| • | The first independent in all three Central Asian countries in the oil and gas sector |
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| • | Focused on high quality projects in proven basins in Central Asia |
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| • | Management team with over 20 years of experience in the area with a proven track record |
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| • | The portfolio offers a combination of discovered reserves to produce and provide near-term cash flow, and a large exploration portfolio for upside |
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| • | Currently gas production into major transcontinental trunk line in Kazakhstan |
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| • | Exciting new oil exploration discovery that is a potential company maker in Kazakhstan |
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| • | Further upside in exploration surrounding the oil discovery |
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| • | 25-year Production Sharing Contract for the large Bokhtar Area in Tajikistan |
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| • | Oil and gas field rehabilitation in Tajikistan to yield early cash flow |
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| • | Tajik exploration programme underway in area with very high potential |
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| • | Producing oil in Uzbekistan and introducing new production enhancement techniques |
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| • | Potential to acquire other projects in Kazakhstan, Tajikistan and Uzbekistan based on prior success and fulfilling commitments
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Tethys Petroleum Limited is an oil and gas exploration and production company currently focused on Central Asia with projects in Kazakhstan, Tajikistan and Uzbekistan. It is the only independent oil and gas company operating in all three Republics.
BeantwoordenVerwijderenTethys Petroleum is a public company with its primary listing on the main board of the Toronto Stock Exchange ("TSX") - the world's largest exchange for oil and gas companies - and with a secondary listing on the Kazakhstan Stock Exchange ("KASE") in Almaty.
Key highlights:
Oil exploration discovery in Kazakhstan tested at 6,800 barrels of oil per day
Active appraisal program in 2010 to evaluate oilfield size
Further exciting exploration prospects near to oil discovery
Existing gas production in Kazakhstan
35,000 sq. km of high potential exploration acreage in Tajikistan in world class basin
Oil production in Uzbekistan
Opportunities to acquire additional projects
Tethys Petroleum derives its name from the Tethys Ocean, which covered Central Asia and surrounding areas some 250 million years ago. Many of the rocks, which were deposited in this ocean, now contain some of the world's largest oil and gas fields in Central Asia – Tethys Petroleum's focus area. Once the Tethys Ocean closed, it created the mountain chains from the Himalayas to the Alps. Today the only parts remaining of the Tethys Ocean are the Mediterranean Sea, the Black Sea and the Caspian Sea. The Tethys Ocean was named after the mythical Greek goddess Tethys, a Titaness and sea goddess who had 3,000 children, being mother of the chief rivers of the world. Tethys is also a moon of the planet Saturn.
Kyzyloi and Akkulka Gas Development
BeantwoordenVerwijderenThe Kyzyloi and Akkulka development is one of the first dry gas developments carried out in Kazakhstan with one of the first tie-ins by a non-State company to a major gas trunkline in Central Asia. Production commenced in December 2007 (Phase 1).
Kyzyloi and Akkulka fields contain sweet (no sulphur), dry natural gas at shallow depths of up to 610 metres making for relatively low development and operating costs. The Kyzyloi and Akkulka fields are tied into the major Bukhara-Urals gas pipeline by a 56 km pipeline owned and built by the Company and with a design capacity of up to 2.0 million cubic metres per day (Mcm/d). Gas is pumped into the Bukhara-Urals trunkline at the Company's Booster Compressor Station (BCS) at 910 km on the trunkline. The BCS has recently been upgraded to take Phase 2 gas production and now consists of five separate compressor units plus continuous gas composition and flow measurement fully integrated into the Bukhara-Urals gas export system with an average production rate of 560 Mcm/d (Phase 1) with a planned average production rate of 1,200 Mcm/d (Phase 2).
Since Phase 1 commenced production, the Company has been very successful in exploring for new gas in the Akkulka area and has tested commercial gas from 11 of these wells. The first of these deposits has now been tied into the system and will comprise the Phase 2 production.
In December 2009, the Company obtained a Production Contract for Phase 2 under the Akkulka Production Contract and this is now technically ready to begin production.
Tethys engineering team based in Almaty and Aktobe have developed this project and Tethys has built a Kazakh operating team for the project based in the town of Bozoi which is bringing additional employment in this remote desert region. Tethys hopes that this project will form the base for a significant gas development project supplying Kazakh gas for both the domestic and export markets.
Doris Oil Discovery (AKD01)
BeantwoordenVerwijderenThe AKD01 is the first deep exploration well drilled under the Akkulka Exploration Contract on the Akkulka block and has tested oil at over 6,800 barrels of oil per day.
