Tethys Share Discussion Threads

[hguess16] 28/11/2016 20:07

LFDKMP,.
Isiah Berlin's essay on Tolstoy's view of history " The fox knows many things,but the hedgehog knows one big thing".
Hope my big idea comes to fruition !.

[lfdkmp] 28/11/2016 18:58

"This is not conjecture, but a sincere wish.."

Guaranteed then!

[temporarily insane] 28/11/2016 18:47

the_isolator, any chance you could post Olisols note?

[hguess16] 28/11/2016 17:38

As a PI, my hope is that the focus of the BOD is on asset based financing over a
five year period, as further dilution of Tethys equity is not a solution. I hope that
PAM, while still aiming to retain a degree of control, with a long term plan to
recover its investment in Tethys, would wish to conclude a transaction with a potential credible partner, who aligns its investment strategy with the interests of PAM and the PI's.
While I accept that the current cash flow in the company is affected by a series of short term "blunders" in the form of " borrowing short " in order to fund relatively medium term drilling/exploration operations, which has resulted in high borrowing costs and an unnecessary and unwarranted squeeze on its cash resources, it is now time for Bill Wells and his team to stop the " cash bleed", clear out the stable of the short term loans and focus the business on stability and growth of the Tethys business, which should reward PAM and the PI's in equal measure.
This is not conjecture, but a sincere wish and hope that the new team is now committed to a solution which promises and delivers rewards to its long suffering shareholders including PAM.

[the_isolator] 28/11/2016 17:35

lol maybe that's it casual

[casual47] 28/11/2016 17:14

Maybe Olisol have decided to give up on Oil and go in the Nigerian email scam business instead.....

might not be a bad idea

[the_isolator] 28/11/2016 17:10

he did say for us to meet up, mmm a trip to Kaz sounds very tempting but ill stick to the canaries for Christmas im pretty much certain to come back from there

[the_isolator] 28/11/2016 17:07

lol ive been there with uen and Oleg don't want to go there again

[casual47] 28/11/2016 17:07

I know for sure that Olisol have my email as I copied them in an earlier email with TPL but I haven't had any emails from them.

I feel jilted.

But then....I did ask in that email for all the Olisol folk to resign ASAP if they didn't cough up the money so.....maybe not that odd.

[casual47] 28/11/2016 17:03

the isolator -- you might get famous in Kaz! Perhaps Skripka plans to give the PI's view about the big bad awful TPL in the next installment of the Kaz online newspaper.

[neilyb675] 28/11/2016 16:59

Mmmmmmmmmmmmmmm

can you copy and paste the detail ???

[the_isolator] 28/11/2016 16:55

a mr Skripka interesting hey

[the_isolator] 28/11/2016 16:50

yes said he was troubled with what's happening at tpl and to give him a call

[the_isolator] 28/11/2016 14:49

Anyone had a email from certain people connected with olisol

[casual47] 28/11/2016 13:51

Three weeks since we heard about the Kumars. The deal was just a simple placing that does not require any approvals either regulatory or from shareholders. In their announcement TPL said it would be done and dusted by the 11th, more than two weeks ago.

So what is holding up the deal?

Admin/due diligence?
Olisol shenanigans?
Lenders?
Other suitors finally coming out of the woodwork?
Kaz officials?
Bod changed its mind and wants more competitive offer from the Kumars?
The Kumars changed their mind?

[dorset64] 28/11/2016 09:47

Casual, I'm not saying you are wrong, or anyone else is right just that you were starting to speak as if it were fact, which it is not, perhaps maybe not yet.

[casual47] 28/11/2016 09:24

Of course it's speculation.

The happy scenario of Mattias The Saviour just seems unlikely.

Mattias is taking the shilling from someone for some reason. I doubt he is doing it so he can add another directorship role to his LinkedIn profile or to get some extra pocket money. Just trying to understand.

While the original Caymans loan was unsecured it had to be renegotiated in order to allow Olisol to proceed with the deal. As part of that first reiteration the Caymans lender was strong enough to negotiate a clause that would secure the loan against all the assets. As it happens that clause is no longer valid now. But it shows the strength of the lender.

[lfdkmp] 28/11/2016 08:21

Dorset it has been commented on before :-)

(I am not claiming that all or indeed any of my extracts were from casual47)


LFDKMP
27 Oct '16 - 21:55 - 11882 of 12531 3 0 Edit

Extracts from a number of posts since the last announcement:

"1.Let us assume that Tethys and PAM have been actively involved in discussions with potential strategic partners in order to fund its exploration business.
3. The Claim by EGG, a subsidiary of Olisol for non-delivery of oil is weak on the basis that it owes TAG money for oil already delivered.

