/KASE, August 5, 09/ - Tethys Petroleum Limited (Channel Islands), common
shares of which are listed on the special trading floor of the Regional
Financial Center of Almaty, provided Kazakhstan Stock Exchange (KASE) with
a press release dated August 3, 2009:
Quotation beginning
Saint-Peter-Port, Gernsey, Norman Islands - Tethys Petroleum Limited ("Tethys"
or "the Company") (TSX: TPL) today provided updated information on operations
the company runs in Kazakhstan, Tajikistan and Uzbekistan. Tethys is an
independent company, engaged in exploration and mining of oil and gas in the
Central Asia.
Highlights:
- Currently in Kazakhstan Tethys has renewed drilling of deep prospecting hole
AKD01. The drilling depth is 2250 m, the project depth is 3400-4500 m,
depending on the results. An independent report on calculation of deposits,
prepared in 2007 by McDaniel and Associates Company, says that deep
structures of contracted territories of Tethys in Kazakhstan contain up to
690 m barrels of oil equivalent of non-risk potential deposits.
- Also in Kazakhstan the Company in full renewed mining of gas at Kzyloy
deposit. Currently the company mines 513 th sq.m./per day, with plans to
gradually increase daily output up to 566 th sq.m./per day. Gas production
from deposit Central Akkulka (the second stage) was tested and connected
to the gas pipeline. All pumps have been completely assembled and the
whole system has been approved by the state commissioning team. It is
expected, production will start after conclusion of a contract for mining with
the Ministry of Energy and Mineral Resources of the Republic of Kazakhstan,
terms of which have been agreed with. The contract is to be signed in
September this year.
- The company is planning in Tajikistan to start drilling hole Komsomolsk 200
("KOM200"). The hole will be drilled to explore deposits and contingent gas
resources in the eastern part of the Komsomolsk gas deposit near the
northern part of Dushanbe. Tethys thinks undeveloped gas is located in the
eastern part of the deposit. This is the first new hole, which Tethys is
drilling in Tajikistan after signing an agreement on Bokhtar area in June 2008.
- Additional drilling is conducted in prospecting hole Vostochniy Olimtoy
(EOL09), located on domed salt of prospective deposit towards South-East of
Kulyab in South Tajikistan a bit to the North of Paynj river. Currently the
depth of the hole is 2,604 m, it is expected to reach 2,900 m. The drilling is
directed аt Paleogene deposits, with productive potential to the North at oil
field Beshtentak, and gas condensate field Hodzha Sartez. Planned projected
depth of the hole is 3,800 through 4,500 meters.
- Besides, in Tajikistan the company is running a program of seismic
exploration on Bokhtar area according to the Agreement (34,751 sq.km); the
company received seismic data for area near Dushanbe, field staff now are
collecting data at Kulyab area in eastern part of Bokhtar area.
- In Uzbekistan current volume of production of additional volumes of oil within
the Agreement on increase of output at deposit Severniy Urtabulak is 2065
barrels a day, Tethys is producing 1031 barrels a day, after the state
acquired its share. These volumes show significant increase of oil output
since Tethys had acquired a share in the project in April 2009.
For further information, please, contact:
Sabin Rossi
Vice-president Investor Relations
Tethys Petroleum Limited
TD Canada Trust Tower
161 Bay Street, 27th Floor
Toronto N5J 2S1Canada
Office:+1 416 572 2065
Fax:+1 416 572 2201
e-mail:info@tethyspetroleum.com
Website: www.tethyspetroleum.com
In Kazakhstan
Ardak Akanov
Managing director
PG Communications
Almaty Samal-2, Business center Satti
Office tel/fax:+7 (727) 272 8867, +7 (727) 272 8237,
+7 (727) 272 7745
E-mail: development@pressclub.kz
Quotation end
Full version of the press release is available at the KASE website at:
http://www.kase.kz/files/emitters/GG_TPL_/gg_tpl_reliz_030809.pdf
[2009-08-05]