Well AKD01 encountered two oil-bearing zones, the lower zone being a an Upper Jurassic carbonate sequence at approximately 2,355 metres and an upper, lower Cretaceous sandstone, zone at approximately 2,174 metres. Oil shows were also encountered in the Triassic sequence but not tested.
Current mapping indicates that the AKD01 well is in a downdip location on the Doris prospect with approximately 56 metres of elevation updip of the well, potentially bringing the entire lower reservoir into the oil zone. The prospect covers a most likely area of roughly 60 sq. km, with some possible downdip upside potential in the upper reservoir zone. Oil quality is very good in both zones, with the lower zone having 46 degree API low sulphur crude and the upper zone 37 degree API low sulphur crude. The 180 metre vertical separation between these two reservoirs and the different oil gravities suggests that they may not have a common oil-water contact but should be able to be developed simultaneously with a dual completion. The combined flow rate of these two tests in this well was over 8,200 barrels of fluid per day.
The upper lower Cretaceous sandstone interval showed extremely good permeability (in excess of 1.7 Darcy) and a large investigated distance (in excess of 10 km) and therefore a large connected volume (some 29 million stock tank barrels). This indicates a very high quality laterally extensive reservoir. The lower carbonate zone also showed good permeability with a large investigated distance and significant connected volume. However further testing is required to confirm the lateral extent of the reservoir, although Tethys has now interpreted a similar zone in a previously drilled well over 16 km to the west.
The Company's plans for the appraisal of the Doris prospect include drilling of two appraisal wells and one contingent appraisal well, and extensive 2D and 3D seismic. The Company intends to file for a Production Contract with all work expected to be completed by March 2011. The Company has recently obtained an extension to the Exploration Contract until March 2013 to appraise this commercial discovery and for further exploration.
As well as the discovery, there is very good potential exploration in the area. Four further similar prospects have been mapped in the Akkulka and Kul-Bas block near to Doris and the results of the AKD01 well significantly improve the exploration potential of these prospects. In addition to the appraisal well, an additional exploration well will be drilled on the Akkulka Exploration block in 2010.
An independent resource report carried out in 2007 by McDaniel and Associates estimates that the Triassic and Lower Jurrasic structures in the Company's contract areas in Kazakhstan potentially contain up to 667 million Barrels of Oil Equivalent of un-risked mean prospective resources.
Bokhtar PSC Area
BeantwoordenVerwijderenTethys Petroleum's 51% owned subsidiary, Kulob Petroleum Limited, holds the first ever Production Sharing Contract in Tajikistan. This is a 25-year contract with fixed economic terms for the course of the contract. The government takes a fixed portion of production that covers all taxes, royalties and levies. This involved working closely with all levels of government and amending legislation and shows the progressive approach the Tajik government is taking to investment in the oil and gas sector.
Tethys currently maps over 130 structures at various levels within the PSC area. These are at various stages of exploration and development with an active program ongoing. The area has independently assessed mean unrisked prospective resources of over 1.1 billion barrels oil equivalent. The PSC area lies in the Afghan-Tajik basin, the eastern part of the Amu Darya basin, home of some of the world's largest gas and condensate fields. There have been major oil and gas deposits discovered in this basin in both Uzbekistan and Turkmenistan as well as to the south in Afghanistan.
The Komsomolsk 200 well (KOM200) gas appraisal well reached the top of the Jurassic sequence and flowed stable gas on an open hole. The drilling of a new well (KOM201) to the north east of KOM200 is now underway. The East Olimtoi (EOL09) exploration well located to the south west of Kulob in Southern Tajikistan just north of the Panj River, exploring a high impact target.
Tethys has also commenced oil production from the Beshtentak oil field from workovers and is expanding this production. In addition, some limited gas production has taken place from the Khoja Sartez gas field.
Huidige market cap ca 310 M CAD.
BeantwoordenVerwijderenHuidige koers ca 1,65, na een hoogste koers van bijna 4 in 2008.
Dit aandeel biedt onbeperkte kansen naar boven en heeft toch door z'n behoorlijke spreiding en huidige cashflow, relatief beperkte risico's.
Iemand die op zoek is naar een echt grote 'spuiter' in z'n olie/gas-aandelen-porto zou dit aandeel daarin kunnen opnemen.
RECENT HIGHLIGHTS
BeantwoordenVerwijderen-- Tethys recently completed a public offering for gross proceeds of US$100
million in October 2010.
-- Tethys commenced sales of oil from Kazakhstan early oil production
scheme that commenced on September 10, 2010, which is the first step in
monetising the Doris oil discovery and providing essential logistical
data to plan for the step up in production planned for Q2 2011.
