/KASE, December 20, 11/ - Tethys Petroleum Limited (Channel Islands),
whose common shares are officially listed at Kazakhstan Stock Exchange
(KASE), has provided to KASE the following press-release of December 13,
2011:
quote
Tethys Petroleum Limited ("Tethys" or the "Company") (TSX: TPL)(LSE: TPL)
today announced that it has completed the purchase of 34% of the shares in
Seven Stars Energy Corporation from its Tajik joint venture partner Sangam
Limited, and increased its shareholding to 85% (from 51%).
Seven Stars Energy Corporation is the owner of the rights to the Bokhtar
Production Sharing Contract ("Bokhtar PSC") in Tajikistan.
- Tethys now owns a 85% controlling interest in the Bokhtar PSC.
- 1.14 Billion barrels oil equivalent (7 TCF) audited unrisked Prospective
Resources are contained within the Contract Area.
- Excellent commercial terms fixed under a 25-year Production Sharing
Contract.
- 35,000 Km2 (8.7 million acres) of the underexplored Afghan-Tajik Basin with
world class discovered fields nearby.
- Current oil production.
- Ongoing data acquisition in final stages with ultimate goal to drill the first
deep pre-salt exploration well in the near future.
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_131211.pdf
[2011-12-20]