The inauguration of Aral Oil Terminal of the company Tethys petroleum limited

Aktobe, Kazakhstan. February 2. (NIAT “Khovar”).-On January 30, Tethys Petroleum Limited (“Tethys” or the “Company” (TSX:TPL) (LSE:TPL)) had announced the official inauguration of its Aral Oil Terminal (“AOT”)- a new oil storage and rail loading facility for oil shipments from the Company’s Doris oilfield into the Kazakh rail system.
The AOT is located approximately 230 km from the Doris oil field, significantly reducing the distance oil is currently trucked by road from the field. The opening of AOT will allow the Company to initially double production to approximately 4,000 barrels of oil per day (“bopd”) due to a having of the road trucking distance. Furthermore, the current rail loading point at Emba experiences bottlenecks due to overuse by many different companies; the AOT will be dedicated to Tethys oil sales. The opening of the AOT will thus reduce transportation costs significantly and will result in an increased realized oil price. The recent acquisition of additional road trucks means that 240 are now in daily operation.
To date, over 13,000 bopd have been tested exploration and appraisal wells and around the Doris accumulation. This is the first stage of AOT, and it is planned to expand the facility to 12,000 bopd in the upcoming year. In addition to a rail loading facility the terminal will provide a closer offloading point for refined oil products, equipment and materials required on the Doris exploration and appraisal program which in turn will result significant cost savings to the Company.
The AOT is owned and operated jointly through a 50:50 joint venture by Tethys and its Kazakh oil trading partner’s company, Olisol Investment Ltd. At the inauguration ceremony both Tethys and its partner were presented, together with local and regional officials. First commercial shipments through the AOT are expected in February of this year.
Tethys is focused on oil and gas exploration and production activities in Central with activities currently in the Republic of Kazakhstan, Tajikistan and Uzbekistan. This highly prolific oil and gas rapidly developing and Tethys believes, that significant potential exists in both exploration and in discovered deposits.