Tethys Share Discussion Threads

[brad44] 21/9/2016 20:50

Casual47 thanks for keeping this thread very well informed, i for one have appreciated your comments. with regards to a Chinese partner, i remember EEN in its last phase. EEN went for a fraction of its potential worth, however at this stage i am just glad to see that we still have a pulse. the Chinese drove a really hard bargain with EEN takeover, so any dealings with them will be vicious!! still i will look forward to that if and when it happens at circa 40p

thanks again Casual

[temporarily insane] 21/9/2016 19:39

I appreciate your comments as no doubt everybody does on this BB. Thank you for replying.

[casual47] 21/9/2016 19:37

Because:

1. It seems Dr Robson was full of hot air, building his Tethys dream on sand, fancy offices and exec perks. The market lapped it up as POO seemed invincible and surely an Oil company can just print money...

2. Majority of current debt was accrued in 2015

[temporarily insane] 21/9/2016 19:34

Regarding post 11447, why did they have to delay the previous payment when they have so much money at their disposal?

[casual47] 21/9/2016 19:33

My guess is that Olisol will work to ensure that the risks surrounding TPL are mitigated/taken care of so that a third party can come in as e.g. JV partner. A Chinese partner would make most sense, seeing as the gas supply into China will be ready soon.

[temporarily insane] 21/9/2016 19:30

So saying all the above, why was the share price at 55p or even 25p?

[casual47] 21/9/2016 19:23

Posting again this paragraph from Olisol's first press release in connection with Tethys:

"Olisol has secured a US $51 million credit facility and has cash on hand of US $20 million which are available to fund its obligations under the Transaction and to make further investments into Tethys, as either debt or equity, should additional capital be required and the parties agree to the terms of such further investment."

[casual47] 21/9/2016 18:56

Once the Olisol placing takes place they will have invested a total of circa 13.7 million USD, all converted into shares at an average price of circa 4.3 pence. With a potential 50 million shares to follow.

TPL has a huge debt mountain to take care of, running at 30 million USD, with most pressing the Cayman Islands loan of 8.1 million USD plus interest and the AGR loan of 7.5 million plus interest.

In addition they will need to find funding in the region of 7-15 million USD to start one of the two drilling programmes that are furthest advanced.

While it is a big mountain to climb, the fact that Olisol will have serious skin in the game with none of it secured seeing as it is all in shares, should give us PIs hope that the ship SS Tethys may yet sail towards victory.

[temporarily insane] 21/9/2016 14:58

...............And nothing over on TSX.

No surprise there then!



All the corruption and manipulation has been done to get the share price from 55p to 1.5p.

That exchange needs to be investigated for fraud and shut down.

[casual47] 21/9/2016 13:34

320K buys at around 1.62 so far today. Good to see some PIs adding/getting in.

[temporarily insane] 20/9/2016 20:06

So we just sit here and wait for Olisol to work on go slow time.

Like we have been doing or nearly a bloody year.

[casual47] 20/9/2016 15:14

D64/Devonlad -- could you ask your respective contacts re. likelihood of price increase happening anytime soon?

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casual47
20 Sep '16 - 14:48 - 11438 of 11440 1 0 Edit
....an announcement on Olisol having negotiated higher prices for Tethys would sure put a motor on the share price and increase our prospects of getting another party inject equity for drilling capex.

[temporarily insane] 20/9/2016 15:00

Exactly what we expected from the Canadians over on TSX. Now all the corrupting and manipulation to get the share price down has been achieved and now the good news is on its way......

[temporarily insane] 20/9/2016 14:58

Be careful there Casual47, we dont want the Olisol/Tethys BOD actually achieving something whilst being paid for the last year.



Certainly would be good though.

[casual47] 20/9/2016 14:48

....an announcement on Olisol having negotiated higher prices for Tethys would sure put a motor on the share price and increase our prospects of getting another party inject equity for drilling capex.

[casual47] 20/9/2016 14:43

The below's taken from the AGM Circular. Maybe useful reminder to some what the whole Olisol transaction is all about.

Use of Proceeds

(...) The Company believes that receipt of such proceeds will provide a base from which to maintain its assets. Proceeds will be used to repay certain debt and other obligations, and fund work programmes and working capital requirements of the Company, including amounts due to a Cayman based private equity lender under the terms of the January 2015 loan agreement. In addition, the Company may receive an additional US$2.7 million in connection with the Future Offering, which amount, if received would be available for general working capital purposes.

Funding to be Used to Help Unlock Significant Potential in the Company’s Assets

The Company believes that the gross proceeds from the Transaction, including the proceeds already received under the Amended Facility Agreement, will provide a basis for the Company to move forward and help unlock the potential in its Kazakhstan assets and broader exploration portfolio in the future. Additional funding will be required in the future, following the Transaction, to pursue a potential acceleration of operations, production and cash flow and to enable all shareholders to potentially benefit from new gas marketing opportunities currently anticipated in early 2017 onwards and expected oil export opportunities from 2018. Once compressor stations are built in China, such new gas marketing opportunities will include potentially exporting gas to China now that gas prices received at the Chinese border are higher than those received when gas is sold locally. The Company also aims to increase gas production in Kazakhstan, drill relatively low-risk exploration wells in Kazakhstan, drill the Klymene prospect in Kazakhstan and continue to fund its minimum work obligations in Georgia as it pursues a farm-out of its interests.

Recapitalisation of the Company

Since entering into an agreement with SinoHan in 2013, the Company has been required to put in place a number of short term interim loans to bridge its financing requirements pending closing of a proposed transaction with SinoHan, which transaction was terminated on May 1, 2015. These loans are relatively high cost and restrictive on the Company. The Transaction involves a substantial equity injection including the conversion of the amounts due under the Amended Facility Agreement into Ordinary Shares, resulting in a more appropriate capital structure for the business going forward.

Strategic Relationship

Olisol has been investing in the oil and gas sector in Kazakhstan and the Russian Federation since 2002. The Company has had a relationship with Olisol through the Aral Oil Terminal JV and oil trading business in Kazakhstan since 2009. Olisol intends to utilise its local knowledge and expertise in the resources sector to support the Company's growth, both operationally and financially. Partnering with Olisol is expected to help the Company achieve higher prices for its oil and gas, amongst other strategic benefits in-country.

[temporarily insane] 19/9/2016 21:17

Looks as though Canaccord (003) have come back on the books as a buyer over on TSX. Havent seen them before.

[temporarily insane] 19/9/2016 20:36

casual47, thank you. Im hoping for upwards of £3.00...Lol

As a side note, you seem rather good at the numbers, which is appreciated.

[casual47] 19/9/2016 20:09

TI, an equivalent rise at TPL gets us to 7.5, doesn't seem that impossible.

The share price NOG wanted to buy us for was around 5p taking into account forthcoming dilution of placing and "further placing".

[temporarily insane] 19/9/2016 19:39

Agreed we have been kept in the dark for the past 3 years whilst all sorts of shenanigans have gone on.

We need updates on every process to keep us all informed on what is going on.


HOW BLOODY HARD CAN THAT BE?



Regarding SOU, if Tethys share price can react the same way in such a short time I will be over the moon and sing the praises of the new board around the world. We all deserve it.

[dorset64] 19/9/2016 18:48

The point with SOU is that the BoD's give news on each stage of a drill, therefore peeps are kept informed, whereas we're in the main kept in the dark.

Last few days as an example of SOU, first casing point RNS, 2nd casing point RNS & then 'Final casing point' etc etc.

Hopefully once we get drilling again Ken will keep his shareholders as much informed as SOU's are.