Tethys Successful First Gas Well of 2014 Programme

 
TIDMTPL 
 
Successful First Gas Well of 2014 Programme 
FOR:  TETHYS PETROLEUM LIMITED 
 
TSX, LSE SYMBOL:  TPL 
 
March 7, 2014 
 
Tethys Petroleum Limited: Successful First Gas Well of 2014 Programme 
 
BOZOI, KAZAKHSTAN--(Marketwired - March 7, 2014) - Tethys Petroleum Limited ("Tethys") (TSX:TPL) (LSE:TPL), the 
oil and gas exploration and production company focused on Central Asia and the Caspian Region, is pleased to 
announce that AKK17, the first shallow gas exploration well of its 2014 programme has been successful. Analysis 
of data from the well indicates it to be similar to the AKK15 well which tested gas at a stable rate of 
approximately 7 million cubic feet (195,000 cubic metres or 1,167 barrels oil equivalent) per day, and the 
AKK17 appears likely to test at a comparable rate. 
 
The AKK17 well, drilled to a depth of 653 metres (2,142 feet) some 2.2 kilometres (1.4 miles) NE of the AKK15 
well, encountered a 4 metre (13.1 feet) interval of gas bearing Tasaran sand with an average porosity of 31%. 
This compares to the AKK15 well which also encountered a 4 metre (13.1 feet) gas-bearing interval of similar 
quality, and which will be tied in as part of this years programme. The AKK17 well will be flowed as part of a 
testing programme to be carried out after further wells have been drilled. The drilling rig has now been 
mobilised to the second shallow gas exploration well location, AKK18, and drilling should commence within the 
next week. 
 
The current shallow gas programme includes the drilling of up to 10 new exploration wells, based on the latest 
seismic data, as well as workovers and tie-ins, and is targeting a three fold increase in gas production by the 
beginning of 2015. Current production is some 9.2 million cubic feet (324,000 cubic metres) per day. At this 
time it is also hoped that negotiations of a new gas supply contract potentially to the Chinese market have 
been concluded now that the gas trunkline connecting to the Central Asia - China gas export system has been 
commissioned. 
 
Graham Wall, Chief Operating Officer of Tethys commented, "The success of the AKK17 well once again shows that 
our geological model and geophysical interpretation of these sandstones is robust. This well will contribute 
significantly to our planned increased gas production and we are pushing forward with the rest of the 
programme." 
 
On other operations and production levels in Kazakhstan: Oil production from the Doris field is currently at 
approximately 3,000 barrels of oil per day with the mechanical issues relating to well pumps having now been 
resolved and the recent adverse weather conditions having improved. Further work is planned this year to 
increase oil production including horizontal drilling and bringing on stream the Dione oilfield. 
 
Testing of the AKD08 (Doto) well over the Jurassic carbonate interval is ongoing. Despite indications of 
hydrocarbons from the well data, so far no commercial flow has been achieved. In order to fully test this zone 
it is planned to carry out radial drilling with the aim of intersecting fracture systems which are likely to be 
a major flow conduit in this carbonate reservoir. Such equipment is currently being sourced and this work will 
be carried out as soon as is possible. 
 
Despite extreme winter weather and significant logistical issues, including roads being closed by the 
authorities because of weather, the first phase of the stimulation on the KBD01 has now been successfully 
completed with the reservoir being fracked. Further work is now required to complete the stimulation of the 
well, which is targeting what is believed to be gas condensate in tight Carboniferous platform carbonates 
within a significant structure. Equipment for this final stage is currently being sought and will be mobilised 
as soon as the required tendering is completed and the weather has improved. 
 
Tethys is focused on oil and gas exploration and production activities in Central Asia and the Caucasus. This 
highly prolific oil and gas area is rapidly developing and Tethys believes that significant potential exists in 
both exploration and in discovered deposits. 
 
This press release contains "forward-looking information" which may include, but is not limited to, the 
potential for successful discoveries and their commercialization, and our exploration targets. Such forward- 
looking statements reflect our current views with respect to future events and are subject to certain 
assumptions, the fact that the Company will be successful in confirming the existence of the accumulations of 
petroleum in respect of its exploration targets, and subject to certain risks and uncertainties, including the 
risk that limited discoveries will result from exploration wells and as a result the risk that any or all of 
the prospective resources will not become recoverable. 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. 
 
 
-30- 
 
FOR FURTHER INFORMATION PLEASE CONTACT: 
 
Tethys Investor Relations 
Tethys Petroleum Limited 
Sabin Rossi 
Vice President Investor Relations 
[e-mail] 
 
OR 
 
Media / IR Enquiries - London 
FTI Consulting 
Ben Brewerton 
[phone] 
 
OR 
 
Asia Pacific 
Quam IR 
Anita Wan 
[phone] 
 
OR 
 
Tethys Petroleum Limited 
[e-mail] 
Web: http://www.tethyspetroleum.com 
Mobile site: m.tethyspetroleum.com 
Twitter: https://twitter.com/tethyspetroleum 
 
 
 
 
Tethys Petroleum Limited