/KASE, August 21, 2020/ – Tethys Petroleum Limited (Cayman Islands), whose shares
are officially listed on Kazakhstan Stock Exchange (KASE), has provided press
release to KASE dated August 20, 2020, which states as follows:
Grand Cayman, Cayman Islands - Tethys Petroleum Limited (TSXV: TPL) ("Tethys" or
the "Company") today provides a corporate update. Operations update Tethys has
continued the production testing of the second zone of KBD-02 (Klymene). Over the
last 20 days the second zone has produced approximately 2,000 barrels of oil per
day using different choke sizes. The most recent testing has used an 11 mm choke
and produced approximately 2,800 barrels of oil per day over the last 7 days. The
pressure has remained strong through 4 different choke sizes used during the
testing. The well has produced over 77,000 barrels of oil in total. In July, oil
was sold in range of approximately $14-$17 per barrel.
The Company is also in the process of pursing financing options in order to
address debts coming due and to help accelerate expansion plans.
Full version of the press release (in Russian) is posted on the KASE website: