DESCRIPTION: Tethys Petroleum Limited's strategy is to create shareholder value by building an oil and gas exploration and production company focused on Central Asia in areas with substantial oil and gas potential, building on the strengths of its management team and with a mix of short-term cash flow and upside potential. Currently, the company has projects in Kazakhstan, Tajikistan and most recently Uzbekistan. Tethys is listed on the Toronto Stock Exchange in Canada and the RFCA Exchange in Almaty, Kazakhstan.
Watch a BNN interview with President and CEO Dr. David Robson (1/8/10)
The information provided below is based on the most recent information we have received from analysts, newsletters and other contributors to Streetwise Reports' The Gold Report or The Energy Report. We encourage you to visit the company's web site and call the company for more specifics on this company before you decide to invest.
"Tethys announced that work has commenced on the re-entry of the G6 well on the Akkulka Block in Kazakhstan. . .The re-entry of the G6 well will evaluate and test the Jurassic and Cretaceous zones, which were found to be oil-bearing in AKD01. There were previous indications of hydrocarbons in the well and samples of oil recovered from the well show the same API gravity as the oil recovered from the upper zone in the AKD01 well test. Reinterpretation of the G6 wireline logs also shows the possible presence of moveable hydrocarbons in the well, with the upper sandstone reservoir interval being significantly thicker than that encountered in AKD01. . .Drilling and testing of the well is anticipated to be completed by early September. . .The presence of commercial oil from the G6 well could significantly increase the potential size of the oil accumulations associated with the Doris oil discovery. We continue to rate the shares a STRONG BUY with a $2.90 target."
Karl Loomes, Proactive Investors (07/15/10)
"If asked about oil and gas bearing nations, ones thoughts naturally turn to the Middle East or perhaps America. . .there is a region, however, that is likely to be a little lower down on the list, and although not by any means ignored by producers, one that still has a lot of investment potential—the 'stans' of Central Asia. Fraught with energy supply troubles and disagreements with Russia in recent years, these countries are actively pursuing energy independence, and offer a prime environment for oil and gas producers to operate in. Tethys Petroleum is well aware of the strategic advantages these nations hold, and is currently the only independent oil and gas company with operations in three of the Central Asian Republics: Kazakhstan, Tajikistan and Uzbekistan.
The advantages to working in these three Central Asian countries are abundant. Their developing economies offer a 'resource-friendly' environment for energy and mineral producers alike, with strong political and financial support to develop in the region, and with close links for foreign companies to state-owned oil and gas companies. Although the company still has some way to go to profitability, the benefits of producing gas and oil in these Central Asian countries, coupled with the mixed portfolio of near-term cash generation and long-run exploratory prospects, leaves Tethys with the potential for a lot of value growth as production ramps up over the next few years."
Greg Chornoboy, Jennings Capital
(07/13/10)
"Mixed results in AKD-01 should be offset by Akkulka contract extension and news on three wells in Q3–Q4. Doris discovery sets up test in the G-6 well. . .If successful, this could possibly set up additional prospects along the southern edge of the Akkulka High. Results expected from three more wells by year-end. Tethys expects to start Kazakh oil production at 1,000 Bbl/d by year-end, [and] Kazakh government granted a two-year extension on the Akkulka Exploration contract. This extension will be very valuable to Tethys. We are maintaining our recommendation of SPECULATIVE BUY and our 12-month target price of C$2.50 per share."
Canaccord Capital, Morning Coffee
(06/24/10)
". . .in one of the "stans," Tethys plummeted after announcing initial results from the AKD02 (Doris) appraisal well on the Akkulka Block in Kazakhstan. Based on the interpretation of wire-line logs and core data, the company says oil has been encountered in the Jurassic carbonate sequence that proved productive in the AKD01 (Doris) discovery well drilled approximately 4 km to the southeast. However, the lower Cretaceous sand interval in this well appears to be "water" bearing, probably due to faulting between the two wells. Work is now underway on preparing for a flow test on the carbonate interval following, which it is planned to sidetrack the AKD02 well to the southeast with the aim of encountering the upper reservoir potentially within the oil-bearing zone. The company stresses that these are initial results and that they may be subject to change and modification of the interpretation once the final results of the well have been obtained. The indications of oil in the carbonate sequence do not definitively prove that the well will flow oil on test, or that any flow would be in commercial quantities. Based on current plans it is likely that the initial well test results will be available within the next month."
The Energy Report Interview with Eric Nuttall (05/20/10)
TER: What about onshore oil juniors in places that are maybe not quite as stable as Canada but still relatively stable?
EN: Tethys has had some extraordinary well results in Kazakhstan; they're also in Tajikistan and Uzbekistan. The market is highly anticipating a follow-up well from their original well. Management thinks they could be sitting on a very material oil discovery in the hundreds of millions of barrels. The geographical location of their discovery is kind of in the no man's land in Kazakhstan in terms of where it was thought you would find oil; it was thought to be a much more gas-prone area of the country. They could have an incredible material oil discovery; there have been some very large numbers thrown around, like several hundred million barrels recoverable potential. If further drilling is successful, then the company should do quite well, even though it's been a big winner over the past year.
View Entire Article: Eric Nuttall: Maximizing Oil and Gas Investments
Watch a BNN interview with President and CEO Dr. David Robson (1/8/10)
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