Tethys Share Discussion Threads

[casual47] 14/2/2017 13:48

Yes. And I guess that is why the share price is still around 1.50.

News of this being sorted could be a real game changer as it will reveal the strength of the hand TPL now has with the Kumars on board.

Fingers crossed. Let's hope TPL has a Royal Flush.

[dorset64] 14/2/2017 13:44

Casual, my guess is that I believe that the Caymans loan has neither been settled, or indeed called in as I write.

From this we can only assume that they are still talking to the venders as if not, the loan would had been called in by now & thus a RNS released. By the simple fact that no news has been released we can assume discussions are ongoing and, I ould guess, include the Kumars too.

We can only await the outcome of the negotiations and hope they are in our favour.

[casual47] 14/2/2017 12:10

D64 -- Would you agree that it looks like the Caymans loan might still be under negotiation? As it has passed the maturation date we can assume all is, for now, proceeding with both sides still on friendly terms.

The heads of terms might already have been agreed before the EGM but if this had been done and dusted I would have expected an RNS update or at the very least for SEDAR to be updated with the new agreement (as was done before, I believe it is a requirement of their TSX listing that all material documents are posted there).

[dorset64] 14/2/2017 12:05

TI, with them still negotiating/trying to sort out both Olisol & the upcoming loans, I don't believe we will see anything until both of these have been sorted once & for all.

They cannot say they are going to drill this, bin Olisol or use Kumars trucking facilities until everything 'behind the scenes' has been agreed and, with it, their internal knowledge of funds going forward to spend on CAPEX/OPEX.

As soon as the above has been sorted then we'll start to see some share price improving news flow, but not before so unfortunately, and until the above is sorted, we are still in the hands of the loan holders and the courts in respect of Olisol, to a lesser degree.

[1399peter] 13/2/2017 18:43

TI

Thanks for posting that up.. with any luck we will get to see some of this optimism very shortly, before we all go totally frigging crazy!!

[hguess16] 13/2/2017 17:17

Well done TI.

[neilyb675] 13/2/2017 17:10

honest response from the Chown-meister

[temporarily insane] 13/2/2017 16:41

Meanwhile.....

[temporarily insane] 13/2/2017 16:41

Cheers hguess16.

[1399peter] 13/2/2017 15:58

TI,

I also think the shares are a very important issue here and I am hoping they become part of the legal proceedings.

[temporarily insane] 13/2/2017 15:52

Well I for one am glad Bill has taken control.

[dorset64] 13/2/2017 15:28

Casual, all I can say for sure is that until such time we receive the RNS stating that all loans/future funding have been re-arranged/sorted we are where we are.

I don't believe the Kumars & their associates have become involved just to throw away a few $m's so do believe things will be sorted, but its the immediate loans & cash call that has to be sorted first.

I do also believe that if/once things have been sorted, one way or another I'd be amazed if Olisol were still involved with Tethys in any other way than as a regular shareholder.

[temporarily insane] 13/2/2017 14:13

Looking forward to some good news.

[casual47] 13/2/2017 14:01

There appears to be a pretty straightforward rail connection from Doris to the Altyn Kyran port terminal. (This is what N74 and I were talking about when the Salzhanovs were first mentioned)

[hguess16] 13/2/2017 13:52

Thanks for the info Casual.
I wonder if the "new partners" will arrange to buy the oil at the wellhead in Doris and then transport by truck to a terminal and at what price ?.

[hguess16] 13/2/2017 12:39

It still leaves the Aral Oil Terminal ( AOT) partnership with Olisol to be sorted !,
I read that the AOT is located 230km from the oil wells in Doris.
There were plans to expand the AOT in three phases in order to increase loading and storage capacity.
I presume this is all up in the air now !.

[casual47] 13/2/2017 11:58

I think I misread -- October 27 must be the date of the "failure to meet contractual obligations" then

"Prior to the EGM, Tethys and each of its Kazakhstan subsidiaries commenced legal action against Olisol Investments Limited, Olisol Petroleum Limited and certain of their respective principals and/or affiliates in the Court of Queen's Bench of Alberta seeking, among other things, damages arising from failure to meet contractual obligations under an Investment Agreement between the parties on October 27, 2016 "

[hguess16] 13/2/2017 11:38

" Prior to the EGM on 27 Jan 2017, Tethys commenced legal action against Olisol at the Queens Bemch Divisionn of Albeta".
It is only less than a month since the EGM, so I am confused about the 4 month delay!.

[casual47] 13/2/2017 10:47

It's been nearly 4 months since TPL started legal proceedings against Olisol at the Court of the Queen's Bench of Alberta.

When can we expect a verdict? Or, has a verdict already been handed down and Olisol is now in appeals?

D64 -- I assume from your earlier post that you spoke to someone at TPL, or got an email reply. Did you get any sense from that where they are at re. court case and how long they expect it to take?