Akkulka Gas Pipeline Succesfully Tested

February 09, 2009

BOZOI, KAZAKHSTAN, Feb 09, 2009 (MARKET WIRE via COMTEX) — Tethys Petroleum Limited (“Tethys” or the “Company”) (TSX: TPL) today announced that the gas pipeline system of its Akkulka gas development in Kazakhstan had been successfully tested.

The Akkulka gas development flow lines and associated tie-in to the Company’s Kyzyloi export pipeline system have now been successfully pressure tested and this completes the major fieldworks leaving only regulatory approvals with respect to this pipeline. This pipeline is the major part of the Company’s “Phase 2” development of the Kyzyloi and Akkulka gas fields in western Kazakhstan. Work has been hampered due to the very cold weather and blizzard conditions present throughout most of January. The only work that remains to complete the development is the final installation of the two additional compressors, located at the Company’s existing compressor station, to pump increased volumes of gas into the Bukhara-Urals gas trunkline. Currently the bases to hold the compressor units are being finished, this including the installation of special heaters (found necessary due to the unusually cold weather) to bring up the temperature of the bases to a level where the compressor units can be bonded to the bases successfully with epoxy resin. The current plan is to test the compressor units by the end of February following which State approval will be sought for the final commissioning of the development.

The West Kazakhstan division of the State Reserves Committee of the Republic of Kazakhstan has now approved the gas reserves for the Akkulka field and the Committee for Geology and Subsoil use has now granted permission to finalise negotiations with the Ministry of Energy and Mineral Resources for gas production from the field.

Final regulatory approval has also been obtained for production from two further wells (G12 and G16) on the Kyzyloi field, and production from this field is expected to recommence in due course.

Tethys is focused on oil and gas exploration and production activities in Central Asia with activities currently in the Republics of Kazakhstan and Tajikistan. This highly prolific oil and gas area is rapidly developing and Tethys believes that significant potential exists in both exploration and in discovered deposits.

This press release contains “forward-looking information” which may include, but is not limited to, statements with respect to our operations. Such forward looking statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions. See our Annual Information Form for the year ended December 31, 2007 for a description of risks and uncertainties relevant to our business, including our exploration activities.

Contacts:
Tethys Petroleum Limited
Sabin Rossi Vice President Investor Relations
(416) 572-2065
(416) 572-2201 (FAX)
Email: info@tethyspetroleum.com
Website: www.tethyspetroleum.com

In Kazakhstan:
PG Communications
Ardak Akanov, Managing Director
Office phone/fax: +7 (701) 272 8867
Cell: +7 701 711 5604
Email: development@pressclub.kz

SOURCE: Tethys Petroleum Limited

mailto:info@tethyspetroleum.com
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