Tethys Petroleum (TSXV: TPL) provided an operational update from Kazakhstan, reporting current oil production of 330 tons per day from three wells and gas production of 200,000 m3 per day from 20 wells.
The company outlined a three-phase expansion plan including: upgrading the Central Processing Facility, doubling gas utilization capacity to 50,000 m3 per day by September 2025, and increasing oil processing capacity to 2,000 tons per day with a new gas processing plant. The GPP project is expected to take 12 months and will increase gas utilization to 150,000 m3 per day.
Additionally, Tethys completed seismic fieldwork at Diyar block and received clarification on an arbitration ruling regarding 1.4 billion KZT payment from DSFK and the cancellation of 18 million shares held by Olisol Petroleum.
Tethys Petroleum (TSXV: TPL) ha fornito un aggiornamento operativo dal Kazakistan, segnalando una produzione attuale di petrolio di 330 tonnellate al giorno da tre pozzi e una produzione di gas di 200.000 m3 al giorno da 20 pozzi.
L’azienda ha illustrato un piano di espansione in tre fasi che prevede: l’aggiornamento dell’Impianto di Lavorazione Centrale, il raddoppio della capacità di utilizzo del gas a 50.000 m3 al giorno entro settembre 2025 e l’aumento della capacità di lavorazione del petrolio a 2.000 tonnellate al giorno con un nuovo impianto di trattamento del gas. Il progetto GPP dovrebbe durare 12 mesi e porterà la capacità di utilizzo del gas a 150.000 m3 al giorno.
Inoltre, Tethys ha completato le indagini sismiche nel blocco Diyar e ha ricevuto chiarimenti su una sentenza arbitrale riguardante un pagamento di 1,4 miliardi di KZT da DSFK e l’annullamento di 18 milioni di azioni detenute da Olisol Petroleum.
Tethys Petroleum (TSXV: TPL) proporcionó una actualización operativa desde Kazajistán, reportando una producción actual de petróleo de 330 toneladas por día de tres pozos y una producción de gas de 200,000 m3 por día de 20 pozos.
La compañía detalló un plan de expansión en tres fases que incluye: la mejora de la Instalación Central de Procesamiento, duplicar la capacidad de utilización de gas a 50,000 m3 por día para septiembre de 2025, y aumentar la capacidad de procesamiento de petróleo a 2,000 toneladas por día con una nueva planta de procesamiento de gas. Se espera que el proyecto GPP tome 12 meses y aumente la utilización de gas a 150,000 m3 por día.
Además, Tethys completó trabajos sísmicos en el bloque Diyar y recibió aclaraciones sobre una resolución arbitral relacionada con un pago de 1.4 mil millones de KZT de DSFK y la cancelación de 18 millones de acciones en poder de Olisol Petroleum.
Tethys Petroleum (TSXV: TPL)는 카자흐스탄에서 운영 현황을 업데이트하며, 세 개의 유정에서 하루 330톤의 석유 생산과 20개의 유정에서 하루 200,000m3의 가스 생산을 보고했습니다.
회사는 세 단계 확장 계획을 제시했으며, 여기에는 중앙 처리 시설 업그레이드, 2025년 9월까지 가스 활용 용량을 하루 50,000m3로 두 배로 늘리는 것, 그리고 새로운 가스 처리 공장으로 석유 처리 용량을 하루 2,000톤으로 증가시키는 것이 포함됩니다. GPP 프로젝트는 12개월이 소요될 예정이며 가스 활용량을 하루 150,000m3로 늘릴 것입니다.
또한, Tethys는 Diyar 블록에서 지진 탐사 작업을 완료했으며, DSFK로부터의 1.4억 KZT 지급과 Olisol Petroleum이 보유한 1,800만 주의 취소에 관한 중재 판결에 대해 명확한 해석을 받았습니다.
Tethys Petroleum (TSXV : TPL) a fourni une mise à jour opérationnelle depuis le Kazakhstan, indiquant une production actuelle de pétrole de 330 tonnes par jour provenant de trois puits et une production de gaz de 200 000 m3 par jour provenant de 20 puits.
L’entreprise a présenté un plan d’expansion en trois phases incluant : la mise à niveau de l’installation centrale de traitement, le doublement de la capacité d’utilisation du gaz à 50 000 m3 par jour d’ici septembre 2025, et l’augmentation de la capacité de traitement du pétrole à 2 000 tonnes par jour avec une nouvelle usine de traitement du gaz. Le projet GPP devrait durer 12 mois et augmenter l’utilisation du gaz à 150 000 m3 par jour.
