Timan Share Discussion Threads

[john henry] 08/12/2015 16:12

Thank you Miamisteve.

Just one question Maimi is that to sell all the assets including our 25% of NPNG after the transaction has been completed.

[kaos3] 08/12/2015 16:06

very good. thank you

[miamisteve] 08/12/2015 16:00

The meeting was held and the resolution was passed with a 62% majority.

Levants rep was the only vote opposed to the deal.

I met Dmitry yesterday before he flew to Moscow to conclude the transaction.

It is now our intention to call a CVA to settle with the final creditors and then to sell the assets of the company buy back shareholders stock.

[arthurdaley69] 07/12/2015 13:57

Gentlemen,

Once again, I am totally confused.

I have been a reluctant shareholder of this company for over 7 years, during which time we have gone from thriving, to administration and yet the beast still lives.

Realistically, have we got any chance whatsoever of getting some money back? If there is, does anyone on this bb have the ear of the board, and can negotiate some sort of "get-out"?

For me this is long ago. written-off money; if I received 5p per share it would be like finding £20k....2.5p would work too.

Years ago, I attended meetings with management and other (disgruntled) shareholders...it feels to me like most people have thrown the towel in, but
I am not too proud to do a little work for those sort of numbers.

I look forward to reading your replies.

[cfccfc1970] 06/12/2015 11:12

How can you cancel a formally convened meeting? and why would you want to?

[excell1] 06/12/2015 10:15

February,what is wrong with later this month?

[backtothesoil] 05/12/2015 09:48

I am amazed a meeting of this kind should be called off with no attempt to contact shareholders. I returned voting forms and had intended going but something else turned up. I would have been furious had I arrived to find it cancelled.
Perhaps somebody close to the company can explain what is going on.

[astorcourt] 05/12/2015 09:43

I understand that the meeting was cancelled and re-scheduled for february

[backtothesoil] 04/12/2015 15:48

Can anybody tell us what the result of today's vote was? Any other comments from anybody who attended the meeting would also be very welcome.

[olivercromwell] 04/12/2015 11:02

Will we come away with something here? I hold around 15000 shares which isn't much in capital terms but at some point in the future they may attract a value

Thanks Miami for your efforts to date

[cfccfc1970] 03/12/2015 07:19

cfccfc1970
23 Nov'15 - 13:29 - 9759 of 9772

Miami,
Many thanks for your help.
Grateful if you or someone from the company can explain the ramifications of this deal and the way forward for Tman should this deal go through.

In essence what are Tmans assets, eg 25% of NGPT, can someone state what the proved and probable reserves are.
What other assets do Tman hold
Will Tman be debt free
Will Tman be in a CVA or will all debts / creditors have been paid
If no debt what is the plan moving forward to realise value
What is Araca view business plan.

Miami any clarification be grateful.

[jaynealex] 28/11/2015 09:50

By the way ... I have had no notification of Corporate Action on my TD nominee account

[miamisteve] 26/11/2015 16:22

753690 - The loan as I stated before converts to the 75% stake in NGPT after shareholder approval.

Levant had nothing to do with this deal and may actually vote against the proposal at the GM.

[753690] 24/11/2015 13:06

This approach is very similar to the business plan
adopted by Falcon Oil & Gas to their interests in
Australia and South Africa.
Based on the loan value, Timans 25% share is now worth
less 1 penny per share. Add in the free carry development
costs and it is worth substantially more.
Providing the loan money is used wisely & competently
to prove up the seismics on the Caspian asset, the
cost for an on-shore drill will be approximately 20M
It is to be hoped that Timan can farm-out 75% of this asset
to obtain a free carry!
In my opinion, this recent news is largely the consequence
of pro-active thinking by the new major share-holder, Araca
and Levant, and in the circumstances, they should certainly
be elected to the Board

[moormoney] 24/11/2015 12:24

A long wait for benefits IMO but we now have some hope!

[kubok012] 24/11/2015 12:11

How minorities can benefit from this transaction?

[excell1] 24/11/2015 10:30

Thanks Miami.To second what cfcc mentioned. Can we now have a little more detail
and get some meat on the bones.

[john henry] 23/11/2015 16:01

Thats excellent news BTTS 25% free carry no debt, money to complete seismic and hold Caspian license.

TMAN has value for its shareholders.

Im guessing the company can then be sold.

[backtothesoil] 23/11/2015 15:44

john henry

Yes

[john henry] 23/11/2015 15:32

Will Tman be getting a free carry on their 25% ????

[astorcourt] 23/11/2015 15:08

Probably another EEL.

[moormoney] 23/11/2015 15:05

Early days but looking much more positive. 25 per cent of a massive field and debt free, thanks Miami.
Future plans are probably up in the air while they collectively sigh with relief!! IMO

[odvod] 23/11/2015 13:35

trading in shares will be re-introduced or not?

[cfccfc1970] 23/11/2015 13:29

Miami,
Many thanks for your help.
Grateful if you or someone from the company can explain the ramifications of this deal and the way forward for Tman should this deal go through.

In essence what are Tmans assets, eg 25% of NGPT, can someone state what the proved and probable reserves are.
What other assets do Tman hold
Will Tman be debt free
Will Tman be in a CVA or will all debts / creditors have been paid
If no debt what is the plan moving forward to realise value
What is Araca view business plan.


Many thanks