Tethys gets Akkulka extension

Approval: Tethys has been granted a two year extension on its Akkulka exploration contract

London-listed Tethys Petroleum has received a two year extension on its Akkulka exploration contract which contains the Doris oil discovery in Kazakhstan.

The approval from the Kazakhstan Ministry of Oil & Gas extends the exploration contract from 10 March 2013 until 10 March 2015.

“This is extremely important to the company as it gives us the potential to explore for the considerable resources which we believe exist within the large Akkulka Block as well as to further develop and appraise the Doris oilfield,” said Tethys chief executive David Robson.

Tethys said it would now focus on the AKD-07 exploration and appraisal well which is expected to spud by mid-year.

The well lies to the south-east…

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