Tethys Petroleum To Raise GBP23 Million In AIM Float
Tethys Petroleum, an oil and gas exploration and production group which operates in the Republic of Kazakhstan, said Monday that it plans to issue up to 150 million Ordinary shares and float on AIM.
Upon admission the company plans to raise up to GBP23 million gross.
Currently the group holds licences for, and is the operator of, three contiguous blocks west of the Aral Sea. It is due to commence production in Spring 2007.
It is expected that dealings will start on Oct. 31.
The company’s nominated adviser is Nabarro Wells & Co. and the broker is ODL Securities.