De plus, Tethys a achevé des travaux sismiques sur le bloc Diyar et a reçu des clarifications concernant une décision d’arbitrage relative à un paiement de 1,4 milliard de KZT de DSFK ainsi qu’à l’annulation de 18 millions d’actions détenues par Olisol Petroleum.
Tethys Petroleum (TSXV: TPL) gab ein Betriebsupdate aus Kasachstan bekannt und meldete eine aktuelle Ölproduktion von 330 Tonnen pro Tag aus drei Bohrlöchern sowie eine Gasproduktion von 200.000 m3 pro Tag aus 20 Bohrlöchern.
Das Unternehmen stellte einen dreiphasigen Expansionsplan vor, der Folgendes umfasst: die Aufrüstung der Zentralverarbeitungsanlage, die Verdopplung der Gasnutzungskapazität auf 50.000 m3 pro Tag bis September 2025 und die Erhöhung der Ölverarbeitungskapazität auf 2.000 Tonnen pro Tag durch eine neue Gasverarbeitungsanlage. Das GPP-Projekt soll 12 Monate dauern und die Gasnutzung auf 150.000 m3 pro Tag steigern.
Zusätzlich hat Tethys seismische Feldarbeiten im Diyar-Block abgeschlossen und Klarstellungen zu einem Schiedsspruch bezüglich einer 1,4 Milliarden KZT Zahlung von DSFK sowie der Stornierung von 18 Millionen Aktien, die von Olisol Petroleum gehalten werden, erhalten.
Positive
Current oil production at 330 tons per day from three wells
Gas production of 200,000 m3 per day from 20 wells
Planned expansion to increase oil processing capacity to 2,000 tons per day
Favorable arbitration ruling for 1.4 billion KZT payment and share cancellation
Completion of seismic fieldwork at Diyar block
Negative
Legal challenges from DSFK and Olisol to set aside Court’s order
12-month timeline for GPP project implementation indicates delayed benefits
07/25/2025 – 06:21 PM
Corporate update
Grand Cayman, Cayman Islands–(Newsfile Corp. – July 25, 2025) – Tethys Petroleum Limited (TSXV: TPL) (“Tethys” or the “Company”) is pleased to provide an update on the Company’s operations in the Republic of Kazakhstan.
Operations update
Oil production is continuing from wells KBD-02, KBD-06, and KBD-07 at an average rate of about 300 tons per day over the last month, and 330 tons per day over the last week. Gas production has been averaging about 200,000 m3 per day from 20 wells.
The Company is going to execute phase II construction work in the Central Processing Facility of the Kul-Bas Oil Field to upgrade the oil processing and storage capacity. The company also plans to increase the current gas utilization capacity of 25,000 m3 per day up to 50,000 m3 per day through a gas turbine power system after installing the 2nd gas compressor in Sep 2025. Phase III is intended to increasing the oil processing and storage capacity for handling up to 2,000 tons per day after the installation of a gas processing plant (GPP). The Company has concluded an inspection of a GPP, and signed a contract for the purchase and construction of the GPP. This GPP will process and treat the associated gas and should increase the gas utilization capacity up to 150,000 m3 per day. The project timeline is estimated to be approximately 12 months.
Seismic fieldwork at the Diyar block has been completed, and processing and interpretation of the data is underway. The Company is considering its options for the Nurzhau exploration block.
The Company had previously reported that an arbitration ruling has been made on May 13, 2025 ordering DSFK to pay the Company approximately 1.4 billion KZT and for 18 million shares of the Company held by Olisol Petroleum Limited to be cancelled. We submitted an application of the interpretation of the award and received a ruling from the arbitrator amending the language to clarify that Tethys has the authority to cancel the 18 million shares. There have been also applications made to set aside the Court’s order by DSFK and Olisol.
About Tethys
Tethys is focused on oil and gas exploration and production activities in Central Asia and the Caspian Region.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/260205
FAQ
Tethys currently produces 330 tons of oil per day from three wells (KBD-02, KBD-06, and KBD-07) and 200,000 m3 of gas per day from 20 wells.
Tethys plans a three-phase expansion including upgrading the Central Processing Facility, increasing gas utilization to 50,000 m3 per day by September 2025, and expanding oil processing capacity to 2,000 tons per day with a new gas processing plant.
An arbitration ruling ordered DSFK to pay 1.4 billion KZT and authorized Tethys to cancel 18 million shares held by Olisol Petroleum, though both parties have filed applications to set aside the Court’s order.
The new gas processing plant project has an estimated timeline of 12 months and will increase gas utilization capacity to 150,000 m3 per day upon completion.
Tethys has completed seismic fieldwork at the Diyar block with data processing and interpretation underway, and is considering options for the Nurzhau exploration block.