Tethys Petroleum Limited (United Kingdom) 2008 performance results

/KASE, April 2, 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 press release on the following: Quotation start Tuesday, March 31, 2009 - Georgetown, Grand Cayman, Cayman Islands - Tethys Petroleum Limited ("Tethys" or the "Company") (TSX: TPL) today announced its Annual Results for the period ended December 31, 2008. The full Annual Results together with a Management Discussion & Analysis have been filed with the Canadian securities regulatory authorities. Tethys also announced that it has filed its Annual Information Form ("AIF") which contains reserves data and other information about the Company for the period ended December 31, 2008, and the reports as mandated by National Instrument 51-101. Copies of the filed documents may be obtained via SEDAR at www.sedar.com or on Tethys'websiteat www.tethyspetroleum.com. The summary financial statements are attached to this press release. Highlights - The Company generated revenues from gas sales of US$5.36 million in the year ended December 31, 2008 compared to US$0.194 million in the year ended December 31, 2007. - The Company recorded a net loss of US$22.627 million in the year ended December 31, 2008 compared to US$41.779 million in the year ended December 31, 2007. - The Company had a cash and working capital surplus of US$21.489 million in the year ended December 31, 2008 compared to US$25.773 million in the year ended December 31, 2007. - Capital expenditure in the year ended December 31, 2008 was US$42.343 compared to US$ 23.001 million in the year ended December 31, 2007. - Operating costs in the year ended December 31, 2008 were US$1.334 million compared to US$0.019 million in the year ended December 31, 2007 (the 2007 figure covered only 12 days of production). - General and Administrative costs in the year ended December 31, 2008 were US$13.421 million compared to US$9.461 million in the year ended December 31, 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, 2008 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 [2009-04-02]