Thought I would start a thread on this company.

http://www.tethyspetroleum.com/tethys/index.action



Any holders or views on here?

I hold

Tethys Petroleum Limited: Tajik Farm-out Deal Completed

Date : 18/06/2013 @ 11:44
Source : Marketwired Canada
Stock : Tethys (TPL)
Quote : 55.5 -0.875 (-1.55%) @ 16:29


HOME » LSE » LSE » Tethys share price






Tethys Petroleum Limited: Tajik Farm-out Deal Completed

Tethys Petroleum Limited ("Tethys" or "the Company") (TSX:TPL)(LSE:TPL)
announces the completion of the farm-out agreement announced in December 2012
with subsidiaries of Total Exploration and Production ("Total") and China
National Petroleum Corporation ("CNPC") whereby each acquired a one third
interest in its Bokhtar Production Sharing Contract (the "Bokhtar PSC") in
Tajikistan.


The Bokhtar PSC covers an area of some 35,000 km2 and contains some 27.5 billion
barrels oil equivalent of gross unrisked mean recoverable prospective resources
(according to independent figures).


As part of the acquisition, the Tajik Government has also now added a further
1186.37 km2 of highly prospective acreage which was not previously included in
the Bokhtar PSC, and has also extended the first relinquishment period under the
PSC by five years until 2020.


Today's signing ceremony in Dushanbe, Tajikistan, was attended by Mr. Gul
Sherali, the Minister of Energy and Industry of Tajikistan, Mr. Bo Qiliang,
President of CNODC, Mr. Michael Borrell, Senior Vice President Continental
Europe and Central Asia of Total and Dr. David Robson, Executive Chairman and
President of Tethys Petroleum Limited.


Completion of the deal will enable the consortium to progress exploration plans
within the Bokhtar PSC with further seismic acquisition and the drilling of deep
exploration wells to evaluate the potential super giant deposits which are
thought to be present in the area. This area is an extension of the highly
prolific Amu Darya Basin, which contains some of the world's largest gas and
condensate fields.


The PSC is now held equally by the three partners who own approximately one
third of the project each. An operating company, the Bokhtar Operating Company,
has been established and is jointly owned by the three partners.


Tethys' subsidiary Kulob Petroleum Limited ("KPL") which holds the Company's
interest in the Bokhtar PSC receives some US$63 million relating to its past
costs. It also has a part carry on an US$80 million initial work programme
whereby KPL contributes only US$9 million towards this programme. Full details
of the 2013 - 2014 work programme will be announced shortly.


Dr David Robson, Executive Chairman and President of Tethys, said:

"We believe the Bokhtar PSC is a world class asset with enormous potential. The
strengths brought to this project by our new partners, Total and CNPC, means we
are in a position to rapidly explore and develop this potential using all
available techniques and technologies and with the financial strength to
maximise success."


Michael Borrell, Senior Vice President, Continental Europe Central Asia, Total
Exploration & Production said:


"This acquisition is aligned with our bolder exploration strategy and positions
Total in one of the world's most prolific gas basins. The partnership between
Total, CNPC and Tethys is particularly well equipped to conduct successful
exploration and potentially develop a value-creating project."


Total S.A.

Total is one of the largest integrated oil and gas companies in the world, with
activities in more than 130 countries. The Group is also a first rank player in
chemicals. Its 97,000 employees put their expertise to work in every part of the
industry - exploration and production of oil and natural gas, refining and
marketing, new energies, trading, and chemicals. Total is working to help
satisfy the global demand for energy, both today and tomorrow. www.total.com


CNPC

CNPC is China's largest oil and gas producer and supplier, as well as one of the
world's major oilfield service providers and a global contractor in engineering
construction. CNPC also owns and operates the Central Asia-China Gas Pipeline.
The pipeline starts at Gedaim on the border of Turkmenistan and Uzbekistan, runs
through central Uzbekistan and southern Kazakhstan, and ends at Horgos in
China's Xinjiang Uygur Autonomous Region, where it interconnects to CNPC's
Second China West-East Gas Pipeline. CNPC is also the parent company of
PetroChina listed on the New York Stock Exchange and the Hong Kong Stock
Exchange.