6. It is hoped that Tethys and PAM have kept potential partners fully informed of the developments so far and that they are quite comfortable in stepping in to partner Tethys in order to grow the business.
This last minute court case nonsense is an act of desperation, they are trying to invoke a default trigger based on a spurious default that they have set up themselves.
No need to worry too much as " act in haste and repent at leisure " applies here.
Was it part of some kind of game of brinkmanship or was it because they felt able to do it because they know they had something on the table that was a better deal?"


What concerns me about these posts is that they are presenting conjecture as plausible fact. In addition they appear to be applying evaluation criteria that would be reasonable if the jurisdiction was UK. However,this is Kazakhstan and my experience is that what is the norm and reasonable/spurious in the UK, may well be very different in other jurisdictions, particularly if other "interested parties" have influence in the judicial process.

I'll make a prediction. In the coming months there will be a series of actions that would be outrageous under UK jurisdiction, but nonetheless will restructure TPL and transfer ownership of TPL assets to other parties. This transfer will pull the rug from under my feet and the feet of other non influential shareholders. However, influential shareholders will participate in the restructuring ( amazing what you can do with secured funding) and their interests will by and large be protected.

Watch this space

PS

I am a big boy, or more accurately an "old boy". I am big enough and ugly enough to do my own research.

However, a new input into any future research will be a natural aversion to any speculative investment that has previously been identified by Mr Botting (aka as JTCod). This experience with TPL (and also TAIH and to a lesser extent GNG), means I have since invested in a very long bargepole

[seroserio] 28/11/2016 08:14

LFDKMP
If that is the primary aim of a bulletin board, then this one is a world leader. :-)

[dorset64] 28/11/2016 08:13

lol LFDKMP, it sure is what you say but just pointing out that casual47 was almost at a point of stating it as fact, which presently it most certainly is not.

[lfdkmp] 28/11/2016 07:26

Oh Dorset, you spoilsport.

I thought that was one of the primary purposes of bulletin boards:

To dress up conjecture (fantasy?) as erudite analysis.

What's an intelligent pi to do with his/her time all day?

[hguess16] 28/11/2016 07:25

Casual,
So you now accept that the Plena/Sjoborg BOD appointment was not related to Cayman after all, but " having their own Cayman guy on the BOD could have been a compromise".

My optimistic view is that Wells and May may come up with a solution to remove the short term loans of Cayman, AGR Energy and Olisol's W/C in the near future. The sensible way forward is to come up with a medium term funding strategy based on an asset based loan which includes the repayment of all the short term loans and also
provides cash to finance its drilling of existing oil and gas wells.
This can be achieved by using the existing proved oil and gas reserves as collateral
in order to meet its commitments of about $40m over the next 3-5 years.

[dorset64] 28/11/2016 07:07

Casual, you write:

The Cayman's loan could have been renegotiated....

Something similar may be going on now......

The Cayman guys may well think.......

Unless it has already been renegotiated otherwise......

They will probably prefer a scenario......

Everything you write is pure & utter conjecture, nothing else. The only FACT we know about the Caymans loan is that at present it is an un-secured loan, even though naimanka appears to lap up every negative you write regarding this loan.

Who knows why or for what reason the new addition was made to the board, it's also pure conjecture if you were to post that the reason he was put onto the BoD's was because they've just made a 50p all share buy-out of TPL and are going to pay us Shareholders an additional £1 per share to take it private!!! lol

It's all noise until such time the RNS is released and yes, it may well be something to do with the lender requesting Sjoberg to sit on the board, but seeing as its an un-secured loan one wouldn't had thought they would have that much power given, apart from initially giving the monies, they have no say in the running of the company.

Are you suggesting that the Cayman lenders have such power with an un-secured loan that they can literally insist upon putting one of 'their own' on the board as, if Bill Wells said no, what can they do apart from jump up & down and cry out loud, welcome to the world of being a Tethys investor.

We shall all know in the coming days of what is happening behind the scenes so I would rather suggest we stick to what we actually know as factual right now, and not try to second guess anything as, if we could had 12 months or more ago, none of us would be posting on this bulletin board.

I'm not saying your right or wrong, but lets just wait for the facts to surface first.

[casual47] 28/11/2016 00:29

The lien would only be created once the Olisol deal completed. As this didn't happen the lien did not take effect and the Cayman's loan remains unsecured. Unless it has already been renegotiated otherwise, of course.

It seems to me if the Cayman's lender is keen to get their money back, they can't squeeze TPL too hard. If they put unreasonable liens in any renegotiated contract it may put off 3rd parties from investing in TPL. They will probably prefer a scenario where TPL remains a going concern. Having their own guy on the BOD could have been a compromise.