GRAND CAYMAN, CAYMAN ISLANDS--(Marketwired - July 13, 2016) - Tethys Petroleum Limited (TSX:TPL)(LSE:TPL) ("Tethys" or the "Company") today announced the appointment of Alexander Skripka as Chief Commercial Officer.
As Chief Commercial Officer Mr. Skripka will be responsible for the commercial activities of the company including gas sales, existing and new contract or license negotiations, and negotiations on financing, divestments and acquisitions.
Mr. Skripka studied Political Science and Management, specializing in production and processing of oil and gas from I. Gubkin, the Russian State Oil & Gas University, he also has an MBA in Oil & Gas Management. Mr. Skripka worked for the Kazakh National company, "KazTransGas" JSC and has extensive management experience in several other Kazakhstan based oil and gas companies. He has actively worked with Tethys management for over six months in all aspects of the company, including gas sales, licence extension, restructuring of debt and obtaining a new loan facility from a Kazakh bank.
He is a director and shareholder of Olisol Petroleum Limited, which owns 15.8% ordinary shares of Tethys and which is a party to the Investment Agreement described in Tethys' press release dated April 29, 2016.
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.
Olisol and its subsidiaries and affiliates have investments in energy and oil & gas operations in the Russian Federation and Kazakhstan. Olisol is incorporated under the laws of Cyprus and is headquartered in Almaty, Kazakhstan.
Disclaimer – Forward Looking Statements
Some of the statements in this document are forward-looking. Forward-looking statements include statements regarding the intent, belief and current expectations of the Company or its officers. When used in this document, the words "expects," "believes," "anticipates," "plans," "may," "will," "should" and similar expressions, and the negatives thereof, are intended to identify forward-looking statements. Such statements are not promises or guarantees, and are subject to risks and uncertainties that could cause actual outcomes to differ materially from those suggested by any such statements including risks and uncertainties with respect to the development potential of both exploration and discovered deposits.
No part of this announcement constitutes, or shall be taken to constitute, an invitation or inducement to invest in the Company or any other entity, and shareholders of the Company are cautioned not to place undue reliance on the forward-looking statements. Save as required by the Listing Rules and applicable law, the Company does not undertake to update or change any forward-looking statements to reflect events occurring after the date of this announcement.