An Independent Resource Report of the Bokhtar PSC (dated June 30, 2012),
prepared by Gustavson Associates in accordance with Canadian National Instrument
51-101, estimates Gross unrisked mean recoverable prospective resources of 27.5
billion barrels of oil equivalent, consisting of 114 trillion cubic feet (3.22
trillion cubic metres) of gas and 8.5 billion barrels of oil.


Tethys is focused on oil and gas exploration and production activities in
Central Asia with activities currently in the Republics of Kazakhstan,
Tajikistan and Uzbekistan. This highly prolific oil and gas area is rapidly
developing and Tethys believes that significant potential exists in both
exploration and in discovered deposits.


The references in this press release to "prospective resources" means those
quantities of petroleum estimated, as of June 30, 2012, to be potentially
recoverable from undiscovered accumulations by application of future development
projects. Prospective resources have both an associated chance of discovery and
a chance of development. There is no certainty that any portion of these
resources will be discovered. If discovered, there is no certainty that it will
be commercially viable to produce any portion of these resources. The use of the
word "Gross" means 100% of the PSC.


The resources estimates contained or referred to are estimates only and are not
meant to provide a determination as to the volume or value of hydrocarbons
attributable to the Company's properties. There are numerous uncertainties
inherent in estimating quantities of resources and cash flows that may be
derived, including many factors that are beyond the control of the Company. The
following is a non-exhaustive list of factors which may have a significant
impact on the above estimates of prospective resources: despite the
classification that they are as yet undiscovered but may be potentially
recoverable the Company may be unable to carry out the development or their
potential recovery; the activity may not be economically viable; the Company may
not have sufficient capital or time to develop them; there may be no market or
transportation routes for the production; legal, contractual, environmental and
governmental concerns might not allow for the recovery being undertaken;
reservoir characteristics might prevent recovery. The recovery of the resources
is subject to the following risks and uncertainties: market fluctuations, the
proximity and capacity of oil and gas pipelines and processing equipment,
government regulation, political issues, export issues, competing suppliers,
operational issues (exploration, production, pricing, marketing and
transportation), extensive controls and regulations imposed by various levels of
government, lack of capital or income, the ability to drill productive wells at
acceptable costs, the uncertainty of drilling operations, factors such as
delays, accidents, adverse weather conditions, and the availability of drilling
rigs and the delivery of equipment.

This press release contains "forward-looking information". Such forward-looking
statements reflect our current views with respect to future events and are
subject to certain assumptions. See our Annual Information Form for the year
ended December 31, 2012 for a description of risks and uncertainties relevant to
our business, including our exploration activities. The "forward looking
statements" contained herein speak only as of the date of this press release
and, unless required by applicable law, the Company undertakes no obligation to
publicly update or revise such information, whether as a result of new
information, future events or otherwise. A barrel of oil equivalent ("boe")
conversion ratio of 6,000 cubic feet (169.9 cubic metres) of natural gas = 1
barrel of oil has been used and is based on the standard energy equivalency
conversion method primarily applicable at the burner tip and does not represent
a value equivalency at the wellhead.

FOR FURTHER INFORMATION PLEASE CONTACT:
North America & Europe
Tethys Petroleum Limited
Sabin Rossi
Vice President Investor Relations
srossi@tethyspetroleum.com

Asia Pacific:
Tethys Petroleum Limited
Chris Justice
Communications Manager - Asia
cjustice@tethyspetroleum.com

FTI Consulting - London
Ben Brewerton / Natalia Erikssen
+44 207 831 3113

Tethys Petroleum Limited
info@tethyspetroleum.com
http://www.tethyspetroleum.com
Mobile site: m.tethyspetroleum.com

why the fall? surprised!

