Tethys Petroleum Press Release
Rhea-AI Summary
Tethys Petroleum (TSXV: TPL) provided an operational update from Kazakhstan, reporting current oil production of 330 tons per day from three wells and gas production of 200,000 m3 per day from 20 wells.
The company outlined a three-phase expansion plan including: upgrading the Central Processing Facility, doubling gas utilization capacity to 50,000 m3 per day by September 2025, and increasing oil processing capacity to 2,000 tons per day with a new gas processing plant. The GPP project is expected to take 12 months and will increase gas utilization to 150,000 m3 per day.
Additionally, Tethys completed seismic fieldwork at Diyar block and received clarification on an arbitration ruling regarding 1.4 billion KZT payment from DSFK and the cancellation of 18 million shares held by Olisol Petroleum.
AI-generated analysis. Not financial advice.
Positive
- Current oil production at 330 tons per day from three wells
- Gas production of 200,000 m3 per day from 20 wells
- Planned expansion to increase oil processing capacity to 2,000 tons per day
- Favorable arbitration ruling for 1.4 billion KZT payment and share cancellation
- Completion of seismic fieldwork at Diyar block
Negative
- Legal challenges from DSFK and Olisol to set aside Court's order
- 12-month timeline for GPP project implementation indicates delayed benefits
News Market Reaction – TETHF
On the day this news was published, TETHF declined 26.65%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Corporate update
Grand Cayman, Cayman Islands--(Newsfile Corp. - July 25, 2025) - Tethys Petroleum Limited (TSXV: TPL) ("Tethys" or the "Company") is pleased to provide an update on the Company's operations in the Republic of Kazakhstan.
Operations update
Oil production is continuing from wells KBD-02, KBD-06, and KBD-07 at an average rate of about 300 tons per day over the last month, and 330 tons per day over the last week. Gas production has been averaging about 200,000 m3 per day from 20 wells.
The Company is going to execute phase II construction work in the Central Processing Facility of the Kul-Bas Oil Field to upgrade the oil processing and storage capacity. The company also plans to increase the current gas utilization capacity of 25,000 m3 per day up to 50,000 m3 per day through a gas turbine power system after installing the 2nd gas compressor in Sep 2025. Phase III is intended to increasing the oil processing and storage capacity for handling up to 2,000 tons per day after the installation of a gas processing plant (GPP). The Company has concluded an inspection of a GPP, and signed a contract for the purchase and construction of the GPP. This GPP will process and treat the associated gas and should increase the gas utilization capacity up to 150,000 m3 per day. The project timeline is estimated to be approximately 12 months.
Seismic fieldwork at the Diyar block has been completed, and processing and interpretation of the data is underway. The Company is considering its options for the Nurzhau exploration block.
The Company had previously reported that an arbitration ruling has been made on May 13, 2025 ordering DSFK to pay the Company approximately 1.4 billion KZT and for 18 million shares of the Company held by Olisol Petroleum Limited to be cancelled. We submitted an application of the interpretation of the award and received a ruling from the arbitrator amending the language to clarify that Tethys has the authority to cancel the 18 million shares. There have been also applications made to set aside the Court's order by DSFK and Olisol.
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/260205