Tethys Petroleum Limited: Kazakhstan Oil Production Project Approved

Tethys Petroleum Limited (TSX:TPL) announces it had received approval for the Doris oil pilot production project and updates on its operations and forward drilling plans in Kazakhstan.

The press release is quoted as saying:

TethysAralGaz (“TAG”), the Company’s wholly owned Kazakh subsidiary, has received State approval from The Ministry of Oil and Gas (“MOG”) for the Pilot production project for the Doris oil discovery on the Akkulka field. This approval grants the right for oil production on the Akkulka field during the exploration period and allows the Company to install and operate production facilities for the planned 3,000-4,000 bopd production target planned for the second quarter of 2011. Currently TAG is producing under Test Production at a permitted level of 750 bopd. Once the pilot program is completed the relevant final reserve calculations will be submitted to The Ministry of Oil and Gas to receive a Production Contract that will allow for full field development and foreign or domestic sales. The Company is expected to apply for a Production Contract after the appraisal program for the Doris Oil discovery is complete which is forecast for the end of 2011.

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