TORONTO, Sept. 23, 2026 (GLOBE NEWSWIRE) — Gazexport Limited (“Gazexport” or the “Company”), a shareholder holding 17,536,296 ordinary shares of Tethys Petroleum Limited, representing approximately 15.27% of the Company’s outstanding common shares, has nominated two experienced international energy professionals, Douglas John Lamb and Piers Johnson, for election to the Board of Directors of Tethys at the Company’s Annual General Meeting on September 29, 2026.
Gazexport is proposing the nominees to strengthen the Board’s expertise in international financing, capital allocation and the technical development of Tethys’ petroleum assets. The two nominees bring complementary expertise in these areas, with Douglas John Lamb providing extensive experience in energy finance, capital raising and corporate transactions, and Piers Johnson bringing more than four decades of petroleum and reservoir engineering experience.
Douglas John Lamb is a senior energy finance and corporate finance executive with 25 years of experience across energy, infrastructure, power, oil and gas, structured commodity finance and emerging and frontier markets. He has raised and structured more than US$50 billion of debt financing and deployed or advised on more than US$3 billion of equity. His experience includes reserve-based lending, project finance, acquisition finance, corporate finance, capital markets and treasury management. His recent work has included upstream oil and gas and infrastructure mandates across Kazakhstan and other emerging and frontier markets. Mr. Lamb has also led significant financing and acquisition transactions, including a US$4.5 billion capital raising programme at NEO Energy and a US$3.5 billion reserve-based lending facility syndicated to 17 international banks. In his current role, he has originated and executed upstream oil and gas and infrastructure mandates across Kazakhstan, Angola, Romania, Albania, Brazil, Egypt and Nigeria.
Piers Johnson is a petroleum and reservoir engineering specialist and Managing Director of Oilfield Production Consultants (OPC) Limited, a petroleum and reservoir engineering consultancy. He has more than four decades of industry experience covering well testing, reservoir characterisation, reserve estimation, field development planning, project valuation and petroleum engineering studies. He has worked with and provided services to major international energy companies, including BP, BHP Billiton, Noble Energy and others. Mr. Johnson has substantial experience in Kazakhstan and the wider region. He led reserves estimation and audit work for CanArgo’s operations in Kazakhstan and Georgia, and was involved in Kazakhstan gas-field development planning and test planning that contributed to the successful development and production of commercial gas.
The Company believes that the nominees’ experience is complementary and directly relevant to the Board-level oversight of Tethys’ business. Mr. Lamb brings extensive experience in securing and structuring capital, corporate finance, reserve-based lending, acquisitions and financial risk management, while Mr. Johnson brings deep technical expertise in reservoir engineering, reserves evaluation, field development and petroleum asset assessment.
Their combined financial, commercial and technical experience is directly relevant to Tethys’ strategic and operational priorities. Gazexport believes this combination can support informed consideration of financing opportunities, capital allocation, technical assessment and the continued development and commercialisation of Tethys’ oil and gas assets in Kazakhstan.
Gazexport intends its nominations to contribute to a constructive and professional dialogue concerning the Company’s strategy, financing and operational development, with a focus on the long-term interests of Tethys and its shareholders.
About Gazexport Limited
Gazexport Limited is a shareholder of Tethys Petroleum Limited. The Company invests in oil and gas projects in Central Asia and is also engaged in oil and petroleum product trading and transportation.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of applicable securities laws. Such statements reflect current expectations, estimates, assumptions, and projections of the Company and involve known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied in such statements.
Forward-looking statements in this release include, but are not limited to, statements regarding estimated reserves, potential future revenues, legal assessments, shareholder impact, and possible regulatory or legal actions. Readers are cautioned not to place undue reliance on such statements.
For further information, please contact:
www.gazexport.com
info@gazexport.com
