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Additional Information

Market:	TSX
Sector:	Oil and Gas Exploration and Production
EPIC:	TPL
Latest Price:	0.70 (4.48% )
52-week High:	1.69
52-week Low:	0.44
Market Cap:	182.44M

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Tethys Petroleum Full Tethys Petroleum profile here

Tethys Petroleum Limited's strategy is to create shareholder value by building an oil and gas exploration and production company focused on Central Asia in areas with substantial oil and gas potential, building on the strengths of its management team and with a mix of short-term cash flow and upside potential. Currently Tethys has projects in Kazakhstan, Tajikistan and most recently Uzbekistan. Tethys is listed on the Toronto Stock Exchange in Canada and on the Kazakhstan Stock Exchange (KASE: GG_TPL_)

Tethys Petroleum up 3.5% on Kazakhstan operations update

Friday, September 03, 2010

Oil and gas exploration and development company Tethys Petroleum (TSE:TPL) has today announced an update on its oil exploration operations in Kazakhstan, which indicates a potential oil bearing zone in good quality Cretaceous sandstones at its AKD03 well, these being similar to the reservoir that flowed over 5,400 barrels of oil per day in the AKD01 Doris discovery well located some 10 km to the north-east, it said.

The AKD03 (Dione) exploration well is currently at a depth of 2,823 metres (in what is interpreted to be the middle Jurassic sequence) and casing has been run.

Hydrocarbons have been indicated from drilling, and log data in three zones as well as a testing program is planned for the near future.

Testing of this well is planned to assess the potential for the production of commercial hydrocarbons, and the possible extent of the reservoirs.

Once this testing program has been carried out, the well will be drilled deeper into the Triassic sequence with a planned total depth of some 4,000 metres, the company said.

The G6RE (Dodone) well has now been drilled to a depth of 2,835 metres in order to test a deeper potential oil bearing zone identified from the wireline logs in the original G6 hole.

The hole is currently being prepared to run casing, but differential sticking in the bottom section probably caused by higher formation pressures and permeable zones, has slowed the process, Tethys said. Once casing has been run, preparations for testing will then begin.

On the AKD02 (Doris NW) well, further testing of the Jurassic carbonate interval awaits the start of the testing program on the G6RE well, with both wells being tested as part of an integrated program to maximise efficiency.

Tethys is focused on oil and gas exploration and production activities in Central Asia with activities currently in the Republics of Kazakhstan, Tajikistan and Uzbekistan.

The company was up 3.5% on the news to $1.78 as of 1:05pm ET on Thursday on the Toronto Stock Exchange.

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