Tethys Petroleum Limited provides corporate update

21.08.20 11:28
/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: quote 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. unquote Full version of the press release (in Russian) is posted on the KASE website: https://kase.kz/files/emitters/KY_TPL_/ky_tpl__reliz_200820_1.pdf [2020-08-21]