(Note: According to IFRS the income generated from sales during the
test production stage is not included in the Company's production
revenue but is offset against expenditure.)
-- Memorandum of Understanding ("MOU") with the Uzbek State oil and gas
company, National Holding Company "Uzbekneftegaz" ("UNG") signed in
September 2010 to work towards assigning Tethys new fields to work on.
-- The Akkulka (Phase 2)gas contract was signed in September 2010 with Asia
Gas NG LLP at a price of US$38 per Mcm (including VAT) for sale on the
domestic market. The contract runs for a period of two years with an
average daily contract quantity for Phase 2 of approximately 500 Mcm.
Sales of Phase 2 gas did not commence until October, 2010 and is not
included in third quarter figures.
-- Production revenues in Q3 2010 from Kazakhstan and Uzbekistan sales
totalled some US$3.17 million compared to US$2.43 million in the same
period in 2009, a 30% increase. Year to date figures were now US$11.32
million in 2010 against US$5.75 million in 2009.
-- In Q3 2010 the Company recorded a net loss before taxation of US$5.89
million in the three months ended September 30, 2010 compared to a net
loss of US$3.94 million in the three months ended September 30, 2009.
-- Capital expenditure in Q3 2010, excluding the joint venture in
Tajikistan, incurred in the quarter at US$11.95 million represented a
43% increase on the US$8.33 million incurred in the same period in 2009.
This expenditure was mainly focused on the exploration and appraisal
programme to ascertain the size, potential and commerciality of the oil
discovery in Kazakhstan.
President and Chief Executive Officer - Dr David Robson
BeantwoordenVerwijderenDr Robson's career has been primarily in operating oil and gas companies. He is President and Chief Executive Officer, Tethys Petroleum Group of Companies, listed on the Toronto Stock Exchange since 2007. Tethys Petroleum Limited was formerly a wholly owned subsidiary of CanArgo Energy Corporation founded by Dr David Robson in 1997 where he served as Chairman and CEO until bringing Tethys Petroleum public. He was Chief Executive Officer and one of the founders of the London Stock Exchange listed company JKX Oil & Gas plc and prior to this he was employed in technical and commercial positions in Britoil plc, Hamilton Oil and Mobil. Trained as a geologist with a First Class B.Sc (Hons) degree in Geology and PhD in Geochemistry, Dr. Robson also holds an MBA from the University of Strathclyde.
Dr Robson has worked on oil and gas projects in the former Soviet Union since 1990 in areas such as Siberia, Sakhalin, Murmansk, and the Caspian region. He has a number of "firsts" such the establishment of the first non-state gas development project in Ukraine, the first non-state drilling in the fSU Black Sea, the first non-state exploration and development wells in Georgia and negotiation of the first EBRD loan to a private sector project in Ukraine. He is a Fellow of the Geological Society (FGS), a member of the Society of Petroleum Engineers (SPE), and Member of European Association of Geoscientists and Engineers. Dr Robson holds the Order of Honour for services to the Georgian hydrocarbon extraction industry and was made a Freeman of the ancient Georgia city of Telavi. He was formerly the Energy Sector Representative on the UK Government's East European Trade Council (EETC). Dr Robson has spoken at numerous International conferences on fSU oil, gas and energy.
Leuk om te weten is dat Tethys werkzaam is in hetzelfde 'basin', dat ook gedeeltelijk in het noorden van Afghanistan ligt en waar in het Afghaanse deel waarschijnlijk een paar miljard BOE zit.
BeantwoordenVerwijderenIs juist de regio geen GROOT risico ?
BeantwoordenVerwijderenBlijft onvoorspelbaar.
Businesscase lijkt in orde.
Trouwens Vangold nog gevolgd ?
Inmiddels CAD 0,20.
Jij meldde ergens dat ze goed bezig zijn.
Enig idee waarom bij de huidige goudprijs die koers al zo lang onder druk staat ?
Anoniem,
BeantwoordenVerwijderenvoor mijn gevoel zijn de risico's ongeveer hetzelfde als in Afrika, Zuid-Amerika en Rusland, in ieder geval kan ik me geen 'rampenstories' herinneren over dit enorm grote gebied dat zich uitstrekt over 5 landen. De CEO heeft bovendien zeer veel ervaring in dit gebied.
Over Vangold: dit aandeel is geen goud-aandeel, maar een exploratie-aandeel, binnenkort zijn booruitslagen te verwachten.
De oorzaak van vreemde koersdalingen is volgens mij bijna altijd een grote verkoper al of niet in combinatie met een emissie.
