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Market: TSX
Sector: Oil & Gas Exploration & Production
Epic: TPL
News: Latest news
Web Site: Tethys Petroleum
Other Articles: 08-02-201012-01-201011-01-2010

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Tethys Petroleum

Tethys Petroleum

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 the RFCA Exchange in Almaty, Kazakhstan.

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Monday, September 07, 2009

Tethys Petroleum hits oil and gas condensate in Kazakhstan, production testing planned

by Sergei Balashov company news image

Oil and gas exploration company Tethys Petroleum Limited (TSX: TPL) released a drilling update on its operations in Central Asia, reporting two hydrocarbon intervals in its Akkulka Block in Kazakhstan, with production testing planned for after the well reaches its planned depth.


The company said Independent analysis confirmed moveable hydrocarbons in at least two zones in which may be oil and gas condensate in the Lower Cretaceous and Jurassic interval in the AKD01 exploration well in the Akkulka Block Kazakhstan, which now was at a depth of 3.4 kilometres.

Production testing is planned for the two intervals once the well reaches its total planned depth.


Oil and gas shows have also been evident in the Triassic sequence, also targeted by AKD01, but significant reservoir intervals are yet to be encountered. Work is currently underway to evaluate the potential for deeper Triassic reservoirs to determine the depth for the well.


Tethys’ operations on the East-Komsomolsk well KOM200 and the East Olimtoi well EOL09 in Tajikistan are both underway. A significant gas influx was encountered while drilling the KOM200 well, thought to be coming from a fracture tapping into a potentially deeper reservoir. The well has been successfully killed and preparations are currently made to drill ahead, the company said in the statement.


The EOL09 well is currently at 2.8 kilometres.


According to a resource report carried out in 2007 by McDaniel and Associates, the Tethys licenses in Kazakhstan potentially contain a total resource of up to 690 million barrels of oil equivalent.

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