Tethys Share Discussion Threads

[casual47] 29/3/2017 12:17

Update on Gas Drilling program and Extension of Related Loan

GRAND CAYMAN, CAYMAN ISLANDS - Tethys Petroleum Limited ("Tethys" or the
"Company") today announces that Great Wall Drilling Company was the
winner of a tender for a ten well shallow gas well drilling program.
Tethys now has ten (10) days to sign a contract with Great Wall, the
cost of which drilling is expected to be approximately $6 million USD.
The Company will have until the end of 2018 fiscal year to pay these
costs and expects to be able to pay from increased production. Following
mobilization, the Company hopes to begin drilling on or about May 1,
2017. Additionally, the Company will work over three existing wells and
tie in two wells drilled but not tied into production. This program is
designed to add twelve (12) or more new wells to existing production.

The Company also announces the signing of a lease contract with MSI to
build and install a mini-compressor in Bozoi. Installation is expected
during the July 2017 time period. This is new technology for Central
Asia and is intended to enhance gas production prior to the new wells
being tied in. After new production is tied in, then the mini-compressor
will be used on older wells to extend the life of wells.

While the Company will continue to reduce operational costs, our focus
this year is increasing production of both oil and gas. Additionally, we
will seek to enhance pricing. Until these goals can be achieved, Tethys
will continue to experience a cash flow problem and a need for funding.

The Company has received approval of the needed lenders to extend the
$3.5 million loan that is secured by the drilling rigs of the Company by
18 months to August 2018. Additionally, the Company is in discussions
with both Khan Energy and AGR Energy to extend the indebtedness owed to
each of them which is currently due in March and June 2017 respectively.

[benandemmiboo] 29/3/2017 12:15

Hguess is less a pumper of Tethys than a pumper of Wells and PAM. Since he joined this board after the Olisol deal collapsed, it seems as if Wells felt there was a need to have some (paid?) voices defend him.

[casual47] 29/3/2017 12:15

Interesting mix of news - I'm half excited and half cautious.....

Great news re. start of drilling versus news that Cayman and AGR is still being negotiated.

Seeing as that news is out there is no need to wait for annual results to be released?

[casual47] 29/3/2017 11:50

What is not true in what i have written?

Please specify. I'll wait.

[casual47] 29/3/2017 11:49

Interesting that there was an early morning auction, haven't seen that before. (Usually see it at 4.30pm)

[casual47] 29/3/2017 11:36

Again, comparing PAM's situation with that of a mere PI is a false comparison and COMPLETELY meaningless/unhelpful to consider a PIs prospects as a shareholder.

PAM can protect itself in all sort of manners that simple PIs cannot.

They can ask for more shares to be issued to them cheaply, they can ask for security on their loans, they can still easily hold even if TPL goes private, as they are lenders they can benefit from a bankruptcy.

[hguess16] 29/3/2017 11:24

rjdavey,
I think the average cost per share for PAM could be higher than yours and if PAM
is determined to to stick it out, then the future in the medium term could be green
for all of us.
PAM was one of the first to invest in Tethys and even though they are giving themselves additional shares and warrants at much lower prices, the average cost could be well over 15p.

[redstone64] 29/3/2017 10:46

Hguess16, Casual47 thanks for your comments on my post. Perhaps we won't get more clarity than the unofficial comments on the case for moving but just making the point that more transparency would help in this instance.Regarding the idea of a 1:10 reverse share split, I was only thinking as part of the transfer to TSX or shortly after to the benefit of all as for instance the current price would immediately change to somewhere between 20 and 25 cents and the MM would be able to set a spread like on TSE for example 21 - 23.5 thus making more attractive for active trading.

[rjdavey68] 29/3/2017 10:25

Rang Selftrade this morning to see if I can continue to hold TPL in my isa and was slightly surprised to be told yes I can. With an average of nearly 15p I've pretty much written these off and hold till the bitter end one way or another!! One day, just once, ever, it would be good to get an rns that could properly be considered positive instead of relentless knockbacks!

[casual47] 29/3/2017 10:24

R64:

1) I think what you'll have to settle with is D64's email response which he posted here (few pages up). I would think you won't get far getting anything formal.

2) Yes, it does move in 0.05 increments, which is how TI has been driven near crazy by tiny sales which move the share price 20 percent. As far as I know (google, wiki) the 1 cent coin was abolished and since then they round up to the nearest 5 cents. Could this be the reason? If so, a reverse split is not going to help but maybe a consolidation would be better?

3) Can't see it happen. The horse has bolted.

[casual47] 29/3/2017 10:18

Holding up OK so far, despite bigger sales than buys: 746,775 sells vs 100K buy this morning. Similar yesterday.

