DUSHANBE, TAJIKISTAN (Marketwire - June 9, 2011) – Tethys Petroleum Limited (TSX:TPL) today announced a further update on the East Olimtoi EOL09 exploration well in south-western Tajikistan.

Electric logs have now been run in the well over the Alai interval (a secondary target) which, as previously announced produced live oil and gas to surface whilst drilling and showing high formation pressures. The electric logs have confirmed the probable presence of moveable hydrocarbons in the interval from 3,341 to 3,500 m. Independent petrophysical interpretation indicates up to 32 m of net hydrocarbon bearing pay in the section with porosities of up to 17%. No oil-water contact is interpreted in this section of the well. The potential closure covers an area of over 10 km² in the East Olimtoi prospect alone.

The well is currently drilling ahead at a depth of 3,544 m in the Suzak shale which separates the Alai from the Bukhara limestone. Depending on formation pressures it is planned to set 7" casing at the base of the Suzak Shale prior to drilling through the Bukhara. It is planned to conduct production testing on all zones of interest after the drilling has been completed in approximately 3-4 weeks.

The mapping shows three additional structures around the salt piercement that could be drilled following completion of the EOL09 well. There are also similar prospective structures in the area.

Tethys is focused on oil and gas exploration and production activities in Central Asia with activities currently in the Republics of Kazakhstan, Tajikistan and Uzbekistan. This highly prolific oil and gas area is rapidly developing and Tethys believes that significant potential exists in both exploration and in discovered deposits.