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_)
Tethys Petroleum's oil trucking halted due to extreme weather conditions
Tethys Petroleum (TSE:TPL) said this morning that its oil trucking operations have been halted by “extremely adverse winter weather conditions”.
Snow drifts along the northern section of the route from Shalkar to Emba are to blame for the temporary shutdown.
Oil production this month has averaged 1,860 barrels a day.
“It is expected trucking to Emba will resume once weather conditions improve, which is forecast to be soon,” the company said in a statement to investors.
The southern route, which links the Doris field production facilities to a soon-to-be-completed rail loading facility, remains open.
When up and running in around a month’s time, the new terminal will allow the group to more than double production to around 4,000 barrels a day.
Listed on the Toronto and Kazakhstan stock exchanges, Tethys has projects in Kazakhstan, Tajikistan and Uzbekistan.
Earlier this month the company unveiled initial results of its Persea 1 exploration well in
Tajikstan, and said its plans to carry out production testing on the well in the New Year.
The Persea 1 well, drilled some five kilometres from the town of Kurgan Teppa, reached a total depth of 2,655 metres.
Wireline logs showed a 50 metre gross zone of possible hydrocarbons, which occur in crude oil, within a mixed sandstone and carbonate sequence assigned to the Alai formation. This is a similar to the formation about to be tested in the East Olimtoi well.
