Speculation on Hong Kong Secondary Listing

November 17, 2009

ST. PETER PORT, GUERNSEY, Nov 17, 2009 (MARKETWIRE via COMTEX) — Tethys Petroleum Limited (“Tethys” or the “Company”)(TSX: TPL) today commented on market speculation relating to a possible listing of the Company’s ordinary shares on the main board of the Hong Kong Stock Exchange (“HKEx”).

The Company confirms that it has submitted a Form A1 listing application to the HKEx with respect to a planned possible secondary listing of its ordinary shares on the main board of the HKEx estimated to be sometime in the first half of 2010. No definite timetable nor the amount of any placement has yet been finalised and there is no guarantee that the Company’s application will be successful.

Tethys is focused on oil and gas exploration and production activities in Central Asia with activities currently in the Republics of Tajikistan, Kazakhstan and Uzbekistan. 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 release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities of the Company.

See our Annual Information Form for the year ended December 31, 2008 and other filings for a description of risks and uncertainties relevant to our business including our exploration and development activities.

Tethys Petroleum Limited
Sabin Rossi
Vice President Investor Relations
416 572 2065
416 572 2201 (FAX)

In Kazakhstan
PG Communications
Ardak Akanov, Managing Director
Office phone/fax: +7 (727) 272 8867, +7 (727) 272 8237,
+7 (727) 272 7745

In Asia-Pacific
Quam IR
Anita Wan, Associate Director
+(852) 2217 2687
+(852) 2319 1676 (FAX)

SOURCE: Tethys Petroleum Limited