Tethys Share Discussion Threads

[ridicule] 24/4/2017 09:05

I have just had a letter from my broker - Jarvis. They state I either sell my shares in TPL or pay £25 to their overseas custodian to manage them; a minimum of £25 per future trade and a holding charge of £3 per month + VAT forever or as long as I hold them. Thanks a bunch Tethys BoD.

[wrighty46] 24/4/2017 08:38

Had a reply from Clive Oliver over the weekend, which is below. So now awaiting an update Tuesday or Wednesday ish. I must say Clive has been very helpful. As I'm probably only looking to sell sometime in the future and not trade, I will await an update. I think I have exhausted most online brokers here and they don't seem to want to accommodate tpl if you are holding paper shares. I'll let you know how it goes. GLA.



Please see reply below I received from the Canadian registrar. I will have a call with them on Tuesday as suggested and then provide you with further details. CDS stands for Canadian Depositary for Securities. It
is basically an electronic settlement system where shares are held in uncertificated form - the Canadian equivalent of the arrangement we have had in the UK with the Capita Depositary Interest and CREST.

"he would need to transfer his shares to his broker so that they are in CDS. We can walk through this process next week. Please let me know if you are available Tuesday morning for a call."

Regards

Clive Oliver
Chief Financial Officer & Corporate Secretary
 
Tethys Petroleum Group of Companies  ;                                                   
T +44 xxxxxxxxxxx; M +44 xxxxxxxxx  ;          ;          ;          ;

[northwestwirral] 24/4/2017 07:37

Reply from HL on Sunday 23rd April 2017

I can confirm once we have received full details of Tethys Petroleum plan to relist we will contact all of our clients that hold shares with regards to their available options.

At this point in time we are still awaiting full details from the company.

[neilyb675] 24/4/2017 06:45

Anyone got a translation of the above garbage?

Yours sincerely UKIP

[stephen loo] 23/4/2017 22:41

I don't think it's correct and fair, that they didn't give us to other shareholders a possibility to buy additional equities by the Kumar's price. We've been told all time-wait, wait, no other option. There is always a choice! I feel, that there is an unfair fame. Pope has got control on Tethys. Honestly for me, the share price is important. Doesn't matter how it changes and who rules, there is no big difference if, there are professionals. Right now we can see catastrophic low shares price! I've learned whom of the big shareholders did buy shares and which price. Take attention on this. The most expensive price has been paid by Olisol. Who can tell me, why did they do that??? Right now no investments come to Tethys, and that's bad. It's possible to believe that new wells will be a salvage, but how it's gonna work? How much money do will Tethys get from selling of new gas?
I'm going to visit London soon, and would like to meet with Ken May, to explain me what's going on. It's important to have meetings and talks. For me, the invested amount is quite big number to keep silent and take patience.

[hguess16] 23/4/2017 08:55

Late Dr Robson, "Dr Oil".
In my view Robson was only interested in expansion at any cost ( Classic overtrading ). Some oilmen get this over exuberant bug to explore with no regard for the investors, who fund the exploration. It is a form of pyramid selling with no prospect of dividends as these oilmen keep on building the empire by farm-outs and asking for more money to go on exploring more fields.They are also excellent at
selling their expertise and know-how in developing countries and build an aura of
greatness about them. Investors are attracted by the headlines of proven and probable reserves and the hype orchestrated by these "Dr Oil" experts.
"Dr Oil" expects the share price to keep on rising and new investors to make their return on even more possible farm-outs negotiated with oil companies and new investors who are attracted to the "ever increasing oil pot" of proven and probable reserves being accumulated.
Unfortunately for us PI's at the bottom of the Robson pyramid, the music stopped when the Sino Han deal fell through !.

The Pope/Kumars Deal
I am guessing here about the deal between Pope and the Kumars !.
It is feasible that the heavy dilution to invite the Kumars is two fold.
First, at all costs, prevent Olisol from taking control by diluting their holding in Tethys. Hence Olisol's frustration and anger that they have been squeezed in their sensitive parts!.

Second, the sale of shares at 1.593 cents PS and the conversion price at 3.1cents PS is only (25% ?) part of the deal. Wells/May may have a deal with the Kumars to take up the Tethys oil and gas output. It effectively cuts out Olisol/EGG and also opens up a new partnership with the Kumars link in KAZ, ie Prax AK with access to other markets incl the China pipeline.

