Tethys Share Discussion Threads

[casual47] 18/5/2018 21:46

When Olisol was paying less than $7 per barrel (for many years) who was getting the kickbacks then?

[1399peter] 18/5/2018 21:10

Yes stephen loo

you are probably onto something. Obviously we all think you are an Olisol stooge and if Tethys actually ever release anything regarding figures or counter claim to your spurious accusations then your story will remain true.

[temporarily insane] 18/5/2018 21:05

If multiple companies want to buy oil at $28 then let the bidding war commence.

Whoever pays the highest gets the oil.....It aint rocket science.........Common business in the real world!

[stephen loo] 18/5/2018 20:27

Mr Menameismud

Since January 2017 they’ve been selling oil to PRAX-AK at $7 per barrel. This company is directly affiliated with PRAX Pte Ltd with Medgat Kumar as its director. He also acts as director in PRAX-AK and is a member of Tethys Board. I’m quite sure they are playing some dirty tricks and Kumar might be behind it whereas someone else is getting kickbacks and those are way higher than what Tethys earns... I haven’t talked to Wells yet, but thinking about doing it. Based on what I saw in Olisol’s press release, Olisol and several other companies wanted to buy oil at $28. Looks like Olisol was expecting to negotiate and settle their disputes after Sam Barrows, a new CEO arrived. They didn’t sell oil to Olisol or any of those companies and again Olisol went to court... anyways, there is no escaping the fact that someone is pocketing $21 per barrel...

[menameismud] 18/5/2018 18:55

Mr Loo,
You are suggesting that Tethys local management sells oil at $7 which is sold on at $28, presumably with them getting a kick-back? I assume, as a concerned share-holder, you have informed the chairman of this? If so, would you care to share his reply? Or are you suggesting that Wells is also receiving a kick-back from ripping off Tethys (of which he is a major shareholder and debt-holder)?

[stephen loo] 18/5/2018 17:48

... yes, gas - 48 per 1000 cub.m.
9 000 000 per month - 432k gas sales per month!!!!!

.... FANTASTIC!!!!!!

[casual47] 18/5/2018 17:24

The money is in the gas, duh.

Olisol was paying even less under the original agreement. They ripped off the company and nearly destroyed it. And they aren't done trying.

Oh, and f3ck off, we know who you are.

[stephen loo] 18/5/2018 17:04

Don’t want to seem too pessimistic, but... at the moment the oil production goes at 600 barrels per day, and the Board sells it at $7 per barrel. Meaning, Tethys only gets $126k from oil sales per month!!!))) Look at the market oil price - more than $80...))) We can only assume who’s the one who skims the cream off in Tethys. Nothing has been done, zero new investment made! If there are offers on $28 per barrel and they wouldn’t sell at this higher price to me it looks like a serious symptom of “Tethys - for management” situation!!!

Casual47 - cheers and I really recommend you start assessing Tethys’ situation rationally. First, try to understand what’s really going on there and you will see everything at once...

With every month the oil production will be going down... let’s see the reports they send us...

[casual47] 18/5/2018 16:18

Posters over on Stockhouse Billboard have not yet realised that the Olisol press release is not good.

"Gonna be a winner soon for all us longs...! Things with Olisol turning around"

Did everybody skip the part where Olisol state they are sueing Tethys? (EGG are but same thing)

What's wrong with people?

"On May 3, 2018, Eurasia GAS Group (hereinafter – the “EGG”) filed a lawsuit on imposition of a duty on TAG to fulfill the terms of the oil supply contract for EGG and the joint activity agreement. Oil price proposed by EGG in May 2018 is USD 28 per 1 (one) barrel."

OLISOL ARE NOT OUR FRIENDS. THEY NEVER WILL BE. NOT GONNA HAPPEN.

[pollster] 18/5/2018 07:55

Fido
Perhaps this could become another Dragon Oil?
I recall the early days of doubts on how much oil could be extracted offshore Turkmenistan, until the heady days of dividend payments (incl. Irish withholding tax!) and finally the £8 take out.
I think I met you briefly at an AGM at the Hilton,Park Lane.
I hope you are in good health and investing successfully
Dave

[casual47] 17/5/2018 23:23

Less than £12k worth in total volume. Pretty meaningless.

[fido] 17/5/2018 23:12

Up 100% on decent volume.

[casual47] 17/5/2018 21:43

My reading of that garbage heap of a press release is the opposite:

> Tethys is still getting paid 7 dollars
> Tethys is still cold-shouldering Olisol
> Olisol claim to have partners who are willing to pay $28
> Olisol are using these mythical partners to try to get back in the game and along the way garner support from other shareholders by insinuating that either (1) the BOD are defrauding the company or (2) the BOD are incompetent and don't have the connections or business acumen to get a "good" deal

The only question I have is "Why put this news release out now?" -- what is happening in the background that is prompting them to do this?

[menameismud] 17/5/2018 21:34

Clearly Olisol are not motivated by concern for their fellow shareholders, but I see this release as good news on the basis that the key to improving Tethys fortunes is product pricing, and now there seems to be some movement. I assume Tethys have found a way to get $28/bbl and Olisol are rushing to try to take credit and avoid being cast as the ones who build a business on arbitraging between the mugs at Tethys and the true market price. As Olisol note, $28/bbl is a marked improvement over $7.66, and will have a major impact on cash flow.

[casual47] 17/5/2018 20:38

Small volume C$ wise. Also, perhaps some of our Canadian brethren saw Olisol's news release and thought it was good news -- which it definitely isn't.

[redstone64] 17/5/2018 20:31

It is good to see some buys at 0.02, but let's not get too ahead of ourselves as the bid/ask has only moved from 1.0/1.5 to 1.5/2.0. Looking forward to some positive news.

[1399peter] 17/5/2018 19:44

Saw it on my phone on the way home, can we assume that news is imminent. It's always an apprehensive feeling rather than one of confidence with this lot though.

[temporarily insane] 17/5/2018 14:50

Nobody awake this afternoon.....

[casual47] 16/5/2018 20:59

(Btw, q.e.d. for anyone still doubting the latest Olisol missive is meant to be a hit piece)

[casual47] 16/5/2018 20:52

We all know Stephen loo is an Olisol stooge. Back in your box!

[stephen loo] 16/5/2018 20:39

PRICE OIL - 7,66 USD ????????

...have a look at the report Tethys - oil price is $7.66 per barrel. They offer $28 per barrel to the Board of Directors... we have to find out what’s wrong here.. Why wouldn’t they sell at a higher price?

Welcome, chaos....

....

[casual47] 16/5/2018 20:33

The more noise they make the more they are losing.

Here's hoping.

News shouldn't be long, the 2017 resuls should be published any day now. I think the maximum delay is 2 months.