Tethys Share Discussion Threads

[hguess16] 02/9/2017 17:31

1399peter,
Do not underestimate Wells and May !.
It might take time but Tethys will
recover !.

[casual47] 02/9/2017 12:36

Hguess, out with the pitchforks this morning?

When they start attacking the person rather than the points they make, and when everybody becomes 'suspicious'....

[temporarily insane] 02/9/2017 11:26

My view of Wells and May is just the
opposite based on how they are trying
their damndest to rescue Tethys from
the clutches of unscrupulous people.
TSX have wisely seen the potential of
Tethys with the new team and I expect
to see a marked turnround within the
next 3-4 months to coincide with the
120 days deadline provided the plan of
implementation works.
I trust the new team to deliver !.


^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

[casual47] 02/9/2017 11:17

Geesh, is this a religious cult or what?

After every calamity the faithful whip themselves into a new fervour because the Lord did test them yet they live another day. Praise be! How lucky we all are.

The facts matter not for what are facts when you have faith.

[hguess16] 02/9/2017 10:54

1399peter,
Dorset64,
It is obvious that Casual has been affected by his past experience in investing in some high risk/high return
stocks that have turned sour.
This tends to be reflected in his judgement of key people at Tethys who he considers as being self interested.
My view of Wells and May is just the
opposite based on how they are trying
their damndest to rescue Tethys from
the clutches of unscrupulous people.
TSX have wisely seen the potential of
Tethys with the new team and I expect
to see a marked turnround within the
next 3-4 months to coincide with the
120 days deadline provided the plan of
implementation works.
I trust the new team to deliver !.

[casual47] 01/9/2017 22:32

The current situation is exactly the situation before we got the TSX delist warning - precarious.

The only difference being that TPL now has had a "strike one" and was told they need to sort their sh1t out by TSX.

I don't see how you can draw any further conclusions apart from that. Forced delisting is still a possibility. Though with the 120 days extension it is currently not the most pressing issue - we can continue, for the time being, with just worrying about the other issues TPL has to deal with.

That's a fair enough assessment of the situation, no?

[dorset64] 01/9/2017 22:01

No doubt casual will find something in there to hang the BoD's again. It should also be noted that the date given is just that, a date and if needed and progress being made can be extended. I do not see them having to delist from the tsx anytime soon or that they have any intention to either. Casual please also note the comment regarding payments!!

[hguess16] 01/9/2017 18:51

This is encouraging news and provides
Tethys with time to hopefully resolve
its legal disputes and improve its production and pricing.

[fbrj] 01/9/2017 18:36

Actual TPL announcement:

GRAND CAYMAN, CAYMAN ISLANDS--(Marketwired - Sept. 1, 2017) - Tethys Petroleum Limited ("Tethys" or the "Company") (TSX:TPL) today announces an update on the Toronto Stock Exchange's ("TSX") expedited review of the eligibility criteria for the continued listing of the Company's ordinary shares.

Following a detailed written submission by the Company and a meeting of the Continued Listing Committee of TSX (the "Committee") held on August 31, 2017, which was attended by the Company's management and legal counsel, the TSX has today notified the Company that it has decided to allow the Company to retain its listing on the TSX subject to its Remedial Review Process. The Company has been granted up to 120 days to comply with all requirements for continued listing, beginning August 24, 2017. A further meeting of the Committee is scheduled to be held on Thursday, December 14, 2017 to review the position at that time.

Notwithstanding the previously announced application made by the Company's subsidiary Tethys Aral Gas LLP for rehabilitation with the Special Economic Court of Aktobe Region, the Company continues to conduct normal business operations, including making payments to creditors in the normal course.

[ih_416583] 01/9/2017 16:21

Thanks for the update (and your honest appraisals), Casual.

[hguess16] 01/9/2017 16:11

Thanks Casual

[casual47] 01/9/2017 15:31

Good news out: TPL have been given 120 days to convince TSX they should remain listed.

[casual47] 01/9/2017 11:40

Hguess, how can I ignore something that hasn't materialised?

Where is the added value?

According to the last financial report they were paying only a couple of cents above what Olisol paid for oil.

Which of the objectives have they achieved?

"The Investors would work with Tethys to assist it to:

o Favorably resolve any detrimental issues the Company may be facing in Kazakhstan;
o Obtain a bank loan from a reputable bank in Kazakhstan for the Company's subsidiary Tethys Aral Gas LLP ("TAG") to enable it to repay and restructure current loans and to fund operations;
o Market the Company's gas sales for export;
o Improve the pricing of Tethys' oil and gas products;
o Engage with the Company's current corporate lenders with a view to restructuring existing loan terms in order to improve cash flow."