Ik heb net weer bijgekocht op 20 cent.
260 mln aandelen uitstaand geeft een market cap van 460 mln dollar.
BeantwoordenVerwijderenEchter wel 100 mln dollar aan cash. Erg interessante area play om in te spelen op de ontluikende midden-aziatische landen. Vooral Kazachstan vind ik erg mooie kans.
Vangold trouwens nu op 0.195cad. Tegenvallende boorresultaten of een op handen zijnde emissie?
BeantwoordenVerwijderenWat denk jij precies, Precies? :)
Press Release Source: Tethys Petroleum Limited On Friday May 27, 2011, 8:59 am
BeantwoordenVerwijderenDUSHANBE, TAJIKISTAN--(Marketwire - May 27, 2011) - Tethys Petroleum Limited ("Tethys" or the "Company") (TSX:TPL - News) today issued a holding statement with regard to oil being encountered in its Tajik exploration well East Olimtoi EOL09 in order to ensure all pertinent information is available to the market and the Company's stakeholders.
While drilling at a depth of 3,342 metres in sandstones of the Alai formation (a secondary target) there was a strong flow of live oil to the surface accompanied by 33% gas in the drilling mud. After closing of the blowout preventer the well was successfully stabilised and drilling operations have now recommenced.
The oil, which appears to be of medium density, flowed despite drilling with heavy mud (1.57 SG) reflecting a pressure of some 512 atmospheres (7,524 psia) in the reservoir.
The primary target for the well is the Paleogene Bukhara limestone formation and it is planned to set casing prior to entering this zone. The well is exploring an attractive salt induced structure and is planned to reach a total depth of some 3,800 metres.
The well is located in the south-east of Tethys' Contract area, south of the town of Kulob and only some 10 kilometres north-west of the Afghan border. The nearest oilfield in that region is the Beshtentak field some 75 km to the north-west which produces oil from the Bukhara limestone.
This press release is an interim release and readers should note that the interval, which produced oil, has not been fully evaluated either with wireline logs or production testing. As such there is no guarantee that this zone will produce commercial hydrocarbons when properly tested but the observed oil flow is obviously a positive indication.
Naar aanleiding van bovenstaand bericht is TPL slechts van 1,20 naar 1,25 gestegen, dit lijkt dus een mooi instapmoment in afwachting van verdere berichten over deze mogelijk grote vondst.
BeantwoordenVerwijderenBOZOI, KAZAKHSTAN--(Marketwire - July 26, 2011) - Tethys Petroleum Limited ("Tethys" or the "Company" (TSX:TPL - News; LSE:TPL - News) today announced that following acidisation its AKD05 Doris appraisal well in Kazakhstan has flowed some 2,088 barrels of fluid per day, of which 1,568 barrels per day was good quality (45 degrees API) oil. The well flowed with good surface pressures and the flow was limited by the surface facilities. Flow data indicate that the well would be capable of flowing around 3,000 barrels per day with reconfiguration of the production facilities.
BeantwoordenVerwijderenThe well is producing from the same Upper Jurassic carbonate sequence, which was also productive in the AKD01 Doris discovery well. Following reconfiguration of the surface facilities the well will be placed on long-term test production. The well is already tied into the Doris oil production facilities and the oil will be trucked for sale along with oil from the AKD01 well.
Mark Sarssam, Vice President Petroleum Development of Tethys commented, "The acidisation on the AKD05 well has proved to be very successful with a production increase of more than three times. We have a well, which has the indications of being a good oil producer from this laterally extensive carbonate reservoir. The reservoir characteristics appear good, the oil of good quality and the data from the long-term production test should give us a much better idea as to the size of this reservoir. This is a good result!"
Preparations are underway for the drilling of the next Doris appraisal well, AKD06, which should commence drilling before the end of this month.
Tethys also updated on the status of other operations in Kazakhstan. The final phase of testing of the AKD04 (Dero) is now complete having tested further thin sands primarily to gain pressure and additional reservoir data for future appraisal planning. As anticipated no commercial oil flow was obtained from these thin sands.
The Kalypso (KBD01) wildcat exploration well, which is targeting primarily a large potential structural closure at Carboniferous level, is currently at a depth of 3,354 metres and is drilling ahead. The planned total depth of this well is between 4,000 and 4,500 metres and it is expected that this will be reached in August.
BOZOI, KAZAKHSTAN--(Marketwire - Sept. 26, 2011) - Tethys Petroleum Limited ("Tethys" or the "Company") (TSX:TPL - News; LSE:TPL - News) today gave an update on the initial results of the AKD06 Doris appraisal well in Kazakhstan.
