Tethys Petroleum Limited informs of ongoing drilling operations

14.07.21 11:39
/KASE, July 14, 2021/ – Tethys Petroleum Limited (Cayman Islands), whose shares are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with a press release dated July 13, 2021, which states the following: Tethys Petroleum Press Release (TSXV: TPL) Drilling Update Grand Cayman, Cayman Islands - Tethys Petroleum Limited (TSXV: TPL) ("Tethys" or the "Company") today provides an update on current drilling activities. Tethys has completed drilling of the KBD-03 well and is moving storage tanks to the field to enable the production test. The initial log and core results are encouraging as oil shows were found in the three prospective zones. While the log and core results are encouraging, the production test will be needed to provide confirmation on the productive capacity of each of the zones. It is anticipated that the storage tanks and facilities will be in place and production tests will start by the middle of August. If successful, it is anticipated that this well will be first tested from the Jurassic zone. The rig that used on KBD-03 will be demobilized and set up to drill KBD-07. This well is approximately 700 meters to the southeast of KBD-02 and about 1,000 meters to the west of KBD-03. As of July 12, 2021 the KBD-06 well has been drilled to a depth of approximately 2,500 meters. This well should also be tested by the middle of August. The well also has encouraging log and core results. Upon completion, this rig will be moved to drill KBD-08. This well site is approximately 2,000 meters to the southeast of KBD-02. The full version of the press release is posted on KASE website - https://kase.kz/files/emitters/KY_TPL_/ky_tpl__reliz_140721_eng_1.pdf [2021-07-14]