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TPL Tethys

1.125
0.00 (0.00%)
20 Dec 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 Shares Traded Last Trade
  0.00 0.00% 1.125 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 1.125 GBX

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Posted at 19/12/2024 22:09 by bahamasoil
This is an extract from the 2017 Management Report.

I remember reading that Tethys Total Reserves had been adjusted and that these figures no longer applied.
Is anybody on the BB aware of the history and can guide us as to the true and current reserve estimates. Thanks.


Report of Management and Directors on Oil and Gas Disclosure in Form 51
-
101F3
Disclosure of Reserves Data
Kazakhstan
The reserves data summarise the crude oil and natural gas reserves of the Company and the net present values of future net revenue for these reserves using forecast prices and costs. The reserves data set forth complies with the requirements of NI 51-101. The Company has included additionalinformation not required by NI 51-101 which the Company believes to be pertinent to investors and to provide continuity with earlier disclosure. Gustavson was engaged by the Company to provide evaluations of proved, probable and possible crude oil and natural gas reserves.
In preparing the Gustavson Reserves Report, basic information was obtained from Tethys, which included land data, well information, geological information, production data, estimates of on-stream dates, contract information, current hydrocarbon product prices, operating cost data, capital budget forecasts, financial data and future operating plans. Other engineering, geological or
economic data required to conduct the evaluations and upon which the Gustavson Reserves Report
are based was obtained from public records, other operators and from Gustavson non-confidential files. The extent and character of ownership and the accuracy of all factual data supplied for the
independent evaluation, from all sources, was accepted by Gustavson as represented.
Estimated future net revenue based on the Gustavson Reserves Report is presented in USD (note: oil and gas sales and qualifying expenditure are subject to VAT at 12% in Kazakhstan; however, these are outside the scope of the NI 51-101 evaluation). All evaluations and reviews of future net cash flow are stated prior to any provision for interest costs or general and administrative costs (other than Kazakhstan-related general and administrative costs) and after the deduction of estimated future capital expenditures for wells to which reserves have been assigned. It should not be assumed that the estimated future net cash flow shown below is representative of the fair market value of the Company’s properties. There is no assurance that such price and cost assumptions will be attained and variances could be material. The recovery and reserve estimates of crude oil and natural gas reserves provided herein are estimates only and there is no guarantee that the 30
estimated reserves will be recovered. Actual crude oil and natural gas reserves may be greater than or less than the estimates provided herein.
Throughout the following summary tables differences may arise due to rounding.
Summary of Oil and Natural Gas Reserves
(1)
As of December 31, 2016
Forecast Prices and Costs
Light and Medium Crude Oil
Natural Gas
Total
Reserves Category
Gross (Mbbl)
Net (Mbbl)
Gross (Bcf)
Net (Bcf)
Gross (MBoe)
Net (MBoe)
KAZAKHSTAN
Proved
Developed Producing
2,433
Developed Non-Producing
2,041
Undeveloped
6,743
Total Proved
11,217
Probable
9,852
Total Proved Plus Probable
21,069
Possible
13,749
Total Proved Plus Probable
Plus Possible
34,817

Notes:
(1) Possible reserves are those additional reserves that are less certain to be recovered than probable reserves.
There is a 10% probability that the quantities actually recovered will equal or exceed the sum of proved plus
probable plus possible reserves.
Posted at 11/12/2024 21:44 by tankerton
Dr3dd, $0.77 was probably the price at the time the private transfer was agreed in principle. The price was probably held at or around that price to allow the deal to be agreed just like the price is now being held at $1.30 for some other reason which we will find out in due course.

Peter, I understand your concerns but the new guy is not known for his patience, quite the reverse, he is a man for doing deals. In fact I'm amazed just how quick he has put his stake together. It does make you wonder about the politics involved in getting the other investors to sell.
Posted at 11/12/2024 13:09 by daz21
Are these distressed sellers selling the stock as I would expect the price to be greater than 0.77c if Fincraft where an aggressive buyer or is 0.77 the correct share price for the company today.

Also only 2.5 weeks left in the month, where is the licence for 2025 or are we shutting down again
Posted at 07/12/2024 23:45 by wrighty46
Licence before year end? Re dilution, I can't see it being anywhere near these levels, the big holders aren't going to dilute themselves surely? It would imo only happen if and when the share price is at many many multiples of today's price. And if they want quick money for drilling, expansion etc once we get the licence forward selling of our oil would be an option. Licence next week please. GLA
Posted at 30/11/2024 23:47 by tankerton
Atomaton.
That is true up to a point.
I have repeatedly said how easy it is to manipulate the share price on this matched bargain exchange but to be successful you need to have no liquidity and a negative sentiment. With a change of sentiment and greater liquidity it is much harder to control the price.
You only have to read the comments here with most just wanting out but what happens post licence with production and revenues rising, the dividends reinstated and deals being done when many will want in.
Add that to possible stake building by Fincraft and it will be impossible to control the upward momentum.
Posted at 27/11/2024 14:19 by dr3dd
Very interesting comment from Stockhouse by...Kyrgyzgold





RE:New Press Release - Tethys Petroleum Interim Results and Corporate Update
Oil sales from these three wells alone should deliver revenue of ~$30 million per annum:

"On November 18, 2024 the Group received the Ecology permit for oil production at Kul-Bas. This permit is valid through December 31, 2024 and allows production to commence from wells KBD02, KBD-06, and KBD-07. (...) During the preparatory period, production from these three wells is expected to reach a daily rate of approximately 400-500 tons."

