Tethys Share Discussion Threads

[naimanka74] 17/11/2016 19:51

In governance terms this is a step forward, Plena were previously invested in Tethys, anyone know when they sold down? I think it’s unlikely that they would invest now with the issues being faced across the board. He's a smart guy, so ought to be able to help (although the board still lacks any real expertise in operating in frontier countries, that's something that never was addressed previously either) them make more nuanced decisions.

My original point (about a rights issue) was that without the commitment of current shareholders you wouldn’t be able to attract either a strategic partner nor institutional support.

In any event this is (for me) a positive event, it doesn’t "ameliorate" any of the myriad issues faced by Tethys, but it’s a step in the right direction.
Contractor finance can help as well, but (obviously) only works if you can sell product (Gas or Oil). Selling their half share in the terminal whilst in dispute with the co-owner and 2nd largest shareholder seems, to me at least, an unlikely scenario (in terms of finding a buyer, unless a new oil trading partner took out both partners stake, possibly via the lender). As are any near-term gas sales to China.

So much will depend on the proposed new equity sale, as well as what Olisol do with respect to the original investment agreement, whatever happens next can be either very positive or very negative. D4E is logical in a way, but relations between Olisol/AGR/Board are unlikely to be “warm”.

The Swedes are neutral, so maybe he is the "peacemaker", which can also be highly beneficial to all shareholders.

[walter walcarpets] 17/11/2016 19:51

era: that depends on your point of view !

[casual47] 17/11/2016 17:41

If it was simple we wouldn't be sat here at a penny a share.

[sleveen] 17/11/2016 17:29

D4E swap. Quite simple really.

[casual47] 17/11/2016 17:14

For PIs ultimately what matters is the shareprice, not the % of equity their shareholding represents.

Right now the two biggest shareholders, Pope and Olisol, who together have nearly 33% of the company, have share price averages upwards of 8 pence.

There are a few solutions to the current situation and not all of them will result in an share price that is disadvantageous to PIs, at least, compared to the current share price

Sure, there could be a massive dilution at £0.01, or less than that, but even if all of the remaining authorised un-issued shares get issued (around 1.1 billion shares) that still would only result in a fundraising of £11 million pounds, which doesn't really solve anything whatsoever.

[roundup] 17/11/2016 16:29

Unfortunately, past Directors have allowed the company to decline into a very weak and vulnerable position. They are now more or less at the mercy of those who come forward offering any sort of solution. Make no mistake, whoever invests will make sure they get the lion's share of the company at the expense of private shareholders.

[temporarily insane] 17/11/2016 15:06

So we now await the news on the Kumars.

Friday RNS or a Monday RNS?????

[temporarily insane] 17/11/2016 09:46

sleveen, dont buy then. Quite simple really.

[hguess16] 17/11/2016 09:27

Mattias Sjcberg has been appointed as a director of Tethys. I am assuming that he brings experience in cross border financing of Assets. Equity dilution of Tethys should be avoided at all costs.
What,I think, we need is advice on how to create a funding structure that uses existing proved oil reserves as an asset in order to finance the exploration of wells in Kaz and Georgia and to repay existing loans to Cayman, AGR and Oliosl if required
immediately and also thereby reduce the high cost of financing Tethys Ops.

[brad44] 17/11/2016 09:18

Well our new team seem to think there is something worth persuing sleveen, and for those of us who are already invested we are hoping that they can turn this around. there is a big call for gas and we have this and a pipeline close to, and this is one call for optimism..

[casual47] 17/11/2016 08:54

We'll know soon. First loan matures in March.

None of the loans are secured against assets and there is a good chance of successful refinancing, imo.

[sleveen] 17/11/2016 08:42

Mainly due to $20m being transferred from non current liabilities in 2015 to current liabilities in 2016.

Where's the $50m coming from to pay current liabilities?

Asset sales haven't happened , loans haven't happened.

Barge pole stock.

[casual47] 17/11/2016 08:27

Total liabilities have only increased by around 5 million USD compared to last year, when there were three companies wanting to bid for (part of) the company at much higher price per share than current share price

[sleveen] 17/11/2016 08:18

Fianacials are terrible.

Current liabilities £50m v current assets of $10m in addition there $10m of non current liabilities.


Cash outflow of $1.7m from operations in Q3 alone.

[comedy] 17/11/2016 08:06

well topped up just now at 1.25p...have a feeling this will eventually opo over coming months...more risk...more share price depreciated...new blood with reputation to get work done..so when paradigm shift share price will react other way when heard jumps on...:)

[neilyb675] 17/11/2016 07:44

I also like the word amelioration.

Lets hope its just "getting better all the time" as them Beatles sang.

[wrighty46] 17/11/2016 07:41

Traction my word for today. Hopefully coming to all TPL shareholders one day very soon.

[neilyb675] 17/11/2016 07:40

Aren't we all gonna call him Matty....? 👀👀🙏🙏8588;🙌Ԁ64;👀

[tpfkate] 17/11/2016 07:32

MS is no stranger to TPL. Was instrumental in the removal of David Robson alongside JPM and Bill Wells

[neilyb675] 17/11/2016 07:20

Mmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm...........👀€064;🏆ㇲ5;👀👀🙏🙌🙌😎,
0004;

[parthus] 17/11/2016 06:29

Neily:

You are up early ! Is this when you practice your elocution lessons in front of the mirror, in order to come up with brilliant phrasing such as:

Yaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa, mmmmmmmmmmmmmmmmmmmmmmmmm indeed !!!! 🙊🙈🙉👳

[neilyb675] 17/11/2016 06:16

Dorset / Casual - thanks for explanations. Appreciated.