BeantwoordenVerwijderenDrilling data and wireline logs indicate oil in both the Cretaceous sandstone and Jurassic limestone reservoirs. The Cretaceous sandstone has been encountered above prognosis and at a higher elevation than in the AKD01 Doris discovery well and is of good quality with similar net pay thickness to AKD01, which flowed over 5,400 barrels of oil per day from this unit. The Jurassic limestone has also been encountered above prognosis and slightly higher than in the AKD01 well and has similar character to the recently drilled AKD05 well which flowed over 1,500 barrels of oil per day from this zone. Further analysis of these initial data is currently underway.
Production liner has now been run and cemented and this will be followed by the gathering of additional geophysical data to tie this well into the new 3D seismic dataset. The well will then be tied into the test production facility and two production tests are planned on the reservoir units. Testing will commence as soon as is practical, expected to be within the next month.
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.
BOZOI, KAZAKHSTAN--(Marketwire - Nov. 15, 2011) - Tethys Petroleum Limited ("Tethys" or the "Company") (TSX:TPL.TO - News)(LSE:TPL.TO - News) today announced that the Cretaceous sand interval on the AKD06 Doris appraisal well had tested oil at a rate of over 4,300 barrels of oil ("bopd") per day.
BeantwoordenVerwijderen"This is a very successful appraisal of the Doris discovery and once again shows the good flow potential of the Cretaceous sandstone reservoir. This is an excellent result and bodes well for the further development of Doris," commented Graham Wall, Chief Operating Officer of Tethys.
A 5 metre interval (2,165 metres to 2,170 metres) of the Cretaceous sand flowed at a rate of 4,304 bopd on a 26 mm (66/64") choke with a flowing tubing head pressure of 12.7 atmospheres (186 psi). The oil was light with a gravity of 0.8 SG (45 degrees API). Flow was restricted for safety reasons but data indicates that the absolute open flow potential is in excess of 6,000 bopd. The well is now tied into the test production facilities and further testing is planned in addition to placing the well on long-term test production.
Tethys is focused on oil and gas exploration and production activities in Central Asia with activities currently in the Republics of Kazakhstan, Tajikistan 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.
Q3 HIGHLIGHTS:
BeantwoordenVerwijderen-- The average oil and gas production per production day for the nine
months ended September 30, 2011 was 6,111 boe/d compared to 4,603 boe/d
in the same period of 2010.
-- Production revenues from Kazakhstan and Uzbekistan in the nine months
ended September 30, 2011 totalled some US$15.5 million compared to
US$11.3 million in the same period of 2010, representing a 37% increase.
-- Cash balance at September 30, 2011 was US$18.4 million compared to
US$12.9 million at September 30, 2010.
-- Net loss for the nine months to September 30, 2011 was US$17.6 million
compared to $18.4 million in the same period of 2010.
-- Capital expenditure, excluding the joint venture in Tajikistan, in the
nine months ended September 30, 2011 was US$36.8 million compared to
US$23.2 million as at September 30, 2010.
-- Total assets at September 30, 2011 were US$255.1 million compared to
US$182.1 million at September 30, 2010.
-- The Doris oil production facilities in Kazakhstan were completed and the
trucking of oil commenced from this location at a rate of over 1,500
bopd.
-- The AKD05 Kazakh appraisal well flowed at 1,568 barrels per day of good
quality (45 degrees API) oil during testing. Flow data indicate that the
well would be capable of flowing around 3,000 barrels per day with
reconfiguration of the production facilities.
-- Tethys commenced trading on the main market of the London Stock Exchange under the ticker symbol "TPL".
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commentaar: TPL heeft een productie van 6111 BOE per dag en een omzet van 15,5 miljoen in 9 maanden; ik heb niets kunnen vinden waarom de opbrengst zo laag is, hier is iets grondig mis.
De market cap is bijna 200 miljoen en dat lijkt me erg duur voor zo'n onduidelijk bedrijf, er zijn gelukkig talloze olie-aandelen te vinden die beter en/of goedkoper zijn.
Staat in de MD&A.
BeantwoordenVerwijderenDe BOEs zijn grotendeels gas en daar hebben ze een contract voor a $32 per MCM (duizend kubieke meter).
Ergens tussen Turkmenistan en mijn gasrekening gaat die prijs nog eens 25x over de kop.
