Tethys Acquires Uzbekistan Oil Field

Tethys Petroleum Ltd. (TSX:TPL,LSE:TPL) announced that Chegara Production Ltd., its wholly-owned subsidiary, has acquired the Chegara Group of Fields in Uzbekistan.

As quoted in the press release:

The Chegara Group is an underdeveloped group of fields located 14 kilometers south-west of the existing Tethys asset of North Urtabulak, and contiguous to the prolific Urtabulak gas condensate Field, within the world-class Amu Darya Basin. The reservoirs comprise Upper Jurassic age carbonates at an approximate depth of 2,650 meters, trapped below a regionally prevalent salt and anhydrite seal. The oil is of moderate gravity and at present there are 3 producing wells all flowing naturally under reservoir pressure.

Click here to read the full Tethys Petroleum Ltd. (TSX:TPL,LSE:TPL) press release.