DUSHANBE, TAJIKISTAN, Jun 18, 2010 (MARKETWIRE via COMTEX) –Tethys Petroleum Limited (“Tethys” or the “Company”) (TSX: TPL) today announced that following an appeal by the Government of Tajikistan and in line with its social commitments, Tethys’ subsidiary operating in Tajikistan, Kulob Petroleum Limited (“KPL”), has started the construction of replacement housing in the town of Kulob, Khatlon Region, South Tajikistan, to benefit the population in an area suffering from recent catastrophic flooding. Although the flooding was in the Kulob area, it has not affected Tethys’ current operations in Tajikistan.
The flooding, which occurred in early May, was reported to have killed at least 22 people, leaving another 50 missing, over 200 injured, and more than 4,000 displaced from their homes. During the first days of disaster in the Kulob area, KPL immediately responded by providing 4 tons of food as its initial aid to the flood sufferers.
KPL holds a Production Sharing Contract with the Tajik government for the area around Kulob and is producing oil from the Beshtentak field to the north of Kulob as well as carrying out seismic and exploration drilling activities.
Tethys is focused on oil and gas exploration and production activities in Central Asia with activities currently in the Republics of Kazakhstan, Tajikistan 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 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, including the risks relating to regulatory approvals and of sufficiency of the proceeds for the purposes contemplated.
See the description of risks and uncertainties and underlying factors and assumptions relevant to the offering and “forward looking information” contained herein and to the Company’s business, including its exploration and development activities, contained in the Annual Information Form dated March 31, 2010 and other corporate filings (which are incorporated herein by reference). The “forward looking statements” contained herein speak only as of the date of this press release and, unless required by applicable law, the Company undertakes no obligation to publicly update or revise such information, whether as a result of new information, future events or otherwise.
Contacts: Tethys Petroleum Limited Sabin Rossi Vice President Investor Relations +1 416 572 2065 +1 416 572 2201 (FAX) firstname.lastname@example.org www.tethyspetroleum.com In Kazakhstan PG Communications Ardak Akanov, Managing Director +7 (727) 272 8867, +7 (727) 272 8237, +7 (727) 272 7745 +7 (727) 272 8867, +7 (727) 272 8237, +7 (727) 272 7745 (FAX) email@example.com In Asia-Pacific Quam IR Anita Wan, Associate Director + (852) 2217-2999 + (852) 2217-2999 (FAX) firstname.lastname@example.org
SOURCE: Tethys Petroleum Limited