Tethys Petroleum Limited: Tajikistan Resource Upgrade 27.5 Billion BOE
BeantwoordenVerwijderenPress Release: Tethys Petroleum Limited – Thu, Jul 19, 2012 2:00 AM EDT
DUSHANBE, TAJIKISTAN--(Marketwire - July 19, 2012) - Tethys Petroleum Limited ("Tethys" or "the Company") (TPL.TO)(TPL.L) is pleased to announce that it has received an updated independent Resource Report for its Tajikistan assets. These cover an area of approximately 35,000 sq. km and the estimated gross unrisked mean recoverable resources are 27.5 billion barrels of oil equivalent (BOE).
Key Points:
-- Gross unrisked mean recoverable prospective resources of 27.5 billion
barrels of oil equivalent (BOE), consisting of:
-- Gross unrisked mean recoverable prospective resources of 114 trillion
cubic feet (TCF) of gas
-- Gross unrisked mean recoverable prospective resources of 8.5 billion
barrels (Bbbls) of oil and condensate
-- Upgrade due to seismic data, gravity data acquisition and interpretation
and well data
The resource report was prepared by Gustavson Associates of the United States and has been prepared in accordance with the reporting requirements of NI 51-101 adopted by Canadian securities regulatory authorities.
Continued drilling and seismic campaign
The final stage of the seismic programme in Tajikistan will commence this summer with equipment having been mobilized and initial interpreted results expected in Q4 2012. Once complete, this interpreted seismic will help identify the location of the first deep well to be drilled by Tethys.
The initial analysis of the data from the aerial graviometry survey completed at the end of 2011 revealed several attractive prospective areas with the potential presence of very large deep sub-salt and sub-thrust prospects within the Bokhtar Production Sharing Contract ("PSC") Area. The additional seismic about to be acquired will target these areas and provide the final data in a comprehensive programme to optimally locate a deep well.
This final stage of the seismic programme will involve the acquisition of new seismic in two areas; the Vaksh valley and the Dushanbe Step. The programme has been designed to target these areas as the graviometry survey and other data have identified them to be the most likely to contain large deep prospects including potential Jurassic reefs located on the edge of likely Permian basement high features. Jurassic reefs form some of the most prolific fields in the Amu Darya basin (of which the Bokhtar PSC area forms part) and no wells have ever been drilled through the overlying salt layer in Tajikistan to date. This basin is extremely prolific containing oil, gas and condensate fields and indeed some of the world's largest gas fields are located in this basin. These data also reveal significant potential in other parts of the PSC Area, including the Kulob area, however it has been decided to focus on the Vaksh valley and the Dushanbe Step initially.
It is expected that this new seismic programme will further confirm the high potential in the Tethys PSC acreage. Tethys now owns an 85% interest in the Bokhtar PSC following the recent acquisition of an additional 34% interest from its partner in the project.
2)
BeantwoordenVerwijderenBackground: Strategy in Tajikistan
The primary strategy in Tajikistan is to complete a comprehensive geological and geophysical data gathering exercise with the intention of locating and drilling the first deep exploration well below the regional salt layer. This deep well will target very large prospective resources, as set out in the independent resource report. These prospects have never been drilled before in Tajikistan but are prolific producers from similar reservoirs in the adjacent countries including Turkmenistan.
This programme is firmly on track and consists of the following:
-- In 2008, Tethys obtained and analysed the State geophysical information
and well data of the shallower drilling that had been undertaken in the
Soviet period and compiled an extensive database, which was combined
with a regional geological model built in-house.
-- In 2009-10, Tethys designed and acquired a regional seismic programme
whereby approximately 700km of good quality seismic was obtained and
interpreted.
-- In 2011, Tethys carried out an aeromagnetic graviometry survey over more
than half of the PSC Area. These data complement the acquired seismic
data, State geophysical information and well data.
-- In 2012, following on from the results of the aeromagnetic graviometry
survey, a seismic contractor has been appointed and equipment mobilized
to commence acquisition of focused seismic data over key prospective
areas with the intention of identifying the location for the first deep
well. It is planned that Tethys' large ZJ70 drilling rig "Telesto" will
be mobilized to Tajikistan by year's end with the intention of drilling
the deep well in 2013.
Tethys also continues to exploit the shallow potential in Tajikistan with oil production from Beshtentak, deepening of the Persea exploration well and plans for further evaluation of the East Olimtoi oil discovery.
Dr David Robson, Chairman, President and Chief Executive Officer of Tethys, added:
"This hugely significant increase in our estimated resources in Tajikistan transforms our prospective resource base. I believe that these unrisked mean prospective resources are significantly greater than the estimated remaining reserves and unrisked resources in the UK North Sea(1). Geological and geophysical work undertaken has shown that Tethys is operating in a world class basin with enormous and untapped potential."
