Tethys Share Discussion Threads

[rovi70] 21/11/2016 11:52

mmmm! and he knows dodgy Mick as well!

[temporarily insane] 21/11/2016 11:31

It certainly would be nice to see share price positive action as proof of this bunch actually doing something.




Maybe an investigation over on TSX why the share price was manipulated down by continuous 25000 multiple sells the previous year could help to see why this seedy world of oil exploration is so underhand. Isnt the value of a company supposedly valued at the share price no matter how easy it is to corrupt it down!!!!!

[hguess16] 21/11/2016 10:33

My view is that Non-exec directors of any company are selected not only for their
past experience and knowledge, but more importantly that they should be actively involved in future strategy by proposing ways and means to enable the company to
progress.
I am hoping that both Ogunsemi and Sjoberg are taking an active role in helping the
Chairman, Bill Wells, in guiding Tethys in its aim to provide a more stable future
particularly, following its failure in the past to come up with a feasible medium term plan, required to fund its operations.
Attendance at Board meetings is only a part of this process !.

[hguess16] 21/11/2016 09:26

The $5.8M w/c Loan from Olisol+ Cayman + AGR Loans could be paid back via a loan repayment by Tethys if they can conclude an asset based funding with another partner or a farm-out of KAZ proved reserves !.
Is there anyone out there ( other than Soosai and Medgat) waiting in the wings to do a funding deal with Olisol ?. Time to show your hand !.

[casual47] 21/11/2016 08:55

reminder of Olisol money:
6+ million USD turned into shares, now worth around a million USD, so already 5 million USD squandered on paper
5+ million USD as working capital loan, currently under dispute with TPL saying they don't need to give any of it back until Olisol complete the deal. The 100% legal way for Olisol to get this money back is via the courts in Canada/UK.

There are only two ways, as far as I can see, how Olisol can get their money back

1. steal the assets, via corruption and/or upon collapse of TPL
2. resume talks with TPL and make the business work for both

It seems option 1 is out, for now. The online newspaper article Naimanka highlighted seems to indicate they haven't quite given up the fight yet.

[naimanka74] 21/11/2016 08:36

It's a good point on Olisol share price, logically they are going nowhere soon, There was no finalised relationship agreement so they have slot of options open to them, hopefully they will drop the stupid stuff and do something positive. I wouldn't classify Olisol as an II, it's difficult to pigeonhole them, bottom feeders maybe, but that ought to have been glaringly obvious from day-1, I doubt the old board (which we mustn't forget is essentially the new board) did proper due diligence. They were maybe won over by Olisol hiring Bill Wells old friend to front the offer, but all are currently still involved (bar Olisol) so pardon my scepticism about a good solution being found by the same hapless crew. We must hope there is some good news this week.

[neilyb675] 20/11/2016 15:45

Matty

you remembered hguess16, well done !!

[hguess16] 20/11/2016 14:12

Just a reminder that Olisol paid 10 US cents ( over 7p) per share for their 63m shares.
So the share price has a long way to go before Olisol are in the money !.
I am waiting for Winston Soo and Medgat K to deliver, Hopefully this week !.
Tethys still needs about $40m to get the business rolling again and an asset based
funding strategy should be the priority.
Let us hope that Wells/May and Matty Sjoberg come up with a viable solution !.

[comedy] 20/11/2016 12:01

personally agree casual47.. think we are going to get a few pleasant surprises...oilsol allowed greed to lose the desert...but they are a bit thick causing all the mess with raids etc etc..but when you deal with crooks they always think of low ways ...if they have any business guys on board they will now draw a line and move forward..ie do a deal where everyone saves face and makes plenty of money..sp will kick off...and they can bank in their gains...otherwise most will lose...

the new guys and speed of rns's with the court moving in our favour...means this will recover imho... oilsol should be happy of the money they have already made of us and the cheap shares they have bought..if they have any sense now..they will do a deal and live happily ever after:)

[casual47] 18/11/2016 16:14

Doubt it. Even if they were planning to just stick around for the admin firesale the pittance of money they need to put in for 30% of the company would be worth it.

[zangdook] 18/11/2016 16:05

or maybe the Kumars found problems during their dd and TPL is desperately trying to find alternative funding so they can announce them both at the same time and not trash the share price yet again. I hope that's not it.

[casual47] 18/11/2016 13:23

The only II shareholders are Pope and Olisol. If Pope could have given more money, they would have. Olisol we know are not our friends.

A rights issue 1. costs a fair bit of money and 2. takes a long time to complete and for money to hit their accounts.

A placing is cheaper, simpler and quicker, so I have no qualms with it, assuming it's the best deal on the table.

[naimanka74] 18/11/2016 13:15

When I saw the news story (the comments are very funny & not very sympathetic) I thought it looked a bit weak on Olisols part, I am pretty sure it's a placed story. The attached stuff is incriminating, but it's certainly not the full story.

