Tethys Petroleum Kazakhstan Update

Tethys Petroleum, the oil and gas explorer focused on Central Asia, has announced that the Ministry of Oil and Gas of the Republic of Kazakhstan has agreed to extend the exploration period for the company's Kul-Bas exploration and production contract by two years until November 11, 2015.

The Kul-Bas contract area (which currently covers an area of 7,632 km2 or 1.9 million acres) surrounds the Akkulka contract area, where the company's producing oil and gas fields lie.

This extension gives Tethys further time to explore this attractive area which has several prospects and leads and with a proved commercial oil and gas system in the Akkulka block, the company says in a statement. It also notes that the Kul-Bas block contains the KBD01 (Kalypso) well which is awaiting testing later this year.