[hguess16] 29/3/2017 08:27

Interesting thoughts Redstone !.

My observations are :
Following the delisting announcement, the TPL share price dropped from mid 1.88p down to mid 1p and at present trades at mid 1.25p. It might fall further depending on uncertainty. Who knows !.
The Kumars bought in at 1.27p.
If and when the Kumars and PAM convert their warrants within the next 12 months,
they would control over 60% of the total TPL shares.
PI's who are currently invested in TPL and consider it a good bet in the medium term have had and still have an opportunity to buy TPL at current pre delisting prices.
PI's also have an opportunity to transfer their holdings prior to May 2017 with suitable brokers in order to trade TPL shares on TSX.
I wonder if TPL would consider a 10:1 reverse stock split purely on the basis of a delisting, also noting that some PI's trading on the LSE also use brokers like TD Direct which also trades on TSX.
Anyway, do give it a go and see what happens !.
I wish you good luck !

[redstone64] 29/3/2017 07:52

Morning all, hope to keep as brief as possible...I've been following events originally from the LSE board, then stockhouse and Advfn but not posted until the delisting announcement which has led me to crawl out of the woodwork.I did, however, respond to the call by Devonlad to gain consensus on ousting the previous board. Indeed Bill Wells should not forget that PIs have an important role to play in such actions.Thinking more about the move to TSX and the need to improve liquidity and restore confidence as the company rebuilds which should also be in PAMs and the Kumar's interests, here are some suggestions:1) Can the due diligence made weighing up TSX vs LSE listings be sent to affected shareholders?2) From what I see in TSX is it only possible to bid or ask in 0.5 cents units which means the spread is fixed at 20% at current prices. I read this is an exchange restriction. Buy and sells on LSE can be increments of 0.01 pence. If this is confirmed then what about a 10:1 reverse stock split?3) As we are finding out the move to TSX is time-consuming and may involve additional costs especially if we have different holdings in ISA SIPP etc. In order to keep a vibrant core of PIs from LSE and show commitment why not issue options to shareholders that transfer to keep a loyal base of PIs around which is needed to inform new investors as they arrive when we (finally) start getting news?Just some thoughts...

[neilyb675] 29/3/2017 07:23

Thanks Dorset.

I have enquired to Shares Centre advertised on this site.

[dorset64] 28/3/2017 23:41

Neily, TD Waterhouse trade in Tethys shares and all others on the TSX exchange.

[neilyb675] 28/3/2017 23:06

this is the corporate action message from Halifax...

"The Cancellation is expected to become effective on 2nd May 2017. You should be aware that if you have not sold or otherwise transferred your shares prior to the Cancellation of Listing, you will not be able to sell or otherwise deal in them on the LSE after that time.

Please note that, after the Cancellation from the LSE, all trading in Tethys shares will be concentrated to the TSX and as a result we will be unable to facilitate trading in Tethys shares via our sharedealing facility.

If you wish to trade in Tethys shares you will need to establish an arrangement with an alternative broker. Should you wish to do this, please contact our call centre with the details of your chosen alternative broker and we will facilitate the transfer of your shares to them at no cost to yourself. Please be aware that you will need to have contacted your chosen broker in order to complete their necessary transfer process prior to contacting our call centre."

Anyone recommend who I should transfer the shares to, as I want to keep them....?

[1399peter] 28/3/2017 22:19

Not seen it like this before though. Tight as a Ducks


Open: N/A
High: N/A
Bid: 0.00
Bid Size: 0.00
Beta: 1.353

Prev. Close: 0.025
Low: N/A
Ask: 0.00
Ask Size: 0.00
VWAP: N/A

[casual47] 28/3/2017 20:16

Was there ever any major movement in TSX? I recall big purchases from PAM but otherwise....

The guys on Stockhouse talk big but it seems they play very small.....

[1399peter] 28/3/2017 16:08

Have the Canadians got another day off or something. Nothing on Bid or Offer.

Tumbleweed in Toronto.........

[temporarily insane] 28/3/2017 13:24

Lets see what the future holds.

[casual47] 28/3/2017 13:02

PIs hold around 50% of all shares, so around 250 million shares. Let's say it's 50/50 TSV/LSE, that means there could be 125 million shares for which the PIs will decide either to move onto TSX or to sell before delisting.

Total volume since the delisting announcement hasn't even been 10% of that.

Will be interesting to see what happens!

[neilyb675] 28/3/2017 11:51

Research daddy ✔

[casual47] 28/3/2017 11:40

Last year it was on a Tuesday (29th).
2015 it was on a Tuesday (31st)
2014 it was on a Monday (31st)

[temporarily insane] 28/3/2017 11:32

I think we have digested enough of the managements mistakes.

Time for them to post something positive.