3Dimensional
19 Oct 2015
Could Nostrum be on the cusp of making another offer more inline with their original offer..........Please DYOR.3D
3Dimensional
14 Oct 2015
Re: inquest time.. wouldn't right it off just yet pal, it aint over quite yet............... Totally agree with your sentiments regarding Bell.end and Co, they couldn't run a corner shop let alone an oil E&P Co!!!Hopefully once we are out of this quagmire they can all be replaced, as I am sure Pope will have something to say on their recent shenanigans.The thing is we have some superb assets here just got an incompetent bunch of to55 ers running the show, or trying to run the show.Let us hope for a positive outcome shortly.FWIW I purchased another 500k today so my avg is around the 4p mark, I expect to earn at least 150% return shortly.Good luck.3D
flipdalid
14 Oct 2015
Full house for Tethys It's the morning management meeting at Tethys:'Good morning everyone, I think we should congratulate ourselves on a very good few days' work. But before I do that, can I just check: Are we quite certain we haven't missed anyone off our list of companies and people to p*ss off?''No, I think we've covered everyone now'.
flipdalid
14 Oct 2015
inquest time.. With an average of 4.78p I am, like most others, underwater here. For me its time to effectively write this off and forget about it, in the hope that in a few months time I might just be able to get back my investment. On reflection my only mistake was to spectacularly underestimate the shortcomings in competence and integrity of Bell & co. IMHO keep well clear of this man in any of his future business ventures.
flipdalid
14 Oct 2015
Re: no takeover here, folks! What a limp end to an exciting few weeks. All these companies with deeper pockets keen to takeover and develop Tethys' business, and the directors can only think about running the company into the ground just so they can get a few extra months employment and financial gain.
flipdalid
14 Oct 2015
no takeover here, folks! 'Tethys continues to work with interested parties to conclude a financing transaction as soon as possible and anticipates providing an update on this shortly'...code words for..'We, the directors, have turned down every approach to our company, because holding onto our jobs and benefit packages is far more important that shareholder value'. In other words they are purely looking out for themselves.
flipdalid
14 Oct 2015
ANOTHER dispute? October 13, 2015Tethys Petroleum Limited Press Release: Nostrum Loan UpdateGRAND CAYMAN, CAYMAN ISLANDS--(Marketwired - Oct. 13, 2015) - Tethys Petroleum Limited ("Tethys" or the "Company"
(TSX:TPL)(LSE:TPL) announces that it has today received a Notice of Events of Default from Nostrum Oil & Gas PLC ("Nostrum" in connection with the US$5 million facility agreement between Tethys and Nostrum,dated August 10, 2015 (the "Facility Agreement". Tethys does not agree with Nostrum's interpretation of the Facility Agreement that an event of default has occurred, has submitted a rebuttal of the notification received and has reserved all its rights.Nostrum has indicated that its interpretation is due to the announcement on October 12, 2015 that Tethys had received a notice from CNPC Central Asia B.V. and Total E&P Tajikistan B.V. requiring that Tethys' subsidiary,Kulob Petroleum Limited withdraw from the Joint Operating Agreement in Tajikistan and the underlying PSC.Tethys continues to work with interested parties to conclude a financing transaction as soon as possible and anticipates providing an update on this shortly.
Elinesterado
13 Oct 2015
Re: tethys response to Olisol What a tremendous amount of words to say that there is no clarity or certainty whatsoever.Do they imagine that such lengthy spiel makes them appear as though they are in full control of the situation and there is no need to be concerned?Living on hope here, very concerning for us PIs
flipdalid
12 Oct 2015
Olisol offer under consideration... 'Tethys continues to work with Olisol and other Interested Parties to conclude a transaction as soon as possible'...It looks to me like Tethys' appeal as a takeover target is much diminished due to their failure to conclude matters prior to 9th October. I am dubious that they were in the position of strength that they thought they were in to be able to turn down Olisol's offer on Friday.However we will see in the next few days. But the current directors' failure to make the payment due on Friday makes their ongoing employment untenable should a deal to sell the company not be concluded this week.
