2009-10-09

Tethys Reveals Biz Strengths in "The Energy Report"

QuamNews

Tethys Petroleum ("Tethys", TSX: TPL), a prominent oil and gas exploration and production company in Central Asia, talked about their business strengths in "The Energy Report".

Tethys mentioned that it has projects in Kazakhstan, Tajikistan and Uzbekistan. The company has 2 development properties located in Kazakhstan that produce gas and has oil operation located in Uzbekistan. The company also has very large-scale exploration property in Tajikistan, where its current license covers over 35,000 square kilometres in an area where limited exploration activities were undertaken in the past.

Tethys said it focuses on Central Asia, which has very significant potential in hydrocarbons, in both oil and gas, and significant exploration opportunities exist, and added that the company utilizes new western technology to reach more hydrocarbon resources, enabling it to become very prolific plays.

Tethys pointed out that Uzbekistan and Kazakhstan are short of gas on average and are importing gas at the moment, the company has chosen those areas where they can actually find off-take agreements for their gas. Given the relatively small production with plenty of oil pipelines built in Uzbekistan, Tethys is simply trucking oil from its field to the railway terminal, goes by rail or ship to the nearby refinery, benefiting from the lower transportation cost.

- quamnet.com / kl -