flipdalid
29 Dec 2015
Worth a punt? unable to resist a smallish go at 2.65p.hardly made anything last time, so fingers crossed this time. not a share to over-commit to.Bell & co have been patently out of their depth for many months now. Luckily for them Olisol value the London listing, which means they keep their jobs for a few months yet (though not their reputations).
flipdalid
29 Dec 2015
Bell sounds a bit desparate... December 29, 2015Tethys Petroleum Limited Press Release: Kul-Bas Contract Extended 2 Years/Corporate UpdateGRAND CAYMAN, CAYMAN ISLANDS--(Marketwired - Dec. 29, 2015) - NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO US NEWSWIRE SERVICES OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF THE SECURITIES LAWS OF SUCH JURISDICTIONS. THE OFFERS AND SALES OF SECURITIES REFERRED TO BELOW HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT OF 1933 AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION UNDER THE SECURITIES ACT OR AN EXEMPTION FROM SUCH REGISTRATION. Tethys Petroleum Limited ("Tethys" or the "Company"
(TSX:TPL)(LSE:TPL) today announced it has been granted a 2-year extension to the Kul-Bas Exploration and Production Contract (the "Contract" in Kazakhstan and also provided an update on the previously announced US$15 million convertible facility and C$25.5 million private placement with Olisol Investments Limited ("Olisol". Kul-Bas Exploration and Production Contract 2-year ExtensionTethys is pleased to announce that the Ministry of the Republic of Kazakhstan ("MOE" has agreed to extend the Appraisal Period for the Contract by a further two years until November 11, 2017.The Kul-Bas contract area (which currently covers an area of 7,632 km2 (1.9 million acres)) surrounds the Akkulka contract area which contains the Company's producing oil and gas fields. This extension gives Tethys further time to explore and appraise this attractive area which has several prospects and leads and with a proved commercial oil and gas system in the Akkulka block. Within this contract area is the Klymene exploration prospect. This extension is subject to the approval of an appraisal extension project and work programme and subsequent registration of a suitable addition to the Contract.Interim FacilityA US$15 million convertible facility ("Interim Facility" was entered into with Olisol on November 19, 2015. The Company submitted draw down notices for the entire loan amount on November 21, 2015 but to date has only received US$5,138,918. Olisol has provided confirmation that these funds are available and the reason for non-payment to date has been due to USD transfer restrictions imposed by the bank authorities of Kazakhstan ("Currency Controls".Olisol has confirmed that it will now pay the balance of the loan to Tethys, using funds that will not be restricted by Currency Controls, in the near future.Private Placement On December 8, 2015 Tethys also announced it had entered into a binding investment agreement (the "Investment Agreement" with Olisol setting out the terms and conditions upon which Olisol Petroleum Limited, a wholly-owned subsidiary of Olisol ("OPL", has agreed to purchase 150 million new ordinary shares at a price of C$0.17 per ordinary share for total proceeds of C$25.5 million by way of a private placement (the "Placing" and to commit to backstop a further equity fundraising of 50 million shares at C$0.17 per share (the "Further Financing" to ensure that a minimum of C$8.5 million is raised. The Interim Facility, Placing and Further Financing together form the "Transaction".On closing of the Placing, the outstanding principal and accrued, but unpaid interest under the US$15 million Interim Facility will be automatically converted into ordinary shares at a conversion price of C$0.17 per share.Prior to entering into the Investment Agreement, Olisol advised Tethys that it had access to a US$51 million credit facility from a leading Kazakh bank (all of which is undrawn) in support of the Transaction, and Olisol has since then again confirmed access to such credit facility. As stated in the press release of December 8th, 2015 certain supporting information has been provided by Olisol and further
3Dimensional
16 Dec 2015
