Not sure it's on many investor's radar, so here it goes..
Tethys Petroleum (TPL) has been listed on the LSE since July 2011. It is also listed on the Toronto Stock Exchange. Current share price 46p. Market Cap £130m.
ONLY INDEPENDENT OPERATING IN THREE CENTRAL ASIAN REPUBLICS
Tethys is focused on oil and gas exploration and production activities in Central Asia with activities currently in the Republics of Tajikistan, Kazakhstan and Uzbekistan. This highly prolific oil and gas area is rapidly developing and Tethys believes that significant potential exists in both exploration and in discovered deposits.
Estimated production should now be currently 8,000 boepd. In Kazakhstan, appraisal of Doris and further oil exploration activities are planned for 2012. The company has also been producing gas from two shallow gas fields, Kyzyloi and Akkulka, since 2007 and has plans to continue expansion of this gas development.There is potential for further development in the future to export into the new Kazakh China gas pipeline planned to open in 2013. Potential game changer with regard to gas price – maybe 5 – 7x uplift.
Tethys recently announced the opening of a new oil storage and rail loading facility for its Doris field in Kazakhstan. This will enable them to double production to 4,000 bopd with reduced costs" The opening of the AOT will thus reduce transportation costs significantly and will result in an increased realised oil price. The recent acquisition of additional road trucks means that 240 are now in daily operation." To date, over 13,000 bopd have been tested from exploration and appraisal wells in and around the Doris accumulation. This is the first stage of the AOT, and it is planned to expand the facility to 12,000 bopd in the upcoming year." The company plans to drill 2-3 more wells in Doris before moving to full field development plan.
Tethys Petroleum's current activities in Uzbekistan relate to increasing oil production from the North Urtabulak oilfield. Here the Company operates under a Production Enhancement Contract ("PEC") with NHC Uzbekneftegaz, the State oil and gas company and is involved in working to increase oil production. The North Urtubulak field is located in the Kashkadarya region of Uzbekistan south east of the city of Bukhara and within the prolific Amu Darya basin. Tethys Petroleum is planning to further expand production under the…
Cheers for the headsup on this one. Very useful.
