Thursday, 28 February 2013

Tethys Petroleum extends Kul-Bas contract for two years

Tethys Petroleum (LON:TPL, TSE:TPL) this morning told investors that its Kul-Bas exploration and production contract in Kazakhstan has been extended for two more years.
The new contract runs until November 11 20125, it said.
This covers the Akkulka contract area and it includes producing oil and gas fields.
The company said the extension allows it more time to explore the attractive area which contains several prospects and leads, and a proved commercial oil and gas system.
Among the projects within Kul-Bas is the Kalypso well which encountered several  intervals with hydrocarbons and is due to be tested later this year.

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