/KASE, December 7, 11/ - Tethys Petroleum Limited (Channel Islands), whose
common shares are officially listed at Kazakhstan Stock Exchange (KASE), has
provided KASE with the following press-release of December 2, 2011:
quote
Tethys Petroleum Limited ("Tethys" or the "Company") (TSX:TPL)(LSE:TPL) today
provided an overview of its Tajikistan asset and the recently signed Option
Agreement.
- Tethys has a Production Sharing Contract for 25-years (signed June 2008)
covering an area of 35,000 km2.
- Excellent commercial terms: Tethys takes 91% of the oil/gas during the cost
recovery period and 70% after costs have been recovered. There are no other
taxes, levies or duties.
- The Afghan-Tajik basin is part of and an extension of the Amu-Darya basin,
one of the most prolific gas/condensate basins in the world. The Amu-Darya
basin has many giant fields such as the South Yolotan Field in Turkmenistan
with 749 TCF reserves (the second largest gas field in the world) and Tethys
believes Tajikistan has similar potential.
- Tethys is targeting the same stratigraphic horizons in Tajikistan existing
below the salt layer. These horizons have never been drilled.
- 1.14 Billion barrels oil equivalent (7 TCF) audited unrisked Prospective
Resources are contained within the block.
unquote
The full version of the press-release is available on KASE website, at
http://www.kase.kz/files/emitters/GG_TPL_/gg_tpl_reliz_021211.pdf
[2011-12-07]