Tethys Petroleum Limited (United Kingdom) announced annual results for 2011
April 4. KASE
Tethys Petroleum Limited (TSX: TPL)(LSE: TPL) today announced its Annual Results for the period ended December 31, 2011. Tethys is focused on oil and gas exploration and production activities in Central Asia with activities currently in the Republics of Kazakhstan, Tajikistan, 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.
– Successfully tested the Doris AKD05 and AKD06 appraisal wells with a combined flow rate of over 6,000 barrels of oil per day.
– 2P Reserves increased by 45% to 25.3 million barrels of oil equivalent.
– AKD03 (Dione) exploration well flowed commercial oil from a new reservoir.
– KBD01 (Kalypso) exploration well drilled and logged with indications on the logs that moveable hydrocarbons are present. To be tested later this year.
– Aral Oil Terminal land acquired and construction commenced (now complete and about to commence operations)
– Deep sub-salt exploration programme advanced with completion of Graviometry Survey.
– EOL09 (East Olimtoi) exploration well discovers oil, believed to be the first oil discovery in Tajikistan since independence – testing programme about to recommence.
– Persea exploration well (the last commitment well under the Bokhtar PSC) completed with potential logged hydrocarbons – to be tested after EOL09 well.
– Successful rehabilitation work on Beshtentak oilfield.
– Negotiations commenced on acquiring a new producing oil field.
– MOU signed to carry out exploration studies on a large acreage position in the North Ustyurt Basin – the same basin which contains the Doris oil discovery.