Tethys Petroleum Limited (“Tethys” or the “Company”) (TSX:TPL) today announced the initial results of testing on the NUR96H2 horizontal development well at the North Urtabulak field in Uzbekistan. The well has now been tested at over 1,100 barrels of oil per day (bopd) and is now being put on production.
This well reached a total depth of 3,060 metres (10,039 feet) with a producing section of 437 metres (1,434 feet) of lateral hole within this.
Tethys believes there is significant additional potential in the North Urtabulak field and is currently evaluating other targets for horizontal drilling. In addition to the North Urtabulak oil field Tethys believes it has an opportunity to acquire additional development and exploration projects in Uzbekistan, a country it regards as having great long term potential to add value to shareholders.
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.