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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Tethys | LSE:TPL | London | Ordinary Share | KYG876361091 | ORD USD0.10 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.125 | - | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Date | Subject | Author | Discuss |
---|---|---|---|
19/7/2018 13:28 | Menameismud /TI I too perceive that Wells is not in control of Tethys in KZ. He seems to have underestimated the "havoc" that Olisol/EGG would cause. He is trying to plug the holes in the Tethys ship by using a dilution of equity strategy in order to prevent it from sinking. I am surprised that the "restructure expert" Sjoberg is pursuing only equity dilution instead of a two pronged debt/equity strategy. I was even more surprised when he took on the role of interim CEO !.Maybe this is just a very short term holding operation until a final decision is made. Wells has to decide whether he wants to negotiate amicably with Olisol in order to bring about stability so that Tethys could tap into debt in order to focus on drilling big time similar to Nostrum. | ![]() hguess16 | |
19/7/2018 12:55 | menameismud, if that is the case, does anybody know what these two companies can give Tethys as I have done a quick search and can find similar names but not exactly. | ![]() temporarily insane | |
19/7/2018 12:23 | Pope is getting diluted at chicken feed prices also, and since this within in the control of Wells the only logical conclusion is that the new investors are needed for connections etc rather than for the funds. I assume Pope have funds that they could pump in, as debt or equity, if Wells felt confident that the situation was finally under control, so there is no real funding reason for the equity issue. No one will lend to Tethys even secured against the reserves while there is doubt about Tethys ownership of the reserves or their ability to extract them profitably. The failure to produce accounts on time and the failure to follow the terms of the cease trade order do suggest incompetence may be another explanation for the farce however. Hopefully we will get some indication of what is really going on by mid-august. | menameismud | |
19/7/2018 10:10 | For the last two years, I have told Tethys Mgt ( see my BB requests) about using all the oil and gas reserves under the ground,as collateral, in order to obtain debt to fund drilling. So far the response has been negative as they keep on using Dilution of Equity for "peanuts" in order to keep the ship afloat. To date, we have yet to hear if any drilling is going on at all !. I hope some oil and gas is being produced and that Tethys is receiving more revenues from the increased prices mentioned in the previous news release. Wells, as chairman, has to decide whether Pope and other major investors are willing to " bite the bullet" and commit to a realistic drilling program using Debt rather than " chicken feed " from diluted equity !. I hope they are listening and reviewing alternative debt strategies instead of diluting us out of existence !. | ![]() hguess16 | |
18/7/2018 20:49 | To start drilling, you need money and that money has to come from debt NOT from diluting shares for peanuts !. | ![]() hguess16 | |
18/7/2018 20:06 | This latest news is just a replacement of the earlier investors, Zhalmaganbetov and Madeuov by Jaka Partners and Gemini IT. Still no positive news on the restructure of Tethys by the restructure expert and new interim CEO and board director, Mattias Sjoborg. So far, only dilution of Tethys shares !. | ![]() hguess16 | |
18/7/2018 19:43 | I reiterate to the Board of whoever is running this asleep company..... FFS......... | ![]() temporarily insane | |
18/7/2018 18:04 | Tethys to sell shares to Jaka Partners, Gemini IT 2018-07-18 12:13 ET - News Release An anonymous director reports AGREEMENTS TO ACQUIRE SHARES IN TETHYS PETROLEUM AND OIL & GAS LICENSE EXTENSIONS Tethys Petroleum Ltd. has signed binding agreements with private investors, Jaka Partners FZC and Gemini IT Consultants DMCC, to acquire ordinary shares in the company. The key commercial terms of the share acquisition agreements are summarized below. The Share Acquisition Agreements are subject to, among other things, receipt of approval from the NEX Board of the TSX Venture Exchange (the "NEX") and other regulatory approvals which may be required. The Company expects that, subject to satisfaction of the conditions noted above, the placings would close on or around the end of July 2018. Summary of Share Acquisition Proposals: The Investors will each acquire 31,758,506 ordinary shares of Tethys which, will result in each Investor acquiring approximately 6.25% of the currently issued share capital of the Company. The price for the ordinary shares is US$0.01918 per share. The total proceeds will amount to approximately US$1.2 million. The Company will grant each Investor share purchase warrants giving each Investor the right to acquire up to 31,758,506 ordinary shares of Tethys for a period of one month from the grant date. The exercise price for the warrants will be US$0.02152. Neither Investor will be entitled to exercise the warrants if that would result in such Investor and his affiliates holding 10% or more of the then issued and outstanding ordinary shares (after giving effect to such conversion) until such time as the NEX has approved Personal Information Forms ("PIFs"). Abay Amirkhanov will be appointed to the Board of Directors of the Company on closing of the placings provided he has filed a PIF and, along with the other directors, he will be nominated for re-election at the next General Meeting of the Company in accordance with the Company's Articles of Association. Previous Proposals to Acquire Shares The proposals to acquire shares in the Company announced on January 23, 2018 will no longer be proceeding. Oil & Gas License Extensions The Company announce extensions of two of its Oil & Gas licenses in Kazakhstan. Contract No. 3496 for gas production in the Akkulka Field has been extended for a further eight years until December 23, 2026 and the related work program for the period 2019-2016 has been approved. In addition, Contract No. 265 for appraisal of the Akkulka Oil & Gas Area has received Ministry of Energy approval for a three year extension of the exploration period until March 10, 2022, provided the Company meets certain conditions. The Company currently produces oil in this contract area under a pilot production license. About Tethys Tethys is focused on oil and gas exploration and production activities in Central Asia and the Caspian Region. This highly prolific oil and gas area is rapidly developing and Tethys believes that significant potential exists in both exploration and in discovered deposits. | ![]() temporarily insane | |
11/7/2018 22:33 | 1399Peter, You may be right and, perhaps my hope that there might be some light at the end of the Tethys tunnel, could be wishful thinking. My hope is that the BOD now realise that it takes more than "petty cash" from equity dilution to resuscitate the Tethys business at this late stage. | ![]() hguess16 | |
11/7/2018 22:15 | Fine words hguess, I admire your optimism. I think we will be as disappointed with their next statement as we've been with all the others. | ![]() 1399peter | |
10/7/2018 22:55 | TI, My perception is that the BOD are not planning to steal the company. As I've said before, they failed to realise or foresee the challenges that lay ahead of them in trying to rescue Tethys, following the Robson era. We are at the bottom of the queue here and can only hope that the BOD can somehow come up with some sensible solutions, even at this late stage, that can restore financial health to Tethys that still has oil and gas reserves which need to be extracted economically and sold at a profit in a KZ "business environment" !. Is this possible ?. I think it is !. | ![]() hguess16 | |
10/7/2018 22:27 | I thought the Group was able to increase its oil price due to the Supreme Court ruling which occurred before Mr Barrows joined Tethys !. Am I correct ? Can someone correct me if I am wrong !. In any case, when will the 84% increase be reflected in increased revenues of Tethys ?. | ![]() hguess16 | |
10/7/2018 22:25 | Ticking boxes mate, that's all they seem to be doing | ![]() 1399peter |
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