OREANDA-NEWS. February 17, 2010. Tethys Petroleum Limited, listing on Kazakhstan Stock Exchange (KASE), provided KASE with a press release, reported the press-centre of KASE:

Tethys Petroleum Limited (hereafter - 'Tethys' or 'the Company') announced on planning to offer privately 30,000,000 common shares at CAD46.5 m (hereafter - 'the Offering'), which is subject to approval by regulators. The Company received a confirmation of an order for the maximum Offering sum CAD46.5 m.

The common shares were offered at CAD1.55 a share. Company common shares are quoting on the Toronto Stock Exchange with symbol 'TPL', and the Offering must be approved by the Toronto Stock Exchange. The profit from the Offering will be used by Tethys for development of the projects and coverage of capital expenses. The Offering should be completed by March 3, 2010.

One of subscribers is an interested party of the Company, as defined by applicable Canadian laws on securities. The proposed end offering date shall be within 21 days after the statement release for purposes of timely income receipt. Additional data regarding stakes of interested parties in the Private Offering will be released in the report on substantial changes, which must be presented in accordance with the Canadian legislation on securities.

Tethys is engaged in exploration and development of oil and gas deposits in the Central Asia (Kazakhstan, Tajikistan and Uzbekistan). This oil-and-gas-rich area is being developed fast and Tethys is confident of high potential of current and developing deposits.

The press release is not an offer or a recommendation to purchase the securities. The securities have not been and will not be registered in  accordance with the USA Law on Securities (1933 as amended) (hereafter - 'the USA Securities Law') or in accordance with requirements of  the other USA laws, and can not be offered or sold in the USA or to USA  citizens, unless the securities have been registered in accordance with the USA Laws on securities and applicable laws on securities or the securities are exempt of such registration.

This press release contains 'information on prospects', which may include, not limited to, statements regarding our transactions. These statements on prospects reflect our current point of view on future events and consider definite risks, uncertainties and assumptions, including risks, related to approvals by regulators, transactions settlement and sufficiency of profits for determined goals. Description of risks and uncertainties, and underlying factors and assumptions, regarding this offer and contained therein 'information on prospects', and operation of the Company, including exploration and development of the deposits, provided in the Annual information card dated March 31, 2009.

The therein contained 'statements on prospects' were made as on the date of the press release and, unless otherwise required by the applicable legislation, the Company shall incur no responsibility on public renewal and revision of such information as a result of receipt of such information, future events or other.