Tethys Q2 Results and Operations Update(Oil and Gas News)

Tethys has existing proven gas reserves in the Kyzyloi Gas Field, and further potential upside for shallow gas and deeper oil in the surrounding Akkulka Exploration Licence and Contract area, and the much larger Kul-Bas Exploration and Production Contract area. As well as additional gas potential Tethys believes that there is significant potential for oil deposits in the deeper Jurassic and Triassic syn-rift sequences on the flanks of large structural highs (”flank” plays). In addition it is planned to carry out downhole seismic surveys in these wells, integrating these data with the new surface seismic and to obtain more reliable data ahead of their current depths (”look ahead”) and by using an offset seismic source (”walk away”) to obtain better data for potential sidetracking to the “flank” plays. Tethys believes that there is an opportunity for both oil and gas development potential in the “virgin” exploration territory of the Afghan-Tajik basin, a continuation of the prolific Amu Darya basin, in the Republic of Tajikistan to the southeast of Tethys’ current assets in Kazakhstan. Additional information in respect of the Kyzyloi shallow gas field and the Akkulka and Kul-Bas Contract Areas area including location, area, geologic age and lithology, depth, estimated costs and gas marketing information, appears in TPL’s prospectus dated June 18, 2007. read more

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