/KASE, November 29, 2019/ – Tethys Petroleum Limited (Cayman Islands),
whose shares are officially listed on Kazakhstan Stock Exchange (KASE), has
provided KASE with the following press release dated November 28, 2019:
Grand Cayman, Cayman Islands - Tethys Petroleum Limited ("Tethys" or the
"Company") today provides a corporate update.
DSFK and Gas Production
As previously announced, the Company's subsidiary, Tethys Aral Gas LLP
("TAG"), received notification from its gas customer in August of this year that
it intended to reduce its gas purchases from TAG. This was in response to a
letter received from Special Financial Company DSFK LLP ("DSFK") that it
intended to dismantle and dispose of TAG's gas transportation assets which
are pledged to DSFK.
Tethys explained to its gas customer that there was no legal basis for the DSFK
demand and that it should continue to purchase the gas that TAG is able to
produce and deliver in accordance with the parties' gas sales contract.
Nevertheless, following receipt of a second letter from DSFK, TAG’s gas
customer reduced its acceptance of TAG's gas in late September.
The full press release is available on KASE website:
– in Russian;