Tethys Petroleum sells 50% of its Kazakh assets to SinoHan Oil

Tethys Petroleum sells 50% + 1 stock of its Kazakh assets to SinoHan Oil and Gas Investment B. V., the subsidiary of the Chinese HanHong investment fund.

Tethys will get from the buyer $75 million as the first payment. Besides from that, the company will get the additional payments of up to $30 million in case of enlargement of oil and gas reserves by 2P category (proven and probable) in 2013 and 2014, with corrected to these years.

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