/KASE, July 15, 2020/ – Tethys Petroleum Limited (Cayman Islands), whose
shares are officially listed on Kazakhstan Stock Exchange (KASE), has provided
KASE with the following press release of July 15, 2020:
quote
Grand Cayman, Cayman Islands - Tethys Petroleum Limited (TSXV: TPL)
("Tethys" or the "Company") today provides a corporate update.
Testing of Klymene Exploration Well (KBD-02)
The test period for the first zone (Jurassic) has been completed and the testing
for the second potential zone has been initiated. The test was done using
different choke sizes between 5mm and as high as 11mm. The 11mm choke increased
production to over 700 bopd from the previously announced 400 bopd (using the
9mm choke).
Management is pleased to announce that the KBD-02 well second zone has been
tested at depths of 2127.4 to 2145.4 meters. The test produced at an average
production rate of 15.5 tons per hour or 372 tons per day (approximately 2,700
barrels per day) using an 11 mm choke. Using a 9 mm choke the average
production rate was 276 tons per day. Over the next 10-12 days geophysical
loggings including works with different chokes and pressure tests will be done.
The current storage and distribution capacity on the site is limited and this
may affect the Company’s ability to run tests with larger choke sizes. The oil
quality is high, the pressure very good and at present there is no water
present.
unquote
The full press release is available on KASE website:
-
https://kase.kz/files/emitters/KY_TPL_/ky_tpl__reliz_150720.pdf – in Russian;
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https://kase.kz/files/emitters/KY_TPL_/ky_tpl__reliz_150720_eng.pdf – in English.
[2020-07-15]