OREANDA-NEWS. August 10, 2009. Tethys Petroleum Limited, common shares of which are listed on the special trading floor of the Regional Financial Center of Almaty, provided Kazakhstan Stock Exchange (KASE) with a press release, reported the press-centre of KASE:

Tethys Petroleum Limited ("Tethys" or "the Company") (TSX: TPL) today provided updated information on operations the company runs in Kazakhstan, Tajikistan and Uzbekistan. Tethys is an independent company, engaged in exploration and mining of oil and gas in the Central Asia.

Highlights:

- Currently in Kazakhstan Tethys has renewed drilling of deep prospecting hole AKD01. The drilling depth is 2250 m, the project depth is 3400-4500 m, depending on the results. An independent report on calculation of deposits, prepared in 2007 by McDaniel and Associates Company, says that deep structures of contracted territories of Tethys in Kazakhstan contain up to 690 m barrels of oil equivalent of non-risk potential deposits.

- Also in Kazakhstan the Company in full renewed mining of gas at Kzyloy deposit. Currently the company mines 513 th sq.m./per day, with plans to gradually increase daily output up to 566 th sq.m./per day. Gas production from deposit Central Akkulka (the second stage) was tested and connected to the gas pipeline. All pumps have been completely assembled and the whole system has been approved by the state commissioning team. It is expected, production will start after conclusion of a contract for mining with the Ministry of Energy and Mineral Resources of the Republic of Kazakhstan, terms of which have been agreed with. The contract is to be signed in  September this year.

- The company is planning in Tajikistan to start drilling hole Komsomolsk 200 ("KOM200"). The hole will be drilled to explore deposits and contingent gas resources in the eastern part of the Komsomolsk gas deposit near the northern part of Dushanbe. Tethys thinks undeveloped gas is located in the eastern part of the deposit. This is the first new hole, which Tethys is drilling in Tajikistan after signing an agreement on Bokhtar area in June 2008.

- Additional drilling is conducted in prospecting hole Vostochniy Olimtoy (EOL09), located on domed salt of prospective deposit towards South-East of Kulyab in South Tajikistan a bit to the North of Paynj river. Currently the depth of the hole is 2,604 m, it is expected to reach 2,900 m. The drilling is directed аt Paleogene deposits, with productive potential to the North at oil field Beshtentak, and gas condensate field Hodzha Sartez. Planned projected depth of the hole is 3,800 through 4,500 meters.

- Besides, in Tajikistan the company is running a program of seismic exploration on Bokhtar area according to the Agreement (34,751 sq.km); the company received seismic data for area near Dushanbe, field staff now are collecting data at Kulyab area in eastern part of Bokhtar area.

- In Uzbekistan current volume of production of additional volumes of oil within the Agreement on increase of output at deposit Severniy Urtabulak is 2065 barrels a day, Tethys is producing 1031 barrels a day, after the state acquired its share. These volumes show significant increase of oil output  since Tethys had acquired a share in the project in April 2009.