BOZOI, KAZAKHSTAN — (Marketwire) — 09/26/11 — Tethys Petroleum Limited (“Tethys” or the “Company”) (TSX: TPL)(LSE: TPL) today gave an update on the initial results of the AKD06 Doris appraisal well in Kazakhstan.
Drilling data and wireline logs indicate oil in both the Cretaceous sandstone and Jurassic limestone reservoirs. The Cretaceous sandstone has been encountered above prognosis and at a higher elevation than in the AKD01 Doris discovery well and is of good quality with similar net pay thickness to AKD01, which flowed over 5,400 barrels of oil per day from this unit. The Jurassic limestone has also been encountered above prognosis and slightly higher than in the AKD01 well and has similar character to the recently drilled AKD05 well which flowed over 1,500 barrels of oil per day from this zone. Further analysis of these initial data is currently underway.
Production liner has now been run and cemented and this will be followed by the gathering of additional geophysical data to tie this well into the new 3D seismic dataset. The well will then be tied into the test production facility and two production tests are planned on the reservoir units. Testing will commence as soon as is practical, expected to be within the next month.
Tethys is focused on oil and gas exploration and production activities in Central Asia with activities currently in the Republics of Tajikistan, Kazakhstan and Uzbekistan. This highly prolific oil and gas area is rapidly developing and Tethys believes that significant potential exists in both exploration and in discovered deposits.
This press release contains “forward-looking information” which may include, but is not limited to, statements with respect to our operations. Such forward looking statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions. See our Annual Information Form for the year ended December 31, 2010 for a description of risks and uncertainties relevant to our business, including our exploration and development activities. The presence of potential hydrocarbon-bearing zones does not mean that commercial hydrocarbons will be obtained.
Contacts:
Tethys Petroleum Limited
Sabin Rossi
Vice President Investor Relations
Office: +1 416 572 2065
+1 416 572 2201 (FAX)
In Europe: Tethys Petroleum Limited
Veronica Zhuvaghena
Vice President Corporate Communications
Office: +44 1481 725911
+44 1481 725922 (FAX)
Web:
Mobile site: m.tethyspetroleum.com
In Asia-Pacific: Quam IR
Anita Wan
Associate Director
+852 2217 2999
+852 2217 2999 (FAX)