Fred Prior
31 Jan 2017
All EGM Resolutions Passed being as the company cannot be bothered to update shareholders I thought I would do the honours.....Sooner this piece of sheet gets taken out the better, a brothel in Whitechapel is no doubt managed better than this company.
bertie20
21 Jan 2017
News Two news items:-1) January 20, 2017Tethys Petroleum Press Release, Friday, January 20, 2017 - New Director AppointmentGRAND CAYMAN, CAYMAN ISLANDS--(Marketwired - Jan. 20, 2017) - Tethys Petroleum Limited (TSX:TPL)(LSE:TPL) ("Tethys" or the "Company"
is pleased to announce the appointment of Medgat Kumar to the Board of Directors of the Company effective today.Medgat Kumar is the owner and Director of Petro Impex Trade LLP. Petro Impex Trade LLP is a Kazakhstan based company whose primary activities are trading of crude oil and petroleum products, oil refining and terminals businesses.2) Location: Atlanta, Georgia, USA2017-01-27 16
00 UTCAn extraordinary general meeting of the shareholders of Tethys Petroleum Limited will be held at the Embassy Suites by Hilton Atlanta Airport, 4700 Southport Road, Atlanta, Georgia, 30337 on January 27, 2017 at 110am EST.Bertie.
Gunnersyeo
29 Nov 2016
RNS Completion of Private Placements Tethys Petroleum LtdCompletion of Private PlacementsTETHYS PETROLEUM LIMITEDTSX, LSE SYMBOL: TPLNovember 29, 2016Completion of Private PlacementsGRAND CAYMAN, CAYMAN ISLANDS--(Marketwired - Nov. 29, 2016) - Tethys Petroleum Limited (TSX:TPL)(LSE:TPL) ("Tethys" or the "Company" today announces that it has completed the previously announced private placements ("Placements" with Winston Sanjeev Kumar Soosaipillai and Medgat Kumar (each, an "Investor" and together, the "Investors". The Placements bring much needed funding to the Company as well as provide it with strong in-country partners in Kazakhstan and internationally. The key commercial terms of the Placements are summarized below. Summary of Placements-- The Investors, through nominee companies, have each acquired 43,951,698 ordinary shares of Tethys which results in each Investor individually acquiring approximately 9.0% of the enlarged share capital of the Company. The price for the ordinary shares is US$0.01593 per share representing a 24% premium to the five day volume weighted average price preceding the November 6, 2016 offer date ("VWAP". The total proceeds amount to approximately US$1.4 million. -- The Company has granted each Investor share purchase warrants giving each Investor the right to acquire up to 96,150,000 ordinary shares of Tethys for a period of three years from the grant date. The exercise price for the warrants is US$0.031 representing a 138% premium to the VWAP. If both Investors were to exercise all of the Warrants granted to them, each Investor would own approximately 19.9% of the ordinary shares of the enlarged share capital of the Company. Neither Investor may exercise any warrants if after such exercise, the Investor would become a 10% shareholder of the Company until such time as the Toronto Stock Exchange ("TSX" has approved a personal information form (a "PIF" to be submitted by such Investor. Further, the Investors may not exercise more than an aggregate of 12,097,816 warrants unless shareholder approval has been obtained for such exercise. The Company has agreed to call and hold a shareholder meeting for shareholders to consider, and if thought fit, approve the exercise of such warrants as soon as reasonably practicable and in any event within 60 days from the date hereof. The Company has also agreed that should the shareholders not approve the exercise of such warrants, the Company will be required to pay to the Investors, for each outstanding warrant that may not be exercised, the amount by which the then VWAP exceeds the exercise price of the warrant. -- In connection with the Placement, the Investors have entered into voting agreements with Pope Asset Management or its affiliates, pursuant to which such shareholders have agreed to vote or use their commercially reasonable efforts to cause the voting of shares held by them in favour of the warrant exercise. In total, such shareholders hold approximately 16% of the currently outstanding shares. -- The Company has agreed to work with Annuity Life and Reassurance ("ALR", an affiliate of Pope, to convert approximately US$168,000 of debt owing to ALR into approximately 12,000,000 ordinary shares, all subject to approval by the TSX. Any such shares so issued will be subject to the voting agreement referred to above. -- Each of the Investors will be appointed to the Board of Directors of the Company once the Investor has filed a PIF with the TSX, provided that each Investor will agree to resign from the Board of Directors if the TSX does not approve the PIF so filed. -- The Company intends to use the proceeds of the Placements for general working capital purposes. -- The Investors have entered into a Relationship Agr
Fred Prior
19 Nov 2016
Lots of shorts need to unwind interesting next few weeks.Great company and it does not deserve to only be valued @4MWay way oversold and way way undervalued, watch this space as Fred picks yet another corker on its rear end!
