Tethys Petroleum Corporate Update
Rhea-AI Summary
Tethys Petroleum (TSXV: TPL) has secured an Ecology permit for oil production at Kulbas, valid through December 31, 2024. The company is preparing to initiate production from wells KBD #2 and KBD #6, with KBD #7 connection commissioning scheduled for December 1, 2024. The 2025 Ecology permit application is under review, while the gas flaring permit for 2025 has been obtained.
Positive
- Received Ecology permit for oil production at Kulbas through December 2024
- Obtained gas flaring permit for 2025
- Imminent production start from multiple wells (KBD #2, #6, #7)
Negative
- Current Ecology permit expires December 31, 2024
- 2025 Ecology permit still pending approval
News Market Reaction 1 Alert
On the day this news was published, TETHF gained 19.57%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Grand Cayman, Cayman Islands--(Newsfile Corp. - November 18, 2024) - Tethys Petroleum Limited (TSXV: TPL) ("Tethys" or the "Company") is pleased to announce that it has received the Ecology permit for oil production at Kulbas. This permit is valid through December 31, 2024. The company is in the process of commissioning the facilities to start production from KBD #2 and KBD #6 as soon as possible. The commissioning with the connection to KBD#7 is scheduled to be started on December 1, 2024. The Ecology permit application for 2025 is currently under review by the Ecology department. The permit for the gas flaring for 2025 has already been received.
About Tethys
Tethys is focused on oil and gas exploration and production activities in Central Asia and the Caspian Region.
Disclaimer
Some of the statements in this document are forward-looking. No part of this announcement constitutes, or shall be taken to constitute, an invitation or inducement to invest in the Company or any other entity and shareholders of the Company are cautioned not to place undue reliance on the forward-looking statements. Save as required by applicable law, the Company does not undertake to update or change any forward-looking statements to reflect events occurring after the date of this announcement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information:
Tethys Petroleum
Casey McCandless
Chief Financial Officer
901-763-4001
info@tethys-group.com
www.tethys-group.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/230504
FAQ
When did Tethys Petroleum (TSXV: TPL) receive its Kulbas oil production Ecology permit?
Which wells is Tethys Petroleum (TSXV: TPL) commissioning at Kulbas?
What permits has Tethys Petroleum (TSXV: TPL) secured for 2025 operations?