5% down on 14,000 shares traded this just goes to show how corrupt and rigged the markets really are, a recent placing at 8.5p and yet TPL trading more than 50% below that price.I really hope that the bucket shops lose all their clients and that we go back to the old fashioned paper shares, as it is clearly the bucket shops and the leverage associated with spread betting that is causing these share price behaviours.It is one of the many companies on AIM that typically goes down on good news, the average pi doesn't stand a chance in heel of ever making money by going long on a stock via a spread bet.May I suggest you stop giving your money to these bucket shops and IMHO and from what I hear, IG Index are one of the worst, as they are also market makers, yes that's right, they make the prices of the markets that you place your trades with. All I ever hear about them is as soon as people open a position with them, they are in a minus with that position the very next day and then the stock just keeps going down and down and down, positive news does not even move the stocks that the pi are in, they only move the stocks that the pi are not involved in. Sad but true.Ban the bucket shops like the US did, perhaps a petition sent to parliament may be the first step....3D (will wait 1 year before selling TPL if I have to)
3Dimensional
09 Dec 2015
Bucket Shop Manipulation this stock should be trading a premium to the recent placing price, not 40% below it. At least this way private investors can see the manipulation of how these companies, especially the ones that are also market makers rig and fix the prices so the average pi will never make a profit, it is disgraceful and all the bucket shops should be banned.Once the news that the licence is safe, it will need to be re rated, this is a oil and gas explorer and producer and is receiving revenue from both, Oilisol did not chuch money at this willy nilly, they know whay they did it, as did Pope.I will hold until spring next year when these will be in double digits and the bucket shops will be able to do nowt about it.3D
Gunnersyeo
09 Dec 2015
TSX up 23.53% at the close.
Gunnersyeo
08 Dec 2015
17c is 8p Right? 8p it is then.
flipdalid
07 Dec 2015
6.59am tues is when the latest extension period runs out. Bell and his chums seem clueless in dealmakingso I suppose YET ANOTHER extension is the betting choice. Let's hope OLISOL push them over the line..Bell as always will just want to look after his job/salary/pension,
3Dimensional
04 Dec 2015
JP Morgan added [link] (19p PT)
barno99
02 Dec 2015
Also... This is the lowest the share price has been in 5 years...With another $25 million finance coming in shortly this is a very undervalued company, but DYOR etcetc blah blah blah ..of course...
barno99
02 Dec 2015
Looking foward,looking good.. Olisol have put a very large amount of cash on the table for dilution of course but thats confidence on a massive scale..With debt wiped out and finance coming in from olisol the future looks very Rosy.Couple that with the brutal closures and cost cutting exercises and I feel very confident as Tethys is only valued at £16 million at current levels and has strong revenue streams.-- Current November production averages 4,266 BOE/day, comprising 1,771 bopd of oil and 2,495 boepd gas (c. 423.9 Mcm/d or 14.97 MMcf/d), the gas rates in part affected by higher Winter season delivery pressures in the Bukhara-Urals pipeline.Thats not all the story of course its a long road ahead but a good one..[link]
3Dimensional
24 Nov 2015
Re: Marketwire Announce.... I like para 5---------- ---------- ---------- ---Yes Gunners, it is very comforting to know that we now have a major shareholder with a vested 20% interest on the board, an acquaintance of mine knows William quite well and make no bones about the fact this ship will be kept straight as long as he has anything to do with it. I guess my wish of Bell and Hammond getting the boot has kind of surfaced, as there will be no more people falling asleep at the wheel allowed.Great news.3D
Gunnersyeo
24 Nov 2015
Marketwire Announce.... Tethys Petroleum Limited: Extension of Exclusiv... www.investegate.co.uk/article.aspx?id=20151124065939M1402&fe=1 I like para 5...A condition to the first draw down under the Interim Financing Facility is that Mr Alexander Abramov, adesignee of Olisol, and Mr William Wells of Pope Asset Management, LLC, a 19.1% shareholder of the Company, beappointed to the Board of Directors of Tethys (the "Board". Both individuals have now been appointed to theBoard.
