Tethys Share Discussion Threads

[temporarily insane] 30/6/2018 11:37

hguess16, could I suggest that you too look at the video on youtube. It is a BBC insight into the direction that the officials want to take Kaz.

It goes into details on introducing a UK judicial system for International issues to try and stop the corruption...

It was on the BBC News a few weeks ago.

[hguess16] 30/6/2018 11:33

Cauual,

KZ is no different to most emerging countries when it comes to corruption.
The way to handle this is to absorb the punches and hit back harder and not lose your
will to succeed !.
Wells must have known who and what he was dealing with when he invested in Robson who was selling KZ and Eastern Europe oil and gas exploration.
He got rid of Robson and he thought he could handle Olisol. Well so far, he has not
succeeded, but I expect him to get his act together if he is to retain his credibility.

[temporarily insane] 30/6/2018 11:27

casual47 have a look at the video on youtube....."BBC HARDtalk On the Road in Kazakhstan"



or you can just click this link.....


It shows an insight into how Kaz is stopping all of this dodgy stuff to try and get world investment.

It really is quite interesting

[casual47] 30/6/2018 11:19

Hguess, if you think that one supreme court decision makes Tethys immune from further shenanigans then good luck.

All that needs to happen is for someone, doesn't have to be an official e.g. could be one of those dodgy armed mafia bailiffs, to disrupt business for long enough so that Tethys fails to make an interest payment and the whole house of cards comes crashing down.

Doesn't matter whether Tethys is in the right or wrong, they could be bankrupt before they can manage to get an injunction.

Welcome to Kazakhstan!

[hguess16] 30/6/2018 10:32

When the BOD tries to run Tethys on a petty cash budget, what do you expect ?.
No money to pay Great Wall, no money to pay the audit fee except to sell two rigs !.
Pathetic, cheap skate, hand to mouth management, bereft of ideas !.

[hguess16] 30/6/2018 10:29

Casual,You are wrong !.
The KZ Supreme Court ruled in favour of Tethys despite the " corrupt officials " in the lower courts.
Wells is not a vulture !. He is overtly cautious and afraid of risking more Pope
money on Tethys. He seems not willing to go the whole hog !.
My gut is that the BOD seems at a sea at coming up with sensible solutions.
They can only think of dilution !.
You have to risk more money in order to get production on stream.
Look at what took place with Nostrum.
After the departure of Monstrey, they reorganised the BOD and raised funds on the basis of proven oil and gas reserves and the will to drill more wells and get production moving.

Wells has got to get his act together !.

[temporarily insane] 30/6/2018 10:28

It really is worth watching the video I have posted.......



It is all about Kazakhstan trying to bring in foreign investment and having a UK court system in place etc etc.


If anybody is worried about clicking links then here is te youtube title so you can search for yourselves....


...................BBC HARDtalk On the Road in Kazakhstan

[casual47] 30/6/2018 10:27

The report should be an interesting read, though.

Intrigued to find out about the Great Wall company that suddenly was never talked about again. Olisol in one of their psychedelic press releases said that Tethys hadn't paid them and Great Wall were taking them to court. (If I recall correctly). Wouldn't surprise me if that is what happened. You wonder why anyone would lend any money to Tethys....

[temporarily insane] 30/6/2018 10:14

VERY VERY VERY INTERESTING................


The interesting part starts at 2 mins in and on...... 3.20 min and on is interesting


I wonder if Wells has seen this????????

[casual47] 30/6/2018 09:47

Kazakhstan is not business as usual.

Why would a company like Pope guarantee anything when a corrupt official can destroy the lot at the stroke of a pen?

There's nothing any of us can do, except face reality (long overdue!).

Best to consider it a 100% paper loss, enjoy the sunshine and come back end of July to read the financial report.

[temporarily insane] 30/6/2018 09:44

Hguess16, "the vultures will take over Tethys"...........could this be Bill Wells' way of stealing the company from its shareholders using Pope Asset Management???


I bloody well hope not.


It is beggars belief how this has been handled so far! I personally am in disbelief.


I hope that Wells sorts this out and has something good to say at last....It has been a long time in coming considering he is a financial corporately educated professional.



It is bordering on corporate piracy!

