Tethys Share Discussion Threads

[hguess16] 31/3/2017 08:31

TI,
" Albeit, they are bit by bit getting Tetys back to where it should be ".
That is about right TI !.
It should be realised though that the challenges are such that there are no certainties at this point. There is a large opportunity but significant hurdles remain
even with progress, made to date.
My view is that past management could not have fixed the problems that faced Tethys. It needed this new Mgt team which has its focus on " drilling oil wells " , unlike past management which accumulated short term debt with no drilling and a consequential decline in revenues.

[parthus] 31/3/2017 07:09

£127 to £178 per month... not a lot !

[benandemmiboo] 31/3/2017 06:51

New job listing yesterday for interpreter:


Aktobe
1-3 years
Duties:
Written translation of the documentation into Russian, English and Kazakh languages;
"Proof-reading" (verification) of transfers made by employees of the office and contracting companies;
Organization of interpretation;
Uploading documents to the SUN system;
Conclusion of contracts and interaction with suppliers of translation services.
Requirements:
Written technical, legal and financial translation;
Oral consecutive interpreting skills;
The candidate should know:
Terms used in the oil and gas industry, legal and financial terms.
Conditions:
Working hours: Mon-Fri from 09-00 to 18-00
Registration according to the TC of the RK

[temporarily insane] 30/3/2017 23:19

Its Tethys management!! LOL

Albeit they are bit by bit getting Tethys back to where it should be.

[casual47] 30/3/2017 23:19

Anyway, that is why i have been banging on about the Cayman loan. Because it is the first of the loans due and it's the biggest one - 8 million USD. And how it gets resolved will be an indication of where TPL is going.

[casual47] 30/3/2017 23:18

TI, i would agree. But they are cutting it fine. Tomorrow is the last day of March and we know the loan is due in March. Did it really have to go this close to the wire?

[temporarily insane] 30/3/2017 23:15

I have a feeling that the board have thought about this before signing the $6 million drilling deal.

[casual47] 30/3/2017 23:07

It's not because one can that one does, of course. And even if one does it doesn't mean it happens as it may just end up in courts or get settled one way or another.

But for sure, if TPL defaults on the Cayman loan and the Cayman lender takes steps to get their money back then I don't want to still be holding TPL shares....

On the flip side, if the Cayman loan gets renegotiated then that is a HUGE boost and a major sign of a real turnaround. Even if AGR plays nasty subsequently we can assume that with support of Khan Energy, the Kumars, Pope, ALR, Salzhanov etc that should be overcome.

[casual47] 30/3/2017 22:55

If you recall, this scenario is exactly what happened with Nostrum when they claimed TPL had triggered an event of default on its loan by being unable to pay for the Tajikistan project. See below snippet:

"Tethys this week also revealed that it missed a deadline for cash-calls relating to an exploration joint venture with Total and China’s CNPC in Tajikistan. The partners subsequently requested Tethys withdraw from the venture, though the company said it intends to use “all commercially reasonable efforts” to protect its interests in the project.

Nostrum, according to Tethys, issued the notice of default due to the company’s announcement regarding the Tajikistan venture."

[casual47] 30/3/2017 22:43

D64 - it's in black and white on the contracts I've seen on SEDAR. Look under events of default. E.g. "Borrower becomes insolvent or unable to pay its debt"

You can simply check yourself. Look for
"Other material contracts - English" and you should find a few examples.

[dorset64] 30/3/2017 22:11

Casual I disagree and have never heard of any company defaulting on one particular loan, only for that to then trigger default on every other loan held, irrespective ifbits a banking loan, a private lian or any type of loan. Thats simply not correct.

[casual47] 30/3/2017 19:28

D64 - just coz it's the first one due. I originally thought it was due end of January/February as it was signed mid January 2015 and would mature after two years from first drawdown but last RNS stated it's this month.

While it is unsecured, a default on a loan will normally trigger default clauses of all other loans.

[dorset64] 30/3/2017 19:19

casual by the simple fact that we know they are negotiating with ALL lenders, the fact that they have only yesterday signed new contracts that in themselves will not be paid off in more than a years time should be telling you that those on the inside know far more than us.

Additionally the loan you keep mentioning, week in week out is an unsecured loan so even if Tethys did go bad on it, they the lenders can do nothing about it. I agree/understand with a lot of what you say but why worry sooooooo much about this one particular Caymans loan, I don't get it?

[casual47] 30/3/2017 18:31

The main thing i am waiting for, and have been grumping about since before Christmas is the Cayman loan being renegotiated.

It will also be interesting to see what they say under "going concern" in the 2016 results. I guess they cannot claim to be a going concern if they haven't renegotiated the AGR and Cayman loan.

Going concern = company that has enough money to see through the next 12 months.

[casual47] 30/3/2017 18:27

Why are Olisol not allowed? Nothing stopping them. Even if via a 3rd affiliated party.

Not saying they are, i was half joking

[wrighty46] 30/3/2017 18:19

I hope it's someone that's in the know, and knows more than us mere pi's. But I am alot happier here now than I have been for a long long time. GLA.

[casual47] 30/3/2017 17:51

Perhaps it's Olisol!

[wrighty46] 30/3/2017 17:44

I personally hope they come out tonight after close in Canada. No specific reason.

[wrighty46] 30/3/2017 17:42

So we have a big buyer both sides of the pond. Interesting. Also will be intrigued how they deliver the results either tonight or tomorrow. If they add extra news on as well.

[ratfan] 30/3/2017 17:13

I'm with hargreaaves landsdown so hopefully should be straightforward to keep them in the isa

[hguess16] 30/3/2017 17:01

I have received this note, following some of the concerns expressed by PI's holding SIPPS and ISA's from Clive Oliver, CFO & Corporate Secretary;, Tethys
Petroleum Group of Companies

" Two of the most popular providers of SIPPS and ISAs which are tax efficient savings schemes in the UK allow investments in international markets incl Canada. They also encourage transfers and consolidations of existing SIPPS and ISA's from other providers. They are:

Hargreaves Lansdowne and
AJBell You Invest.

Regards,
Clive Oliver
CFO & Corporate Secretary
T [phone]
M [phone]

Hope this helps !.

[casual47] 30/3/2017 16:36

It is boggling, TI.