Tethys Share Discussion Threads

[hguess16] 06/1/2018 17:16

I understand that it is the new buyer or new customer of Tethys that is referred to in the Tethys press release and not EGG.
So I presume that the suspension of EGG claims is the first phase in the resolution of the TAG/EGG
dispute by the Supreme Court.
I am pleased that we are seeing positive signs of the working of the system of " due process " at the highest Court in KZ.
My hope is that this dispute will be resolved as quickly as possible so that
Tethys can resume its normal business
of the production,distribution and sale
of oil and gas with the ultimate aim of
export at higher prices.

[hguess16] 06/1/2018 15:21

Peter, Menasmimud,
Export of Tethys oil will occur if and when output reaches a set level.
Hopefully now that normal operations resume, we could expect more drilling and ESP efficiency to rexult in higher output.
I assume that the oil customer referred
to in the Tethys press release is EGG.
If that is correct,I wonder if the oil
will now be sold to EGG and the existing new customer of Tethys.
It could also mean that Olisol and the
AOT could be back in business receiving
Tethys oil.

[temporarily insane] 06/1/2018 15:15

Its nice for us to be able to say something positive for once after such a long time.

[1399peter] 06/1/2018 14:30

menameismud

That will be the game changer for sure, with Klymene on tap.

[1399peter] 06/1/2018 14:21

Hguess,

I thought it was a bit better than that but HEY! it's a 90% increase, can't argue with that, for now!!

[menameismud] 06/1/2018 14:16

$14 is better than $7.66, and a reduction in disruption would be welcome....but the key here is the compression facility and export licence...not sure why this doesn't seem to be the priority. At export prices (just for oil) free cash flow would exceed $5m/qtr, changing the financial situation massively.

[hguess16] 06/1/2018 14:10

Peter,
The Q3 2017 Fin figures showed an average oil price of $7.66 at the wellhead.
So with a 90% increase from 1/2/18 this would amount to just less than $15.
You might like to check them by looking at the Q3 results.


TI, The above prices are wellhead OIL prices applicable to KZ.

[1399peter] 06/1/2018 14:06

Nice one TI, unfortunately Tethys (as far as I'm aware) don't sell directly into the world market, I don't think Kaz do either. So it'll be well head price for us. I stand to be corrected on that price if anyone knows better.

[1399peter] 06/1/2018 13:12

hguess,

Am I right in saying we were getting about $15 a barrel, so as of Feb we will be approx $28.50

[temporarily insane] 06/1/2018 12:07

hguess16, This is very positive indeed for Tethys true shareholders. I am feeling a lot more optimistic as things certainly have been going on behind the scenes.

Maybe that is why the management have been so quiet.

[hguess16] 06/1/2018 11:29

TI,
This is very positive for TAG.
The hard work and perseverance of Wells and May behind the scenes is starting to show.
I bet you are now feeling a bit more
optimistic !.

[temporarily insane] 06/1/2018 11:08

Continuing on from hguess16' post......... (Thank you for posting it hguess16)....

[1399peter] 06/1/2018 08:20

hguess,

That sounds very positive, thanks for the info

[hguess16] 06/1/2018 06:12

Patience,hard work and perseverance will bring rewards in the end !.

[hguess16] 06/1/2018 04:33

Peter,
Good news at last on SEDAR

SEDAR NEWS about TAG/EGG dispute on 5/1/18
KZ Supreme Court suspends EGG claims for further review.
TAG has sought and obtained agreement with oil buyer to increase oil price at wellhead
by 90%.

[hguess16] 06/1/2018 03:57

Peter,
My understanding of the process is that the appeal documents go to the Ministry of Justice first who evaluate the case and then following its review its recommendations are sent to the Supreme Court for a final decision.
I have been looking at the Supreme Court website for info on when the case might come
up, but have failed to identify it as it is in Russian. So far I have failed to detect
ref to TAG/EGG as a clue to its appeal status.

[1399peter] 05/1/2018 23:14

hguess

Exactly right!! And the fact that the KAZ authorities have allowed this to drag on and on is beyond stupid.

To paraphrase Sean Dyche. They have all got to be the Stupidest people in Stupidville

[hguess16] 05/1/2018 22:36

Peter,
You may be right, but if this cannot be
resolved in Court, an independent influential person, acceptable to both parties may have to step in and force a
settlement.
This is not a dispute that can continue
indefinitely as it could cause damage to the future prospects for KZ as well !.

[1399peter] 05/1/2018 22:14

hguess,

I don't think amicable is an option anymore. And this can't be over soon enough for me as it is so seriously boring now.

[hguess16] 05/1/2018 21:44

1399 Peter,
So would I,but I think that the skeleton has been given " legs" by past management, either through gross negligence or otherwise, to enable it to try to cause problems/disruption to Tethys and its shareholders.
This dispute has to be resolved through the KZ Supreme Court or amicably if that is possible.

[1399peter] 05/1/2018 20:54

Personally I would like to see Olisol forced into bankruptcy and out of the picture so as Tethys can give us some kind of return on our long suffering investments. Simple as that.

[temporarily insane] 05/1/2018 13:01

Maybe its time to force Hammond and ALL THE OTHERS UP IN FRONT OF THE COURTS FOR GROSS NEGLIGENCE and simply just for being crooked cuxts.


Maybe Devonlad would be up for organising.

[hguess16] 05/1/2018 12:40

TI, Chestnuts,
The effort, ingenuity,and time required to unravel the irresponsible bad management, and largesse enjoyed by the Robson mob during their reign of " terror for shareholders" between 2006-2014 will take longer than one expects.
I do hope that there are no more skeletons left in the Tethys cupboard that decide to come alive and derail operations.
My view is that Wells and May have been given a huge challenge due to the " stinking leftovers" made up of stupid self interest contracts, irrational exuberance, and as Chestnut mentions; huge overspends, which has resulted in near bankruptcy.
Remember that Robson set up this company and he felt that he could do whatever with
no regard for the investors who funded his grandiose schemes.
I can only hope that we can all recover from this financial nightmare which Wells and May are desperately trying to restore Tethys from.

[chestnuts] 05/1/2018 09:36

Hguess

That last post shows how corrupt Robson and Hammond were, You forgot to mention the drilling costs of each well, they were very expensive considering they used there own drills more expensive than if they were farmed out, Now we cant do any thing to Robson, but Hammond could surely brought to task.