Tethys Petroleum: Board Change
Grand Cayman, Cayman Islands--(Newsfile Corp. - February 5, 2020) - Tethys Petroleum Limited (TSXV: TPL.H) ("Tethys" or the "Company") today announces that Medgat Kumar has tendered his resignation from the Board of Directors of the Company (the "Board") which will take place with immediate effect. Mr. Kumar has informed the Company that he is optimistic for the long-term future of Tethys and that his resignation is tied to the recent sale of family owned shares in Tethys to generate funds for other projects his family intends to pursue. He has confirmed that there are no problems he is aware of which need to be brought to the Company's attention.
The Board wishes to express its appreciation to Medgat for his support and help, since his appointment to the Board in January 2017, in transitioning Tethys through a challenging period to a much more favorable position and wishes him well for the future.
Consideration is being given by the Board to appointing a new director as a replacement for Mr. Kumar and an announcement will be made in due course if an appointment is made.
Tethys is focused on oil and gas exploration and production activities in Central Asia and the Caspian Region. This highly prolific oil and gas area is rapidly developing, and Tethys believes that significant potential exists in both exploration and in discovered deposits.
No part of this announcement constitutes, or shall be taken to constitute, an invitation or inducement to invest in the Company or any other entity. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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