"The deep prospects being pursued in Tajikistan have 'super-giant' potential and any exploration success will be transformational for the Company. These additional seismic data will help to identify the location of the first deep, sub-salt well drilled in Tajikistan targeting extremely large prospective resources."
The references in this press release to "prospective resources" means those quantities of petroleum estimated, as of June 30th 2012, to be potentially recoverable from undiscovered accumulations by application of future development projects. Prospective resources have both an associated chance of discovery and a chance of development. There is no certainty that any portion of these resources will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of these resources.
Ik had allang afscheid genomen van Tethys, maar naar aanleiding van bovenstaand bericht, heb ik ze toch maar teruggekocht.
VerwijderenHet lijkt me dat het enorme potentieel nog lang niet in de koers verwerkt zit.
Huidige market cap ca 170 miljoen CAD.
Tethys Petroleum set to double production
BeantwoordenVerwijderen4/13/2012 10:33:16 AM | Stockhouse Editorial
Phase 2 of its Aral Oil Terminal in Kazakhstan is expected to provide additional capacity to further increase production to 5,000-6,000 bopd by the second half of 2012
Tethys Petroleum (TSX: T.TPL, Stock Forum) Friday announced it has completed the first shipment of commercial oil production through its Aral Oil Terminal at Shalkar in Kazakhstan. The oil storage and rail loading facility was built to connect the company's Doris oilfield to the Kazakh rail system.
Tethys said the Aral Oil Terminal will enable an initial doubling of production to about 4,000 bopd, as well as increase efficiency, reduce transportation costs, which should result in a higher oil price. The company expects Phase 2 to provide additional capacity to further increase production to 5,000-6,000 bopd by the second half of 2012.
"The first shipment of Doris crude oil through the Aral Oil Terminal is a milestone event for the Company enabling higher production levels, which will significantly transform the cash flow of the Company. We look forward to further drilling success this year and to steadily increasing the throughput of the terminal," said Tethys CEO and President Dr. David Robson.
Tethys Petroleum is an oil and gas exploration and production company focused on Central Asia with activities currently in the Republics of Kazakhstan, Tajikistan, and Uzbekistan. Its shares have gained 64% so far in 2012 to its current price of 85 cents.
Tethys Petroleum Ltd.
BeantwoordenVerwijderenTICKER: TPL:TSX; TPL:LSE
Visit Company Website
Tethys Petroleum Limited's strategy is to create shareholder value by building an oil and gas exploration and production company focused on oil and gas exploration and production activities in Central Asia. The company is currently active in the Republics of Kazakhstan, … read more
The information provided below is from analysts, newsletters and other contributors. Please contact the company and visit its website before making an investment decision.
Expert Analysis
Stephane Foucaud, FirstEnergy Capital (11/16/12) "We reiterate our Speculative Buy recommendation on Tethys Petroleum Ltd. with a target price increase to CA$1.40/£0.88 from CA$1.30/£0.81 following the publication of the company's Q3/12 results. While production at Doris over the quarter was behind our expectations, given railway carriage and trucking issues, these problems have now been solved and the company plans to exit 2012 with over 4,500 bbl/d production. . .upcoming visibility on potential farm-out partners in Tajikistan and on the 2013 drilling program with over 1 Bbbl P50 Prospective Resources in Kazakhstan could act as a catalyst. . .Tethys expects to achieve maximum production output of 4,500–5,000 bbl/d by year-end based on existing wells."
Stephane Foucaud, FirstEnergy Capital (10/12/12) "The current total depth is 2,585m at Tethys Petroleum Ltd.'s ADK-07 well in the Upper Jurassic sequence, with a thin, potentially oil-bearing sand having been encountered just above total depth. Drilling is now about to recommence toward a planned total depth of 2,750m in order to assess the potential hydrocarbon-bearing zones in the Upper Jurassic sand sequence. . .in the event of positive well test, this could add reserves as the water-oil contact has been found 30m deeper."
Stephane Foucaud, FirstEnergy Capital (10/12/12) "We reiterate our Speculative Buy recommendation on Tethys Petroleum Ltd. . .while the Dyna and Doris sands (the main targets) were water bearing, potential oil was encountered in the Jurassic carbonates (perceived as unlikely pre-drill) and Jurassic sands. The company is drilling ahead to estimate the size of the Jurassic sands. . .for the time being, we have excluded the 128 MMbbl prospective resources associated with Dyna from our valuation; however, a positive well test could add reserves as oil has been found 30m deeper than the previous lowest known oil in the nearby wells."
