Tethys Share Discussion Threads

[1399peter] 03/2/2017 08:37

Casual47

Thanks for posting that up this morning, as you point out there are still a few very important gaps to fill in. Hopefully we will get that info shortly

[hguess16] 03/2/2017 08:37

Casual,
Thanks for the info:. It certainly confirms my view that the Kumars' are actively involved in the future success of TPL.

[1399peter] 03/2/2017 08:29

TI,

I did look at that chart you posted before, you can see that the shorts are getting less, certainly up to end of Dec 16. a positive sign that they appear to be closing out over the last few days. Easy money when you can short a stock and control the price.

[casual47] 03/2/2017 03:52

No probs. With the way Olisol has behaved I'd say TPL stand a good chance to get at the very least a sympathetic arbitration. I hadn't contemplated this action but in a way it's beating Olisol at their own game - I really cannot see Olisol doing well under a Western legal system.

It seems to me that the Salzhanovs are very much active players here and that Mr. Kumar is a useful front to deflect exactly the kind of allegations Olisol was making in last week's article. The Salzhanovs could be exactly what TPL needs - big players with big influence, both in Kazakhstan and abroad. (I don't think many people were convinced about the Kumars themselves being this, hence the muted reaction to their joining)

It's a pity about the recent dilution and huge number of warrants/convertible debentures pending as these will undoubtedly dampen the upside, but I think this all seems to be coming good now (!)

I have been impatient at TPL not giving us more concrete info re. how they expect to get themselves out of the mess but I guess they are treading the very fine tightrope that is doing business in Kazakhstan.

I feel a lot more reassured now that it's confirmed there are some actual 'big beasts' involved.

Fingers crossed.

[benandemmiboo] 03/2/2017 01:32

Thanks a bunch for sharing the article, Casual. I imagine they will mention it if they happen to win the case.

[casual47] 03/2/2017 00:02

So, TPL,

1. How much is Medgat paying for the oil? Are you still selling at a loss?

2. What is the case you are bringing against Olisol? How much $$$? Is there any realistic prospect that should you win that Olisol will cough up, seeing as they are a private company in bandit country aka Kazakhstan?

[casual47] 02/2/2017 23:59

Would be nice if TPL had told us these things.....

I imagine there could have been a much stronger market reaction to the Salzhanovs getting involved than these two near anonymous Kumars......

[temporarily insane] 02/2/2017 22:19

The BOD are doing a great job.

[temporarily insane] 02/2/2017 22:13

1399Peter, regarding short positions I have this info from my previous post.......13271





Have a little look at this short youtube vid I posted earlier regarding organised shorting. It looks an identical pattern as what we saw this morning by the crooks.




My belief is that when shorters close, the share price usually rises as they are buying back (closing) the stock at a lower price and making a profit on the difference.

[1399peter] 02/2/2017 21:56

TI,

I am assuming the quick succession of trading this morning and over on TSX yesterday were short positions closing out, or certainly a proportion of them. If indeed that is the case then some news on finance should be with us soon, with any luck.

I don't suppose anyone on here knows what percentage of short positions are still on TPL

[hguess16] 02/2/2017 21:14

Casual.
The point I am making is that Olisol was in breach of contract and I was against the conversion of the working capital in order to satisfy the 181m share payment, whereas you were in favour !.
Following the breach, I would like Olisol to pay $15m plus consequential losses incurred by Tethys which would meet the obligations for the short term debt owed by Tethys !.
I am sure you would agree to the easing/removal of the short term debt obligations, if Olisol is forced to pay for the damage caused to Tethys by their breach,their
" bully boy " tactics and the scurrilous attack on Tethys and the Kumars'.
Winston Soosaipillai and PRAX are subject to UK jurisdiction.
I am happy with that !.
I have always been a consistent supporter of Tethys as I see no other alternative in trying to protect my investment in the company, which has been acquired during the last few years !. Having "dug in", I am sticking with it !.

