/KASE, June 2, 11/ - 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 May 31, 2011:
quotation
Tethys Petroleum Limited ("Tethys" or the "Company") (TSX: TPL) today
announced that the AKD03 (Dione) exploration well has tested oil from
the Cretaceous interval, the uppermost pay zone in the well.
This interval, a sandstone of Middle Cretaceous (Albian) age at 1,630 metres
(5,346 feet), tested 40 degrees API oil (slightly heavier than the oil in the
Doris discovery) from a 6 metre (20 feet) normally pressured sand with a log
porosity of some 22%. However the previous injection of drilling fluids
and related chemicals to safely stabilise the well for drilling deeper has
resulted insignificant formation damage which has resulted in minor flow to
date on the initial test from the damaged formation. The Company is looking
to source additional equipment that would involve by passing this formation
damage and achieving production from the unaffected part of the reservoir.
Currently such equipment is not available and as such operations have been
suspended until the required equipment is sourced and delivered, this is
likely to be in August 2011.
ends
The press release full version is available on KASE website at
http://www.kase.kz/files/emitters/GG_TPL_/gg_tpl_reliz_310511.pdf
[2011-06-02]