Tethys Petroleum Financial Results August 2011

Tethys Petroleum Limited today announced its second quarter results for the period ended June 30, 2011. The second quarter results together with a Management Discussion & Analysis have been filed with the Canadian securities regulatory authorities. Copies of the filed documents may be obtained via SEDAR at www.sedar.com or on Tethys’ website at www.tethyspetroleum.com. The summary financial statements are attached to this press release.

The Company reports financial results in accordance with International Financial Reporting Standards (“IFRS”).

Highlights

--  Production revenues for the six months to June 30, 2011 from Kazakhstan
    and Uzbekistan sales totalled some US$8.657 million compared to US$8.146
    million for the same period in 2010, representing a six per cent
    increase.
--  Other operating revenue was US$5.706 million compared to nil in the same
    period of 2010.
--  Net loss was US$8.991 million compared to US$11.321 million in the same
    period of 2010.
--  Capital expenditure, excluding the joint venture in Tajikistan, in the
    six months ended June 30, 2011 was US$25.686 million compared to
    US$11.759 million in the six months ended June 30, 2010.
--  The average oil and gas production per production day for the six months
    ended June 30, 2011 was 5,566 boe/d compared to 3,476 boe/d in the same
    period of 2010.
--  Total assets at June 30, 2011 were US$261.144 million compared to
    US$184.082 million at June 30, 2010.
--  Cash balance at June 30, 2011 was US$35.346 million compared to
    US$30.232 million at June 30, 2010.

These highlights along with other operational and financial details will be further discussed in a scheduled conference call. Details of the conference call can be found below:

Conference Call:

A conference call will be held at 10 AM Eastern Time on Tuesday, August 16, 2011. An operational update will be given first followed by a review of the financials. The North American conference call number is            (800) 291-5365       and the outside North America conference call number is             (617) 614-3922      . The conference call code to use is 31811593. Please call in about 10 minutes before the starting time in order to be patched into the call.

Source www.tethyspetroleum.com