[casual47] 02/2/2017 20:44

At the time it seemed a reasonable way out of the situation to most posters here.

I recall you being a big fan and believer of Olisol. (Like you are now with the Kumars).

None of us could have guessed how it all turned out.

Not sure what point you are trying to make.

[hguess16] 02/2/2017 20:23

Casual,
To remind you !.
I recall at that time, that you seemed content to allow Olisol to convert the working capital to meet its 180m shares rather than the payment of C$9.8m as per the Investment Agreement !. That was a rather "casual" way for Olisol to deliberately
ignore the IA.

[hguess16] 02/2/2017 20:11

Casual,
I am only proposing a start to any negotiations with a review of the investment
agreement which Olisol agreed with Tethys.
Tethys is in a strong position in a UK Court OR Arbitration if both parties agree to an arbitration process as it was Olisol who were in breach !.
It is possible that Tethys could maintain that as Olisol was in breach of contract, that they are entitled to sue for damages up to at least $15m for the breach which resulted in the company losing its market value ( business ).
Tethys could also be in a strong position to claim consequential losses resulting from the breach.
LFDKMP,
My association with TPL is limited to my significant holding which I intend to maintain until the company recovers, hopefully within the next 12-18 months !.

[lfdkmp] 02/2/2017 19:54

hguess16

Are you in anyway associated with TPL other than as a PI, like most of the posters on this thread?

[casual47] 02/2/2017 19:19

Those two options have been made nonsensical now that the Kumars and Pope got all those shares at 1 something cent. No way Olisol is going to pay five times over the odds.

The only way that makes sense to me is for TPL and Olisol to agree a loan repayment with a maturity date of e.g. 2018 and as sweetener some warrants at same rate as Kumars (3.1 cents) and perhaps a decent interest %

[hguess16] 02/2/2017 18:15

Olisol's dilemma !.
Having looked at the Tethys press release dated 20/10/16
The Amended and Restated Investment Agreement requires Olisol to transfer the full
purchase price of C$ 9.8M for 181m shares prior to the closing date.
In addition to this, Olisol has the right to convert any amounts of working capital indebtedness into Tethys ordinary shares at the placing price of C$0.054 per share.
The Tethys press release dated 27/10/16
" Olisol failed to provide C$9.8m for the 181m Tethys shares by the closing date".
" Tethys disagrees that there has been an event of default and that Olisol has the right to terminate the Investment Agreement as a result of Intergas dispute and is not obliged to pay the $5.7m working capital due".
Since the ICA contract has been re-instated, Olisol cannot claim an event of default.

My view is that Olisol might consider the following approach in solving this impasse.

1. Olisol offers to pay C$9.8m in exchange for 181m Tethys shares
2. Olisol offers to convert $5.7m of working capital for Tethys shares at a rate
of C$0.054 per share.

This offer offer by Olisol would comply with the amended restated Investment Agreement.

[casual47] 02/2/2017 17:25

Yes, the only thing that, it appears, could explain their self-harming behaviour is that they are not business men but small-time crooks.

[dorset64] 02/2/2017 16:50

As we sit here today casual, the only thing we can say for sure is that Olisol are on the same boat as TPL as, with their loan they are 'down' to a tune of circa $6m, with their investment they are down to a tune of $5m, and their 50% of Aral is pretty much worthless if it is not being used to a profitable outcome so, all in all all Olisol have done to date is to shoot themselves in the foot whilst aiming their gun at Tethys.

I can see no other way of them gaining anything back other than to now work alongside & with Tethys & the Kumars but, and to my astonishment, from the recents 'news' releases from them it appears they are hell bent on screwing themselves.

Time will tell but I can see no other way than for them all to come to some sort of agreement as, without out I can only see their loan going to the back of a very long queue, and so it should do.

[casual47] 02/2/2017 15:53

Seeing as the Kumars are now getting our oil, it would be good to know if the prices TPL sell it for are more competitive compared to what Olisol paid for it.

TPL was making a loss at the Olisol prices.....