Tethys Petroleum Ltd. - 2010-10-11

Plans to issue a maximum of approximately 70.6 million ordinary shares at a price of C$1.45 per share, for total maximum gross proceeds of US$100 million. The net proceeds are intended to be used to fund work on the company's existing properties in Kazakhstan, Uzbekistan and Tajikistan, and for working capital and general purposes. The aim of the offering is to provide funding for near-term production, development and appraisal activities in the Caspian region, to further expand the company's oil development in Kazakhstan, and to acquire additional data to potentially enhance the value of its exploration assets. Fraser Mackenzie Ltd., Renaissance Capital and Quam Capital are joint lead managers in a syndicate of agents that includes FirstEnergy Capital Corp.