Central Asia focused Tethys Petroleum (TSE:TPL) expects to mobilise a rig to drill a deep well in Tajikistan before the end of the year, the firm said today as it updated about activities in the country.
It has put out a tender to find a group to complete the final seismic programme at the Bokhtar PSC (production sharing contract).
This additional seismic work will involve around 870km in two areas - the Dushanbe Step and the Vaksh valley - and follows work completed at the end of 2011 which revealed several attractive prospects.
Tethys said it expected the data to be collected this summer with initial interpreted results in the fourth quarter of this year.
It's large drilling rig "Telesto" will be mobilised to Tajikistan before the end of this year, it told investors.
Tethys now owns 85 per cent of the Tethys PSC acreage and after it recently bought an additional 34 per cent interest from its partner in the project.
The Bokhtar PSC covers an area of around 35,000 sq km in the Afghan Tajik basin west of the Pamir mountains and the firm said its strategy to drill the first deep exploration well below the regional salt layer is firmly on track.
Listed on the Toronto and Kazakhstan stock exchanges, the company has projects in Kazakhstan, Tajikistan and Uzbekistan.