Tethys Petroleum Limited reports a new gas discovery with the results of the Akkulka AKK13 exploration well in Kazakhstan.

• The AKK13 well was drilled some 3.6 miles (5.7 km) north-west of AKK12 to a total depth of 1.910 feet (582 metres). The well was perforated over a 20 feet (6 metre) interval between 1,621 and 1,641 feet RKB (494-500 metres RKB).

• Stabilised flow rates from AKK13 have been calculated at some 4.036 million cubic feet (MMcf) (114.27 thousand cubic metres (Mcm)) of gas per day on a 60/64ths inch (24 mm) choke with a flowing tubing head pressure of 154 psig (10.5 atmospheres).

• The production zone is analogous to the neighbouring Kyzyloi field and the recent AKK09 and AKK11 discoveries. The AKK13 accumulation is a separate accumulation similar to the one discovered by the AKK11 well.

• The total aggregate gas flow rate of the Akkulka exploration wells drilled by Tethys to date is now 44.8 MMcf/d (1.27 MMcm/d).

• The rig is now being mobilized to the AKK14 location to the east of AKK13.

• Tethys recently completed a 35 mile (56 km) pipeline and associated compression plant, connecting Tethys’ Kyzyloi Gas Field to the Bukhara-Urals trunkline, one of Central Asia’s major export trunklines. The Akkulka discoveries will also be tied into this pipeline once additional compression is installed, this anticipated to be in Q4 2008.

• Gas production commenced from the Kyzyloi Gas Field on December 19, 2007. An initial two month run-in period has now been agreed with the gas buyer in order to optimise and adjust the compressors and the input pressures to the Bukhara-Urals. Average rates during this run-in period are planned to be approximately 17.6 MMcf/d (500 MCM/d). To date a maximum flow rate of some 26.7 MMcf/d (757 MCM/d) has been achieved into the Bukhara-Urals trunkline.

Tags: Tethys Petroleum Limited