Tethys Share Discussion Threads

[casual47] 06/7/2017 15:28

He even got their assets frozen - you are right, he sounds positively cuddly:

"As referred to in our Q2, 2016 financial statements the assets of one of the Company's Kazakhstan subsidiaries remain frozen after the first Court hearing of a claim brought against the Company by a private individual in relation to the USD 7.5 million debenture"

[casual47] 06/7/2017 15:20

D64 - it is a pretty good assumption that they are potentially hostile as they took TPL to court demanding immediate repayment!

How else do you want to put it?!?

Instead of immediately throwing your toys out of the pram how about considering the point I am making?

[dorset64] 06/7/2017 14:59

'The AGR loan discussions are with a party that is potentially hostile to them, seeing as they took TPL to court'....

Assumptions casual, assumptions. Nobody knows do they.

[dorset64] 06/7/2017 14:59

I give up I really do, ok casual you're right, you always have been.... we're all doomed, no loan will ever get paid blah blah blah...

It's actually past the point of even replying now.....

You got it casual, we're all doomed & the world is ending tomorrow.

[casual47] 06/7/2017 14:07

D64 -- No, the point I made to hguess was not about the fact he only posts postive stuff but that he seems to want to shut down people who want to examine the not so rosy scenarios. If you take care to read what I actually write perhaps you and I wouldn't appear to be all that much in opposition?

Also, while I do end up posting a lot of "doom", which frankly is normal given the critical situation the company finds itself in, I do often add the flip side also.

I am not posting in a vacuum here. I react to what other people post and seek to add or clarify with my point of view.

The whole loan thing this morning was in response to a post by benandemmiboo.

This is what I posted -- hardly one-sided?

=====
The AGR loan discussions are with a party that is potentially hostile to them, seeing as they took TPL to court.

On the other hand the loan is not secured.

They should be able to renegotiate it but it could be expensive to do so.
=======

[dorset64] 06/7/2017 13:58

Can you not see that you two are exactly the same but polar opposites, but it's also highly amusing that you choose to lambast the guy for having 'only' positive thoughts, all the while you only have negative ones.

It's hilarious that you can't even see that yourself.

[casual47] 06/7/2017 13:54

Hguess, I am sure my fellow PIs on here can make their own minds up and take on board or rubbish what I post as they see fit.

[casual47] 06/7/2017 13:51

D64 -- maybe you should reread my post to hguess.

Hguess has rarely (ever?) shown an interest to debate things. He just asks people to calm down and basically shut up. That's all I did in my post to him: I pointed out this is a discussion board and I invited him to address the points I was making.

I don't think I was particularly harsh.

Your latest post on the other hand was rather an overreaction (Quote: "extremely naive & stupid"). But I don't mind -- it's a free world.

[hguess16] 06/7/2017 13:49

Casual,
Your comments reflect your bitterness in making the wrong call. I fully understand your sad situation and now that you have written off your holding to the last 250k ( your words ), you are hoping that Tethys will go down !.
I hope PI's following this BB realise that you have very little invested in TPL !.

[dorset64] 06/7/2017 13:46

casual,

You wrote:

"They should be able to renegotiate it but it could be expensive to do so."

It could be, it could also be the complete opposite, you nor I haven't a clue but you are soooooo very happy to lambast someone like hguess at the very first of opportunities, all the while you yourself are doing the exact same things you berate others for but with a negative slant.

That above makes you extremely naive & stupid to have a go at me or any one person, whilst at the same time doing exactly the same yourself.

[casual47] 06/7/2017 13:39

D64, I only go on what you post here. I don't know or care what you do outside of the BB. If you have indeed experience in dealing with situations like this then it doesn't really bare out in your posts on here.....

This is what I wrote:

"They should be able to renegotiate it but it could be expensive to do so."

You responded:

"casual, the flip side to your doom is that as the loan is unsecured, which it is, TPL tell them we have no monies at the moment so you'll going to have to wait until 2020 for repayment. What can they do?..... nothing!"

