Tethys Share Discussion Threads

[temporarily insane] 19/12/2016 12:43

On a positive note whilst we all sit here waiting for anything to happen as we have done since Bill Wells got involved...................






I think we are now out of the "fall apart stage" at long last. Only took 400 bloody days

[temporarily insane] 19/12/2016 12:40

So far, none of us here has seen any sign of this...

[hguess16] 19/12/2016 11:14

"Interesting if Olisol attends the EGM and ask questions !."
If Olisol turn up, I hope it is to mend fences with Tethys and accept a new arrangement to ensure that the new team can get on with the business of drilling oil and gas in KAZ with no further interruption !.

[casual47] 19/12/2016 11:00

Thanks D64. The EGM management circular will tell us how serious they are about trying to get support from PIs.

In a way I hope Olisol *do* show up at EGM and remain engaged shareholders -- while we know they have ulterior motives it's always good to keep the BOD on their toes, and with their 63m votes they have a louder voice than us humble PIs.

[dorset64] 19/12/2016 10:46

Casual, I've had a fair bit of correspondence but none that answers any of the Q's really, and its only my own personal thoughts, but I'm leaning towards that news could/should be forthcoming very soon regarding most of our Q's hence, with listing rules, they have clammed up on things.

They themselves would obviously know that we nor anyone else cannot place our EGM votes without firstly knowing 100% what is occurring, what the Kumars will bring to the table and how things are to be funded/CAPEX/OPEX going forward.

Their 'wider' silence at this time does not overly concern me Casual, but that's just my hunch.

[casual47] 19/12/2016 10:28

Just thinking: It would be pretty interesting if Olisol decided to attend the EGM and ask questions of the BOD.

[casual47] 19/12/2016 10:02

D64 -- any news re. response to email?

We should get another RNS soon announcing posting of EGM management circular ("Record Date for Notice : December 22, 2016")

[temporarily insane] 17/12/2016 23:19

Good response hguess16.

[hguess16] 16/12/2016 17:56

Re my previous note, the £1.4m should read $1.4m for the 88m shares !.

[hguess16] 16/12/2016 17:51

Jeez TI, how long does it take ?.
I assume that it is taking longer than a week this time for the new team to report back because agreeing a plan with the Kumars and the local KAZ bank or a new financing deal to fund the repayment of short term loans and pay for the drilling of shallow wells requires Tethys/Kumars to provide assurances for a new loan arrangement.
I imagine that the loan in excess of at least $30m might need corporate guarantees from both Tethys and the Kumars together with evidence that adequate revenues from
Tethys oil and gas income would cover the new repayments of the new loan and interest.

It is reasonable to assume that the Kumars may have agreed to arrange a new loan for Tethys and that could explain the " knock down " price they negotiated for the 18% share holding.
In other words, the Kumars get 88m shares (18%) for £1.4m in exchange for agreeing to arrange a loan for Tethys to repay short term debt and fund the drilling !.
This is my take on the NEW TEAM/Kumars deal !.
Let me remind you that Skripka, the " Ace Deal maker" from Olisol failed to conclude a $10m O/D facility with a local KAZ bank. Hence Wells/May have to ensure that the Kumars will deliver on their promise now !.
So be patient and give them a little more time !.

[temporarily insane] 15/12/2016 20:26

Admittedly the future does look a little better now that a few educated people are in charge and I salute them but you guys need to read your own web page.

[casual47] 15/12/2016 10:37

Can only agree that we need to see a credible cash plan, hopefully before EGM if they want my vote.

[rhuvaal2] 15/12/2016 10:31

I agree with that !!

[hguess16] 15/12/2016 08:25

Enough of the " muck raking" of past misdeeds and poor management !.
Let's now look ahead and expect the new team to come up with a credible cash plan to enable Tethys to proceed with the removal of short term debt and the installation of a
strategy to drill up the proved reserves and market the produce at competitive prices !.

[temporarily insane] 15/12/2016 00:45

Come on dude.......

This was your first post under naimanka74.

Were you born in the 70's????

Who would "invest" and sell the negative?????

[naimanka74] 15/12/2016 00:28

I think luck always plays a part, I see no mention of the money's outstanding being paid, did they say anything about that, it was over $3m?

Have I contacted the board, no, I still think they're clowns, been busy with another project in the area.

Gas supply contract to China is unlikely for well over a year, pipeline issues, Tethys must know that, why haven't they said?

Tethys in Robsons day....well strangely enough they picked up the license from the Presidents brother (Bolat....not Borat, BN Munai) I'm sure all above board, nothing to see here move along.

Certainly the Balaclavas are more Moscow in the early 90's than Almaty, but it does look like it was a major overreach by Olisol. I still hear that Olisol borrowed the money, so not sure what whoever lent makes of all this, I would imagine they will make an appearance at some stage though.

Emerging markets, brown envelopes, I think these days are gone, Tethys couldn't muster a decent stuffed envelope these days. In country partners, thanked in an announcement, bit unusual, like the court case, one might almost think there was something to hide?

But then again I think we already know that?

So good sales being resumed, hopefully payments as well, otherwise it wouldn't stagger on for long?

I remain very sceptical, this still doesn't add up.

[temporarily insane] 15/12/2016 00:07

naimanka is too busy being saikats twin.

[temporarily insane] 15/12/2016 00:04

serasorryia, any chance for a negative and you are pushing a negative. There is nothing left to short!!

[hguess16] 14/12/2016 20:46

Thanks Ben, This is positive !.
Provides yet another step in the upward direction for the company and PI's.

[dorset64] 14/12/2016 19:57

To be fair and thanks Benandemmiboo for posting, but this again shows that the current BoD's believes there is plenty of life left in TPL.

If they didn't believe things will work out ok for TPL, they would not be advertising for a senior position in the o. relating to future capex spend and valuations.

For me this again says things should hopefully work out well for us shareholders, in that the co. is looking ahead to a new drilling campaign. In fact I might message them and apply for the job myself!! lol

Strange how namainka's been awfully quiet since the re-newal of contract news!!! Funny that.

[seroserio] 14/12/2016 19:32

LOL! A business analyst! Nobody on the present staff who knows anything about business? Well, we're moving in the right direction then. :-)

[benandemmiboo] 14/12/2016 19:22

For those who are curious, Tethys has used Headhunter to hire a business analyst: hxxp://qyzmet.kz/viewjob?id=3462368

Duties:
performs work on accounting of fixed assets, material assets, the cost of production, the results of economic and financial activity in the information system SUN;
participates in the development and approval of accounting systems costs and coding;
conducting pre-project analysis of decisions and forms the basis of data in accordance with the requirements of the approved forms of expenditure (AFE);
participates in the inventory of material assets;
developing criteria for evaluating the effectiveness structure modeled business processes and functions;
generates a common analytical report after the analysis of business processes in the form of tables and analysis of the text comments;
preparation of economic calculations

Requirements:

knowledge of the financial, fiscal and economic legislation;
knowledge of the laws of the Republic of Kazakhstan on subsoil use;
modern information systems in the field of financial accounting and financial management, (SUN system);
the basics of system analysis and fundamentals of systems theory;
basics of business - analysis;
methodology for assessing the effectiveness of the solutions and the development of expert assessments;
organization of financial work, budgeting;

[casual47] 14/12/2016 19:21

The interest is due in cash. The principal had a conversion price of either 10 us cents or 19 CAD cents.

Also doesn't explain why they need it, and why at such a cheap price many multiples below the agreed conversion price for this debenture.

The problem for them is: this is the BOD rewarding a related party to the chairman with cheap shares. It just isn't cricket.