Tethys Share Discussion Threads

[dorset64] 29/3/2017 14:38

That'll be Robson for ya chestnuts!!

[devonlad] 29/3/2017 14:36

Chesty, how's it going bud? Chinese are always cheaper, more local and efficient, I wouldn't worry about that too much!

[chestnuts] 29/3/2017 14:34

When tpl drilled any gas wells with there own drill riggs it cost $1m with an outsider costs down to $600k smell a rat.

[temporarily insane] 29/3/2017 14:31

c/o Mazzmez Stockhouse

Great Wall Drilling Company Limited fabricates and operates oil rigs and provides oil field services. The company was founded in 1990 and is based in Beijing, China. Great Wall Drilling Company Limited operates as a subsidiary of CNPC Service and Engineering Ltd."......................................CNPC is China's largest oil and gas producer and supplier, as well as one of the world's major oilfield service providers and a globally reputed contractor in engineering construction. With a presence in almost 70 countries, we are seeking an even greater international role. We provide energy in a profitable manner, and always attach great importance to our social and environmental responsibilities.(

[casual47] 29/3/2017 14:27

CNPC has nothing to lose regarding Taj so I can't see them having the hump over it.

Either TPL will have to repay them for the money they had to make up for with Total, or both Total and CNPC will get some or all of TPL's Taj share.

[dorset64] 29/3/2017 14:26

casual4729 Mar '17 - 14:20 - 14180 of 14181

I am on the cautious side for now...
===============================================

PHEW!!! At least you've cleared that up Casual, I would had never known :)

[dorset64] 29/3/2017 14:23

Hi Devonlad, that was my point, if they are anything to do with CPNC and the issues surrounding Taj were beyond approach, then surely they wouldn't be going anywhere near TPL. Who know's.

[casual47] 29/3/2017 14:20

Wright -- your broker isn't barclays, right?

I am on the cautious side for now, with the loan extensions not yet being agreed/funding need not resolved on one hand and the risk of further selling down from PIs to exit before delisting on the other, but then my averages are not too bad.

Depending on further news I may put a limit order in just in case there is a rush to the exit the last day/few days. If it gets triggered, great, if it doesn't at least I have derisked with cash in the bank.

[devonlad] 29/3/2017 14:20

errr. aren't CNPC taking TPL to court over Taj, if that is true then that would indicate that the relationship between the two is more than amicable and also that there is a lot more hope that Taj could still be an asset to this company, nice find ratfan!

[dorset64] 29/3/2017 14:16

Well I have bought a few back of those I sold in haste upon the delisting RNS, and am more happy today than I have been for a while in that Tethys will be around for a while yet, but still a bumpy road ahead.

If we can sort Olisol out then everything is up for grabs again. I will now wait for the results as they will be horrid, and no doubt the share price may well drop again but will buy a few more back then too if all is well.

[wrighty46] 29/3/2017 14:15

Also on a side note this news I feel, would of seen us rise today, but obviously the uncertainty of the upcoming De listing will put alot of potential buyers off. IMO.

[wrighty46] 29/3/2017 14:12

Nice 1 Dorset, like was eluded to earlier, surely the bod wouldn't be announcing drilling contracts etc if they aren't confident of sorting loan issues and financing. And also agree this is probably the most positive piece of news here for a couple of years. Casual I've been fortunate, my broker will accommodate TPL in my ISA and I can buy/sell just waiting for it to be confirmed in writing.

[dorset64] 29/3/2017 13:57

Perhaps CPNC have been introduced to the Kumars....

[ratfan] 29/3/2017 13:46

Great Wall Drilling Company looks to be a subsidiary of CNPC so hopefully should be fairly competent in getting the job done!

[dorset64] 29/3/2017 13:46

Great news for a change, and as with every release from Tethys, you also have to read into what is not in this release.

By the simple fact that they have mentioned the payment terms for this contract being the way it is, should surely give investors more confidence that TPL are here to stay.

Likewise the fact that the previous lenders are happy to discuss and, to date, put back any hope of receiving their monies until such time that 1, Olisol have been dealt with in an amicable or 'other' way and, 2. that Tethys will be in a position to actually be able to pay back the sums needed.

The fact that they are about to sign a contract for future drilling and optimisation of current wells should also tell you where they believe this company is going.

I for one will give them a pat on the back for this release, as long as they carry through with it, as opposed to my normal moaning like hell at them about everything they release. I will STILL be moaning about the cost to current shareholders that the de-listing may cause some current holders.

edit: That was my buy of circa 407k shares

[temporarily insane] 29/3/2017 13:24

Exactly my thoughts Devonlad.

[devonlad] 29/3/2017 12:59

Cheers TI.

On reflection, I don't give a toss where the shares are traded as long as the bloody price goes up and the only way that is going to happen is if they increase in production, suddenly excited! Also, I have a hunch that moving to the Toronto listing only might have something to do with the ongoing legal battle with Olisol, it would certainly simplify a lot of legal loop holes and issues for them and they can always re-list later on down the line.

Increasing production, well I very never!

[neilyb675] 29/3/2017 12:58

Great stuff✔

[casual47] 29/3/2017 12:56

TI, if they can postpone the loans and get funding the sky is the limit. They sit on one of the best gas and oil assets in the region and with easy access to China.

That's the two things we're waiting for news on. Shouldn't be much longer.

[temporarily insane] 29/3/2017 12:47

Devonlad, our posts crossed.

Totally agree. I guess this hopefully is the bottom of the share price.


Onwards and upwards.

[temporarily insane] 29/3/2017 12:44

NOW I MAKE THAT GOOOOOD NEWS!

[devonlad] 29/3/2017 12:44

Wow, increasing production, wonders never cease! An update on the gas supply contracts and prices would be great, at least now TPL will get paid for its gas and probably at a better price! That is probably the most positive news that has appeared in the last two years!

[casual47] 29/3/2017 12:27

Ben - it seems to be going close to the wire, the Cayman/Khan Energy loan must have been in discussion for months now. Maybe Khan energy is holding out for extra security or assurances? Pope/ALR put a clause in their renewed loan agreement that gives them veto or the same entitlement should a lender want security.

AGR don't have much reason to be cooperative but as they are non-secured what can they realistically do? A default on AGR would of course trigger defaults on all other loans.

[benandemmiboo] 29/3/2017 12:22

Thanks Casual, just saw this. Hope and assume the debt due in March will get delayed.

[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.