Fred Prior
15 Nov 2016
RNS RNS RNS RNS RNS RNS RNS RNS its the early bird that catches the worm!!!!
Fred Prior
15 Nov 2016
Claim against Tethys Dismissed!! this should charge back to 2p level quick time.It seems that Olisols intentions were more sinister after all, maybe their ulterior motive along with POPE asset was to steal the company lock stock and barrel. We can all but hope that Nostrum come back with a sensible CASH offer and get rid of this skunk outfit that is Olisol
bertie20
28 Oct 2016
More News October 27, 2016Tethys Petroleum Press Release Thursday, October 27, 2016 - Update Regarding C$9.8 Million Private Placement with Olisol Investments Limited and Olisol Petroleum LimitedGRAND CAYMAN, CAYMAN ISLANDS--(Marketwired - Oct. 27, 2016) - Tethys Petroleum Limited ("Tethys" or the "Company" (TSX:TPL)(LSE:TPL) today announces that the previously announced C$9.8 million private placement with Olisol Investments Limited and Olisol Petroleum Limited (together "Olisol" has not closed by the October 27, 2016 outside date under the Amended and Restated Investment Agreement dated April 28, 2016 ("Investment Agreement". Tethys took all steps required to close the private placement and was ready, willing and able to do so, however, Olisol failed to provide Tethys with any of the C$9.8 million purchase price required to purchase the subscription shares under the Investment Agreement. Therefore, Tethys considers Olisol to be in breach of the Investment Agreement and reserves all of its legal rights.Olisol has now sent a letter claiming that it is entitled to terminate the Investment Agreement as a result of a Material Adverse Change (as defined in the Investment Agreement) having occurred. In addition, Olisol has also demanded immediate repayment, in full, of the outstanding US$5.7 million of working capital indebtedness under the terms of the Facility Agreement between Tethys and Olisol dated November 19, 2016 ("Facility Agreement" as Olisol is alleging an event of default under the Facility Agreement. Tethys disagrees with Olisol that it has the right to terminate the Investment Agreement and further disagrees that there has been an event of default under the Facility Agreement and that the amount is repayable.On October 26, 2016 the Company was notified of a claim lodged by Eurasia Gas Group LLP ("EGG" in the Almaty City Court against the Company's subsidiary Tethys Aral Gas LLP ("TAG". EGG is seeking an award equivalent to US$2.6 million at current exchange rates for the alleged failure by TAG to deliver certain minimum volumes of crude oil to EGG. EGG is a company whose principal is also a principal of Olisol. EGG's claim follows TAG's recent formal notification to EGG requiring it to settle long overdue unpaid oil sales debts of US$1.3 million within 10 days or TAG would take Court action against EGG to recover those debts. The Company's view is that the claim is without merit or substance as TAG has no contractual obligation to deliver minimum volumes of crude oil to EGG, nor is there any penalty clause in contracts entered into between TAG and EGG for failure to deliver minimum volumes of crude oil. The Company is also of the view that EGG has not followed correct legal process which requires it to notify the Company at least 30 days prior to filing a claim with the Court. A preliminary Court hearing date has been set for November 1, 2016. As a consequence of EGG's Court claim the bank accounts of TAG have been blocked.Tethys reserves all of its legal rights.Berie.
bertie20
01 Oct 2016
News October 1, 2016Tethys Petroleum Press Release Friday, September 30, 2016 - Kazakhstan Legal ProceedingsGRAND CAYMAN, CAYMAN ISLANDS--(Marketwired - Sept. 30, 2016) - Tethys Petroleum Limited (TSX:TPL)(LSE:TPL) ("Tethys" or the "Company" today announces that the Almaty City Court's Board of Appeals has found in favour of Tethys by dismissing the previously announced appeal of the claimant and upholding the earlier Court decision on August 24, 2016 to lift the seizure order over the Company's assets. The Court's decision is effective immediately, there is no right of further appeal and restrictions over the operation of the Company's bank accounts in Kazakhstan have been lifted.Bertie.
Gold or Silver
24 Aug 2016
The future Has brightened no end here.Still clouds on the horizon.But , one anticipates sunny days are in view . Good luck All And May
coldascheese
23 Aug 2016
Up only small volume for this share. Up 100%-could be a few multibagger at this rate. Lets see when Canada comes in.
coldascheese
23 Aug 2016
Moving high-could go a lot lot higher Bought some more as this could at last be the turnaround with Oilisol now taking a majority stake and putting in cash-should be headed miles higher-lets see.
