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TPL Tethys

1.125
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
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 Shares Traded Last Trade
  0.00 0.00% 1.125 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 1.125 GBX

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Posted at 18/11/2024 22:52 by bahamasoil
Corporate Update Tethys Petroleum Press Release (TSXV: TPL) Grand Cayman, Cayman Islands - Tethys Petroleum Limited (TSXV: TPL) ("Tethys" or the "Company") is pleased to announce that it has received the Ecology permit for oil production at Kulbas. This permit is valid through December 31, 2024. The company is in the process of commissioning the facilities to start production from KBD #2 and KBD #6 as soon as possible. The commissioning with the connection to KBD#7 is scheduled to be started on December 1, 2024. The Ecology permit application for 2025 is currently under review by the Ecology department. The permit for the gas flaring for 2025 has already been received.
Posted at 12/11/2024 18:31 by tankerton
Bahamas oil.
You are absolutely correct in saying that there needs to be a free float of shares for an IPO.
That in effect means that there would need to be a placement at the point of the IPO to create that free float. That placement would either come from new shares issued by the company or shares being sold by major shareholders. One of the main reasons for a NYSE listing would be to grow the company so a placement would facilitate that.
There are two reasons why the company feel that a NYSE listing is not appropriate at the current time.
The first is because of costs at a time when they are trying to conserve cash with any movement needing to be worth the capital outlay.
The second reason is possibly more telling in that the company and it's main shareholders do not want to do a placement at what they feel would be too low a price.
The plan in my opinion is to grow the company on its present exchange and then at the right time move to the NYSE.
Posted at 08/11/2024 23:39 by dr3dd
Meanwhile for our fellow investors, this is what was happening back in 2013.....................in the ice age of Tethys Petroleum....!


Tethys Petroleum’s Kazakhstan operations update
Oilfield Technology, Thursday, 12 December 2013 13:00

Exploration wells
The AKD08 ("Doto") exploration well has reached a total depth of 3556 m and electric logs have been run to TD in the 8 ½ in. hole section. As was previously announced, hydrocarbon indications have been observed in both the Cretaceous and Jurassic sections whilst drilling and from the wireline logs. The well has now been cemented off at the lower Triassic level and the well is being prepared for a testing program on both the Jurassic and on the Cretaceous intervals. Testing of the first zone is expected to take place by the end of December once appropriate Kazakh regulatory approvals have been received. The deeper Triassic section will not be tested as only low permeability zones were encountered.

The AKD09 ("Dexa") exploration well has reached a total depth of 2452 m and electric logs have been run. The primary exploration target of the well, the Cretaceous "Doris" channel sandstone, does not appear to be hydrocarbon bearing at this location. The well was targeted at this level to evaluate the potential upside of the Doris field in the area to the north-east of the field. The well is now being prepared to drill a semi-horizontal Doris development well in the Jurassic Limestone sequence close to the Doris field discovery AKD01 well which tested 1373 bpd of 46°API oil from this sequence. The AKD01 well has not to date been commercially produced from the Jurassic as it is currently producing from the Cretaceous sand and therefore this area of the reservoir will be unswept. The AKD09H well will provide a longer production interval in this fractured reservoir sequence using an approach which is commonly used in such zones.

A successful cementing procedure has been carried out on the KBD01 ("Kalypso") well and a comprehensive stimulation and subsequent testing programme, to be conducted primarily by Schlumberger, will commence mid-December, initially on the Permo-Carboniferous interval. The testing programme will involve acid-fracture stimulation of the carbonate interval approximately 4100 m below the surface and will take up to one month to complete. Electric logs run over this section and drilling data indicated more than 100 m of gross potential hydrocarbon bearing zones.

Further exploration
The initial results of the additional seismic acquired in the summer of 2013 are very promising and the first interpretation indicates a prospect in the Kul-Bas Exploration and Production Contract area to the west of the Akkulka Exploration Contract Area (to be named "Klymene"), with the potential to be an order of magnitude bigger than the Doris oil discovery and surrounding prospects (the geographical area of the prospect is up to ten times the areal extent of the Doris oilfield). It appears to have good four-way structural closure and positive indications on the newly interpreted seismic. Prospective Resources to NI 51-101 standards are being independently prepared with further information expected to be provided early next year. It is expected to spud this new well in the first half of 2014.

Shallow gas drilling program
Currently the tied in gas wells on Kyzyloi and Akkulka can produce approximately 360 000 m3/d (13 million ft3/d). At the current gas price (recently doubled in price to net US$ 65/1000 m3) this production generates approximately US$ 8.3 million/yr in revenue.

The forward gas programme has two aspects: those wells that have been previously drilled and tested that will be tied in and new shallow gas wells with up to 10 new wells planned for 2014.

Previously drilled and tested wells will be brought on stream over the next 12 months, at different stages dependent on their particular location and contract status.

The AKK14 well was drilled in 2008 and tested at 195 000 m3/d (6.9 million ft3/d) in the Tasaran horizon. This gas well has been approved and incorporated under the Akkulka production contract. It will be worked over and brought on production in January 2014 and is already tied into the pipeline system.

The AKK05 well was drilled in 2005 and tested at 223 000 m3/d (7.9 million ft3/d). This will be worked over in February 2014 whereupon it can be produced for 90 days test production. It is expected that it will be approved and incorporated under the Kyzyloi production contract by Q3, 2014 whereupon it can be placed on permanent production, also already being tied into the infrastructure.

The AKK15 and AKK16 wells were drilled in 2008 and tested at 195 000 m3/d (6.9 million ft3/d) and 289 000 m3/d (10.2 million ft3/d) respectively. Additional wells will be drilled in proximity to AKK15 and AKK16 next year and these pipelines will be laid and tied into the optimised infrastructure.

