Tethys Share Discussion Threads

[casual47] 11/4/2017 19:09

And I'd say the majority of PIs in UK haven't yet decided what to do with their shares, hold in TSX or sell.

Perhaps a large number even put TPL in the bottom drawer and will only find out about the delisting when they get the letter from their broker.

So some more uncertainty to go on this....

[hguess16] 11/4/2017 18:33

DE-LISTING
As much as I support the new team at Tethys, I must admit though that the
de-listing decision was, and is a distraction which has had a negative impact on the share price
The positive actions that have been taken by the new team, incl its decision to drill more wells, optimise its extraction of existing wells, the installation of a mini-compressor and the rescheduling of its Cayman loan to 2019, have had little impact on the share price as the prior announcement of the de-listing has created uncertainty among UK investors and wiped out any potential gains in the share price
As I mentioned before, if the de-listing decision had not been taken, I would have expected the share price to be well above 2p at least !.

It is never too late to re-consider such a decision,( which is intended to reduce costs and red tape), when it results in a loss of confidence and future uncertainty and a consequential significant loss in the market value of Tethys !!.

[1399peter] 11/4/2017 17:12

And it's the de-list doldrums until then by the looks......Zzzzzzzzzz

[temporarily insane] 11/4/2017 15:37

benandemmiboo, I think your last comment is pretty familiar with most of us financial losers here including myself.

Thats the biggest frustration with this share. Meanwhile we can all look forward to joining TSX.

[temporarily insane] 11/4/2017 15:34

But in a funny way Dorset64 I understood that oil exploration companies find oil. ;-)

[benandemmiboo] 11/4/2017 15:33

Yes, I made a lot of mistakes re: my investment. I did not foresee any of the catalysts (AGR merger; Nostrum deal; Olisol deal) from failing to happen, so never accepted losses to move my funds elsewhere. I always thought: just one more month.

I definitely underestimated the risks, not just in the deals not happening, but in the illiquidity situation -- which seems almost permanent in TETHF shares except when we receive extremely negative news.

[dorset64] 11/4/2017 14:44

So, perhaps Benandemmiboo made a mistake investing in Tethys in the first place. They invested without understanding how this exploratory company (and the majority of exploratory companies) work.

:)

[benandemmiboo] 11/4/2017 14:07

So if PAM wouldn't have backed a dilutive financing needed by Tethys to stave off bankruptcy, perhaps PAM made a mistake investing in Tethys in the first place. They invested without understanding how this exploratory company (and the majority of exploratory companies) work.
Anyway, going to park with kids.

[casual47] 11/4/2017 13:41

D64 - I'd hope sooner than later though - end of this year hopefully.

Also, i am deeply uncomfortable with the incestuous relationship of TPL selling its oil to companies belonging to directors of the company. Customers should not be directors.

[dorset64] 11/4/2017 13:37

Casual, in time I would agree but bringing in an expensive CEO or other right now would be pointless.

Ken & Bill are doing right now what they should be doing, ie. trying to sort out the finances in order to survive, whilst at the same time re-commencing shallow low cost drilling to show suiters/lenders/funders/jv's that there is light at the end of the tunnel.

Once the above 2 have been achieved, then by all means lets get some serious O@G peeps on board who can then take us on to a further level, but lets not run before we can walk without any support.

Best of luck in the future fishoutofwater.

[devonlad] 11/4/2017 13:36

benandemmiboo11 Apr '17 - 13:05 - 14516 of 14519 0 0

You are wrong, Dorset is right, the business was within weeks of Robson going to PAM to do yet another issue of shares and PAM wouldn't back it and were pulling the plug. Robbo to all intents and purposes was on a gravy train and was milking it for all his worth.

Fact, TPL was going bust! Not saying that what has happened since has been fantastic though!

[temporarily insane] 11/4/2017 13:22

The amount of time we have all been in this we are all a lot closer to retiring or is it the stress of everyday silence that is causing us to age prematurely!

[casual47] 11/4/2017 13:17

I think we can agree that going forward it would be good if TPL could get proper O&G folk leading this company, whatever the merits and motives of Bill and Ken are.

Besides the fact that Bill is running a fund for sure we should not have one of the company's main lenders as Chairman.

While Ken has had oil experience he clearly isn't a big name in the industry and is close to retiring age already.....

[fishoutofwater] 11/4/2017 13:06

Just dumped my position...my broker does not faciltate TSX trading and I could not be bothered transferring this elsewhere frankly. Glad it's all over for me...even after swallowing a loss...as this has and continues to be an utter shambles. Good luck to all who are keeping the faith all the same.

