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Wednesday, 12 June 2013
Tethys Petroleum headlines next Proactive One2One forum in Vancouver
Our next Proactive Investors One2One Forum in July will take investors to the exciting region of Central Asia with Tethys Petroleum (TSE:TPL), which is exploring and producing oil and gas in Kazakhstan, Tajikistan and most recently Uzbekistan.
The event will take place July 8th in Vancouver, kicking off at 1:30 pm, at the Metropolitan Hotel Vancouver - 645 Howe Street - Connaught Room.
We are offering investors a rare opportunity to hear from directors of Tethys Petroleum, which just last month signed a Protocol of Intent with the Uzbek State oil and gas company, Uzbekneftegaz (UNG) for exploration work in the North Ustyurt Basin of Northern Uzbekistan.
In six years, Proactive Investors, a digital news and events business, has organized more than 300 events in Australia, Canada, Europe and USA, introducing investors to some of the stock market’s best-performing small and midcap companies.
At the One2One forum, Tethys Petroleum will make a 20 minute pitch followed by a 10 minute inquisition by a roomful of potential investors. Once the companies have presented, complimentary canapés and beverages are available for 90 minutes during a break-out session, where attendees can mingle with other guests, or ask more questions to the presenters.
Tethys's recent signing of a preliminary exploration deal in Uzbekistan is in line with the company's strategy to acquire underexplored territory with exploration potential. According to its website, Tethys is the only independent oil and gas company operating in Uzbekistan.
The Central Asia-focused oil and gas company reported that its revenue rose 94 per cent in the first quarter to $12.6 million, as production increased 24 per cent to 6,366 barrels per day from 5,117 barrels per day.
Tethys Petroleum has a strong foothold on its assets with enormous potential for future growth. In Kazakhstan last year, the company updated its gross unrisked recoverable mean prospective oil resources to 1.23 billion barrels of oil, plus 634 Bcf of natural gas.
It also earlier this year announced the signing of a new deal with Kazakh authorities, which effectively doubles the price it receives for gas from the Kyzyloi and Akkulka fields. The company will supply up to 150 million cubic metres at a price of US$65 per thousand cubic metres. Tethys is planning to drill up to three wells targeting oil on the Akkulka exploration contract in Kazakhstan, with the first well expected to start drilling this month.
Tajikistan is also bubbling for the company as Tethys in January completed a farm-out agreement for the Bokhtar Production Sharing Contract (PSC) in the region with subsidiaries of the French super-major Total S.A. (NYSE:TOT) and the China National Oil and Gas Exploration and Development Corporation (CNODC) - part of the Chinese State company CNPC.
To find out more details and register for this event, please click here.