Tethys Petroleum Ltd V.TPL

Alternate Symbol(s): TETHF

Energy Oil & Gas E&P

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.

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Tethys Petroleum Ltd

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Post by Intravires69on Jul 31, 2012 9:01am

187 Views

Post# 20168135

Halyk Finance

Tethys Petroleum gets new CEO and Chairman

Miramgul Maralova— July 31, 2012

PDF version

Yesterday, Tethys Petroleum announced that Mr. Julian Hammond was appointed as CEO of the company with immediate effect.

Prior to this appointment, Mr. Hammond held various management positions in the company since July 2006, and served as Deputy CEO since February 2011. The Rt. Hon. Peter Lilley was appointed as Non- Executive Chairman of the Board. Previously, these positions were held by Dr. David Robson who left the company due to health reasons.

Our view. We see the announcement as neutral for the stock. We cover Tethys Petroleum with a 12-month target price of CAD1.93 per share and a Buy recommendation.

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