Tethys is focused on oil and gas exploration and production activities in Central Asia with activities currently in the Republic of Kazakhstan and more recently the Republic of Tajikistan.  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 fits the Tethys strategy to seek out large exploration acreage in relatively under-explored basins that offer large potential upside, combined with proven oil and gas projects that offer early cash flow.  In Kazakhstan its current development and exploration assets are located close to the Aral Sea in western Kazakhstan adjacent to the prolific Pre-Caspian basin. In Tajikistan Tethys is currently negotiating a Production Sharing Contract for the Kulob Area in the south-west of the country.

With excellent relationships in Western Kazakhstan, a strong executive management team, and an operational team both of local and international specialists, Tethys is well positioned to develop its current asset base and pursue new opportunities. Such projects will include oil and gas field development projects, appraisal projects and exploration for potentially giant fields. 

Tethys currently has interests in the proven gas field Kyzyloi  and the Akkulka and Greater Akkulka exploration areas. It also recently reached agrement to acquire rights to the Aral Vostochniy Exploration Area - all in western Kazakhstan.

Tethys expects production to commence on the Kyzyloi gas field in 2007 which will provide immediate cash flow with potential to increase production quickly through the tie-in of several recent successful exploration wells drilled by Tethys. Within the exploration area recent seismic re-interpretation has indicated that there are several large prospective oil and/or condensate targets at deeper levels which provides for exciting upside in an area close to prolific fields producing from the same geological formations.