Tethys Petroleum Purchases 34% Share in Seven Stars Energy

- December 13th, 2011

Tethys Petroleum Limited (TSX:TPL) has purchased 34% of the shares in Seven Stars Energy Corporation from Sangam Limited, and raised its shareholding to 85%.

Tethys Petroleum Limited (TSX:TPL) has purchased 34% of the shares in Seven Stars Energy Corporation from Sangam Limited, and raised its shareholding to 85%.

As quoted in the press release:

  • Tethys now owns a 85% controlling interest in the Bokhtar PSC
  • 1.14 Billion barrels oil equivalent (7 TCF) audited unrisked Prospective Resources are contained within the Contract Area
  • Excellent commercial terms fixed under a 25-year Production Sharing Contract

Click here to read the Tethys Petroleum Limited (TSX:TPL) press release.

Leave a Reply