Tethys Share Discussion Threads

[dorset64] 13/10/2016 11:24

Exactly my thoughts casual, why would Olisol want or need to release the news that they have put further monies into Tethys, and in doing so a 'back handed' confirmation that they will complete with the overall placing.

I have heard that TPL were also seeking 'other' funding opportunities with other companies and, it might be but only a guess, they were getting close to a deal elsewhere and Olisol felt the need to release this bit of news.

The most striking bit of news in the release for me is that they themselves added a snippet solely to reassure us investors, in that they state that they would start to monetise 'their' assets.

For me there is no reason to say such a thing other than to get people 'on their side' as to confirm to them that they are serious about completing as well as turning Tethys into a profitable company through 2017.

All interesting stuff and with such releases, especially when done in this manner by someone who does not have to release a thing to the market, more is said by what is NOT in the release, rather than what they can openly say. Just my thoughts.

[casual47] 13/10/2016 11:05

There's nothing really new/newsworthy in Olisol's release, so an RNS is not needed. It's just confirming the info in the RNS that Tethys released before and that the approvals to extend the September deadline for the placing are in.

What's curious is that Olisol has decided to release this update. Why? Do they mean to reassure PIs? Or another party?

[temporarily insane] 13/10/2016 09:52

Now, shouldnt the slackers at Tethys be providing an RNS to the market saying the same as the one from Olisol?


Its not as if its different people on the damn Board of Directors, unless that is that they need to keep the share price stagnant for some unusual reason.




Come on Tethys BOD pull your finger out, its not as if you have been rushed off your feet for the past year!!!!!!!!!!!!!!!!!!!!!!!!

[eringael] 13/10/2016 09:01

Do we expect an uplift in our current depressingly depressed share price upon completion of the Oilsol transaction!!

[hguess16] 13/10/2016 09:00

PI, Thanks for the find, Well done !.

[hguess16] 13/10/2016 08:58

Tethys KAZ Gas prospects are taken from 2013 presentation:
Gas Contracts - Kyzyloi Production Contract
- Akkulka Production Contract
2 Gas well workovers planned
Up to 5 new shallow gas wells to be drilled on Akkulka Block
Kalypso gas condensate- well to be stimulated and tested in Q4 2013 - major stimulation planned of hydrocarbon bearing Carboniferous limestone section.

So Tethys can decide to start with any of these listed above !.

[casual47] 13/10/2016 08:54

I wonder why Olisol, a private company, felt the need to update the market on this.

[temporarily insane] 12/10/2016 23:32

See, I dont moan all the time! LOL



I was 100% for Olisol being involved but never thought it would take so long.

As you say............Onwards and Upwards.

[casual47] 12/10/2016 23:31

Is this a typo?

"to increase gas production from Olisol's Kazakhstan production properties."

What are Olisol's Kaz production properties? Or was it typo and they meant Tethys' Kaz production properties?

[casual47] 12/10/2016 23:26

Excellent find TI. So Olisol have not yet advanced the rest of the money needed but all governmental approvals are in and Olisol is still in the game and expects completion next two weeks or so. Onwards and UPwards

[temporarily insane] 12/10/2016 22:39

Meanwhile fellow investors.......

[gaaston] 12/10/2016 20:27

TI ~ methinks you can now stop shagging this off....... Newbies will never buy into TPL with with all this foul banter day after day. I have been in since 52p and have closed my purse after the final buy @ 1.62p. Already put into a bottom drawer until
something may happen ~ even a couple of years out. Good luck everyone :)

[blueforce] 12/10/2016 16:43

Casual

Thanks for the reply on POO projection

[casual47] 12/10/2016 14:22

Imo TPL being able to export via the Chinese pipeline will blow any added value provided by Olisol out of the water, no matter how strong the Kaz side of the business may get.

[casual47] 12/10/2016 14:10

The next 10 months are crucial as the Olisol funding will just about cover G&A for the next year, maybe less. Additional funding is needed asap. Money to pay off the loans and money to use as capex to begin growing the company as otherwise this company is indeed, to quote a recent LSE poster, a zombie company.

[hguess16] 12/10/2016 13:52

Food for thought !.
What would be the value of an integrated TPL/Olisol Org ?.
PAM is hoping to recoup its own investment in TPL following the merged operations.
The value of Olisol to TPL includes its KAZ influence in overcoming any Regulatory/Finance hurdles and its distribution and refining business in addition to its acquisition of 42% of TPL shares.
PAM had no choice but to agree to Olisol's 5.4 Ccents offer which was affected by the depressed market price of TPL at the time.
Having gone through the AGR Energy and NOG nightmare scenarios of broken promises and also taking into account TPL's existing business dealings with Olisol, it is likely that PAM felt that Olisol was the more suitable partner.
I also view Olisol's " snail" pace to conclude the deal as a direct symptom of " funding difficulties" within the KAZ banking environment, based on the assumption that Olisol derives a significant amount of its revenues from KAZ in the local currency.
The fact that Olisol initially told TPL that it had a $50m facility in order to conclude the deal and that it had arranged a $10m O/D facility of which only $1m has been drawn down seems to reflect a current shortage of available funds. Hopefully this is a short term issue !.
The recent recovery in the oil price to over $50pb is also a plus.

In my view, JPM and Capital Research may have pulled out for two reasons:
1. They lost faith in TPL having been "taken for a ride" by Robson & Co.
2. TPL was a very minor investment in their fund and hence their decision to walk away instead of continuing with an uncertain future following the twists and turns with AGR and NOG.

PAM has decided to stick with TPL because Wells is determined to recoup its investment and sees an opportunity to get it with Olisol's help, albeit the " snails approach " to fulfilling its commitment.

The positive aspects of this deal are that both Wells and Abramov have put their own money and their reputations on the line to make this a success.

In the medium term - 2-5 years, it is quite possible to see TPL obtaining international funding (via a farm out or a partner) in order to proceed with its plans to drill for more oil and gas now that the oil price has moved from $30 to $50 pb and TPL, which is listed, is also integrated with Olisol, a local operator, and is considered a viable business.

[seroserio] 12/10/2016 13:42

Surely nobody believes anything GS say?

[casual47] 12/10/2016 13:23

Re. POO, the below just goes to show things don't necessarily pan out as expected -- Prize appears to go to Merrill Lynch, Morgan Stanley's forecast already now squarely punched in the eye and Goldman Sachs' forecast looking precarious:

Article posted 18th August

"Merrill Lynch, who believes oil will rally to $54 a barrel by this year-end and continue its march higher to touch $69 a barrel by June of next year."

"Goldman Sachs, which believes that oil is stuck in a range of $45 to $50 till mid-2017"

"Morgan Stanley, which has forecast crude to slip to $35 a barrel and to average only $40 a barrel in the fourth quarter of this year."