[benandemmiboo] 11/4/2017 13:05

Dorset64, we'll simply disagree. There are some CEOs who can pull rabbits out of hats, and some who cannot.
With most exploratory companies, it's simply impossible to predict when good mergers, buyouts, or deals get made, and when you have a mgmt team with good connections, it seems a poor investor strategy to doom them before it happens -- because it's very rare to see competent mgmt with good properties be unable to sell their assets when push comes to shove.

[dorset64] 11/4/2017 12:35

benandemmiboo11 Apr '17 - 12:13 - 14512 of 14514

Dorset64, I do not think your bankruptcy claim is valid as it presupposes a sort of unwillingness or inability on the part of Robson to make deals. Given all of his past deals, why does one simply presume he would have suddenly been in over his head?
===========================================================

Ben, not being unkind but if you were around here at the time, or indeed spoke to the then directors and those of whom have surpassed them, plus taken a look at the accounts/info in the public domain, you will soon understand that yes, Robson was taking Tethys to the wall, and if he wasn't taken out, it would had happened within a few short weeks.

[benandemmiboo] 11/4/2017 12:28

hguess, there's no coup here -- but who shouldn't have buyer's remorse?

[casual47] 11/4/2017 12:20

Major shareholders as of 1st of April have been published on KASE website. There has been no change.

Pope 87,903,396 shares, 17.30%
Olisol 63,044,461 shares, 12.41%
Jin Guang 43,951,698 shares, 8.65%
Prax 43,951,698 shares, 8.65%

[benandemmiboo] 11/4/2017 12:13

Dorset64, I do not think your bankruptcy claim is valid as it presupposes a sort of unwillingness or inability on the part of Robson to make deals. Given all of his past deals, why does one simply presume he would have suddenly been in over his head? Furthermore, if the situation arose, he too could have sold the company, as well, and he sure seemed to be a good salesman.

That Robson and his team paid themselves handsomely is known. Just as it's known that Stan Bharti's Forbes Asset Mgmt team (who also receive consultation fees for each company under their umbrella, so seem a good comparison) pay themselves handsomely. And one of Bharti's companies that people would have presumed to go bankrupt (QMX Gold) has jumped 2000 percent in the past year after some deals from Bharti's team. It's not like anyone could have predicted that sort of jump for QMX Gold before it happened, but it happened -- because of a mgmt team with good connections, and good property (which appeared a shared asset between all Robson and Bharti companies).

[hguess16] 11/4/2017 12:03

TI,
The 1.5p is an indication of the " past misdeeds and hype " which has resulted in a lack of confidence and an expression of utter disappointment !.
Keep the faith with the new team as there is no other choice at present !.
It's Wells, May and his team who can try to keep this shaky business afloat
OR ELSE
Its curtains for us all !.

[1399peter] 11/4/2017 12:00

Personally I still think the Kumars are lining someone up to buy Tethys outright or just Taj perhaps, as I know the Kaz Gov weren't keen on the Chinese having too much of a foot hold in the country. But times change and needs must, and all that.

[temporarily insane] 11/4/2017 10:08

I know there is more potential now with the new management but we are only 1.5 pence above bankruptcy and we have all been teased for the past year with blah blah making no difference to the share price.

[dorset64] 11/4/2017 09:20

Ben it is well know and understood that if the Robson regime continued, within only a couple of montgs or even in weeks, Tethys would had collapsed into bankruptcy.The above is a fact Ben.

[hguess16] 11/4/2017 08:36

Here are the highlights of Robson's handout in 2013 when I first met him and had a
discussion with him in London.

- COMPLETED farmout of Taj Asset to Total and CNPC, received $63mm
in cash plus retain 33% carried interest

- ACQUIRED STRATEGIC position in Georgia ; Conventional and Unconventional oil plays

- SIGNED DEAL TO sell 50% of KAZ assets to SinoHan
Price $75mm plus bonuses, subject to Kaz State Consents

Following the discussion, I fell for his patter; hook, line, and sinker and made my first investment in Tethys !!.

None of the above has materialised as proposed by Robson and, investors have been misled since 2007. Meanwhile Robson and his team rewarded themselves through service contracts via Vazon, his own service company.

Following the study by Macquarie, the independent consultants employed by Bell, it was decided that the SinoHan deal was ineffective and should be terminated due to
objections and delays caused by the KAZ Govt !.

Following the Olisol betrayal, Wells,May and the new team are the " last men standing" and making an effort to keep the Tethys ship afloat !.

[northwestwirral] 11/4/2017 07:17

Thanks - rogsim - 14494 & Neilb675 - 14497.

Now feel a bit more comfortable leaving my holding with HL and if needed transferring to TD Direct later.