"The Group has recently negotiated oil sales contracts with three buyers and received prepayments in advance of the commencement of production for 11,000 tons of oil at prices of $212-215 per metric ton."


HUGE NUMBERS and the share price is this price!!!! ;-0
Posted at 08/11/2024 23:39 by dr3dd
Meanwhile for our fellow investors, this is what was happening back in 2013.....................in the ice age of Tethys Petroleum....!


Tethys Petroleum’s Kazakhstan operations update
Oilfield Technology, Thursday, 12 December 2013 13:00

Exploration wells
The AKD08 ("Doto") exploration well has reached a total depth of 3556 m and electric logs have been run to TD in the 8 ½ in. hole section. As was previously announced, hydrocarbon indications have been observed in both the Cretaceous and Jurassic sections whilst drilling and from the wireline logs. The well has now been cemented off at the lower Triassic level and the well is being prepared for a testing program on both the Jurassic and on the Cretaceous intervals. Testing of the first zone is expected to take place by the end of December once appropriate Kazakh regulatory approvals have been received. The deeper Triassic section will not be tested as only low permeability zones were encountered.

The AKD09 ("Dexa") exploration well has reached a total depth of 2452 m and electric logs have been run. The primary exploration target of the well, the Cretaceous "Doris" channel sandstone, does not appear to be hydrocarbon bearing at this location. The well was targeted at this level to evaluate the potential upside of the Doris field in the area to the north-east of the field. The well is now being prepared to drill a semi-horizontal Doris development well in the Jurassic Limestone sequence close to the Doris field discovery AKD01 well which tested 1373 bpd of 46°API oil from this sequence. The AKD01 well has not to date been commercially produced from the Jurassic as it is currently producing from the Cretaceous sand and therefore this area of the reservoir will be unswept. The AKD09H well will provide a longer production interval in this fractured reservoir sequence using an approach which is commonly used in such zones.

A successful cementing procedure has been carried out on the KBD01 ("Kalypso") well and a comprehensive stimulation and subsequent testing programme, to be conducted primarily by Schlumberger, will commence mid-December, initially on the Permo-Carboniferous interval. The testing programme will involve acid-fracture stimulation of the carbonate interval approximately 4100 m below the surface and will take up to one month to complete. Electric logs run over this section and drilling data indicated more than 100 m of gross potential hydrocarbon bearing zones.

Further exploration
The initial results of the additional seismic acquired in the summer of 2013 are very promising and the first interpretation indicates a prospect in the Kul-Bas Exploration and Production Contract area to the west of the Akkulka Exploration Contract Area (to be named "Klymene"), with the potential to be an order of magnitude bigger than the Doris oil discovery and surrounding prospects (the geographical area of the prospect is up to ten times the areal extent of the Doris oilfield). It appears to have good four-way structural closure and positive indications on the newly interpreted seismic. Prospective Resources to NI 51-101 standards are being independently prepared with further information expected to be provided early next year. It is expected to spud this new well in the first half of 2014.

Shallow gas drilling program
Currently the tied in gas wells on Kyzyloi and Akkulka can produce approximately 360 000 m3/d (13 million ft3/d). At the current gas price (recently doubled in price to net US$ 65/1000 m3) this production generates approximately US$ 8.3 million/yr in revenue.

The forward gas programme has two aspects: those wells that have been previously drilled and tested that will be tied in and new shallow gas wells with up to 10 new wells planned for 2014.

Previously drilled and tested wells will be brought on stream over the next 12 months, at different stages dependent on their particular location and contract status.

The AKK14 well was drilled in 2008 and tested at 195 000 m3/d (6.9 million ft3/d) in the Tasaran horizon. This gas well has been approved and incorporated under the Akkulka production contract. It will be worked over and brought on production in January 2014 and is already tied into the pipeline system.

The AKK05 well was drilled in 2005 and tested at 223 000 m3/d (7.9 million ft3/d). This will be worked over in February 2014 whereupon it can be produced for 90 days test production. It is expected that it will be approved and incorporated under the Kyzyloi production contract by Q3, 2014 whereupon it can be placed on permanent production, also already being tied into the infrastructure.

The AKK15 and AKK16 wells were drilled in 2008 and tested at 195 000 m3/d (6.9 million ft3/d) and 289 000 m3/d (10.2 million ft3/d) respectively. Additional wells will be drilled in proximity to AKK15 and AKK16 next year and these pipelines will be laid and tied into the optimised infrastructure.

