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Tethys Petroleum Ltd V.TPL

Alternate Symbol(s):  TETHF

Tethys Petroleum Limited is an oil and gas exploration and production company focused on Central Asia and the Caspian Region with projects in Kazakhstan. Through its subsidiaries, TethysAralGas LLP and Kul-Bas LLP, it operates over four contracts in the North Ustyurt basin to the west of the Aral Sea adjacent to the prolific Pre-Caspian basin. It has a 100% working interest in the Kyzyloi Production Contract (449 square kilometers (km2)), Akkulka Exploration License and Contract (827 km2), Akkulka Production Contract (396 km2) and Kul-Bas Exploration and Production Contract (7,632 km2). The Kul-Bas exploration and production contract area surrounds the Akkulka block, which has an exploration area of over 7,632 km2. Kyzyloi and Akkulka gas development fields are tied into the Bukhara-Urals gas pipeline by an over 56-kilometer pipeline owned and built by the Company. The Doris oil field provides over two oil-bearing zones, the lower zone and an upper, lower cretaceous sandstone zone.


TSXV:TPL - Post by User

Bullboard Posts
Comment by Darcyslawon Mar 18, 2011 4:14am
277 Views
Post# 18303438

RE: RE: RE: RE: OBSERVATIONS

RE: RE: RE: RE: OBSERVATIONS

Hi Ultra,

 

Just a fairly short answer now, hopefully I’ll find the time later to write a bit more.

 

It’s correct as you say, this zone will not be tested any time soon; first they need to drill a side track and change the casing program to cope with the higher pressure. This might happen I Q2, but give the time frame we discussed on Doris-3, and that they will probably test D-2 after that, we might be looking at Q3 for results on this zone.

 

As for the pressure, this will be some generalizing (there are always exceptions) but a higher pressure could indicate a gas filled reservoir, or a gas cap with oil below. As a general trend, when you go deeper the likelihood for gas increases, due to higher temperature that “cracks” the hydrocarbon chains to shorter chains (i.e. gas). Also the fact that you could be closer to a deeper source rock (where the oil/gas is generated) increases the likelihood for gas along the same type of reasoning.

 

IF there is gas in that deeper zone in G6, it’s very unlikely that it will be dry as in TPL’s shallow gas fields; it would probably have significant amounts of condensate which would improve the commerciality.

 

Finally, having a high pressure (in comparison with the hydrostatic pressure at the same depth) is often an indication that you have a high hydrocarbon column, where the over-pressure is created by the difference in density between the hydrocarbon (oil or gas) and the water, if you remember the old P = g*d*h equation.

 

My guess would be that there is a rich gas cap with an underlying oil zone. Time will tell.

 

All the best,

 

Darcy

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