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02.02.2012 10:35 #Corporate events

Tethys Petroleum Limited (United Kingdom) launches Aral oil terminal

/KASE, February 2, 12/ - Tethys Petroleum Limited (Channel Islands), whose common shares are officially listed at Kazakhstan Stock Exchange (KASE), has provided KASE with the following press-release of January 30, 2012:

quote

Tethys Petroleum Limited ("Tethys" or the "Company") (TSX: TPL)(LSE: TPL) today announced the official inauguration of its Aral Oil Terminal ("AOT") - a new oil storage and rail loading facility for oil shipments from the Company's Doris oilfield into the Kazakh rail system.

The AOT is located approximately 230 km from the Doris oil field, significantly reducing the distance oil is currently trucked by road from the field. The opening of AOT will allow the Company to initially double production to approximately 4,000 barrels of oil per day ("bopd") due to a halving of the road trucking distance. Furthermore, the current rail loading point at Emba experiences bottlenecks due to overuse by many different companies; the AOT will be dedicated to Tethys oil sales. The opening of the AOT will thus reduce transportation costs significantly and will result in an increased realised oil price. The recent acquisition of additional road trucks means that 240 are now in daily operation.

unquote

The full oppress-release is available on KASE website, at see more

[2012-02-02]