OLISOL Petroleum Limited: Olisol Petroleum Press Release: Olisol's Response to Tethys Petroleum Press Release dated November 14, 2017

HONG KONG, 2017-11-17 22:30 CET (GLOBE NEWSWIRE) --
OLISOL Petroleum (hereinafter - Olisol) today announces that it acknowledges
Tethys Petroleum (hereinafter - TPL) press release with its Q3 financial
results dated November 14, 2017. 

Taking into account Olisol's experience in oil and gas market of Russia,
Kazakhstan and Central Asia in general, and taking into account the market
trends in terms of current internal petroleum and diesel prices, in Olisol's
opinion, the price stated in TPL's financial results ($7.66 per barrel or $59
per tonne) is set too low and does not correspond to the oil price TAG can
have. 

According to the report by Argus Caspian Market agency (issue 10, #44 dated
November 15, 2017), the average oil price at Kazakhstani refineries is $568 per
tonne of 92 RON, $492 per 1 tonne of summer diesel fuel and $208 per 1 tonne of
naphtha oil. 

A 12% increase in oil price mentioned in TPL's report does not reflect the
dynamics at oil and petrochemicals market and current fair oil price at
Kazakhstani internal market. 

Since January of 2017, TPL's subsidiary, TethysAralGas LLP (TAG) sells oil only
to two companies - PRAX-AK (from January to June of 2017) and Petroleum Treid
LTD (from June till present time) with which it signed long-term oil supply
agreement. Both of these companies relate to one of TPL's shareholders - Medgat
Kumar, who bought 43 951 698 shares for $0,01593 per share in November, 2016.
The total price of stock of shares made $700 151. 

Also, Olisol believes that the share issue for Jin Guang and Prax PTE Ltd in
November, 2016 was performed without the permission of competent authority and
when the shares were issued no proper notice was send to the Kazakhstani
competent authority on shares issue according to the legislation of the
Republic of Kazakhstan. 

About Olisol

Olisol is headquartered in Almaty, Kazakhstan and its subsidiaries and
affiliates have investments in energy and oil and gas operations in the Russian
Federation and Kazakhstan. Olisol has worked with Tethys in Kazakhstan for over
seven years, is a joint owner of the Aral Oil Terminal with Tethys and has its
own fleet of special oil trucks involved in oil transportation from Tethys' oil
fields. Olisol, through its affiliates, is engaged in railroad transportation,
processing of oil, storage and sale of oil products. 

Disclaimer

Some of the statements in this press release are forward-looking. When used in
this document, the words "expects," "believes," "anticipates," "plans," "may,"
"will," "intends", "should" and similar expressions, and the negatives thereof,
are intended to identify forward-looking statements. Such statements are not
promises or guarantees, and are subject to risks and uncertainties that could
cause actual outcomes to differ materially from those suggested by any such
statements including risks and uncertainties with respect to the foregoing. No
part of this announcement constitutes, or shall be taken to constitute, an
invitation or inducement to invest in the Olisol, TPL or any other entity, and
shareholders of TPL, are cautioned not to place undue reliance on the
forward-looking statements. Save as required by applicable law, Olisol does not
undertake to update or change any forward-looking statements to reflect events
occurring after the date of this announcement. 

Authorized Point of Contact:

Darya Klimova
Authorized Representative,
OLISOL Petroleum Limited
Tel.: [phone]
[e-mail]