/KASE, August 19, 2021/ – Tethys Petroleum Limited (Cayman Islands), whose
shares are officially listed on Kazakhstan Stock Exchange (KASE), has provided
KASE with the following press release dated August 18, 2021:
Tethys Petroleum Limited (“Tethys” or the “Company”) today announced that it
has filed its Interim Results for the three months ended June 30, 2021. The full
Interim Results together with Management's Discussion and Analysis have been
filed with the Canadian securities regulatory authorities. Copies of the filed
documents may be obtained via SEDAR at www.sedar.com or on Tethys'
website at www.tethys-group.com.
Operations update
Tethys has completed drilling KBD-03 and KBD-06. The testing and production
from KBD03 is expected to commence later this month, and the testing of KBD-
06 is expected to commence once the pilot production license is granted. The
drilling rig from KBD-06 is moving to KBD-08. This is about 2 km southeast of
KBD-02. The drilling rig from KBD-03 is moving to KBD-07 which is about 670
meters southeast of KBD-02. KBD-02, KBD-06 and KBD-07 are within the
applied area for the pilot production license. While these wells can’t be
operated until the license is approved, they will not be subject to the 90 day
per zone limitation on those wells outside this area. KBD-03 and KBD-08 will
likely fall outside the pilot production area which would require a new
approval to produce after the testing period.
The Company has entered into a prepaid oil sale agreement to sell 38,000 tons
of oil for a minimum price of 65,668 KZT per ton. Upon closing and funding, this
will provide Tethys with approximately $5.9 million USD.
The full version of the press release is posted on KASE website at
https://kase.kz/files/emitters/KY_TPL_/ky_tpl__reliz_180821_eng_2.pdf.
[2021-08-19]