Work Programme announced this morning also. See rns at 7am

Ahoj, surprised also but I envisage a steady climb up now. Much better position than this time last year when it was 60p.

Maybe the 10% ers are taking their profits so we nudge on from here

Chegara presidential decree a boost for Tethys Petroleum

Drilling commenced on one well Friday targeting 22m barrels of oil.
Another well to start drilling October targeting 14m barrels of oil.
Drilling time between 45-70 days.
TPL should see a good rise up to drilling results. Nice buy area at the 40p ish level.

TETHYS PETROLEUM LIMITED TSX, LSE SYMBOL: TPL October 18, 2013 Tethys Petroleum Limited: Kazakhstan Operations Update BOZOI, KAZAKHSTAN--(Marketwired - Oct. 18, 2013) -

Tethys Petroleum Limited ("Tethys" or "the Company") (TSX:TPL)(LSE:TPL), the E&P Company focused on Central Asia and the Caspian Region, provided an update on operations in Kazakhstan. AKD08 ("Doto") Well The AKD08 ("Doto") well has reached a depth of 1,368 metres and electric logs have been run in the hole. The 13 3/8th casing is being run and once cemented drilling will recommence in the 12 1/4" hole section.
The Doto well is expected to take approximately 70 days in total to drill to a planned total depth of 3,500 metres using Tethys' own ZJ70 "Telesto" rig. The well is located to the south-west of the Company's producing Doris field and north of its Dione oil discovery in Kazakhstan. The well is designed to target several potential zones, including the Lower Cretaceous sandstone and Upper Jurassic carbonate sequences as proven in Doris, and also the deeper Triassic sequence. Whilst drilling in the shallower levels at approximately 600 metres, high levels of gas were encountered and these shows together with the logs indicate a potential gas discovery at the Tasaran stratigraphic level as previously demonstrated to be commercial on test in the nearby AKK14 and AKK15 wells. It is expected that a gas appraisal well could now be incorporated into the forward shallow gas drilling program to test this accumulation.

AKD09 ("Dexa") The AKD09 ("Dexa") exploration well is planned to spud on October 26th, 2013. The well is located to the North- West of the producing Doris field and is designed to target Lower Cretaceous channel sandstone sequences similar to the current major producing unit in the Doris field. It is forecast to take approximately 45 - 50 days to drill to a planned total depth of 2,400 metres. KBD01 ("Kalypso") The KBD01 (Kalypso) comprehensive testing programme initially on the Permo-Carboniferous interval will commence in early December. Currently the well is undergoing operations to conduct a cement job over the 7" liner section prior to the main testing programme. The testing programme will involve initial perforation and potentially acidisation followed by fracture stimulation of the carbonate interval approximately 4,100 meters below the surface and will take up to one month to complete. Electric logs run over this section indicated more than 100 metres of gross potential hydrocarbon bearing zones in what are interpreted to be shelf limestones with hydrocarbon shows also being noted whilst drilling. Shallow Gas Drilling Program The shallow gas exploration program is expected to commence in early November and the wells are expected to be drilled consecutively on a number of additional prospects and leads which have been identified based on seismic data. These are relatively low risk targets and of the last 13 shallow exploration wells previously drilled by Tethys in the Akkulka Block, 11 tested commercial gas. The planned gas exploration wells are typically 600-800 meters measured depth and will take up to three weeks each to drill. Currently these are located mainly in the central and south-eastern part of the Akkulka Exploration Contract and relatively close to existing gas infrastructure and the Akkulka Production Contract area. Seismic
The latest 3D seismic program on the Akkulka Block is over 78% complete with a planned 100 square kilometres of 3D data being acquired over further prospects identified north west of the producing Doris wells and with similar Cretaceous reservoirs predicted. Furthermore an additional 35 kilometres of 2D data has been acquired and recently processed within the Akkulka block, but targeting additional areas of interest in and around the shallow producing Kyzyloi gas field. This is in addition to the 200 kilometres of 2D seismic data also recently acquired and processed over the wider KulBas exploration area. Aral Oil Terminal Following the successful approval of Phase 2b of the Aral Oil Terminal ("AOT") earlier in the year Phase 3 expansion is expected to be approved some time in November.
Under Phase 3 an electrical dehydrator has now been installed and is operationally ready which will significantly improve the quality of oil. It is expected to realise a higher oil price once this equipment is applied in the oil preparation process. Oil Production As previously announced due to a programme involving the installation and optomisation of artificial lift equipment and improvements in fluid handling, oil production levels have been temporarily reduced, and currently the field is producing some 2,250 barrels of oil per day. Mechanical issues relating to the effective installation and operation of the downhole pumps have delayed completion of this programme, however it is expected these issues will be resolved within the next ten days whereupon it is planned to resume production of approximately 3,500 barrels of oil per day.
The workover and additional testing operations on the AKD03 in the Dione oil field well planned for Q1 2014 are expected to add some 500 bopd subject to test results.

