Tethys Petroleum Limited has been granted a 2-year extension to the Kul-Bas Exploration and Production Contract (the "Contract") in Kazakhstan and also provided an update on the previously announced US$15 million convertible facility and C$25.5 million private placement with Olisol Investments Limited (Olisol).

Kul-Bas Exploration and Production Contract 2-year Extension

Tethys is pleased to announce that the Ministry of the Republic of Kazakhstan ("MOE") has agreed to extend the Appraisal Period for the Contract by a further two years until November 11, 2017.

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