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Market: TSX
Sector: Oil & Gas Exploration & Production
Epic: TPL
News: Latest news
Web Site: Tethys Petroleum
Other Articles: 20-08-201016-08-201003-08-2010

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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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Tuesday, October 27, 2009

Tethys Petroleum commences production testing at Akkulka, picks location for next well in Uzbekistan

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Tethys Petroleum (TSX: TPL) updated investors on its operations in Central Asia, saying it has identified the location for the next development well at the North Urtabulak field in Uzbekistan and commenced production testing at one of the two hydrocarbon bearing intervals in the AKD01 well at Akkulka in Kazakhstan.


Operations in Tajikistan have been focused on stabilising the KOM200well at East Komsomolsk after a significant gas influx was encountered in the upper section of the well, which is now being conditioned for further drilling from the current depth of 1,020 metres. The well is currently in the first reservoir zone, where a further significant gas influx occurred with up to 78% methane being observed at surface. Tethys has said its East Olimtoi (EOL09) exploration well is currently at its next planned casing point at a depth of 2,910 metres.


The company has also announced it has selected the location for the NUR116 development well at the North Urtabulak oilfield in Uzbekistan, which will be drilled within the NW salt zone when the rig, which has already at the field, is erected.


The company’s first deep exploration well at the Akkulka Block, AKD01, has reached a total depth of 3,414 metres in what is interpreted to be the Triassic sequence. The well was plugged in order not to jeopardise the two zones in the Lower Cretaceous/Jurassic interval where independent analysis confirmed the interpretation of moveable hydrocarbons. Production testing of the lower zone has begun and the well has flowed light oil/condensate, yet no accurate flow rate could be calculated as the well is not yet cleaned up.


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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