/KASE, October 15, 2020/ – Tethys Petroleum Limited (Cayman Islands),
whose shares are officially listed on Kazakhstan Stock Exchange (KASE), has
provided KASE with the following press release of October 14, 2020:
quote
Grand Cayman, Cayman Islands - Tethys Petroleum Limited (TSXV: TPL)
("Tethys" or the "Company") today provides a corporate update.
Operations update
Activities for drilling of AKD-12 (depth -1200m) and AKD-33 gas wells are moving
forward with the start of drilling anticipated for middle of October. It is
anticipated that the drilling operations will be completed on both wells by the
end of November. The AKD-12 is believed to have potential for an oil find in
addition to gas.
Tethys also has entered into contracts for the acquisition, interpretation and
analysis for 3D seismic for the Klymene field and additional acreage in the
Kyzloi/Akulka fields. The estimated cost is about $3.5mm USD with an
expectation of this work being completed by the end of June, 2021.
Tethys has started the production testing of the third zone of KBD-02 (Klymene).
The well was perforated on Sunday, October 11, 2020. The initial testing used
chokes ranging from 5 mm to 15 mm. The rate of production ranged from
approximately 630 barrels per day using the 5 mm choke to 4,185 barrels per
day using the 15 mm choke. While these test results are encouraging, they
should be considered preliminary until the tests are carried out over a longer
period and help confirm the ability to sustain these production rates over
longer periods.
unquote
The complete press release is available on KASE website:
-
https://kase.kz/files/emitters/KY_TPL_/ky_tpl__reliz_141020_1.pdf – in
Russian;
-
https://kase.kz/files/emitters/KY_TPL_/ky_tpl__reliz_141020_en.pdf – in
English.
[2020-10-15]