[hguess16] 01/9/2017 11:32

Casual,
My view is that the comparison of the "$1.4m for the 20% " is incorrect.
I have said before that there is inherent value in the help provided by the new investors over and above the " 1.4m and the 20%" which you have ignored on purpose.

[casual47] 01/9/2017 11:22

Hguess, good to see that you're taking notes.

Nobody is saying we can't be optimistic. We have to be, seeing as a lot of us don't have a choice.

That doesn't mean we can't all agree that it's been a complete sh1tstorm so far and this share has been a complete flee-ridden dog with some pretty cack-handed decisions by management, both old and new.

Let's not forget it was Pope who brought Olisol in.

Any news about the new investors bringing in the much hoped for help? Do you still think it was good value to bring them in and give 20% of the company in exchange for $1.4 million?

"The Investors would work with Tethys to assist it to:

o Favorably resolve any detrimental issues the Company may be facing in Kazakhstan;
o Obtain a bank loan from a reputable bank in Kazakhstan for the Company's subsidiary Tethys Aral Gas LLP ("TAG") to enable it to repay and restructure current loans and to fund operations;
o Market the Company's gas sales for export;
o Improve the pricing of Tethys' oil and gas products;
o Engage with the Company's current corporate lenders with a view to restructuring existing loan terms in order to improve cash flow."

[hguess16] 01/9/2017 11:10

Casual,
I expected a gloomy prognosis from you. No change there then.
I thought you had reduced your stake to 250k or is it 500k now ?.
While I accept that the delisting in London has caused some of us actual and potential losses, some investors are able to trade their shares, although some UK brokers have failed to provide a duty of care to their clients by blaming problems with MM's with cross border issues. Some of my stock is still in limbo !.
However, my investment in Tethys is quite significant and I have decided to give it time unlike reacting like a short term trader. It is quite possible that I might lose it all if Tethys is unable to solve its major issues related to Olisol and the O/S short term loans. But then, I have some confidence that Wells and May, who are doing their best to keep Olisol at bay and have now commenced drilling, might turn this business around.
The Tethys "Rehabilitation plan" is vital to protect TAG from an Olisol " grab ".
You have made your point about dilution BEFORE , but this was forced on Pope.
I view it as a necessary step in order to prevent bankruptcy and the need to prevent Olisol from stealing Tethys. I recall that you were quite happy for Olisol
to use its working capital to purchase the 181m shares instead of paying for the shares with cash as per the IA.If this had occurred Tethys would have been subsumed
by Olisol, a private unscrupulous company.
PI's would have been left in permanent limbo !.

I am optimistic while you are an eternal pessimist and therefore I am willing to give Wells and May an opportunity to implement their plan of action despite the many challenges that Tethys has to face.
You may have been burnt before with your "African Minerals" ?.( Frank Timis !) and so your view has been clouded by that experience.
In this game, I accept that the wins have to exceed losses !.
Let's see what unfolds !.

[temporarily insane] 01/9/2017 09:46

Casual47, did you telephone?

[casual47] 01/9/2017 09:23

hguess, in none of your posts your statements of optimism or even just your concern extends to the private investor.

"While Olisol is making every effort ( legal and illegal) to acquire Tethys,
the new team seem to react positively to their every move. So far so good !."

So far so good? Really? Because of the UK delisting a lot of UK investors were forced to sell out at (then) all time low. The majority of those who didn't are STILL unable to trade as their shares have been in limbo. So far so good?

"Pope Asset Management has and is determined to stay in the game despite the many
obstacles and challenges faced by Tethys."

Yes, Pope made sure of staying in the game, at the expense of the private shareholder. Remember that bogus "emergency" prepaid loan nonsense just so that Pope had extra votes for the EGM? What about the cosy deal to renegotiate the loan to change the conversion price from 0.19 CAD to 0.014 CAD?

"recent actions show that progress is being made."

What, like needing to file for creditor protection in Kaz to make sure Olisol can't seize their assets? Or TSX threatening to delist because TPL's main asset is under threat? Reminder: The company's KAZ bank accounts are still frozen, several loans are past maturity date and are no doubt charging top rates of interest, TPL lost the appeal to EGG!