Tethys Share Discussion Threads

[temporarily insane] 04/10/2016 14:12

Somebody is trying hard.........


Making a market my ass, manipulating the market, definitely! Just to make a change.

[casual47] 04/10/2016 12:15

Don't think the two are related. Olisol released more than $3 million while the court case was still ongoing and while the Kaz subsidiary's bank account was frozen.

There's only $1.7 million still needed -- I doubt they would have been holding back that small amount just for the court case.

IMO, TPL is most likely just waiting for the KAZ authorities to renew the permits for the placing to happen, as these and other permits expired 2nd September and after.

[loobrush] 04/10/2016 11:54

Well its looking better than it did. Court case settled ,I expect oilsil now happy to release some cash. You never know, things might start to improve quite drastically.

[casual47] 04/10/2016 11:02

IMO, and as I mentioned earlier, besides something extraordinary happening (e.g. takeover bid by 3rd party) there are only two things that can lift up the share price in a sustained fashion in the short to mid term:

1. Olisol needs to complete the deal. We are in limbo now and limbo means uncertainty. Uncertainty=depressed share price.

2. News on additional funding. Once the placing is completed the uncertainty regarding Olisol has been lifted but there is still the larger uncertainty regarding funding for drilling and TPL being a "going concern". The Olisol placing alone will not remove this uncertainty as a great deal of the money that will be raised with the placing has actually been spent already, G&A for the next 12 months alone will be around 8 million USD, there is an 8 million USD loan that matures in March next year and most of the other $22 million loans mature in summer 2017.

[temporarily insane] 04/10/2016 10:59

^^^^^^^

Good comment.

[casual47] 04/10/2016 10:45

Sorry, but BigNutter and most other posters over on Stockhouse are full of sh1t. They either have no clue or are ramping.

The court case was not a milestone, it was barely a foot note.

[casual47] 04/10/2016 10:42

Spreads, bid, offer, buys/sells are not 100% reliable.

The reason is that somebody sold and that's what the indicated spread is at that time.

But the spread isn't a real spread as you can probably buy below the mid price.

Once somebody makes a buy the spread will re-adjust accordingly.

[casual47] 03/10/2016 21:53

The rise was unwarranted so we shouldn't be surprised it ended back where it was.

At least today has given some people the chance to get out or reduce so when actual real news comes next time we may see a more confident and permanent rise.

[temporarily insane] 03/10/2016 21:44

Those crazy Canadians.............

[temporarily insane] 03/10/2016 18:36

33% movement now back to zero. Thats why I hate the corrupt manipulated TSX.

[hguess16] 03/10/2016 17:45

I do hope the balance of the O/D facility ( $9m) arranged for TPL by Olisol at the local KAZ bank comes in soon !

[temporarily insane] 03/10/2016 17:32

You guys are good. Thumbs up.

[casual47] 03/10/2016 17:29

At one point, back in 2009, Tethys was seeking a Hong Kong listing:



See also:

[casual47] 03/10/2016 17:25

While Olisol (Cyprus) has been trading since 2011, Olisol (HK) was incorporated September last year -- I wonder if specifically for the Tethys deal. If so, why Hong Kong?

[casual47] 03/10/2016 17:15

That would be assuming that Olisol can only get credit lines from within Kaz. I don't think that is necessarily the case. E.g. Tethys is incorporated in Caymans, operating in Kaz, and they got loans from Caymans, Canada, Kaz, ....

Olisol is actually two companies:

OLISOL PETROLEUM LIMITED, a corporation existing under the laws of Hong Kong, China

OLISOL INVESTMENTS LIMITED, a corporation existing under the laws of Cyprus

The HK company is the wholly owned subsidiary of the Cyprus company. It is the HK company that is doing the placing.

[hguess16] 03/10/2016 17:03

Possible reason for lack of cash flow from Olisol in the past could be due to the following reason:
Excerpt from article in April '16 from Partner/Head of Colibri Law in KAZ.
" Kazakh Banks have been downgraded and are finding it difficult to obtain international funding and are lending much less to business. Oil prices & sanctions on Russia have noticeably slowed the rate of business activity in Kaz".

Hence my earlier call on PAM to fund TPL in the near term via a share-take up in order to proceed with drilling shallow wells.

[temporarily insane] 03/10/2016 16:29

Just need Olisol to RNS that they have been to the cashpoint and away we go!

No limp excuses.

[casual47] 03/10/2016 16:24

All in all the volume today has been peanuts really. Just goes to show the potential for this to move (either way) once actual volume will get shifted

[casual47] 03/10/2016 16:11

Blast from the past -- to help remind us that there are still potential pots of gold to be accessed here:

As part of the AGR deal back in 2015 Pope was willing to chip in a total of 14 million dollars (100 million shares at C$0.19):

"Tethys Petroleum Limited (TSX:TPL)(LSE:TPL) ("Tethys" or the "Company") is pleased to announce that, further to its announcement on July 1, 2015 in relation to the strategic collaboration with AGR Energy Holdings Limited ("AGR Energy") and US$47.7 million financing (the "AGR Placing"), it has agreed with Pope Asset Management, LLC ("Pope"), the Company's largest shareholder, that Pope will subscribe for 100,000,000 new ordinary shares on substantially the same terms as the AGR Placing. The number of shares for which AGR Energy will subscribe under the AGR Placing will be reduced correspondingly to 218,003,951 new ordinary shares."

The same amount at the Olisol placing price of C$0.054 will result in about 260 million shares. If that were to happen then:

* Total shares in issue would be around 890 million shares
* Olisol would have 33%
* Pope would have 37%

If we assume $50 milion net asset value for TPL then this results in 4.37 pence per share.

[casual47] 03/10/2016 15:49

Won't be long before the top shareholders as of 1.10 will be updated on the Kase listing

[casual47] 03/10/2016 15:39

While appeal in Kaz is no longer possible Mr Mametov can still take TPL to court but it will have to be the International Court of Aribitration in London. I imagine he will have no appetite for that and he might as well just wait until the debenture matures in summer 2017.