Tethys Updates Operations at Tajik Well

Tethys announced a further update on the East Olimtoi EOL09 exploration well in south-western Tajikistan.

Electric logs have now been run in the well over the Alai interval (a secondary target) which, as previously announced produced live oil and gas to surface while drilling and showing high formation pressures. The electric logs have confirmed the probable presence of moveable hydrocarbons in the interval from 3,341 to 3,500 meters. Independent petrophysical interpretation indicates up to 32 meters of net hydrocarbon bearing pay in the section with porosities of up to 17%. No oil-water contact is interpreted in this section of the well. The potential closure covers an area of over 10 km2 in the East Olimtoi prospect alone.

The well is currently drilling ahead at a depth of 3,544 meters in the Suzak shale which separates the Alai from the Bukhara limestone. Depending on formation pressures it is planned to set 7 inch casing at the base of the Suzak Shale prior to drilling through the Bukhara. It is planned to conduct production testing on all zones of interest after the drilling has been completed in approximately 3-4 weeks.