Tethys Share Discussion Threads

[temporarily insane] 26/2/2017 19:24

So lets see if this week can break the boredom for us frustrated shareholders.

[1399peter] 24/2/2017 22:24

Mostro

Yes he was a bit of a character but now hopefully with this management team Tethy's will finally make something of itself.

[mostro] 24/2/2017 20:57

1399Peter

In fact a bit more personal than described, because I met with and partied with Dr David Robson back in 2012 in the Channel Islands and fell for the big Tethys chat.
He was full of it and both I and many, many gullible and unknowing friends of mine fell for the entire game, hook line and dosh.
Any return would make me feel and sleep a little easier!!

Mostro

[1399peter] 24/2/2017 20:53

Mostro
Well that makes two of us, good luck with getting your 150k shares, although I wouldn't take any advice or direction from a BB. It's anyone's guess as to how this will pan out.

[mostro] 24/2/2017 20:44

1399Peter
No, not a clue, but I can afford to send a few thousand on a mission to try and get back a much bigger loss.
In bridge play, we call it sending a boy on a mans errand!!
Never was good at cards!!

[1399peter] 24/2/2017 20:35

Mostro

You have been around a long time fella, I am sure you know exactly what you're doing

[mostro] 24/2/2017 19:51

In light of recent posts I am going to increase my TPL holding from 50,00 to 200,000 shares to leave me at an average cost of circa 14p per share. If wiped out then so be it, but at best hope of maybe some agreement at 6p to 10p (asset value is still rated at dollars.56 per share)I will recoup some of my (already lost and written off) losses for a very small input!!
The knife has fallen but it might just rebound a little!!

[1399peter] 24/2/2017 15:19

They also need to remember this important note!!




Temporarily Insane
22 Feb '17 - 18:21 - 13619 of 13645

TIME IS MONEY

[hguess16] 24/2/2017 14:35

Thanks 1399Peter,Casual.
It seems evident that the uncertainty surrounding the next challenges/opportunities for the new team will be determined by the known/unknown factors and events that lie ahead and consequently, we as virtual " sleeping partners " in this enterprise are totally dependent on both the team's ability to overcome the difficulties and hopefully try to capitalise on available opportunities through a maximum use of its resources incl the existing oil and gas reserves, its new trading relationships, and being " street wise " in a KAZ business environment.

The current burden of short term loans and the need for finance to drill existing wells and market the produce efficiently, needs to be solved through a credible business plan and corporate guarantees, which provides a level of credibility and confidence to existing/potential lenders.
I am sure that the new team is working towards a resolution with the Kumars', as noted in their joint agreement. I hope that current negotiations will result in
successful contractual arrangements between Tethys and the parties involved.
If this happens, I have no doubt that the future for Tethys could result in tangible returns for us.

-My perception is that the relative risk/return ratio to my investment in Tethys reached its highest level ( possibility of bankruptcy !) when Olisol breached the IA and committed illegal acts against TPL.

-When the agreement between Tethys and the Kumars' was announced the risk level fell by about 20% to 80%.

-The approval of the resolutions reduced the risk further by 10% to 70%.

-The news that Medgat Kumar had arranged sales of Tethys products via Altyn/Kyran
reduced the risk by 10% to 60%

-The announcement that Tethys commenced legal action against Olisol in Alberta
provided added confidence and reduced the risk by 10% to 50%

-When the contractual agreements with the lenders and the new trading relationships
are announced, the risk could be reduced by 25% to 25%.

A 25/75 % Risk/Return ratio should signal a hike in the TPL share price.

I sincerely hope that happens !.

[casual47] 24/2/2017 11:24

Re. last question: I am comfortable enough with the risk/reward of holding versus actual loss to be incurred of selling my shares before news to keep holding for now. I am not sure they can pull it off in a way that allows PIs to reap the dreamed multibag but if worst case is that the best we can hope for is 3-5p then that is much better than selling now.

[hguess16] 24/2/2017 08:54

Thanks Casual for your prompt and clear response.

[casual47] 24/2/2017 08:45

Yes, yes, no, yes and finally "don't know"

[hguess16] 24/2/2017 08:33

1399Peter,TI,Casual,
Your comments have prompted me to ask the following while we wait for some positive news:

- Do you not think that the new team at TPL were determined to neutralise Olisol at any cost after their unscrupulous conduct over the breach and the thuggery in KAZ ?.
- Were the Kumars' the only investors willing to take on TPL at the time when TPL
had virtually no business and zero customers ?.
- If TPL had been able to offer us 50m shares at that time at 1.593 cents per share
would you have taken up a proportion of the offer, assuming of course that Olisol
would be excluded from any take-up of new shares ?.
- Do you not think that PAM took up an equivalent proportion of shares to the
Kumars in order (a) maintain equal parity with them and (b) to keep out Olisol ?.

- Based on what you know has taken place since Nov last year, do you consider that
the new team at TPL can negotiate agreements with key third parties incl banks
and new partners which enables TPL to survive and grow its business ?.

I look forward to your response !.

[mostro] 24/2/2017 08:32

So here is the big question... I still hold 50,000 of these from 50p back some years.
Do I buy another 50,000 for about £1000 now and bring my average down to 25p area to break even?
Will anything good ever happen here? If it does, my possible new holding of 100,000 may yet be valuable.....?
Thoughts...

[casual47] 24/2/2017 01:02

I have nearly 2 million shares so I would very much like to share both of your targets but they do seem awfully unrealistic.