Miramgul Maralova, Halyk Finance (8/21/12) "In Q2/12, Tethys Petroleum Ltd. more than doubled revenues YoY, increased production rate to 4,000bopd, and upgraded resource estimates in Tajikistan. . .the company's revenues grew to $10.2M from $4.2M in the corresponding period last year; the revenue growth was achieved thanks to a 17.6% increase in production. With the current share price level, the market has not yet priced in the production growth (+182% QoQ), we believe."
Stephane Foucaud, FirstEnergy Capital (8/16/12) "We reiterate our Speculative Buy recommendation on Tethys Petroleum Ltd. with a target price of CA$1.70/share following the publication of the company's Q2/12 results. . .as the company prioritizes the use of its operating cash flow, the Kalypso prospect is now likely to be tested in Q1/13. . .importantly, a farm-in partner in Tajikistan could be announced by the end of 2012 and the AKD-07 well, targeting ~140 MMbbl possible reserves plus prospective resources, is due to spud next month."
Tethys Venture Expects Nod for North Sea-Size Deposit by March
BeantwoordenVerwijderenBy Aibing Guo - Jan 17, 2013 7:54 AM GMT+0100
Tethys Petroleum Ltd. (TPL) expects Tajikistan to approve its venture with Total SA (FP) and China National Petroleum Corp. this quarter, speeding up exploration in an area that may hold more oil and gas than the North Sea.
A group of executives from the three companies is holding talks with Tajikistan government officials, David Robson, executive chairman and president of London-based Tethys, said today in an interview in Hong Kong. With the funding and expertise of the partners, the pace of exploration will be accelerated, he said.
“I talked to Tajikistan’s president last week and he’s very supportive of the project,” Robson said. “The deal will put Tajikistan onto Asia’s energy map. It’s very unlikely we won’t get approval.”
The Bokhtar contract area, covering 35,000 square kilometers (13,500 square miles) at the eastern end of the Amu Darya Basin, may hold an estimated 27.5 billion barrels of oil equivalent, Tethys said in June. The deal will allow China National Petroleum to secure supplies for fueling growth in the world’s second-largest economy and provide Tethys and Total access to the biggest energy market globally.
Total, Europe’s third-biggest oil company, and China National Oil and Gas Exploration and Development Corp., a unit of state-owned CNPC, will each hold a third of the Bokhtar project. The new partners will pay about $60 million to Tethys to refund almost two-thirds of costs already incurred and will carry some of the project’s future spending.
Tethys shares fell 0.4 percent to 34.875 pence in London yesterday. Total gained 0.4 percent to 39.895 euros in Paris.
Tethys has drilled four wells in the Bokhtar block since acquiring the exploration rights in 2008 and all wells have discovered hydrocarbons, Robson said. The project is located near the Turkmenistan-China natural gas pipeline, built and operated by CNPC, China’s biggest energy producer.
Natural gas output from Tajikistan could be connected to the main pipeline and sent to China, Robson said. Tethys and its partners have also talked about building a pipeline directly though the nation’s mountainous east to China’s Xinjiang region, which would cut transmission distance by more than two-thirds.
“It really depends on how much gas we can get from the project,” Robson said.
Tajikistan’s reserves could meet China’s natural gas consumption for 25 years, according to an outside estimation, Robson said, without providing details.
Rival Bids
Tethys and CNPC made rival bids for Afghanistan’s first oilfield auction in Aug. 2011. CNPC won after agreeing to pay a 15 percent royalty and build a refinery.
The Afghanistan oilfields at the Amu Darya basin are located in the same geological zone that extends well into Turkmenistan and Uzbekistan. Although CNPC’s Afghanistan oilfields are only divided by a river from the Bokhtar development, Tethys has no plan to get involved in the CNPC project.
The concessions and royalty “are too high” in the Afghanistan project, Robson said. “I don’t think our shareholders would allow us to do things like that.”
Tethys owns other oil and gas projects in Central Asia’s Kazakhstan and Uzbekistan. The company is open to diluting stakes in those projects, although Tethys has no immediate need to raise money, Robson said.
“We’ll talk and we’ll listen, but we don’t have to rush for anything at this stage,” he said.
The cash brought in by Total and CNPC should be enough for oil and gas exploration in Tajikistan for the next two to three years, he said.
Tethys lost $16.6 million in the first nine months of 2012 because of high administrative and operation costs, the company said in a statement on Nov. 14. Average oil production from its biggest commercial oilfield, Doris field in Kazakhstan, was 2,234 barrels a day, according to the statement.