Tethys currently owns interests in a proven gas field, and in large exploration areas in the North Ustyurt basin of western Kazakhstan. Tethys’s main interests are held through its 100 per cent subsidiary BN Munai LLP (“BNM”), a Kazakh limited liability partnership. BNM in turn owns a 100% interest in the Kyzyloi gas field, and a 100% interest in the Akkulka exploration contract and in the Greater Akkulka exploration contract, the latter having an area of some 11,000 km2.
The current assets owned 100% by BNM (and in which the Company has a 100% interest in each case) are as follows:
The Kyzyloi Production Licence and Contract covers an area of 70,967 acres (287.2 km2), down to the base of the Palaeogene sequence.
The Akkulka Exploration Licence covers an area of 411,916 acres (1,667 km2), including the area below the Palaeogene sequence in the Kyzyloi field area Production Contract, within the Aktobe Oblast.
The Kul-Bas (Greater Akkulka) Exploration and Production Contract has an effective area (for sub-Palaeogene potential) of 2,688,695acres (10,880 km2).
In Tajikistan Tethys has the exclusive right to negotiate a Production Sharing Contract over the large Kulob Area in south-west Tajikistan.