/KASE, April 4, 12/ - Tethys Petroleum Limited (Channel Islands), common
shares of which are officially listed on Kazakhstan Stock Exchange (KASE),
provided to KASE the following press release of March 30, 2012:
quotation
GRAND CAYMAN, CAYMAN ISLANDS, Mar 30, 2012 (MARKETWIRE via COMTEX) - Tethys
Petroleum Limited ("Tethys" or the "Company") (TSX: TPL)(LSE: TPL) today
announced its Annual Results for the period ended December 31, 2011. Tethys
is focused on oil and gas exploration and production activities in Central
Asia with activities currently in the Republics of Kazakhstan, Tajikistan,
Uzbekistan. This highly prolific oil and gas area is rapidly developing
and Tethys believes that significant potential exists in both exploration
and in discovered deposits.
Operational Highlights
Kazakhstan
- Successfully tested the Doris AKD05 and AKD06 appraisal wells with
a combined flow rate of over 6,000 barrels of oil per day.
- 2P Reserves increased by 45% to 25.3 million barrels of oil equivalent.
- AKD03 (Dione) exploration well flowed commercial oil from a new
reservoir.
- KBD01 (Kalypso) exploration well drilled and logged with indications on the
logs that moveable hydrocarbons are present. To be tested later this year.
- Aral Oil Terminal land acquired and construction commenced (now
complete and about to commence operations)
Tajikistan
- Deep sub-salt exploration programme advanced with completion of
Graviometry Survey.
- EOL09 (East Olimtoi) exploration well discovers oil, believed to be the
first oil discovery in Tajikistan since independence - testing programme
about to recommence.
- Persea exploration well (the last commitment well under the Bokhtar PSC)
completed with potential logged hydrocarbons - to be tested after EOL09
well.
- Successful rehabilitation work on Beshtentak oilfield.
Uzbekistan
- Negotiations commenced on acquiring a new producing oil field.
- MOU signed to carry out exploration studies on a large acreage position
in the North Ustyurt Basin - the same basin which contains the Doris oil
discovery.
ends
The press release full version is available on KASE website at:
-
http://www.kase.kz/files/emitters/GG_TPL_/gg_tpl_reliz_300312.pdf - in
Russian;
-
http://www.kase.kz/files/emitters/GG_TPL_/gg_tpl_reliz_300312_e.pdf - in
English.
[2012-04-04]