In addition to these tie-ins of already discovered gas accumulations, a comprehensive shallow gas drilling program will be carried out in 2014 to drill up to 10 new shallow gas wells. The initial well locations have been chosen with further targets to be identified close to the gas pipeline after the interpretation of 3D seismic data. These wells are targeting gas at 600 - 800 m at the deeper, higher pressured Tasaran sand level that tested strongly on the AKK14 and AKK15 wells, as currently the production is exclusively from the shallower Kyzyloi stratigraphic level. On the previous drilling campaign, 11 out of 13 shallow gas wells were successful and the subsequent seismic acquired (including 3D) is of better quality.

This programme would be expected to significantly increase gas production.

Bozoi-Shymkent-China gas pipeline
The recently completed Bozoi-Shymkent-China gas pipeline means that for the first time Tethys has two gas pipelines into which it can sell its gas; the pipeline taking gas to China, and the existing Bukhara Urals trunkline that transports gas from Central Asia into Russia and on to Europe. Currently the Chinese pipeline is only taking domestic gas within Kazakhstan to Shymkent but in 2015, gas sales to China will commence.

Tethys' strategy is to carry out the comprehensive outlined program in 2014 in order to complete all work and have all government permissions to commence selling into the Kazakhstan-China pipeline by year-end 2014 when it expects to achieve a significantly higher net price than the current net price of US$ 65/1000 m3. Tethys believes that currently Chinese buyers are buying gas from Central Asia at much higher prices than this and Tethys expects the price it receives to rise again at that time.

Tethys is focused on oil and gas exploration and production activities in Central Asia and the Caspian Region with activities currently in the Republics of Kazakhstan, Tajikistan, Uzbekistan and most recently is now moving into Georgia. This highly prolific oil and gas area is rapidly developing and Tethys believes that significant potential exists in both exploration and in discovered deposits.
Posted at 20/10/2024 10:33 by dr3dd
Could we see a rise in the share price seeing as the news release was a lot better than we are used to seeing?
Posted at 12/10/2024 02:59 by j4ckster
FINCRAFT GROUP LLP ACQUIRES ORDINARY SHARES OF TETHYS PETROLEUM LIMITED

Canada NewsWire

ALMATY, Kazakhstan, Oct. 11, 2024

ALMATY, Kazakhstan, Oct. 11, 2024 /CNW/ - Fincraft Group LLP ("Fincraft") announced that it has entered into share purchase agreements providing for the purchase of an aggregate of 30,959,133 ordinary shares (the "Purchased Shares") of Tethys Petroleum Limited ("Tethys") through three private purchase transactions (collectively, the "Purchases"). The Purchased Shares represent approximately 26.95% of the issued and outstanding ordinary Shares of Tethys. Pursuant to the purchase agreements, the Purchased Shares will be acquired at a price of US$ 0.540570016 (C$0.7435 based on the Bank of Canada daily rate of exchange on October 10, 2024) per Purchased Share, for an aggregate purchase price of US$16,735,579.02 (C$23,018,115.39). The purchase of the Purchased Shares is subject to certain approvals and is expected to be completed during the fourth quarter of 2024.

Prior to giving effect to these transactions, Fincraft beneficially owned no Ordinary Shares.

Fincraft intends to acquire the Purchased Shares for investment purposes. Fincraft may, from time to time, acquire or dispose of ordinary shares or other securities of Tethys in the future, either on the open market, in private transactions, pursuant to an offer to acquire outstanding securities of Tethys, through a corporate transaction involving Tethys, through treasury issuances, exercises of convertible securities, or otherwise, in each case, depending on a number of factors, including general market and economic conditions and other available investment opportunities. Depending on market, economic and industry conditions, the business and financial condition of Tethys, and other relevant factors, Fincraft may develop other plans or intentions in the future relating to Tethys.

A portion of the Purchases will be completed from one seller in reliance on the private agreement exemption available under section 4.2(1) of National Instrument 62-104 Take-Over Bids and Issuer Bids.

Tethys' head office is located at 802 West Bay Road, Grand Cayman, KY1-1205, Cayman Islands.

This news release is issued under the early warning provisions of applicable Canadian securities legislation. A copy of the early warning report filed in connection with the investment will be available on Tethys' profile on SEDAR at www.sedar.com or may be obtained by contacting Timur Seilov at +7 (727) 355-0151.

About Fincraft

Fincraft is a diversified holding company founded in 2014 and led by Kenges Rakishev. The Group operates in five key segments: oil & gas, mining & processing of metals, educational services, distressed asset management, and other activities. Fincraft is headquartered at Dostyk Avenue 300/26, Almaty, Kazakhstan A25D7Y.

SOURCE Fincraft Group LLP

View original content: hxxp://www.newswire.ca/en/releases/archive/October2024/11/c9202.html

Copyright CNW Group 2024
Posted at 20/3/2024 19:02 by dr3dd
Sadly we see this, it is just a bit frustrating watching the company share price really achieve nothing for nearly a decade, based upon how the share price was previous!

The share price is only a few cents above where it was when it was valued at going bust!!!

Let us all try to explain that !
Tethys share price data is direct from the London Stock Exchange

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