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TPL Tethys

1.125
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Tethys LSE:TPL London Ordinary Share KYG876361091 ORD USD0.10
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 1.125 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Tethys Share Discussion Threads

Showing 52301 to 52324 of 63175 messages
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DateSubjectAuthorDiscuss
13/3/2017
14:00
hguess

So what/when is your best guesstimate for news here.

1)anytime this week
2)next week for sure
3)before the end of this month
4)no idea, the same as the rest of us

1399peter
13/3/2017
12:31
TI

I would imagine they are in a closed period, certainly a frigging silent one anyway.

1399peter
13/3/2017
10:41
Note to management:

BUY SOME SHARES in your own company like this lot (THOR Mining). No more pat on the back free shares until its worth it and only if the PI votes for it to happen.

temporarily insane
13/3/2017
10:36
Why bother!
temporarily insane
13/3/2017
10:35
"This week is 11 weeks into the year".............


.......and continues the theme we have all been forced into by managements decisions so far that we have been told about........ a year of sod all!

temporarily insane
12/3/2017
14:16
hguess

We still need official confirmation of the Prax-AK contract and what Tethys are earning out of it.
On paper it looks a whole lot better for Tethys without a doubt. I am sure this info is already available to the market makers and more besides. Else we would be seeing the share price slaughtered more than it has already.

We wait with bated breath.......

Edit: This week is 11weeks into the year.

1399peter
12/3/2017
14:00
Output from wells have already been declining because old wells, nothing to do with logistics. Declining wells are costly wells.

My guess is the prices they are getting now are still below cost due to this.

Prax-AK can of course commit to tiered pricing for higher volumes once these become available. Higher volume = lower cost per barrel. This commitment may assist in TPL getting financing.

We know export license is contingent on TPL meeting a minimum output. This can only be met by adding more wells, so after having already spent the 7-15 million USD for the drilling.

Work is needed​ ($) to increase output from existing wells. Capex is needed to explore and drill new wells.

casual47
12/3/2017
13:46
1399Peter,
Thanks.
I read a report by Halyk Finance prepared in Nov 2012, that Tethys sells oil at the wellhead and that its production capacity exceeds 4000 bopd and its limitations were due to the AOT and transportation bottlenecks.
Now that the AOT contract with Olisol is non-operative and as Casual pointed out that oil sales are contracted with PRAX AK, I wonder if Tethys has plans to overcome the logistics limitations it had with Oliosl/AOT.
It would certainly boost output from the wells and provide enough oil to pay off all the short term debt and also further extend drilling ops in proven KAZ wells.
So this could change the whole outlook for Tethys if they could find alternative terminal and transport arrangements with the new partner.
I have also looked at Altyn Kyran's ops on their website and they are certainly capable of offering alternative rail transport and terminal arrangements far superior to Olisol.
So depending on what talks are taking place, the future for Tethys could be "orange turning to green" if the initial debt/funding hurdles can be overcome !.
Pure speculation on my part of course !.

hguess16
12/3/2017
12:36
hguess


The Kaz government were notoriously slow at making decisions but I believe those processes were speeded up a year or so ago, although how much more efficient they are remains to be seen.

I think a lot of people buy shares and stick them in the bottom draw and they don't understand much about those investments so wouldn't have a clue about how to vote or in what direction. Or just think everyone else will vote.

You only have to watch the "Big Short" to see how so called professionals can be confused about what they have invested in and still continue to do so.

1399peter
12/3/2017
12:14
1399Peter,TI,
I am only thinking about the KAZ proven reserves as I believe Tethys will focus on these as the lenders are more likely to be interested in them for rescheduling and
lending new funds.
I wonder if the delay is caused also by the requirements of the local KAZ banks and the AGR loan which is locally controlled.
It is possible that an arrangement has already been made with the Cayman loan at this point and that Tethys Mgt are trying to agree terms for loan rescheduling,a new O/D facility in KAZ and new funds for maximising drilling of existing KAZ oil and gas wells. If this is the case, I would expect the new team to provide feedback to us once all this is settled.

As regards the voting puzzle, it is quite amazing that over 50% do not bother to vote or maybe it is a case of " known unknowns " hiding in the bushes with an agenda unknown to PI's!!.

hguess16
12/3/2017
11:48
Hguess

In answer to your earlier question.. Not all of Tethys reserves have been independently verified and my estimation of 6-8weeks is purely based on other oilers I have invested in over the years. And might be a bit of a stretch if Taj reserves need to be verified as they haven't been proved, just unrisked. Depends on what data the lenders want to see I guess.

Regarding the voting.....Yes I would say the nominee account is to blame for the lack of voting

1399peter
12/3/2017
11:37
So, 6000 investors and only 4 post on this forum!
temporarily insane
12/3/2017
08:47
1399Peter, TI, Casual,

Voting number puzzle !!.

At the last TPL EGM, the total number of votes cast for both resolutions amounted to less than 200m while the total shares are well over 400m.
It puzzles me as to why only less than 50% cast their votes. Similar or less than a
UK General Election.

There are over 6000 mostly UK and US shareholders who hold Tethys shares.

Is it because most of the votes are held by Brokers on behalf of shareholders and they do not bother to ask their brokers to cast their votes at EGM's or AGM's ?.

