Tethys Petroleum Limited provides update on ongoing drilling and licensing activities

13.09.21 16:00
/KASE, September 13, 2021/ – Tethys Petroleum Limited (Cayman Islands, shares, KASE official list), has provided KASE with the following press release dated September 10, 2021: Grand Cayman, Cayman Islands - Tethys Petroleum Limited (TSXV: TPL) ("Tethys" or the "Company") today provides an update on current drilling and licensing activities. The exploratory well KBD-03 has been perforated and has generated commercial inflow in the Jurassic zone. The initial production as of (5 Sep 2021) shows a daily rate of approximately 44 tons (approximately 300 bopd) using a 9mm choke. Management believes production may be enhanced through the use of acid to help stimulate the well and will consider this application to increase the amount of oil production. The AKK-28 shallow gas well has commenced testing and has been producing at a rate of 35,000 cubic meters per day using an 8 mm choke. Similar to AKD-12, this well is part of license #265. Permission to produce under this license is under application with an expectation of an announcement in late Q1 or early Q2 of 2022. A decision has not yet been made whether it will be necessary to build a new gas pipeline to this area or whether to use existing facilities (with the tradeoff risk being that this pressure could displace some existing production from other wells) - https://kase.kz/files/emitters/KY_TPL_/ky_tpl__reliz_130921_eng_1.pdf. [2021-09-13]