Tethys Petroleum Investments Limited (Tethys) is an oil & gas exploration & production company focusing on projects in Kazakhstan with plans to evaluate other areas in Central Asia. Through its 70 per cent owned Kazakhstan subsidiary, Tethys currently has interests in the proven gas field Kyzyloi and in the Akkulka and Greater Akkulka exploration areas all in western Kazakhstan. Tethys has mixture of high-potential exploration plays for longer term upside and asset growth, coupled with short-term cash flow projects.
Tethys has excellent relationships in Western Kazakhstan, and is building an operating team both of local and international specialists, and, through its subsidiary, is acting as operator on its current projects in Kazakhstan. Tethys will take available opportunities to acquire acreage and prospects suitable either for exploration and development by Tethys, or for sale or farm-out to larger oil and gas companies at a suitable time. Such projects will include oil and gas field development projects, appraisal projects and exploration for potentially giant fields.
Tethys expects production to commence on the Kyzyloi gas field in 1Q 2007 which will provide immediate cash flow with potential to increase production quickly through the tie-in of several recent successful exploration wells drilled by Tethys. Within the exploration area recent seismic re-interpretation has indicated that there are several large prospective oil and/or condensate targets at deeper levels which provides for exciting upside in an area close to prolific fields producing from the same geological formations.
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