Or is it possible that a few or a number of shareholders deliberately withhold their voting in order to conceal that they hold in excess of 5% in concert ?.
Is this a possibility ?.

Who acquired the shares ( over 50m ) that were sold by JP Morgan and Capital Investors ?.

hguess16
11/3/2017
23:12
1399Peter,
Thanks.
Much appreciated for that.
Your note re time it takes is interesting.
I would guess that the Gustavson Report may have to be updated to satisfy the lenders
and potential new lenders.
My gut feeling is that the delay could be longer because Tethys is dealing with quite
a few lenders and also the new investors.
I hope you are right about an RNS being ready to be put out !.

hguess16
11/3/2017
22:18
Hey 1399Peter maybe you should forward that on to the BOD just to help them out.
temporarily insane
11/3/2017
20:04
hguess

Please don't take the weekends pontifications and venting of spleens too seriously. But......I thought that we had our reserves independently verified already.

I appreciate this will need to be updated

GRAND CAYMAN, CAYMAN ISLANDS--(Marketwired - Feb 27, 2015) - Tethys, (TPL.TO) (TPL.L) the exploration and production Company focussed on Central Asia, is delighted to announce the result of an updated Independent Reserves Report, which has been prepared by Gustavson Associates with an effective date of December 31, 2014. The report meets the expectations of the Canadian Oil and Gas Evaluation Handbook in accordance with the requirements of National Instrument 51-101, Standards of Disclosure for Oil and Gas Activities of the Canadian Securities Administrators.

Highlights
•Production of 0.84 million barrels of oil (MMbbl) and 4.07 billion standard cubic feet of total gas (BCF) in 2014
•Increase in remaining gross reserves(1) in all three categories at December 31st 2014 over December 31st 2013
•Proven reserves (1P) of 16.62 million barrels of oil equivalent (BOE), up 18% from 2013, represents the highest volume in the history of the company in this reserves category
•Reserves Replacement Ratio (RRR) of 163% for the 1P category
•Proven and probable reserves (2P) of 27.08 million BOE, up 7% from 2013
•Reserve increases driven by the successful 2014 gas well development drilling



Edit: Just to add DD normally takes about 6-8weeks if I remember correctly. It's been a bit longer than that now, so I would like to think Tethys is just about ready to put out an RNS

1399peter
11/3/2017
19:38
1399Peter,TI,
My perception :
Existing and potential lenders ( Banks) require proof of verifiable existing reserves of oil and gas and actual and credible evidence of actual and forecast revenues prior to any rescheduling of loans and/or new cash.
Once all that data is available, lenders do require corporate guarantees as further
collateral and then they decide the terms of any new deals prior to rescheduling and lending money to Tethys.
My questions are :
- How long does it take to carry out an independent study of existing reserves ?
- How long does it take to agree a new pricing strategy acceptable to all parties ?
- How long does it take to provide any new corporate guarantees ?
- How long does it take to finalise revised and new agreements ?

After all this, how long does it take for Tethys to issue a credible and legal press release ?.

hguess16
11/3/2017
10:58
TI,

Yes it does make you wonder WTF is going on. If Prax are indeed buying our oil, why haven't we had the info on that. Surely this is ongoing sales to another business customer or is this also tied in with the loan agreements etc and why!!

Basically we have a total news blackout it would seem.........The mind wanders, closed auction, DD, or just long winded tough negotiations, how hard can it be for a lender to see the value in Tethys, its a no brainer

1399peter
11/3/2017
10:27
Reminder: Prax-AK is a JV between Prax and Altyn Kyran.

The UK Kumar owns Prax yet the Kaz based Kumar, Medgat, allegedly signed the oil deal on behalf of Prax-AK.

casual47
11/3/2017
10:19
1399Peter..........
"we still haven't heard anything official yet though"


Standard Tethys........They were happy to tell us everything they could that was negative to get the share price low enough for Bill to convert his loan.!!!!

temporarily insane
11/3/2017
09:52
Yes I remember that being mentioned now, (The Kumar's) we still haven't heard anything official yet though, have we!!
1399peter
11/3/2017
07:53
1399Peter,
Perhaps Casual might be able to tell us who the new customer is !.
I recall he made reference to oil being sold to a new customer a while back !.

hguess16
10/3/2017
23:36
hguess

It would be lovely to hear who our new customer is and some more news besides in RNS format very bloody SOON!

1399peter
10/3/2017
21:49
Casual,1399Peter,
Following up on the Forbes note, in relation to Tethys, I see that EGG is no longer
a customer of Tethys Oil, while ICA is still a customer for Tethys Gas.
I am assuming that a new customer has taken over from EGG.
In 2015 realised oil and gas prices in Q3 were averaging at $12.24 per bbl ( and cost $8.73 per bbl) and $63.4 per Mcm ( and cost $20.05 per Mcm) respectively and were impacted by the Tenge devaluation in late August in 2015.
I am hoping that the new customer for oil pays Tethys well in excess of $12.24 per bbl.
I also note that the new team has reduced overheads recently.
It is clear that increased output through a maximisation of extraction from existing wells would result in a further reduction in costs per bbl and Mcm which
significantly improves the bottom line.
My point is that proven reserves from the existing shallow wells are available to be extracted !. The additional cash would enable Tethys to drill at optimum levels !.
I think and hope that the new team is working towards achieving these objectives !.

hguess16
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