==> that's pretty much implying TPL have the upper hand, no?

To which I pointed out that nobody wants to do business with a company that has defaulted on a $7.5m loan. That's business 101. Perhaps TPL can get money from the Kumars, sure. But what about other existing loans with 3rd parties who may not be so friendly? What about suppliers they work with on a daily basis -- will they be so friendly?

I'm sorry but you seem very naive here.

[casual47] 06/7/2017 12:55

Hguess, I know you would prefer if everybody would just post happy clappy posts. But...tough. This is a free bulletin board where everyone can post their two cents, and I would argue that the more we hear from all sides of the argument the better.

Or do you not want PIs to be informed of the risks?

I'm not pushing any particular scenario. Just making clear that a doom scenario exists and it is not more or less speculative than a success scenario as far as any of us knows because....nobody on here knows anything that isn't already public!

D64 seems to think TPL have the upper hand in these negotiations as the loans are unsecured. I just pointed out that is not the case. If you take issue with my reasoning feel free to counter it. Just saying "shut up" isn't helpful to anyone.

[hguess16] 06/7/2017 12:31

As usual, Casual, your doom and gloom scenario is purely speculative !. I am not surprised !.
Olisol is responsible for the breach of contract and other illegal actions which will cost them more than the $1m.
Drilling is progressing as planned and I expect that the AGR loan issue will be sorted
out in the near future, following the ongoing negotiations.
So keep calm !.

[casual47] 06/7/2017 12:14

Let's also not forget about the 1 million USD bank loan that Olisol arranged for TPL last year and which is also due around now.

What do you think the bank will do? Where does Olisol fit in here?

[casual47] 06/7/2017 12:08

It won't be good for the reputation of The Great Wall drilling company to be seen to be working on a "drill now, pay later" contract for a company that apparently can't pay their bills.

Do you think they would hang about much longer were a default called?

[casual47] 06/7/2017 12:02

D64 -- as discussed before, all the AGR loan holder needs to do is call a default and just watch what happens to the prospects of TPL raising any finance + see how quickly this will trigger default on other loans they have + see suppliers run for the hills.

Nobody in their right mind wants to touch a firm that has formally defaulted on a 7.5 million USD loan. Nobody.

[dorset64] 06/7/2017 11:41

My shares with TDW are in my account fully tradeable and no issues.

casual, the flip side to your doom is that as the loan is unsecured, which it is, TPL tell them we have no monies at the moment so you'll going to have to wait until 2020 for repayment. What can they do?..... nothing!

[targatarga] 06/7/2017 10:28

casual - just watch out for the charges imho

[casual47] 06/7/2017 10:26

No news yet from Barclays for the pittance I still hold in my SIPP.

[targatarga] 06/7/2017 10:24

Spoke to my broker [dowgate]. My shares were purchased by a scheme of arrangement the other week. Apparently the form had a small comment that stated I could retain my shares on the tsx but a monthly charge £3 and a one off payment for transfer of £50 would apply. The form was obviously devised to get my shares on the cheap. Best of luck everybody!

[casual47] 06/7/2017 10:19

TI, if the Kumars have 7.5 million sitting around it would be better to inject it as new money into the company and keep the AGR loan on the books but with a maturity date of e.g. 2020.

[temporarily insane] 06/7/2017 10:12

.....or it could be cheap as the Kumars or whoever has taken over the previous purchases could buy it off AGR.


That might be an incentive for this lot to start to "create shareholder value" as they might want to get something done.

[casual47] 06/7/2017 10:04

The AGR loan discussions are with a party that is potentially hostile to them, seeing as they took TPL to court.

On the other hand the loan is not secured.

They should be able to renegotiate it but it could be expensive to do so.

[temporarily insane] 06/7/2017 09:54

More people exasperated with how long everything takes with Tethys Petroleum..............Just keep your shareholders updated.What have you all been doing?????????????????