Tethys Petroleum Press Release: Corporate Update

Executive Summary

• Oil production averaging ~380 t/d is expected to rise to ~530 t/d after commissioning of a second gas compressor within a week.
• New gas processing and pipeline projects are in design, with targeted commissioning dates of Oct 2026 (gas facility) and mid‑Jan 2026 (central processing upgrade).
• The Special Committee continues discussions with Fincraft Group LLP regarding a non‑binding LOI to acquire Tethys; a response is pending.

Key Details

• Current Oil Production: ~380 tons per day from wells KBD‑02, KBD‑06, KBD‑07 (last month).
• Second Gas Turbine Repair: Completed; expected to boost oil‑to‑gas utilization capacity to ~480 t/d immediately.
• Second Gas Compressor Pre‑Commissioning: Ongoing; anticipated increase to ~530 t/d after start‑up within a week.
• Central Processing Facility Upgrade (Kul‑Bas Oil Field): Underway; commissioning scheduled for mid‑January 2026.
• Gas Processing Facility & 6" × 18 km Pipeline Project: At design stage; targeted operational date October 2026.
• Natural Gas Production: ~222,000 m³/day from 21 wells in Kyzyloi and Akkulka fields. Ongoing workover to reactivate suspended wells.
• Exploration Activities: Evaluation of Aral‑4 prospect ongoing; permitting & preparatory work for drilling at two priority sites; seismic interpretation for Diyar block progressing; vintage 2D seismic analysis for northern Diyar, southern Zhanasu and Nurzhau blocks continuing.
• Regulatory Submission (Nov 27 2025): Application to transition Contract No. 1897 for Kul‑Bas field to Production Period (Commercial License) submitted to Kazakhstan Ministry of Energy; statutory review period 20 working days.
• Potential Acquisition: Special Committee sent a letter to Fincraft Group LLP on Nov 26 2025 regarding their intent to acquire Tethys; awaiting response.

Notable Quotes

(No direct quotes were provided in the release.)