Tethys Share Discussion Threads

[tankerton] 20/3/2024 22:39

With regards the slippage in timescales I believe them to be acceptable given the workload, timelines and the environment and country they are operating in.
The main point to take from this RNS is that a production license is still very much on the cards and that is good cause to be positive.

[dr3dd] 20/3/2024 22:35

I think we all expected this, in fact I think we commented on this....and about time eh! 👍🏼


All the major investors have their fill of extremely cheap orchestrated shares now lets see this company share price rise.

[tankerton] 20/3/2024 22:32

Dr3dd,
Personally I think the rise in reserves is just the start of a number of upgrades.
They could hardly say that reserves which had shown a large rise only to be followed by a big drop had suddenly shot up again. I think this is a case of saving face and I expect more upgrades in due course.

[dr3dd] 20/3/2024 22:14

Ok, just the usual small delays!!!! Standard but well done for keeping us informed.

Interesrting to see everything up 8-10%......I expect to see the share price rise the same! LOL


BIG NUMBERS FOR A SMALL SHARE PRICE...!

[tankerton] 20/3/2024 22:03

Tethys Petroleum Press Release: Corporate update
NewsfileMar 20, 2024 5:59 PM EDT
Grand Cayman, Cayman Islands--(Newsfile Corp. - March 20, 2024) - Tethys Petroleum Limited (TSXV: TPL) ("Tethys" or the "Company") is pleased to provide an update on the Company's operations in the Republic of Kazakhstan.

Regulatory update

On March 12, Tethys received gas flaring permits for exploratory wells from the Ministry of Energy. Subsequently, Tethys completed an application for an ecology permit, which is essential for oil production from the KBD-10 and KBD-11 wells scheduled for April. The Company hopes to receive the approval by April 5.

Regarding the commercial license, while the Working Group for the Gas Processing Program of the Ministry of Energy provided a positive review on March 1, the Ministry has not yet issued the official minutes of the Working Group, causing a delay beyond the March 15 deadline. Consequently, Tethys has initiated the process of reapplying for the ecology permit necessary for commercial production. The Company is hoping to receive the commercial license by the end of May. The oil handling and gas utilization facilities are not yet complete, but the Company expects to have them in place and operational when the commercial license is received.

Reserve report

Tethys engaged McDaniel and Associates Consultants to provide a reserve report as of December 31, 2023. This report has now been completed and was prepared in compliance with NI51-101, Standards of Disclosure for Oil and Gas Activities and the COGE Handbook. Overall, the total proved and total proved + probable reserves are up about 3.7 Mboe (8%) and 3.5 Mboe (4%) respectively. The following is a summary from the report:


2023
2022
Reserve Category Barrel of Oil Barrel of Oil

Equivalent (net Mboe)
Equivalent (net Mboe)
Total Proved Reserves 49,493
45,814
Total Proved and Probable 85,676 82,193
Total Proved, Probable, and Possible 126,454 124,534


2023

2022












Total of NPV after

Total of NPV after

taxes ($M US Dollars)

taxes ($M US Dollars)













Reserve Category 0.00%
10.0%
0.00%
10.0%
Total Proved Reserves $ 640,549 $ 383,223 $ 603,795 $ 361,274
Total Proved and Probable $ 1,190,616 $ 628,707 $ 1,174,301 $ 610,474
Total Proved, Probable, and Possible $ 1,876,916 $ 883,849 $ 1,888,997 $ 891,946​


Crude Oil NPV



Crude Oil NPV


Reserve Category 0.00%
10.0%
0.00%
10.0%
Total Proved Reserves $ 628,240 $ 373,235 $ 576,885 $ 340,032
Total Proved and Probable $ 1,166,837 $ 612,370 $ 1,130,528 $ 580,471
Total Proved, Probable, and Possible $ 1,845,856 $ 863,768 $ 1,836,017 $ 857,825



Natural Gas NPV



Natural Gas NPV


Reserve Category 0.00%
10.0%
0.00%
10.0%
Total Proved Reserves $ 12,309 $ 9,988 $ 26,910 $ 21,242
Total Proved and Probable $ 23,779 $ 16,337 $ 43,773 $ 30,003
Total Proved, Probable, and Possible $ 31,060 $ 20,081 $ 52,980 $ 34,121


The difference in the estimated reserve value on the gas fields is due to a reduction in the expected prices.

[1399peter] 20/3/2024 19:11

Very true Dr3dd,

And it's bloody depressing to think about the years this has been in the doldrums. We do however seem to be going in the right direction, although we still really need confirmation that everything is still on track.

[dr3dd] 20/3/2024 19:02

Sadly we see this, it is just a bit frustrating watching the company share price really achieve nothing for nearly a decade, based upon how the share price was previous!

The share price is only a few cents above where it was when it was valued at going bust!!!

Let us all try to explain that !

[tankerton] 20/3/2024 18:53

And a trade of 200 shares takes it up 40%
How many more times do I need to say that it is being on the TSXV that is the problem.

[dr3dd] 20/3/2024 17:36

Meanwhile back to being an active investor in Tethys Petroleum and the comedy squad!.....

[1399peter] 19/3/2024 19:09

Well at least we have a little bit of trading today. Honestly, you need the patience of a saint with this one.

[1399peter] 19/3/2024 13:11

Not meaning to sound pompous here


Bill used to work for goldman sachs having graduated from Ivy League, Dartmouth uni.

You would like to think that he has explored all of the best options by now. His had plenty of time. lol

[tankerton] 19/3/2024 12:42

Can someone remind me of Bills email address and I will argue the benefits of a move to the TSX at the earliest opportunity or if anyone else wants to contact him.

[1399peter] 19/3/2024 12:12

Exactly, it would be a straight forward move. No point in over complicating things at this stage.

[tankerton] 19/3/2024 11:00

In fact if I recall correctly the original plan was to list on the TSX but because they didn't meet the criteria for the TSX at that time they ended up on the TSXV.
Therefore it goes without saying that if the company are now in growth mode then a move to the TSX would be relatively easy to achieve, given the benefit it would bring to investors.

[tankerton] 19/3/2024 10:28

Peter, whilst I am mindful of Bills comment's about moving to the NYSE, I agree that the most immediate benefit to Tethys would come from a move to the TSX. That alone would make it much easier to trade and far less volatile. They could always move to the NYSE when they have beefed the company up.

[zangdook] 19/3/2024 10:27

or move back to London. AIM would be fine.

[1399peter] 19/3/2024 10:22

I personally don't think the NYSE can be considered for a long while yet. Perhaps years.
The most practical thing to do in the current situation would be to move to main index of the TSX.

[tankerton] 19/3/2024 10:15

In addition, I think the only thing to be negative on at the moment is the exchange we are on. We've seen what happens when there is a consistent buyer and indeed a seller. Everything in-between is just the trading bots. While I don't think an exchange move is a priority at the present time, I do think that if Tethys want to be taken seriously then they need to move to a proper exchange ASAP.

[tankerton] 19/3/2024 09:52

Peter, while I agree with what you say, I feel it to be a reason to be neutral at worst, not negative. There have been years when negativity was fully justified but I don't think that applies now.

[1399peter] 19/3/2024 09:41

tankerton,

Wholly agree. I am feeling more positive than I have done for a long while. "BUT" you still have to be prepared for anything regarding the Kaz authorities and Kaz in general. That is my main concern.

So until the licenses are granted, I will keep em crossed.