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Tuesday, 10 September 2013
Tethys Petroleum receives presidential approval for Chegara oilfields
Tethys Petroleum (LON:TPL) (TSE:TPL) told investors it has now received final presidential approvals for a production enhancement contract (PEC) for the Chegara oilfields in Uzbekistan.
The contract will now be registered with the relevant state authorities and work is expected to begin within the next two months.
Chairman Dr David Robson said: "It was a great pleasure to receive confirmation of the Presidential approval for the Chegara PEC from UNG, and we look forward to commencing equity production from Chegara in the nearest future, this adding another cash flow stream to the company's portfolio from what we believe to be a significant asset with excellent potential."