The AKD03 well discovered oil in a Jurassic sandstone that is estimated to have approximately 4.25 million barrels of 2P reserves (Gustavson & Associates December 31, 2012) and current expected production of 3,500 bopd does not include any production from this oil field. The 2P reserves (defined as Proved (Developed Non Producing and Undeveloped) and Probable) attributed to the AKD03 well are included in the oil and natural gas reserves data for our Kazakhstan properties set out in our Annual Information Form for the year ended December 31, 2012 available on sedar.com.
A barrel of oil equivalent ("boe") conversion ratio of 6,000 cubic feet (169.9 cubic metres) of natural gas = 1 barrel of oil has been used and is based on the standard energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

This press release contains "forward-looking information" which include statements related to the expected drilling period of the exploration wells and expected production levels. Such forward-looking statements reflect our current views with respect to future events and are subject to certain assumptions, including the assumption that the 70-day period (AKD08), 45-50 day period (AKD09) and three week period (shallow gas exploration wells) will be sufficient for drilling the exploration wells to depth and that oil production from our Kazakhstan operations will reach 4,000 bopd in Q1 2014. These forward looking statements are subject to risks and uncertainties, including the risk that the drilling period for the exploration wells will extend beyond the expected periods and that production will not reach 4,000 bopd in Q1 2014 or thereafter because of operational and geological factors. See our Annual Information Form for the year ended December 31, 2012 for a description of risks and uncertainties relevant to our business, including our exploration activities. The "forward looking statements" contained herein speak only as of the date of this press release and, unless required by applicable law, the Company undertakes no obligation to publicly update or revise such information, whether as a result of new information, future events or otherwise. FOR FURTHER INFORMATION PLEASE CONTACT: Tethys Investor Relations Sabin Rossi Vice President Investor Relations Tethys Petroleum Limited srossi@tethyspetroleum.com OR Media / IR Enquiries London FTI Consulting Ben Brewerton / Natalia Erikssen +44 207 831 3113 OR Asia Pacific Quam IR Anita Wan Office phone/fax: +852 2217 2999 OR Tethys Petroleum Limited info@tethyspetroleum.com Web: http://www.tethyspetroleum.com Mobile site: m.tethyspetroleum.com Tethys Petroleum Limited

WATCH: David Robson, Chairman and President of Tethys Petroleum, presents at the 64th Oilbarrel Conference

Click here to watch

The start of TPL making a come back from this very low base? Seriously in need of the Chinese money getting paid into TPL coffers and the new gas wells coming into production, given their high admin costs.

With Oil price rising, TPL has great potential and should recover fast.

They were achieving $13 a barrel in January!

They've loans at 8% coupon.

They're in a battle to survive like many in the sector.

Hopefully they've got themselves in survival mode.

A bit of life recently!

Tethys Petroleum Limited Press Release: 2015 Q1 Results