Tethys Petroleum Limited (TSX: TPL) has completed its joint venture related to its Tajik projects. The company's interests in Tajikistan have now been transferred to its joint venture company, Seven Stars Energy Corporation (SSEC). The completion of this deal had been waiting upon the resolution of specific commercial and business issues which have now been resolved. Tethys holds a 51% interest in SSEC with its Tajik partner holding the remaining 49%. SSEC will be managed by Tethys in accordance with the terms of a shareholders' agreement between both parties.
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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.
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