[hguess16] 30/6/2018 09:16

TI,
I Agree !.
I simply cannot believe that after all the effort on legal cases in Canada and KZ,
the BOD seems to have just decided to shut up shop and hope for the best !.
It seems that Pope is unwilling to follow through with more investment in order to
fund drilling and agree a rescheduling of the onerous short term debt.
I have already suggested to Pope that if they do not have cash now, that they should consider a corporate guarantee with the backing of the proven oil and gas reserves, but have been told that they do not believe in this strategy. The Board which has a Non-Exec Director who is supposedly a "restructure artist", has failed to come up with anything but a dilution of shares, which is just plain naïve at this stage of the reorganisation process. I get my information about Non-Exec Directors from the Web and do keep a tab on the capabilities of them. So far, it has been a very disappointing performance resulting in dilution, a delisting, lack of cash and collapse of the share price
I have done refinancing, similar to my suggestion, in a developing country where the
parent offered a corporate guarantee for 75% of the loan.
In Tethys case, it is also backed by proven oil and gas reserves valued at about
$150m based on the Gustavson reserves report in 2012.
Is Pope willing to offer a corporate guarantee at this crucial stage ?. It would ensure control of Tethys by them and save the company from the vultures who are ready to grab their prey.

There seems to be distinct lack of vision or will by the BOD to refinance the Tethys operation. I am surprised !
If they fear Olisol, then the solution is to settle the disputes and agree to work together instead of this " petty cash shilly slally dance" which will end up in tears !.

If the Board fails to get its act together, as I've said earlier, the vultures will
take over Tethys !.

[hguess16] 30/6/2018 07:43

Urgent Message from Long Suffering Tethys Small Investors :

Help me Information
Get me Memphis Tennessee
Tethys is the party
Popey get in touch with me

A twenty million dollar loan
With a Corporate Guarantee
Backed by oil and gas reserves
Will save the company

[hguess16] 29/6/2018 23:44

Let me try to explain !
Nostrum's share price at the time of the offer was £5.00.
Currently Nostrum is trading at £1.90, although they are well funded until 2022 and
are producing output of oil and gas and selling at export prices.
What I am trying to say is that Tethys has failed to fund itself for drilling of wells and production. It was focused on legal disputes with Olisol, since Wells took on the role of chairman following the Olisol IA breach.
The BOD lost its bearings and failed to find funds to drill wells that had proven oil and gas reserves. I thought Ken May, selected by Wells, would make a difference !.
IMO, the BOD thought that it could carry on, on a "shoe string" budget with no sensible plan to raise funds to increase production. All they did was to dilute the shares and delisted the company in the process.
We have had no news about the Great Wall drilling ops for some time, since Ken May
departed.
I wonder if the BOD has got the message, at least now, that immediate funds are needed to fund drilling and pay off the existing onerous short term debt that was raised by Bell. It needs more than petty cash !.
Olisol played a significant part in the disruption of Tethys operations and virtually bankrupted Tethys in the process.
I wonder how Oliosl feels now, as they risk losing their investment in Tethys as well as their source of cheap oil.
I can only hope that the BOD comes up with a realistic financial plan to raise funds even at this stage, using its only tangible asset; ie proven oil and gas reserves.

We are left at the bottom of the pyramid, hoping for a turnaround !.

[temporarily insane] 29/6/2018 22:00

Hguess16........Im confused?

[hguess16] 29/6/2018 20:58

A LOST OPPORTUNITY !!.

Nostrum
43 wells at the Chinarevskoye Field - 23 oil wells and 20 gas condensate wells
Net debt at nearly US$1billion
Production currently at over 36,000 boepd
Currently there are 2 drilling rigs on the field with a third rig due to be operational in Q2.

Tethys
How many wells ?
Net debt US$33m
Production - not known
Sold 2 rigs for $3.8m to repay debt and pay audit fees


"The Tethys BOD is continuing to consider alternatives to try and get Tethys past the current financial challenges and hopes to be able to present a plan to shareholders within the near future".

You make the comparison !

Let's see what the BOD comes up with in the near future, having diluted and delisted the shares and managed a collapse of the share price down to C 1 cent.

[temporarily insane] 29/6/2018 18:56

Hopefully the board after over 3 years of achieving nothing positive might have something to show their shareholders in the next few weeks for all their hard work.


Damn hope so.

[temporarily insane] 28/6/2018 23:02

Unbelievable how many times we are surprised at the incompetence from what we havnt been told.

[1399peter] 28/6/2018 20:57

Do you know what lads, we could be giving these guys far to much credit.

As much as I think TI a bit harsh calling them a bunch of crooks stealing our company.

I am going to lean in that direction for now until proved otherwise, because we can't keep trying to see the good in these people if they eventually screw us over. It's certainly looking like they are going to.