Tethys Petroleum Limited is an oil and gas exploration and production company currently focused on Central Asia with projects in Kazakhstan, Tajikistan and Uzbekistan.  It is the only independent oil and gas company operating in all three Republics.

Tethys Petroleum is a public company with its primary listing on the main board of the Toronto Stock Exchange ("TSX") - the world's largest exchange for oil and gas companies - and with a secondary listing on the Kazakhstan Stock Exchange ("KASE") in Almaty.

Key highlights:

    * Oil exploration discovery in Kazakhstan tested at 6,800 barrels of oil per day
    * Active appraisal program in 2010 to evaluate oilfield size
    * Further exciting exploration prospects near to oil discovery
    * Existing gas production in Kazakhstan
    * 35,000 sq. km of high potential exploration acreage in Tajikistan in world class basin
    * Oil production in Uzbekistan
    * Opportunities to acquire additional projects

Tethys Petroleum is the only independent Oil and Gas Company with operations in three of the Central Asian Republics and with production in Kazakhstan, Tajikistan and Uzbekistan.

KAZAKHSTAN ASSETS
In Kazakhstan, Tethys Petroleum is operating through its wholly owned subsidiaries, TethysAralGas LLP and Kul-Bas LLP, under four contracts in the North Ustyurt basin to the west of the Aral Sea adjacent to the prolific Pre-Caspian basin.  It has a 100% working interest in the Kyzyloi Production Contract (287 sq. km), Akkulka Exploration Contract (1,380 sq. km), Akkulka Production Contract (110 sq. km) and the Kul-Bas Exploration and Production Contract (8,890 sq. km).

This highly prolific oil and gas area is rapidly developing and the Company believes significant potential exists in both exploration and in discovered deposits. The Company is currently developing two shallow gas fields, namely Kyzyloi and Akkulka, and has plans to further expand this gas development.  Its recent exploration oil discovery lies at deeper levels in the same area and the Company believes that this discovery (currently named "Doris") has substantial potential.  Appraisal of Doris and further oil exploration activities are planned for 2010.

TAJIKISTAN ASSETS
In Tajikistan, Tethys Petroleum was one of the first oil and gas companies to work in the Republic.  Tethys also negotiated the first Production Sharing Contract ("PSC") for the large Bokhtar area in the southwest region of the country.  This PSC has a term until June 2033, and covers an area of some 34,785 sq. km including almost the entire Tajik portion of the Afghan-Tajik basin, part of the prolific Amu Darya basin. This is an underexplored basin with what the Company believes to be very large upside potential, especially in the deeper horizons with possible analogues to the supergiant gas and gas condensate fields in nearby Turkmenistan and Uzbekistan.

The Company, working through its 51% owned subsidiaries, Tethys Services Tajikistan and Kulob Petroleum Limited, is currently involved in an extensive programme of oil and gas field re-development, exploration drilling, and seismic acquisition.

UZBEKISTAN ASSETS
Tethys Petroleum's current activities in Uzbekistan relate to increasing oil production from the North Urtabulak oilfield.  Here the Company operates under a Production Enhancement Contract ("PEC") with NHC Uzbekneftegaz, the State oil and gas company and is involved in working to increase oil production. The North Urtubulak field is located in the Kashkadarya region of Uzbekistan south east of the city of Bukhara and within the prolific Amu Darya basin. Tethys Petroleum is planning to further expand production under the PEC through the drilling of new wells and the application of modern production enhancement techniques.

Tethys Petroleum's Uzbek subsidiary, Tethys Petroleum Uzbekistan B.V., has established a representation in Tashkent, the Uzbek capital city and is actively seeking additional projects in Uzbekistan on other producing fields and also projects with exploration potential.

Board of Directors:

Tethys Petroleum benefits from an experienced and diverse board led by Dr David Robson as Chairman who has over 20 years of experience in the region. The Board has considerable local and international experience across oil and gas exploration and production, banking and finance, and industry.

President and Chief Executive Officer - Dr David Robson
Chief Financial Officer - Bernard Murphy 
Executive Director and Corporate Secretary- Liz Landles
Vice Chairman and Non-Executive Director - Rt. Hon. Peter Lilley MP
Non-Executive Director - Russ Hammond
Non-Executive Director - Piers Johnson
Non-Executive Director - James Rawls
Non-Executive Director - Marcus Rhodes

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