In addition to these tie-ins of already discovered gas accumulations, a comprehensive shallow gas drilling program will be carried out in 2014 to drill up to 10 new shallow gas wells. The initial well locations have been chosen with further targets to be identified close to the gas pipeline after the interpretation of 3D seismic data. These wells are targeting gas at 600 - 800 m at the deeper, higher pressured Tasaran sand level that tested strongly on the AKK14 and AKK15 wells, as currently the production is exclusively from the shallower Kyzyloi stratigraphic level. On the previous drilling campaign, 11 out of 13 shallow gas wells were successful and the subsequent seismic acquired (including 3D) is of better quality.

This programme would be expected to significantly increase gas production.

Bozoi-Shymkent-China gas pipeline
The recently completed Bozoi-Shymkent-China gas pipeline means that for the first time Tethys has two gas pipelines into which it can sell its gas; the pipeline taking gas to China, and the existing Bukhara Urals trunkline that transports gas from Central Asia into Russia and on to Europe. Currently the Chinese pipeline is only taking domestic gas within Kazakhstan to Shymkent but in 2015, gas sales to China will commence.

Tethys' strategy is to carry out the comprehensive outlined program in 2014 in order to complete all work and have all government permissions to commence selling into the Kazakhstan-China pipeline by year-end 2014 when it expects to achieve a significantly higher net price than the current net price of US$ 65/1000 m3. Tethys believes that currently Chinese buyers are buying gas from Central Asia at much higher prices than this and Tethys expects the price it receives to rise again at that time.

Tethys is focused on oil and gas exploration and production activities in Central Asia and the Caspian Region with activities currently in the Republics of Kazakhstan, Tajikistan, Uzbekistan and most recently is now moving into Georgia. This highly prolific oil and gas area is rapidly developing and Tethys believes that significant potential exists in both exploration and in discovered deposits.
Posted at 20/10/2024 10:33 by dr3dd
Could we see a rise in the share price seeing as the news release was a lot better than we are used to seeing?
Posted at 17/10/2024 21:58 by dr3dd
We all know what the share price is going to do tomorrow now dont we. 500 sell at 9.30 Canadian time!
Posted at 16/10/2024 15:11 by dr3dd
The slapdash bunch better get something done or there wont be any share price left .
Posted at 14/10/2024 20:13 by dr3dd
A bit like this whole year can be added to the rest that have been wasted achieving the bare minimum.

We should be having a word with our lawyers about this amount of time wasting and lack of share price progress.
Posted at 14/10/2024 14:41 by dr3dd
Well it certainly has put a rocket up the share prices ass........NOT!

It is bordering on extremely embarrassing.
Posted at 12/10/2024 02:59 by j4ckster
FINCRAFT GROUP LLP ACQUIRES ORDINARY SHARES OF TETHYS PETROLEUM LIMITED

Canada NewsWire

ALMATY, Kazakhstan, Oct. 11, 2024

ALMATY, Kazakhstan, Oct. 11, 2024 /CNW/ - Fincraft Group LLP ("Fincraft") announced that it has entered into share purchase agreements providing for the purchase of an aggregate of 30,959,133 ordinary shares (the "Purchased Shares") of Tethys Petroleum Limited ("Tethys") through three private purchase transactions (collectively, the "Purchases"). The Purchased Shares represent approximately 26.95% of the issued and outstanding ordinary Shares of Tethys. Pursuant to the purchase agreements, the Purchased Shares will be acquired at a price of US$ 0.540570016 (C$0.7435 based on the Bank of Canada daily rate of exchange on October 10, 2024) per Purchased Share, for an aggregate purchase price of US$16,735,579.02 (C$23,018,115.39). The purchase of the Purchased Shares is subject to certain approvals and is expected to be completed during the fourth quarter of 2024.

Prior to giving effect to these transactions, Fincraft beneficially owned no Ordinary Shares.

Fincraft intends to acquire the Purchased Shares for investment purposes. Fincraft may, from time to time, acquire or dispose of ordinary shares or other securities of Tethys in the future, either on the open market, in private transactions, pursuant to an offer to acquire outstanding securities of Tethys, through a corporate transaction involving Tethys, through treasury issuances, exercises of convertible securities, or otherwise, in each case, depending on a number of factors, including general market and economic conditions and other available investment opportunities. Depending on market, economic and industry conditions, the business and financial condition of Tethys, and other relevant factors, Fincraft may develop other plans or intentions in the future relating to Tethys.

A portion of the Purchases will be completed from one seller in reliance on the private agreement exemption available under section 4.2(1) of National Instrument 62-104 Take-Over Bids and Issuer Bids.

Tethys' head office is located at 802 West Bay Road, Grand Cayman, KY1-1205, Cayman Islands.

This news release is issued under the early warning provisions of applicable Canadian securities legislation. A copy of the early warning report filed in connection with the investment will be available on Tethys' profile on SEDAR at www.sedar.com or may be obtained by contacting Timur Seilov at +7 (727) 355-0151.

About Fincraft

Fincraft is a diversified holding company founded in 2014 and led by Kenges Rakishev. The Group operates in five key segments: oil & gas, mining & processing of metals, educational services, distressed asset management, and other activities. Fincraft is headquartered at Dostyk Avenue 300/26, Almaty, Kazakhstan A25D7Y.

SOURCE Fincraft Group LLP

View original content: hxxp://www.newswire.ca/en/releases/archive/October2024/11/c9202.html

Copyright CNW Group 2024
Posted at 20/3/2024 19:02 by dr3dd
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 !
Tethys share price data is direct from the London Stock Exchange

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