Tethys Share Discussion Threads

[hguess16] 09/7/2018 21:09

TI,
I think the FD who resigned is still on board as an Adviser.

[islandbruin] 09/7/2018 20:50

I agree with this post! If he was the answer, he'd of had the intern CEO position 3 months ago.

[hguess16] 09/7/2018 20:49

Restructuring expertise !.
Is it a case of borrowing your watch and telling you what time it is ?.
Still waiting for the right time for Tethys! .

[casual47] 09/7/2018 20:33

The plot has been a thin gruel ever thinning.

[casual47] 09/7/2018 20:32

Mattias joined several years ago as a director. Whatever rabbit might have been in his hat it must have been pulled out a long time ago. This change should not make much of a difference.

[hguess16] 09/7/2018 19:32

Picked from Wiki - Restructuring
"The basic nature of restructuring is a zero sum game. Strategic restructuring reduces
financial losses, simultaneously reducing tensions between debt and equity holders to facilitate a prompt resolution of a distressed situation ".

So far, Tethys restructuring has resulted in a huge dilution in the value of Tethys shares !.

[temporarily insane] 09/7/2018 18:49

The plot thickens.......

[temporarily insane] 09/7/2018 18:36

Interesting development though.

[temporarily insane] 09/7/2018 18:35

Well, all these changes for restructuring and over 70 News releases via Tethys Petroleum over 3 years and the share price sits at 1 cent above..........




so far

[hguess16] 09/7/2018 16:37

Interesting development !.
Let us see what value Mattias Sjoborg, brings as interim CEO, compared to the recent restructuring process that he was involved in.
Yet to see any evidence of any restructuring benefits !.

[1399peter] 09/7/2018 15:08

Still signs of life then and those continued efforts. Not sure if its just box ticking or genuine, we will see.

[casual47] 09/7/2018 14:07

Newsfile Corp. - July 9, 2018 - The Board of Directors of Tethys Petroleum Limited (TSXV: TPL.H) ("Tethys" or the "Company") today announces that Mr. Sam Barrows, Interim Chief Executive Officer ("CEO"), has decided to step down with immediate effect. The Board wishes to express its appreciation to Mr. Barrows for his excellent contribution to Tethys, during which time the group increased its oil price by 84% and streamlined its group cost structure substantially.

The board also announces Mattias Sjoborg as its new Interim CEO. As a Board Director, Mattias has led the company's recent restructuring process and will continue its implementation

[casual47] 09/7/2018 10:53

Who would want to invest when TPL is in the middle of a turf war?

[1399peter] 09/7/2018 10:49

Hguess,

Perhaps Tethys have become far to toxic for newbie investors, I mean the so called ones we have aren't exactly in any rush to get their bank cards out.

Obviously none of us know 100% what will happen here, but we can't ignore that writing on the wall.............perhaps a Chinese wall.

[hguess16] 08/7/2018 22:01

Good point Casual !.
Secured or Unsecured !.
The crunch is if the Creditors can prove that the ongoing dance can provide adequate
promise of a return of interest and principal from " revenues " ?.
That's why I have been pushing for a new influx of cash to fund more drilling, using proven reserves, but it seems that my proposal has been ignored !.

[casual47] 08/7/2018 21:28

One thing to look for in the financials: have any of the loans changed status from unsecured to secured?

There was only one secured loan taken out by TPL (or its subsidiaries) and that was the rig loan (now paid off).

[1399peter] 08/7/2018 21:24

Hguess,

Sorry mate I can't share your optimism. I am not for one second going to think that these guys are going to turn it around. That would be like asking for another kick in the balls.

[hguess16] 08/7/2018 20:41

1399Peter,
Who blinks first or do they care ?.
Are they going to the wire at the risk of handing it all to the vultures ?.
What would be the real value of the net assets ?.
Creditors will be first in the queue.
Shareholders will be at the bottom of the pyramid incl Pope, Olisol and us.
Is this a game of KZ poker where both major players pull out and hope for the remains of what's left after the vultures have gorged on the carcass ?.
There must be a way out of this mess, but to date, the only news out, has been negative !.
Is this a deliberate slow dance of death or will the removal of the 7th veil reveal some compromise ?.
End July, with the Financials, may provide a clue !.

[1399peter] 08/7/2018 16:54

Hguess,

This is where I doubt very much Olisol or Tethys even care about that Money paid or invested to date. Because if they plan to buy the assets after liquidation for pennies then they get their money back that way and more.


I don't know if those rigs we have just sold where capable of drilling Klymene but if they were why the fuc# didn't our so called investors stump up and get it started.

Because they are keeping their FU#KING powder dry for when it suits them better is why!!

I am not going to cut these guys anymore slack until they prove they really do want this to work, because I really am not getting that impression at the moment

[hguess16] 08/7/2018 16:41

Getting back to what matters to us now, is it heresy to suggest that maybe it is time for Olisol and Pope to try and get back together, although I was extremely critical of the deception and disruption caused by Olisol, in virtually bankrupting Tethys during the last 18 months.
Is this feasible or is it too late ?.
Remember that Olisol stand to lose its $6.3m paid for its 63m Tethys shares plus its
w/c of $5.8m if Tethys collapses !.