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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 appoints Hammond to board

18th Jan 2012, 7:16 am by Giles Gwinnett Tethys' chairman David Robson said today Hammond had contributed greatly to the development of the firm's business.

Oil and gas firm Tethys Petroleum (TSE:TPL) said it has appointed Julian Hammond to the board.

Hammond has been at the company since 2006 and has served as chief commercial officer and deputy chief executive officer - roles he will retain while being a board member.

Tethys' chairman David Robson said today Hammond had contributed greatly to the development of the firm's business.

"This is an exciting year for Tethys and I am sure that Julian will use his new responsibilities and authority to further progress the activities of the company in its projects in Central Asia."

Hammond has also been appointed as a member of the executive board of Tethys.

Listed on the Toronto and Kazakhstan stock exchanges, the company has projects in Kazakhstan, Tajikistan and Uzbekistan.

In December 2011 it 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.

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