Company Tethys Petroleum Limited (United Kingdom) informed on public offering of common shares to the total amount of $50 m.

/KASE, July 1, 08/ - Company Tethys Petroleum Limited (Channel Islands), common shares of which are included into the official list of the Special Trading Floor of the Regional Financial Center of Almaty (STF RFCA), provided to Kazakhstan Stock Exchange (KASE) the press release of the following content: Quotation start Friday, June 27, 2008, Toronto, Canada - company Tethys Petroleum Limited (Hereinafter: Tethys) today announced on completion of the deal on public offering of 21 276 596 common shares to the total amount of USD50 m. (hereinafter: (Investment proposal). The sale price of common shares made up USD2.35 per share. After the proposal, Tethys became the owner of 66 393 292 common shares to the amount of USD160 m. the company common shares are traded on Toronto Stock Exchange under symbol "TPL". Net incomes from the proposal Tethys will use for projects development as capital costs, turnover and corporate goals. Investment proposal was made through Jennings Capital Inc. as the leading agent and TD Securities Inc. as an auxiliary of the leading agent. Quam Securities Company Limited from Hong-Kong and Brokerage Company Astana-Finance JSC (Kazakhstan) acted as special sales agents. Dr David Robson, Tethys Chief Executive Officer, commenting this news said: "we are happy with the success of our investment proposal; demand for our securities exceeded the supply. The investment proposal must ensure implementation of our plans on exploration and development of projects in Tajikistan and Kazakhstan and continuation of our strategy in Central Asia". Tethys is specialized on exploration and production of oil and gas in Central Asia; at present Tethys operates in Kazakhstan and Tajikistan. Objects developed and explored by the company in Kazakhstan are located near the Aral Sea, in Western Kazakhstan within North-Ustyurt basin, joining to the rich Caspian basin. In Tajikistan Tethys operates in Afghan-Tajik basin (extension of Amu-Darya basin) within the production sharing contract; the covered area is about 34 785 sq. km. in the south-eastern part of the country. This press-release does not contain the proposal and is not an attempt to get proposal on purchasing of securities, specified in this issue. The mentioned securities were not and will not be registered according to the Act of USA on Securities, 1933, considering changes and additions (Act of USA on Securities) or according to the legislation of any state and are not liable to proposal or sale in the United States or citizens of the United States without registration in compliance with the Act of USA on Securities and applicable to securities legislative articles of certain states or existence of exclusion from requirements on such registration. This press-release contains hypothetical estimates and may include, but not limited, the information on the company's production activities. These hypothetical estimates reflect our current vision of future events and bear certain risks, uncertainties, specified in the section "Factors of Risks and Uncertainties" in our prospectus (available at www.sedar.com). If one of those risks materializes or mentioned assumptions turn out to be incorrect, actual results may significantly differ from assumed, expected or estimated. For additional information, please contact: Sabin Rossi Vise-President Investor relations Tethys Petroleum Limited TD Canada Trust Tower 161 Bay Street, 27 этаж Toronto N5J 2S1 Canada Office: 1 416 572 2065 Fax: 1 416 572 2201 Mobile: 1 617 669 1841 e.mail: info@tethys.gg website: www.tethyspetroleum.com In Kazakhstan Ardak Akanov managing Director PG Communications Almaty, Samal - 2 Business Center Satty Office phone/fax: +7 (727) 272 88 67, 272 82 37 Email: development@pressclub.kz Quotation end [2008-07-01]