Tethys Kazakhstan Update - Extension on HanHong Deal
November 03 2014 - 2:00AM
UK Regulatory
TIDMTPL
Kazakhstan Update - Extension on HanHong Deal
FOR: TETHYS PETROLEUM LIMITED
TSX, LSE SYMBOL: TPL
October 31, 2014
Tethys Petroleum Limited: Kazakhstan Update - Extension on HanHong Deal
ALMATY, KAZAKHSTAN--(Marketwired - Oct. 31, 2014) - Tethys Petroleum Limited ("Tethys" or "the Company"
(TSX:TPL) (LSE:TPL)) today provided an update on the sale of 50% (+ 1 share) of Tethys Kazakhstan S.A to
SinoHan Oil and Gas Investment 6 B.V. ("SinoHan"), part of HanHong, a Beijing, PRC based private equity fund.
This deal is based upon USD75 million for the 50% (+ 1 share) interest.
Tethys has today entered into an agreement with HanHong to extend the one-year longstop date for completing the
sale by a period of six months, until 1 May 2015. This extension keeps the current agreement in place while
discussions continue with the Kazakh State.
Tethys is focused on oil and gas exploration and production activities in Central Asia and the Caspian Region.
This highly prolific oil and gas area is rapidly developing and Tethys believes that significant potential
exists in both exploration and in discovered deposits.
This press release contains "forward-looking information" which may include, but is not limited to, the
anticipation that this correspondence may lead to the Kazakh State deciding to waive its pre-emptive right in
respect of the sale or provide any other approvals required in connection with the sale or the sale to SinoHan
being completed before the extended longstop date. There can be no assurance that the Kazakh State will
determine to waive its pre-emptive right or provide any other approvals required in connection with the sale
and there can be no certainty that the sale to SinoHan will be completed before the extended longstop date or
thereafter. Such forward-looking statements reflect our current views with respect to future events. See our
Annual Information Form for the year ended December 31, 2013 for a description of risks and uncertainties
relevant to our business, including our exploration activities. The "forward looking statements" contained
herein speak only as of the date of this press release and, unless required by applicable law, the Company
undertakes no obligation to publicly update or revise such information, whether as a result of new information,
future events or otherwise.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Tethys Petroleum Limited
Sabin Rossi
Vice President Investor Relations
srossi@tethyspetroleum.com
OR
Media / IR Enquiries
Asia Pacific
Quam IR:
Anita Wan
+852 2217 2999
OR
info@tethyspetroleum.com
Web: http://www.tethyspetroleum.com
Twitter: https://twitter.com/tethyspetroleum
Tethys Petroleum Limited
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