So my view is that the opening of 12 more wells/mini compressor deals are just the start of an expansion plan to meet the increased demand for Tethys oil and gas from the new partners !.
Mind you, AGR Energy is lurking in the KAZ shadows and Tethys have to strike a deal with them !.

Am I an optimist in this scenario ?. I have to be: No choice !.

[benandemmiboo] 22/4/2017 20:37

If Pope concluded Robson's crew was only interested in lining its own pockets, they were wrong. Again, I understand annoyance about consultation fees, etc -- I've invested in some of Stan Bharti's companies, and his Forbes Asset Mgmt is notorious for the consultation fees -- but the company, its share price, and its market cap did grow since its inception.
And as for equity dilution, hard to compare anything in the company's past than the recent dilution by Pope and the Kumars. The Kumars could have simply been hired in exchange for the oil/gas they wanted, and Pope (if it cared about shareholders) could have went a different route to extend the debt due to it. Choosing to dilute shareholders an extra 20 percent over a million or two is definitely not a friendly move by POPE.
That said, I agree that one simply has to hope for the best now, as what else can what do? Stock is so illiquid in US that it's like my own assets are frozen. I still have $59000 worth of Tethys shares (2151000, now valued at .099 a piece) and it's forced me to take loans and contemplate what I will do if the investment takes me into bankruptcy. Hasn't been a good year so far. But it will get better??

[hguess16] 22/4/2017 15:59

TI,1399Peter,
I need to keep reminding myself that Tethys was a creation of Robson. He and his
team established the terms of exploration in KAZ, Taj, Gerogia and Uzbekistan.
He then invited investors to come in and PAM became one of the major investor with JPM and Capital Investors.
The UK PI's came in as investors in the secondary market; the LSE.
PAM is the only investor left of the old crowd, after JPM and Capital Investors left the sinking ship after PAM requested Robson to resign.
Why ?.
Because PAM felt that Robson was only interested in lining his own pockets with his
team.
The bids to acquire Tethys by AGR, Nostrum and then Olisol followed. All of those
bidders had their eyes on the assets of Tethys.
PAM is the only original " last man standing " and has to contend with AGR and Olisol !.
Do we, as PI's,have a choice !.
As a PI, I have to hope that PAM has made the right decision in selecting the Kumars as partners in an attempt to sort out the past mess.
I am invested up to my "eye balls" and hoping that the new team will deliver !.
This is my version of the summary of the Tethys Saga to date !.
I am hoping that the wait is worth it !!.

[stephen loo] 22/4/2017 15:29

TEMPORARILY INSANE - - - Agree with you. I've analyzed Tethys's statements. They claimed that costs have been reduced, but there are no specific numbers. How much money management have been paid? How much do they spend on their costs? Also I've learned some of management's biographies. Ken May is not an oil experienced man at all, and doesn't really know oli production industry. And there are still some people who work since Tadzhikistan' s case, where problems are still actual.
Why exactly Ken May is the CEO?
The only answer comes to my mind, is because he is american and string along with BOD.
Ok, let's imagine for example Tethys won all court cases , what happens then? What profit will they get from selling new gas? What is the amount? Claims, claims, statements, statements, promises, promises! That's very interesting. They say that the investment amount into drilling will be 6 millions $ until 2018. This is ridiculous small number. How long will we wait for our dividends? Up to 2060 year? Have a look at Tpl's audit report , you'll see... I can't look at all this with no emotions...

[1399peter] 22/4/2017 11:25

Yep, it's a mess alright. The de-list ultimately brought about by getting into bed with Olisol could now be turned in our favour, if my assumptions are correct of course.

We didn't have anyone else queuing up to help us though, just screw us over the same as Olisol. Although you could say AGR were a life line of sorts.

But it's still a f##king mess, but a mess moving in the right direction lol.

[temporarily insane] 22/4/2017 11:04

Benandemmiboo why dont you get in touch with Bill Wells and suggest he looks into it. Maybe he could close that exchange down as well to save a few $.

Maybe he needed to keep that one open to get the share price down to where he could change the price for converting this loan.

Who the hell knows, the BOD are better at keeping their mouths shut than they are at trying to sell the positives. Bloody stupid idea.


