Canadian Tethys received considerable inflow of gas in Kazakhstan

/REUTERS, Almaty, Maria Gordeeva, July 18, 08/ - Canadian company Tethys Petroleum Limited, which worked in Kazakhstan received large inflow of gas on an Akkulkovskaya area, the company reported on Monday. "As a result of testing exploration wells in ACC 15 on Akkulkovskaya Square, located in Kazakhstan saw the release of gas with good indicators in the interval of Tasaran productive reservoir - reported in the company. As a result of technical analysis, conducted by the company, potential volume of gas production may reach 480.000 cubic meters a day. In Kazakhstan, the company is developing three contract areas in Aktyubinsk oblast: the main deposit Kyzyloy, area Akkulkovskaya and Kul-Bas. Earlier vice-president on technical problems of Tethys Petroleum Limited Grem Wall informed Reuters that the company intends to invest $15 m. in developing contract areas in the country. "In case, we got considerable inflow of gas as a result of well drilling on Akkulke, investment volume may grow by many times" - Grem said. According to the company, well ACC 15 is near gas developing area on Central Akkulka, which today Tethys introduce to infrastructure of gas main line Kyzyloy within the frame of second phase of gas deposit developing. "New well can be easily included to production process, owing to it, commercial gas deliveries can be started at the end of this year" was added in the company. As of December 31, 2007 admitted reserves of gas on contract areas make 1.22 bn. cubic meters, possible - 2.54 bn. cubic meters of gas. Tethys` shares are traded in the main list of Toronto Stock Exchange in Canada. At the end of September 2007 Tethys Petroleum conducted IPO, having increased assets to $37.16 m. [2008-08-18]