Tethys Petroleum Signs Exploration MOU in Uzbekistan

Tethys Petroleum Limited announced it has signed a Memorandum of Understanding with Uzbekneftegaz for a joint study and the negotiation process for an exploration rgreement relating to certain exploration blocks in the North Ustyurt Basin of Uzbekistan.

Tethys is focused on oil and gas exploration and production activities in Central Asia with activities currently in the Republics of Kazakhstan, Tajikistan and Uzbekistan.

Ustyurt Basin is highly prolific oil and gas area and is rapidly developing and Tethys believes that significant potential exists in both exploration and in discovered deposits.