Tethys Share Discussion Threads

[dorset64] 07/12/2016 13:26

Casual, give him a bit of a break. The has answered your questions and more than that, has openly stated, after no doubt gaining the answers from above, that he/they EXPECTS to be able to announce good news.... he could had quite easily stated instead 'we expect to announce news soon' or 'we are still awaiting confirmation prior to releasing such news'.

I may well be seeing it as greener grass, but the fact he has said 'good news' in a written email reply, and within recent RNS' says to me they are confident of a 'good news' outcome.

I take it then that those posted above don't have any Q's for me to ask Bill or Kenneth then, if so please send to me ASAP before I contact them both.

[casual47] 07/12/2016 12:28

Q5 is basically restating what they have already said in RNS before. "Expects" is one of those weasle words for which the RNS always has a huge disclaimer regarding forward-looking statements at the end. I wouldn't read too much into it. E.g this was in previous RNS re. gas contract, it's pretty much the same:

"and is hopeful that they will be resolved amicably and to the satisfaction of all parties in the very near future."

If you can attend EGM and needle them please do -- they need to see there are other people swept up in this.

[benandemmiboo] 07/12/2016 12:23

The Q5 answer is great, thanks. So hoping it is resolved before the New Year.
And The q4 answer (North America) works for me. If in DC or thereabouts, I will go.

[casual47] 07/12/2016 11:54

Got a reply. Make of it what you will.

Q1: I asked if EGM circular will contain an explanation of why BOD thought it prudent to issue such a large number of warrants (double from what they had originally announced)

A1: "The management information circular will be issued before the EGM and will explains the why the company believes the EGM resolutions are in the best interest for shareholders."

Q2: I asked whether ALR debt that is being converted into 12 million shares will be from principal or interest. Seeing as the ALR debt was contractually agreed to have conversion price of minimum US 0.10 it would seem pretty bizarre that they are giving away 12 million shares at the much lower price if it is from principal.

A2: "The ALR debt to be converted is from the principle and will have a conversion price of US0.01593."

Q3: I asked if in addition to shareholder approval at EGM they will also need KAZ/Kase approval in order to issue the warrants

A3: "The company does not believe that it will have to obtain any further approvals from the Kazakh government or stock exchange."

Q4: I asked where EGM was going to be held

A4: "The location of the EGM has not yet been decided although it looks likely that it will take place in North America."

Q5: I asked if he had an idea when we would get update on cancelled gas contract or EGG legal dispute.

A5: "The company expects to be able to announce good news regarding the gas sales contract and the EGG legal dispute soon."

[temporarily insane] 07/12/2016 11:13

Good idea Dorset64.

[dorset64] 07/12/2016 11:04

Casual/everyone, put a list of questions on here or send me a private message with them & I will send them/talk with both Bill Wells & Kenneth May regarding the answers to them.

Edit, make sure your questions are ones that they can answer as its no point asking anything that, due to listing rules they are physically restrained from offering us an answer.

[targatarga] 07/12/2016 11:01

Unfortunately Tethy's is but a morsel for the bottom feeders. The only thing shareholders will get is the smell of effluent as they're dumped from the colonic system.

[casual47] 07/12/2016 10:50

He may be, but he's the official IR contact. If you ring the TPL contact number you get straight through to him.

They published May's email on one of the SEDAR documents so was tempted to send to him but with such a small operation I'm pretty sure it gets to him in any case.

That SEDAR doc also had the two Kumar emails, so good to know for future reference!

[casual47] 07/12/2016 10:35

I chased up Pete about 10 minutes ago.

[temporarily insane] 07/12/2016 10:34

Casual47, have you had any reply by the managers at Tethys about wtf is going on and why this lot are getting paid for achieving jack that we can see so far?

[benandemmiboo] 07/12/2016 10:24

Wish Wells had 1/3 of his salary paid with Tethys shares priced at the same amount (17 pounds?) in which John Bell received them. Think it's interesting that he got promoted right after selling off 400,000 shares.

[casual47] 07/12/2016 10:14

Hguess, you still don't get it. Olisol, in order to even get a foot in the door, HAD to promise they had access to $50 million.

The Kumars have been let in without any such requirements. Just words. And a prayer.

[hguess16] 07/12/2016 09:26

Casual,
The trouble with your reasoning is that Olisol promised $50m but it turned out to be a
"shrinking pup".
Olisol proved by their actions to be untrustworthy and unreliable, Period !.

[casual47] 07/12/2016 08:58

We talked about this when Olisol got interested. Seeing as the companies were already so integrated a merger and listing could make sense for Olisol.

At least Olisol promised they had access to 50 million credit facility. The Kumars aren't even promising that. All they have done so far is give TPL 700k each in return for nearly 10% of the company each.

Before we start dreaming let's see how they plan to take us out of this rabbit hole.

Gas contract?
EGG court case?
Frozen bank accounts?
51 million USD liabilities to be paid next 10 months with first 8 million due in under two months.....
Funding of at least 7 million to start drilling
Etcetera
Etcetera

[hguess16] 07/12/2016 08:39

TI,
Listing on any recognised global exchange provides an opportunity for companies to raise capital and provides great exposure, which is very attractive for private limited companies in the UK or elsewhere.
Tethys at present is a relative shadow/shell of its former self !. But it is still a
public listed company quoted on the TSC and LSE.
I would consider this an excellent opportunity for the Khans to fold some or all its private operations within SOG/Petro Impex into Tethys via a takeover of Tethys.
This might be considered wishful thinking on my part, but I would do it at some future date, if I were in their position !.
From PAM,s perspective, it might not be such a bad idea for it to be associated with
the Khans, who are young and expanding their energy operations globally.

[temporarily insane] 06/12/2016 23:08

hguess16, thank you for your reply. Why would they want to list on TSX, especially after all the shenanigan we have all been through.

The TSX seems like the wild wild west.

[hguess16] 06/12/2016 22:48

Prax Petroleum which is owned by Winston Soosaipillai is UK private limited company.
It is unlikely that there are any major institutional investors funding Prax.
Medgat Kumar is a director in a company, Petro Impex Trade based in KAZ involved in oil trading.
There is little likelihood of a major financial institution funding Petro Impex Trade.

However there could be major private financial backers who may be involved in funding our new Investors via their contacts in Zug in Switzerland, Singapore and Houston in the US.


I think Soosaipillai/Prax Petroleum and MedgatPetro/Imoex Trade may see Tethys as an excellent opportunity to acquire control of a TSX/UK public listed company and use it to integrate its other business and list the group on TSX and LSE.

[temporarily insane] 06/12/2016 21:08

Do the Kumars use institutional investors to fund all their successful operations or is it 100% privately owned?

[temporarily insane] 06/12/2016 20:45

Its down to PAM and the previous idiots that they employed to hoof out Robson that caused the loss in confidence.

I have been watching and posting screengrabs throughout the years from Morningstar.com that showed institutions selling bit by bit, albeit some were small amounts, less than most PIs hold.

Its down to Bill Wells and Ken May now to work (seeing as they are getting paid) and create institutional confidence for investment.

[hguess16] 06/12/2016 20:31

TI,
Your breakdown reveals a huge loss of confidence in Tethys among major investors !.
Having been reduced to only PAM as an institutional shareholder, Tethys has to climb
Everest in order to regain confidence with existing and potential new investors !.
We can only hope for better times in the future !.

[temporarily insane] 06/12/2016 20:15

Good post hguess. Cheers.