The injunction is a good question, if I was Olisol I would have done it already (& publicised it) so there could be some horse trading going on, I suspect that the Kumars are "semi" fronting for someone else (in Kazakhstan), so it's possible someone has complained (Olisol, another shareholder??) to TSX/LSE, as splitting the shares to avoid a PIFF (& full disclosure on shareholders) looks like an artifice on the part of Tethys to not hold things up (if they badly need the money, however if they badly need the money why didn't they speak to shareholders who could have helped) there's still a lot of questions around the competence of all this and governance, it's a mess frankly, albeit mildly entertaining (I still wish I hadn't bought without more research).

[neilyb675] 18/11/2016 12:57

Do the Kumar's live at number 42 ✔

[casual47] 18/11/2016 12:55

I wonder if there can be a further twist to the story re. the Kumars. I would have expected news by now. So either their due diligence is taking longer than expected, or the "arms length" etc relationship agreements are taking longer, or......Maybe the news about the Kumars brought people out of the woodwork who are wanting to gazump the Kumars.....??

Or is Olisol causing the delay? Could they put a brake on things, seeing as no shareholder/regulatory approval is required? Did they file an injunction? Surely TPL should notify the market if so?

[casual47] 18/11/2016 12:48

Rossannan -- I understand, was just joking. Good luck!

[temporarily insane] 18/11/2016 12:47

Casual47.....

"A typical everyday situation and in business. And not only the oil industry. If the company is private, only the owners have the right to draw their managers accountable (if they are harmed). And Article - Custom offended Kazakh shareholders. However, the question arises: will let them, would not they have done the same thing? I absolutely do not believe in their honesty and justice whether they have "karmushki"."

[casual47] 18/11/2016 12:38

Naimanka, do the screenshots of official looking documents implicate TPL negatively in any way?

The article does look like a paid for one and its timing after the dismissal of the "theft" claims is probably no coincidence. Perhaps it's a good sign for TPL that Olisol after all its shenenigans via government officials route is left trying to go for the populace's sympathy vote.

Can you give the gist of this user's comments:
Тип;ичl5;ая и обы;деl5;на03; сит;уаm4;ия в биз;неl9;е. И не тол;ькl6; неф;тяl5;ке. Есл;и ком;паl5;ия час;тнk2;я, то тол;ькl6; ее вла;деl3;ьц 99; впр;авk7; при;влk7;чь сво;их мен;едk8;ер 86;в к отв;етl9;тв 77;нн
086;сти (есl3;и им при;чиl5;ен уще;рб). А ста;тьn3; - зак;аз оби;жеl5;ны 93; каз;ахl9;та 85;ск
080;х акц;иоl5;ер 86;в. Одн;акl6; воз;ниl2;ае 90; воп;роl9;: дай; им вол;ю, раз;ве они; не дел;алl0; бы тож;е сам;ое? Я сов;ерm6;ен 85;о не вер;ю в их чес;тнl6;ст00; и спр;авk7;дл 80;во
089;ть буд;ь они; у "каl8;му 96;ки".

[casual47] 18/11/2016 12:18

"at the moment"? Where have you been?

The mess has just started to clear up (fingers crossed)

[naimanka74] 18/11/2016 12:14

They were shareholders in Q1 2015, not sure how long they were invested before that. AGR "assigned" their debt to some charitable organisation, but I think that was just an artifice to enable tem to try to raid the assets in Kazakhstan, pretty sure they still own/control the debt, they must also (presumably) be completely bemused by what's happened recently. There was a funny story in the Kazakh media about Tethys, and how the company was run by crooks, let me try to find the link hxxp://www.time.kz/articles/skandal/2016/11/16/razvodchiki-nedr if you put it into google translate it "semi" translates it, it paints Olisol in a favourable light (it could well be a kind of paid "infomercial") and shows them as "victims" of the Evil Duo. However it does support my thoughts on governance in country and some curious decision making historically.
I see the filing update talked about seismic in Q4, I guess that's more in hope than expectation. I wonder what the work program on Kul-Bas is, another hope/expectation conundrum no doubt, as it's already been extended more than any other exploration license in Kazakhstan that I know, so it's last chance saloon there. Getting a contractor to drill is probably the only way, but then raises other issues with Ministry of Energy etc.

[temporarily insane] 18/11/2016 10:07

When were Plena Group invested in Tethys Petroleum?

[casual47] 17/11/2016 20:47

The 7.5m AGR loan no longer belongs to AGR but I presume a company specialising in buying debt. So I doubt they will be interested.

The 9m Cayman lender surrendered their convertible warrants, so either that was a clever move or they just weren't interested in getting a stake.

Olisol and their 5m loan, I am not sure. It may be in their interest to have a stake in the company.

The 5m Pope/ALR loan, could be.

Then there are bank/rig loans, so probably not them either.