Tethys Gets OK for Doris Oil Reserves

Tethys has received Kazakh State approved oil reserves for its Doris (AKD01) oil discovery in Kazakhstan.

Tethys' wholly owned subsidiary TethysAralGas (TAG) has received approved oil reserves (in C1 and C2 categories) from the Kazakh State Reserve Committee (part of the State Committee for Geology) for the AKD01 (Doris) oil discovery. This is an important step forward with respect to the approval of TAG's pilot production project for Doris which is currently under consideration by the Ministry of Oil and Gas with TAG expecting approval of this project by year end.

Tethys also gave a brief update on current operations activities in Kazakhstan.

On the G6RE (Dodone) well preparations are underway for the testing and acidization (by Schlumberger) of the Upper Jurassic carbonate interval which would be carried out in conjunction with acidization of the same interval in the AKD02 (Doris NW) well. Testing operations should commence within the next week to ten days with initial results being available in November.

The AKD03 (Dione) exploration well is currently drilling ahead at a depth of 3,304 meters (in what is interpreted to be the lower Jurassic sequence). A further interval with hydrocarbon shows has been encountered whilst drilling through the middle Jurassic sequence at approximately 3,000 meters. This well is planned to penetrate the Triassic sequence and reach total depth of some 4,300 meters in the Permo-Carboniferous. It is currently anticipated that total depth should be reached in mid-November.

Acquisition of the initially planned 290.3 km(2)of 3D seismic has now been completed and the survey has now been extended westwards to include the area around the Dodone prospect. Processing of the data is now underway.