completed and as such the
Kyzyloi production is now able to come back on stream. Work continues on the
final installation and commissioning of Phase 2 and it is expected that this work
will be complete by the end of this month following which a governmental
commission would certify Phase 2 to commence gas production.
Tethys is focused on oil and gas exploration and production activities in Central
Asia with activities currently in the Republics of Kazakhstan and Tajikistan. This
highly prolific oil and gas area is rapidly developing and Tethys believes that
significant potential exists in both exploration and in discovered deposits.
This press release contains "forward-looking information" which may include, but
is not limited to, statements with respect to our operations. Such forward looking
statements reflect our current views with respect to future events and are subject
to certain risks, uncertainties and assumptions. See our Annual Information Form
for the year ended December 31, 2007 for a description of risks and uncertainties
relevant to our business, including our exploration activities.
For more detailed information, please contact:
Sabin Rossi)
Vice President Investor Relations
Tethys Petroleum Limited
TD Canada Trust Tower
161 Bay Street, 27th Floor
Toronto N5J 2S1
Canada
Office:+1 416 572 2065
Fax:+1 416 572 2201
e-mail:info@tethyspetroleum.com
website: www.tethyspetroleum.com
PG Communications
Ardak Akanov, Managing Director
PG Communications
Almaty, Samal-2, Business Center "Satti"
tel./fax:+7 (727) 272 8867, +7 (727) 272 8237
e-mail: development@pressclub.kz
Quotation end
[2009-03-06]