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19/04/2012

Tethys Petroleum CEO looks towards a “substantial increase” in profitability

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Market: TSX AIM
Sector: Energy
EPIC: TPL
Latest Price: 37.75p  (2.03% Ascending)
52-week High: 75.00p
52-week Low: 26.75p
Market Cap: 108.23M
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Tethys Petroleum
www.tethyspetroleum.com

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_)

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Tethys Petroleum uncovers probable hydrocarbons in interval of East Olimtoi well

9th Jun 2011, 8:39 pm by Deborah Sterescu

Central Asia-focused Tethys Petroleum (TSE:TPL) said Thursday that data has confirmed the probable presence of moveable hydrocarbons, which occur in crude oil, in its East Olimtoi EOL09 exploration well in southern Tajikstan.

The company said that electric logs run over the Alai, the secondary target, has shown the probable presence of these hydrocarbons in the interval from 3,341 to 3,500 metres.

Independent analysis has indicated up to 32 metres of net hydrocarbon-bearing pay in the section, with porosities of up to 17%, Tethys added.

In addition, no oil‐water contact is interpreted in this section of the well. The potential closure covers an area of over 10 square kilometres  in the East Olimtoi prospect alone.

The Alai interval has previously produced live oil and gas to surface while drilling, and showed high formation pressures.

Currently, the well is drilling ahead at a depth of 3,544 metres in the Suzak shale. Production testing is planned for all zones of interest after the drilling has been completed, anticipated in roughly three to four weeks.

Tethys said that mapping shows three additional structures that could be drilled following completion of the EOL09 well.

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