Tethys Petroleum Limited (TSE:TPL) announced that it had signed a gas sales contract which will move the Company into a position of positive operating cash flow.
Tethys Petroleum Limited (TSX:TPL) announced that it had signed a gas sales contract which will move the Company into a position of positive operating cash flow.
The press release is quoted as saying:
Tethys also gave a brief update on current operations activities in Kazakhstan. On the G6RE (Dodone) well operations are underway to secure the deeper part of the hole prior to commencing a testing programme. Different formation pressures in permeable, potentially oil bearing reservoir intervals in the deeper part of this well have resulted in operations taking more time than originally expected and it is unlikely that the testing programme will commence until sometime next month. The AKD03 (Dione) exploration well is currently at a depth of 2,823 metres (in what is interpreted to be the middle Jurassic sequence) and casing has been run.