/KASE, October 7, 2020/ – Tethys Petroleum Limited (Cayman Islands), whose shares
are officially listed on Kazakhstan Stock Exchange (KASE), has provided press
release to KASE dated October 7, 2020, which states as follows:
quote
Grand Cayman, Cayman Islands - Tethys Petroleum Limited (TSXV: TPL) ("Tethys" or
the "Company") today provides a corporate update.
The recently drilled gas wells at Akkulka, AKK-100 and AKK-101 have successfully
produced gas a rate of approximately 60,000 cubic meters per day. They have already
been tied into pipelines and are producing.
The most recent testing on the KBD-02 has continued to produce approximately
3,000 barrels per day using a 12 mm choke. In total, the well has produced over
200,000 barrels to date.
Tethys has received a further updated resource report from Gustavson Associates
based upon the latest data from the production testing on the KBD-02 (Klymene)
well. This updated resource report from Gustavson Associates was prepared in
compliance with NI51-101, Standards of Disclosure for Oil and Gas Activities and
the COGE Handbook. The Low Estimate of Contingent Resources from the Lower Aptian
zone is approximately 11.7 million barrels, the Best Estimate of Contingent
Resources is 50 million barrels, and the High Estimate of Contingent Resources is
262.7 million barrels. These volumes are classified as Contingent Resources and
not reserves at this time pending completion of a development plan and evaluation
of development economics. The initial estimates are subject to change upon
additional review.
unquote
- Full version of the press release is posted on the KASE website:
https://kase.kz/files/emitters/KY_TPL_/ky_tpl__reliz_071020_1.pdf – in Russian;
-
https://kase.kz/files/emitters/KY_TPL_/ky_tpl__reliz_071020_e.pdf – in English.
[2020-10-07]