Gunnersyeo
19 Nov 2015
Just in Case You Missed This (no comments today) [link] SearchPriceAnnouncementsFundamentalsNewsArticleRSSTethys Petroleum Ltd (TPL)Add to Alerts list Print Mail a friendThursday 19 November, 2015Tethys Petroleum LtdTethys Petroleum Limited Press Release: US$15 M...FOR: TETHYS PETROLEUM LIMITEDTSX, LSE SYMBOL: TPLNovember 19, 2015Tethys Petroleum Limited Press Release: US$15 Million Interim Financing Facility Entered Into With Olisol Petroleum LimitedGRAND CAYMAN, CAYMAN ISLANDS--(Marketwired - Nov. 19, 2015) - NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO US NEWSWIRE SERVICES OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF THE SECURITIES LAWS OF SUCH JURISDICTIONS. THE OFFERS AND SALES OF SECURITIES REFERRED TO BELOW HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT OF 1933 AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION UNDER THE SECURITIES ACT OR AN EXEMPTION FROM SUCH REGISTRATION.Tethys Petroleum Limited (TSX:TPL)(LSE:TPL) ("Tethys" or the "Company" announces that, further to the letter of intent announced on November 9th, 2015 (the "LOI", the Company has entered into an interim convertible financing facility of up to US$15 million (the "Interim Financing Facility" with Olisol Petroleum Limited ("OPL", a wholly owned subsidiary of Olisol Investments Limited ("Olisol". The Interim Financing Facility is convertible into Tethys ordinary shares at C$0.17 per share.OPL will advance to Tethys up to US$15 million to be used to repay the US$5 million term loan from Nostrum Oil & Gas PLC and potentially the US$7.5 million convertible debenture from AGR Energy Limited No. 1 (the "AGR Debenture", in each case plus any other amounts arising thereunder. In the event that AGR Energy exercises its conversion rights under the AGR Debenture prior to redemption, the Interim Financing Facility will be reduced by US$7.5 million, with the Placing (as defined below), at the option of OPL, being increased by US$7.5 million in exchange for 75 million further shares. The balance of the Interim Financing Facility will be used for general and working capital requirements of the Company and will be available thirty days after first draw down or, where requested by Tethys, such earlier date as the parties may agree. The Interim Financing Facility has a maturity date of 31 August 2016. Subject to approval of the Toronto Stock Exchange and compliance with other regulatory requirements including listing on the KASE and National Bank of Kazakhstan approvals, the outstanding principal and interest under the Interim Financing Facility shall be convertible into ordinary shares at C$0.17 per share.A condition to the first draw down under the Interim Financing Facility is that Mr Alexander Abramov, a designee of Olisol, and Mr William Wells, of Pope Asset Management, LLC, a 19.1% shareholder of the Company, be appointed to the Board of Directors of Tethys (the "Board". The Interim Financing Facility is the first step in the potential broader transaction provided for under the LOI, where OPL will subscribe to a C$25.5 million private placement of 150 million new ordinary shares at a price of C$0.17 per ordinary share (the "Placing" and commit to backstop a further equity fundraising of 50 million shares at C$0.17 per share (the "Further Financing", together the "Transaction". OPL and the Company are in advanced negotiations over binding transaction documentation. In the event the Placing is not completed, Mr Abramov will resign once the Int
3Dimensional
17 Nov 2015
Re: Nostrum 333p Sorry, I was being too generous with my previous heading, their SP is 333p not 433p 333p and they wanted us to buy in to them @ 501p 3D
3Dimensional
17 Nov 2015
Nostrum 433p So sooo glad we never dealt with them. IMHO their share price was manipulated up to 565p while the talks were ongoing in order to make the deal look good for Tethys, thank the Lord it never happened!!Up yours Nostrum, if you hadn't have been so greedy and coughed up the 10.5p your companys SP may not have been looking so dismal now eh I love it when a plan comes together..........Murdoch!!3D