I'm keeping everything crossed to see it go past 3p and then I'll decide what to do with my holdings.

[temporarily insane] 24/2/2017 00:42

Crazier things have happened...did we ever think that somebody would force out management, employ somebody who would push to do over the company,and get the share price to $0.25 above sod all where Robson could have done the same thing.

This new bunch are on it, now that they have pigged out on shares worth pretty much nothing for most of the 6000 disappointed shareholders who have been bullied down

I hope for $2.00, I also wish for $9.00 but lets hope that everybody who has gorged on the remains of a company ripped apart by the old management, have had enough and this company can be allowed to gain positivity in share price.

[1399peter] 24/2/2017 00:29

TI,

Have to agree with yourself and Casual on that matter, there does seem to be a reluctance to communicate. I hope there is a good reason for that!!

Perhaps the Chinese are going to take us out for £5.00ish a share. (cos that's what we want)

Seriously though what value is placed on 11billion boe of unrisked resource (apologies if slightly exaggerated)

[hguess16] 23/2/2017 19:43

Casual,
I agree, as you say. that there is no material news yet as it will take time to come up with agreements with third parties involved in financing and other trading arrangements as these may require regulatory approval !.
Having learnt lessons from the past, I also think the new team may be more cautious in providing forward looking statements that may prove to be over-optimistic or even false in a few weeks or months as has happened previously !.

[dorset64] 23/2/2017 19:35

I think it would be fair to say that, as I see it, negotiations & agreements are still ongoing on a number of fronts. Until all of these have been finalised and new contracts signed, nothing can or will be announced.

It is not just an announcement upon an agreement, they can only openly state in a RNS once new contracts have been signed and, as far as I can tell, we are not at that stage yet.

[casual47] 23/2/2017 18:32

They may take time to make sure of being prudent but TSX and LSE have pretty stringent rules of when material news needs to be made public. They can't postpone it for too long so this alone can't explain the long wait of hearing news.

Either there isn't any material news yet or if there is they have asked to keep it on the QT for now (as they tried to do when the gas contract got cancelled).

[hguess16] 23/2/2017 18:25

1399Peter,
I do agree with your sentiments and your wish to hear some positive news from the new
team. Tethys has been involved in a near Tsunami in the last 6 months due to a bad
judgement call in agreeing to deal with Olisol.
But what is done is done !.
So far, both Wells and May have acted sensibly in trying to put out the "series of fires in its own house".
The task of reconstruction is proving to be quite a challenge even with the Kumars', their expertise and contacts in KAZ and elsewhere.
My gut feeling is that the new team are determined to get stuck in and do all it can to rescue the company and secure its future.
There are external factors and issues that require negotiation and agreement on a way forward with third parties which incl new funding arrangements and revised trading relationships, not forgetting (as mentioned before ) KAZ regulatory
requirements, ( oiling the wheels locally !).
I feel that the current delay in letting us know is due to the new team being
prudent, ie making absolutely sure of any new deals struck,and not being premature in releasing news to us.
This is entirely my perception based on events to date !. I do hope I am correct !.

[1399peter] 23/2/2017 16:45

hguess

I do not question for a second the amount of effort these guys have put in trying to protect tethy's from the oligarch at olisol. And I would be the first to commend them for that.

A fair point about the 63m shares as long as Tethy's are comfortable with it, that's fine with me.

So can we safely say that with all the legal wrangling going on Tethy's can still move forwards with all the other aspects of getting the business back on it's feet and announce funding, drilling at Klymene and other sites, gas pipe line contracts and a successful conclusion to the Arbitration.

Can't happen quick enough for us PI's, I do know that hguess, but the impatience is mainly due to the years of tail chasing and not aimed at the present team trying to sort out those legacies and save the company albeit choosing what turned out to be a nightmare neighbour as a partner.

[hguess16] 23/2/2017 13:19

1399Peter,
Tethys started legal proceedings prior to the EGM in Alberta !.
They had to first sort out the mess created by Olisol in KAZ in order to get its business moving at TAG.
There are two distinct charges leveled against Olisol.

- Breach of contract by Olisol re the Investment Agreement which relates to the failure to provide funds for the 181m shares and any consequential losses resulting from that failure,

- Damages related to the raid of TAG offices in Almaty, removal of documents, paralysis of the business and harm to its staff.

I guess that Tethys legal advisers are in the process of collecting evidence relating to the above and then requesting for an initial hearing in the Court in Alberta which may take some time as TAG is based in KAZ.
Based on the past, Olisol may decide to prolong the process of actually agreeing to
appear in the Court in Alberta. They seem to ignore the legal process !.
It seems evident that legal advice has already been obtained on the quantum of damages relating to the breach of contract of the IA as well as damages related to the disruption of TAG operations in Almaty.
As regards the 63m shares in Olisol's possession, my view is that since Olisol has already paid for this with $6.3m, they could argue that they are entitled to the shares. In fact, they actually voted against the two resolutions at the EGM with the 63m shares.
I also think that Ken May, as CEO, is trying to maintain a balance of priorities
on a number of issues incl financing, new trading relationships, operations incl
the maintenance of a stable and good relationship with the KAZ authorities.
The info provided by Casual revealed the extent of damage done to Tethys by Olisol's illegal activities, which was considerable and it took quite an effort by Ken May, his staff and, the lawyers in KAZ to try and get the TAG business back to some normality !.