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June 2, 2022, 1:01 a.m. EDT

Tethys Petroleum Press Release: Corporate Update

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Grand Cayman, Cayman Islands, Jun 02, 2022 (Newsfile Corp via COMTEX) -- Grand Cayman, Cayman Islands--(Newsfile Corp. - June 2, 2022) - Tethys Petroleum Limited /zigman2/quotes/209088915/delayed CA:TPL 0.00% (" Tethys " or the " Company ") is pleased to provide a corporate update.

Exploration update and production update

The KBD-08 well has commenced testing the Upper Barremian zone, which was not previously encountered in other wells. The well produced at a rate of approximately 550 tons (4 377 bopd) per day using a 17mm choke. Using an 11 mm choke the current rate of production is about 285 tons (2 268 bopd) per day over the last 3 days and total combined production for all of the wells has increased to about 720 tons (5 729 bopd) per day. The KBD-04 drilling has reached a depth of over 2,117 meters and is expected to be completed around June 20th.

About Tethys

Tethys is focused on oil and gas exploration and production activities in Central Asia and the Caspian Region. Tethys believes that significant potential exists in both exploration and in discovered deposits in the area.

Disclaimer

Some of the statements in this document are forward-looking. No part of this announcement constitutes, or shall be taken to constitute, an invitation or inducement to invest in the Company or any other entity and shareholders of the Company are cautioned not to place undue reliance on the forward-looking statements. Save as required by applicable law, the Company does not undertake to update or change any forward-looking statements to reflect events occurring after the date of this announcement.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information:

Tethys Petroleum
Casey McCandless
Chief Financial Officer
901-763-4001

info@tethys-group.com www.tethys-group.com

Corporate Logo

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/126173

COMTEX_408080721/2523/2022-06-02T01:01:22

Is there a problem with this press release? Contact the source provider Comtex at editorial@comtex.com. You can also contact MarketWatch Customer Service via our Customer Center.

copyright (c) newsfile corp. 2022. all rights reserved

/zigman2/quotes/209088915/delayed
CA : Canada: TSX Venture
$ 0.80
0.00 0.00%
Volume: 3,000
Aug. 5, 2022 10:57a
P/E Ratio
27.78
Dividend Yield
N/A
Market Cap
$86.04 million
Rev. per Employee
N/A
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