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Tethys Petroleum Provides Kazakhstan Oil Transportation Update

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Tethys Petroleum Limited (TPL.TO) today provided an update on oil transportation and sales in Kazakhstan.

it said: "Due to extremely adverse winter weather conditions, part of the road along which the oil is trucked has been temporarily closed by the Kazakh authorities. This is the northern section of the route from Shalkar to Emba, which passes through the Mugodzhar Hills, a highland area more prone to snow drifts. It is expected that trucking to Emba will resume once the weather conditions improve which is forecast to be soon. To date December oil production loaded to trucks has averaged 1,860 barrels of oil per day.

"The southern section of the route, from the Doris field production facilities to Shalkar, the site where Tethys and its partner are completing a new oil rail-loading terminal, is still open, this section of the road being flatter and less affected by such weather. The rail terminal is in the final stages of completion following extremely cold weather, which affected completion of essential concrete works and it is expected that this will be finished in one month's time. At that time production and sales are anticipated to double to approximately 4,000 bopd."

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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