Tethys completes Tajikistan Acquisition

22 December 2011: Tethys Petroleum Limited (Tethys) has completed the purchase of 34 per cent of the shares in Seven Stars Energy Corporation from its Tajik joint venture partner Sangam Limited, and increased its shareholding to 85 per cent from 51 per cent. Seven Stars Energy Corporation is the owner of the rights to the Bokhtar Production Sharing Contract (“Bokhtar PSC”) in Tajikistan.

1.14 Billion barrels oil equivalent (7 TCF) audited unrisked Prospective Resources are contained within the Contract Area. Excellent commercial terms fixed under a 25‐year Production Sharing Contract. Ongoing data acquisition in final stages with ultimate goal to drill the first deep presalt exploration well in the near future

Source: Yourindustrynews