Tethys Petroleum Limited (United Kingdom) informed oil reserves approved on Akkulka deposit in Kazakhstan
26.10.10 16:57
/KASE, October 26, 10/ - Tethys Petroleum Limited (Channel Islands) with the
common shares placed in the official list of Kazakhstan Stock Exchange),
provided to KASE the following press-release of October 25, 2010:
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Tethys Petroleum Limited ("Tethys" or the "Company") (TSX: TPL) announced
today it had received Kazakh State approved oil reserves for its Doris (AKD01)
oil discovery in Kazakhstan.
Tethys' wholly owned subsidiary TethysAralGas LLP ("TAG") has received
approved oil reserves (in C1 and C2 categories) from the Kazakh State Reserve
Committee (part of the State Committee for Geology) for the AKD01 (Doris) oil
discovery. This is an important step forward with respect to the approval of
TAG's pilot production project for Doris which is currently under consideration
by the Ministry of Oil and Gas with TAG expecting approval of this project
by year end.
Tethys also gave a brief update on current operations activities in Kazakhstan.
On the G6RE (Dodone) well preparations are underway for the testing and
acidisation (by Schlumberger) of the Upper Jurassic carbonate interval which
would be carried out in conjunction with acidisation of the same interval in the
AKD02 (Doris NW) well. Testing operations should commence within the next
week to ten days with initial results being available in November.
The AKD03 (Dione) exploration well is currently drilling ahead at a depth of
3,304 metres (in what is interpreted to be the lower Jurassic sequence).
A further interval with hydrocarbon shows has been encountered whilst drilling
through the middle Jurassic sequence at approximately 3,000 metres. This well
is planned to penetrate the Triassic sequence and reach total depth of some
4,300 metres in the Permo-Carboniferous. It is currently anticipated that total
depth should be reached in mid-November.
Acquisition of the initially planned 290.3 km(2)of 3D seismic has now been
completed and the survey has now been extended westwards to include the area
around the Dodone prospect. Processing of the data is now underway.
Contacts:
Tethys Petroleum Limited
Sabin Rossi
Vice President Investor Relations
Office: +1 416 572 2065, +1 416 572 2065
+1 416 572 2201, +1 416 572 2201 (FAX)
info@tethyspetroleum.com
www.tethyspetroleum.com
In Kazakhstan
PG Communications
Ardak Akanov, Managing Director
Office phone/fax: +7 (727) 272 8867
+7 (727) 272 8237, +7 (727) 272 7745
development@pressclub.kz
In Asia-Pacific
Quam IR
Anita Wan, Associate Director
Office phone/fax: + (852) 2217-2999
anita.wan@quamgroup.com
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[2010-10-26]