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Tethys Petroleum reports Kazakhstan gas well testing program results

BOZOI, Kazakhstan -- Tethys Petroleum Limited (Tethys) reported the test results from AKK17, AKK18, AKK19 and AKK20, the first four shallow gas exploration wells of its 2014 program.

The AKK17, AKK18, AKK19 and AKK20 wells tested at an aggregate rate of approximately 650 Mcm/d (23 MMcf/d) from the Tasaran horizon.

It is planned that these wells will be incorporated under the Akkulka Production Contract by Q1 2015 whereupon they will be tied-in to the existing gas production infrastructure and placed on permanent production. Additionally, the four previously drilled and tested wells, AKK05, AKK14, AKK15 and AKK16 will also be brought on stream in Q1 2015 to target an initial total production rate of 800 - 1,000 Mcm/d (28 MMcf/d - 35 MMcf/d).

Additional wells are planned to be drilled in the proximity of the new discoveries as well as the existing wells, such as AKK15 and AKK16, next year and subsequent pipelines will be laid and tied into the optimised infrastructure in order to maintain production levels.

In support of this shallow gas program, work has already commenced on the gas dehydration project and on the pipelines required to tie-in these additional wells to the existing gas production infrastructure. Both projects are on schedule for completion by year-end.

Graham Wall, COO of Tethys commented, "We are very pleased with the continued success of the Kazakh shallow gas program. These latest results (some of which were tubing constrained) keep us on track to achieve a near three fold increase in gas production by the beginning of 2015."



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