Tuesday, September 8, 2009

Canadian Stock Research - Tethys Petroleum

Canadian Stock Research News Update:

"Tethys Petroleum Limited: Drilling Update"

ST. PETER PORT, GUERNSEY--(Marketwire - Sept. 7, 2009) - Tethys Petroleum Limited ("Tethys" or the "Company") (TSX:TPL) today provided an update on its drilling activities in Kazakhstan and Tajikistan.


Exploration well AKD01, which is the Company's first "deep" well in the Akkulka Block ("Akkulka") in Kazakhstan, is currently at a depth of 3,414 metres (11,200 feet) in what is interpreted to be the Triassic sequence. This well has targets in the Cretaceous/ Jurassic sequence and in the underlying Triassic sequence. Electric logs have now been run over the upper part of this interval and these logs have been independently interpreted. In parallel to the results of these logs, hydrocarbon indications were also observed during drilling.

Independent petrophysical analysis confirms the interpretation of moveable hydrocarbons in at least two zones in the Lower Cretaceous / Jurassic interval which may be oil and/or gas condensate. The large Urga gas condensate field (which lies to the south of the AKD01 well) in northern Uzbekistan produces from the Jurassic sequence in a similar structural position. Production testing is planned for these intervals once the well reaches total depth and it is planned to case this section prior to drilling ahead. Only after production testing can a definitive statement be made on the potential for commercial production of oil and/or gas from this well. Currently preparations are being made to clean the hole prior to running casing.


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