Gunnersyeo
23 Aug 2016
Up on This ... Tethys Petroleum Ltd - Par Value Reduction and Corporate Update FOR: TETHYS PETROLEUM LIMITEDTSX, LSE SYMBOL: TPLAugust 23, 2016Tethys Petroleum Press Release: Par Value Reduction and Corporate UpdateGRAND CAYMAN, CAYMAN ISLANDS--(Marketwired - Aug. 23, 2016) - Tethys Petroleum Limited (TSX:TPL)(LSE:TPL)("Tethys Petroleum" or the "Company" today announces a corporate update.Par Value ReductionThe Grand Court in the Cayman Islands has approved a motion by Tethys Petroleum to reduce the par value of theCompany9s ordinary shares to USD 0.01. Accordingly, the Company is now in a position to give effect to thereduction in the par value of its ordinary shares by making the necessary filing with the Cayman IslandsRegistrar of Companies. This filing is the last remaining hurdle before the Olisol private placementtransaction (announced on April 29, 2016) can complete. The Company expects the filing to be made and theprivate placement transaction completed by September 2, 2016.Cost OptimisationThe Board of Directors has adopted a new cost optimisation programme, that once fully implemented, should savethe company an estimated USD 2.5 million a year. The programme follows an extensive review into costs andoperations that was started after the Company9s May 31, 2016 Annual General and Special Shareholders Meeting.Other ItemsAs referred to in our Q2, 2016 financial statements the assets of one of the Company9s Kazakhstan subsidiariesremain frozen after the first Court hearing of a claim brought against the Company by a private individual inrelation to the USD 7.5 million debenture due June 30, 2017 originally issued to AGR. The Court is scheduled tohold further hearings on Tuesday, August 23. Tethys expects a release of its assets and hopes for dismissal ofall claims. Tethys has been working tirelessly to resolve what it believes is an unfounded claim.Management commentsKenneth May, Interim Chief Executive Officer says: "The Company has been through a challenging time. Workingwith Olisol, the Company should be able to boost profitability by restarting the shallow gas drilling programmeto increase production, while at the same time cutting costs and increasing efficiency."About TethysTethys 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 potentialexists in both exploration and in discovered deposits.About OlisolOlisol and its subsidiaries and affiliates have investments in energy and oil and gas operations in the RussianFederation and Kazakhstan. The Company has more than seven years of experience with Tethys in Kazakhstan andowns the Aral Oil Terminal in partnership with Tethys. Olisol has its own fleet of specialized oil tankersengaged in automobile transportation of oil from the Tethys fields and through its subsidiaries, is engaged inrail transportation, oil refining, storage and sale of petroleum products. Olisol is incorporated under thelaws of Cyprus and is headquartered in Almaty, Kazakhstan.DisclaimerSome of the statements in this document are forward-looking. Forward-looking statements include statementsregarding the intent, belief and current expectations of the Company or its officers with respect to the Olisolplacement transaction and related transactions, cost optimisation programme and the outcome of a disputerelating to the debenture issued to AGR. When used in this document, the words "expects," "believes,""anticipates," "plans," "may," "will," "should" and similar expressions, and the negatives thereof, areintended to identify forward-looking statements. Such statements are not promises or guarantees, and aresubject to risks and uncertainties that could cause actual outcomes to differ materially from those suggestedby any suc
Fred Prior
03 Aug 2016
Close the door on the way out Hammond and good luck with your new job at McDonalds, if they will take you that is.I had to laugh at their statement, its almost written like its taking the pishh, "Mr. May will replace Julian Hammond who is leaving Tethys having worked for the Company since 2007 and served as Chief Executive Officer since 2012.In other words, no thank you for your hard work because you did none, no thank you for getting the company where it is today because you did an awful awful job.The leaving statement says it all and I for sure will never invest in any company that is irresponsible enough to employ you in the future.Lets now move onwards and upwards with the great assets we got and forget about the liabilities of the past.
