Tethys Petroleum completes drilling of fourth well Kazakh gas campaign

6/2/2014

Tethys Petroleum completes drilling of fourth well Kazakh gas campaign

BOZOI, Kazakhstan -- Tethys Petroleum Ltd. (TPL) has reported the completion of drilling and logging of the AKK20 exploration well, the fourth well in its 2014 shallow gas drilling program in Kazakhstan.

The well was drilled to a depth of 681 m (2,234 ft) with hydrocarbon shows and electric logs indicating the presence of hydrocarbons within the target Tasaran sand, although testing will be required on this well to confirm commerciality. The well is located some 4.4 kms (2.76 mi) north of the AKK15 well which encountered a gas-bearing interval within the Tasaran which tested gas at a stable rate of approximately 195,000 m3 (7 Mcf or 1,167 boe) per day.

Production casing is now being run and the well will be prepared for flow testing as part of a comprehensive testing program, along with AKK17, AKK18 and AKK19, to commence later this month. The results of this program will then be submitted to the State Committee for Reserves in order for the wells to be incorporated into the existing Akkulka Production Contract.

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