GRAND CAYMAN, CAYMAN ISLANDS--(Marketwire - Sept. 10, 2012) - Tethys Petroleum Limited (TSX:TPL)(LSE:TPL) today announced that Dr. David Robson has been re-appointed as Executive Chairman and President of the Company with Julian Hammond remaining as Chief Executive Officer ("CEO").
The Company announced on 30th July 2012 that Dr. David Robson, previously Executive Chairman, President and Chief Executive Officer, was unable to continue in his roles due to health reasons, however, Tethys is delighted to announce that Dr. Robson has made an excellent recovery from his illness and is now resuming executive duties with the Company.
At the time of Dr. Robson's illness, Julian Hammond was appointed Chief Executive Officer and President and the Rt. Hon Peter Lilley M.P. was appointed as Non Executive Chairman. Julian Hammond will continue in the role of Chief Executive Officer and Peter Lilley will resume his role as Vice Chairman and Senior Independent Non-Executive Director.
Julian Hammond, CEO of Tethys, said:
"The Board is delighted that David has made such a speedy recovery from the illness that forced him to stand down from his roles earlier this year. That he is able to return to the Company to resume his duties is a very positive development and I look forward to working with him going forward."
Dr. David Robson, Executive Chairman and President of Tethys, commented:
"I am extremely pleased to be resuming my duties with the Company and working with Julian and the other members of the senior management team to move Tethys forward successfully. We have a very exciting period coming up with further drilling in Kazakhstan, exploration in Tajikistan and our new field in Uzbekistan and I am looking forward to further success and to delivering value for the stakeholders of Tethys."
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.
This press release contains "forward-looking information" which may include, but is not limited to, statements with respect to our operations. Such forward-looking statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions. See our Annual Information Form for the year ended December 31, 2011 for a description of risks and uncertainties relevant to our business, including our exploration activities (which are incorporated herein by reference). The "forward looking statements" contained herein speak only as of the date of this press release and, unless required by applicable law, the Company undertakes no obligation to publicly update or revise such information, whether as a result of new information, future events or otherwise.