bertie20
14 May 2016
Results May 13, 2016Tethys Petroleum Press Release Friday, May 13, 2016 - 2016 Q1 ResultsGRAND CAYMAN, CAYMAN ISLANDS--(Marketwired - May 13, 2016) - Tethys Petroleum Limited (TSX:TPL)(LSE:TPL) today announced its Results for the quarter ended March 31, 2016.Q1 Financial Highlights (all figures reported in USD unless stated otherwise. 2015 amounts are for the quarter ended March 31, 2015)Oil and gas revenue of USD3.5m (2015: USD6.0m); Production expenses down 54% to USD1.2m (2015: USD2.6m);G&A expenses down 37% to USD1.8m (2015: USD2.8m);Loss of USD5.7m (2015:USD2.1m) due to higher depreciation, depletion and amortization of USD2.2m and higher financing costs of USD1.3m;Capital expenditure was lower due to lack of funding to develop the Company's assets with expenditure in the prior period relating to new gas well tie-ins and Tajikistan exploration;Net debt increased as a result of interim finance obtained as part of larger strategic transactions which did not complete.Bertie.
flipdalid
31 Mar 2016
annual results Press Release: 2015 Annual Results GRAND CAYMAN, CAYMAN ISLANDS March 29, 2016) - Tethys Petroleum Limited (TSX:TPL)(LSE:TPL) today announced its Annual Results for the year ended December 31, 2015. Corporate Highlights (2015)- Extension of the Akkulka Exploration Contract for another four years, from March 10, 2015 to March 10, 2019- Extension of the Kyzyloi Gas Production Contract confirmed for another 15 years, from June 14, 2014 to December 31, 2029- MOU signed with PetroChina regarding future exports of hydrocarbons to China- Doubling of gas production in January 2015 vs. end 2014- Reduction in interests and current funding obligations in Georgia of approximately USD4 million to USD1 million- Completion of six separate loan financings amounting to gross proceeds of USD28.1million, of which USD5million has been repaid- Notice received to withdraw from the Joint Operating Agreement and Shareholders Agreement dated June 18, 2013 in Tajikistan (the "JOA" and the underlying Bokhtar PSC from CNPC Central Asia B.V. ("CNPC" and Total E&P Tajikistan B.V. ("Total". Discussions have been initiated with CNPC and Total and management continue to evaluate options to maximise value for this asset - Extension of the Kul-Bas Exploration and Production Contract (the "Kul- Bas Contract" in Kazakhstan for additional two years up to November 2017 (subject to certain routine project and work programme approvals with amendments to the Kul-Bas Contract)- USD15 million convertible debt facility (the "Interim Facility" entered into with Olisol Investments Limited and its wholly owned subsidiary, Olisol Petroleum Limited ("OPL", together "Oilsol". Corporate Highlights (Q1 2016)- Signed a legally binding amendment (the "Facility Agreement Amendment" to the USD15 million convertible debt facility entered into on November 19, 2015 with Olisol setting out amended terms to the Interim Facility, the Investment Agreement announced on December 8, 2015 and consequential changes to the transaction documentation between the companies- Conversion notice received from Olisol to convert USD6.3million of outstanding debt to TPL shares at USD0.10 per share. USD3.7million already converted with the remainder pending TSX approval- New gas sales contracts signed for 2016 volumes of up to 150 million cubic metres. Financial Highlights (2015)- Administrative and business development expenses reduced by 51% to USD9.5m from USD19.5m- Headcount has been reduced by 24% since Q4 2014 contributing to a staff costs reduction of 50% to USD4.5m from USD8.9m- Office costs reduced by 53% to USD0.9m from USD2.0m- Travel costs reduced by 64% to USD0.8m from USD2.3m- Production expenses reduced by 24% to USD10.2m from USD13.5m- Gas revenue increased by 98% to USD16.2m from USD8.2 following completion of a shallow gas development programme in late 2014 and significantly improved pricing from January 2015, however the increase was more than offset by a reduction in oil revenue to USD5.9m from USD18.9m due to lower production and a more than halving of realised prices- The loss for the year of USD74.6m (2014: USD16.4m) was due to increased Depreciation, Depletion and Amortisation (DD&A) which was USD27.5m higher than the prior year. The Kazakh oil and assets were not depreciated in the prior period whilst held for sale to SinoHan. Due to the inability to fulfil the conditions precedent to this legacy transaction by the extended May 1, 2015 longstop date a catch up DD&A charge for 26 months was required to be made in the current year. In addition, the Tajikistan asset was impaired by USD25.9m reflecting the difficult economic market for frontier territory exploration assets and the devaluation of the Kazakhstan Tenge in Q4 2015 resulted in a deferred tax charge of USD6.4m. All of the aforementioned are non-cash items- EBITDA - adjusted for share-based payments improved to negative USD10.6m from negative USD12.3m, despite signif
