Kazakhstan news for September 6, 2010

In this issue:

2 Corporate news
2 PNB to acquire 64% stake in JSC Dana Bank, Kazakhstan
2 Tethys Petroleum up 3.5% on Kazakhstan operations update
2 Tau Capital buys stake in Kazakh pharma distributor
2 Upcoming events
3 Industry news
3 Pavlodar refinery net income rises in H1
3 Kazakh Ministry of Industry terminated 43 subsoil use contracts since January 2010
4 Politics and Economics
4 Kazakhstan to tighten banking controls
4 Medvedev to discuss customs union, nuclear issues in Kazakhstan
5 KASE & Market wrap
6 AFS-Research productline
7 AFS Research services

Tethys Petroleum up 3.5% on Kazakhstan operations update

Oil and gas exploration and development company Tethys Petroleum (TSE:TPL) has today announced an update on its oil exploration operations in Kazakhstan, which indicates a potential oil bearing zone in good quality Cretaceous sandstones at its AKD03 well, these being similar to the reservoir that flowed over 5,400 barrels of oil per day in the AKD01 Doris discovery well located some 10 km to the north-east, it said.
The AKD03 (Dione) exploration well is currently at a depth of 2,823 metres (in what is interpreted to be the middle Jurassic sequence) and casing has been run.
 

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