My question is, how many bloody idiots who work in the oil industry have we had working for Tethys????? ;-)

[hguess16] 22/4/2017 11:02

I hope the under performance of the stock is temporary and caused by the delisting saga and that once that is over, we could see a better reflection of the real value of
Tethys in the market.
Most of the bad news is behind us !.
The Court case in Alberta is no doubt crucial, but it is a contractual dispute between
Tethys and Olisol.

[benandemmiboo] 22/4/2017 10:50

Just found this info on TETHF stock (hxxps://highpointobserver.com/kosmos-energy-ltd-kos-analysts-see-0-02-eps-tethys-petroleum-ord-tethf-sellers-decreased-by-9-09-their-shorts/):

TETHYS PETROLEUM ORD (OTCMKTS:TETHF) had a decrease of 9.09% in short interest. TETHF’s SI was 50,000 shares in April as released by FINRA. Its down 9.09% from 55,000 shares previously. With 3,700 avg volume, 14 days are for TETHYS PETROLEUM ORD (OTCMKTS:TETHF)̵7;s short sellers to cover TETHF’s short positions. It is 0.00% or $0 reaching $0.0099 per share. It is down 50.00% since September 14, 2016 and is downtrending. It has underperformed by 60.82% the S&P500.

When BID and ASK prices do not correspond with Canada or UK markets, and when most trades I have made on it do not even show up on the TETHF ticker as if they've been made, it sure seems as if something is fishy going on here.

[benandemmiboo] 22/4/2017 10:31

It would be great if the drilling is not delayed, and that drilling news might return some coverage to the stock.
As for court stuff, prayers are needed. Hopefully they get answered.

[temporarily insane] 22/4/2017 10:21

Why cant Tethys management not tell us when all this hassle will conclude between the two parties.

A completion date needs to be adhered to even in such a country as Kaz.


Why dont Tethys BOD force a date so everybody knows what is going on.

[1399peter] 22/4/2017 09:34

hguess


I have got no problem with that. I do think the legal stuff will be a brake on the share price until its conclusion though.

[hguess16] 22/4/2017 09:13

1399Peter,
I expect "clarity" news on the drilling commencement and possibly a pre sale of proven reserves earlier than a resolution of the Court case in Alberta !.

[hguess16] 22/4/2017 08:04

1399Peter,
" Olisol's assets frozen". Are you serious ?. You must be joking if you expect a KAZ Court to freeze Olisol's assets !!.
Last year Abramov got the KAZ Court to freeze Tethys assets and Tethys had to apply to the Court to defreeze !.
As Olisol is a "very private" entity, I have yet to see its assets other than the 63m Tethys shares, the working capital lent to Tethys and "Egg".
Mind you, we all saw the blurb about Olisol's "$50m facility" when they first made the offer to Tethys !.

[1399peter] 22/4/2017 06:47

LOL, We don't have anything to do with UKIP Stephen.

As for 'time'. Well, you are probably right there. But the shenanigans being played out here are in my opinion purely down to the mistake of bringing Olisol onboard and giving them a large chunk of the company. Which I am sure won't be with them much longer.

Does anyone know if Olisol's assets were frozen during the Kaz court cases currently on appeal

[stephen loo] 21/4/2017 23:36

Time...time....time! This category doesn't work in Tethys's favor. That's really worries me. Management can not stabilize the situation for long time. Additionally this UKIP. A lot of doubts. It's time to ask management and BOD about revelation of information, including costs on both stock exchanges.

[hguess16] 21/4/2017 22:12

TI,
As you and I realise, there are no assumptions about the very depressing share price
We have to hope that something "GOOD" is likely to occur once the drilling takes off,
something you've been asking for, for ages, ie "Why not get on with the real job of drilling for oil and gas ".
At last we have Ken May promising that he will get Great Wall Drilling to do the job
of drilling for 12 gas wells !.
Ken has also promised to get a mini-compressor to enhance the extraction process for new and old wells !.
These are real tasks to be achieved in 2017.
So let's hold them to their promises for once and hope that it works to our benefit as
long suffering shareholders !.

[temporarily insane] 21/4/2017 21:44

Looking forward to everything being worked out.

[temporarily insane] 21/4/2017 21:34

hguess16, there are a lot of assumes there.

Based upon how we have all been treated so far inclusive of the delisting saga for all LSE investors the 'assume' basically means that the Tethys BOD so far have......................