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19/04/2012

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

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Additional Information
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_)

Full Tethys Petroleum profile here
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Tethys' Doris appraisal well produces oil at over 4,300 bopd, shares rise over 10%

16th Nov 2011, 7:55 pm by Brad Lemaire

Tethys Petroleum (TSE:TPL) said Tuesday its AKD06 Doris appraisal well in Kazakhstan had a tested oil flow rate of over 4,300 barrels of oil per day (bopd) from the Cretaceous sand interval.

Shares of Tethys' common stock hiked over 16 percent following the news, to $0.79 as of 9:40 am EDT.

The five-metre interval in the Cretaceous sand flowed at a rate of 4,304 bopd on a 26 millimetre choke. Head pressure was 186 psi, and the oil was light with a gravity of about 45 degrees API.

Flow was restricted for safety reason, Tethys said, though data indicates absolute open flow potential is in excess of 6,000 bopd.

Tethys Petroleum Chief Operating officer, Graham Wall said: "This is a very successful appraisal of the Doris discovery and once again shows the good flow potential of the Cretaceous sandstone reservoir.

"This is an excellent result and bodes well for the further development of Doris."

Late last month, Tethys also announced positive flow results from the Jurassic limestone reservoir of the same AKD06 well.

The Jurassic limestone was tested above prognosis and slightly higher compared to the AKD01 well, Tethys' first deep exploration well on the Akkulka block, which flowed over 1,500 barrels of oil per day from this zone.

The company said it has now tied the well into the test production facility, where it plans to conduct further testing in relation to long-term test production.

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

Tethys' stock has gained over 15 percent in the last three months alone. As of 11:24 am EDT, share prices were up 8.82 percent to $0.74.

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