flipdalid
12 Oct 2015
tethys response to Olisol GRAND CAYMAN, CAYMAN ISLANDS--(Marketwired - Oct. 12, 2015) - Tethys Petroleum Limited ("Tethys" or the "Company" (TSX:TPL) (LSE:TPL) acknowledges the public announcement by Olisol Investment Group ("Olisol" on October 9, 2015 regarding a non-binding proposal submitted to the Company along with suggestions that Tethys has not engaged with Olisol or considered Olisol's proposal. The Tethys Board disagrees with much of the content in the Olisol release and Tethys has requested that Olisol publically corrects the statements made.The Tethys Board would like to inform shareholders that the Company has been engaging extensively with all parties which have submitted proposals to Tethys ("Interested Parties", including Olisol, since the exclusivity period with Nostrum Oil & Gas PLC ended at 11.59pm on October 6, 2015 ("Nostrum Exclusivity Period". These proposals are being actively considered by the Tethys Board to determine which proposal is in the best interest of all Tethys stakeholders. Since the end of the Nostrum Exclusivity Period, the Company has been fully focused on trying to conclude a transaction with Interested Parties as quickly as possible. This has included extensive correspondence, discussions and negotiations over this period. At this stage, there remains significant uncertainty with respect to these proposals and all remain non-binding and are subject to a number of conditions. The Company has taken the prudent and necessary steps to clarify these uncertainties and conditions, such as proof of funding, to ensure all proposals can be appropriately assessed and to determine which may be in the best interest of all Tethys stakeholders. Tethys also notes Olisol's proposal for an immediate investment of US$1.28 million upon the execution of a letter of intent relating to its proposal to potentially allow Tethys to remedy an outstanding default on its Tajikistan license. This non-definitive proposal from Olisol was received too late to clarify, negotiate and enter into binding agreements in time and the Company could not remedy the default payment by the due date of October 9, 2015 based on a non-binding, non-clarified proposal. Furthermore, the proposed immediate investment would not provide sufficient funds to fully remedy the current default payments on its Tajikistan license in the near term, nor would it provide funding certainty for further payments going forward which could total US$12-US$15 million over the next 6 months. Further, accepting the terms upon which the immediate investment had been proposed from Olisol could have prejudiced other Interested Parties and their potential alternative proposals.Tethys did however propose to Olisol to make the Tajikistan payment directly on Thursday, October 8, 2015, which Olisol declined to do. Tethys continues to work with Olisol and other Interested Parties to conclude a transaction as soon as possible. All parties have been asked to submit in short order any final revisions to their offers in order to have final proposals for evaluation by the Tethys Board. There can be no certainty that any proposal will result in a transaction, nor as to the terms on which any such transaction resulting from a proposal may be finalised.
bertie20
12 Oct 2015
Re: All shareholders email TPL today Tethys disagree.[link]
3Dimensional
12 Oct 2015
All shareholders email TPL today Why the Tethys board has elected to not engage with us is a mystery. Our offer will provide for a period of stability to allow Tethys to undertake a thoughtful review of its strategy, assets and capital commitments so as to be able to create a plan that will provide for the long term viability of the company and a maximization of shareholder value. Tethys's shareholders should be asking their board why our offer does not merit consideration."---------- ---------- ---------- ---------- ---This is an extract from Olisols latest proposal, I believe the BoD are up to some underhanded tricks, but I guarantee they will not escape the wrath of the law if this is the case.It stinks to high heaven and Olisol are bending over backwards to save us.3D
3Dimensional
12 Oct 2015
John Bell and Julian Hammond will feel the raff of the law over this, if they do not immediately enter into dialogue with Olisols offer, at the moment their lack of response stinks of insider corruption going on to sell off the assets on the cheap to Nostrum whilst still hanging on to power. Hopefully Pope asset will have something to say if they do not enter into dialogue with Olisol.A few fellow investor friends have been ringing Tethys on a daily basis for the last 2 weeks demanding Julian Hammond return their calls, thus far he has not. It was pointed out to another member of Tethys management that they have a duty of care to shareholders and they are showing none. I think I will inform the SFO tomorrow that I believe something underhanded is going on at Tethys, of course if there is an RNS in the morning saying they have entered talks with Olisol then I will avoid doing that.Here's hoping to a 7am RNS and at least an 8p SP upon open!3D
flipdalid
10 Oct 2015
letter to Tethys LETTER BELOW EMAILED TO TETHYS TODAY. I WILL POST ANY REPLY RECEIVED.Dear Sir/MadamI am a shareholder in Tethys Petroleum, and am concerned that we have not made the payment for the September cash call issued by the Bokhtar Operating Company in connection with Tethys' interest in the Bokhtar PSC in Tajikistan.I am aware of yesterday's improved offer from Olisol that included an immediate investment of US $1.28 million upon the execution of a letter of intent relating to the Offer to allow Tethys to remedy an outstanding default on its Tajikstan license.As a matter of urgency, I wish the company to enter into a dialogue with Olisol concerning yesterday's improved offer. If this is not the intention of the company, I feel it is imperative that shareholders are informed of the reasons for not doing so.I await your earliest response.Yours faithfullyXXXXX
flipdalid
10 Oct 2015
Olisol improve offer to 9p Olisol Investment Group ("Olisol" announces that on October 9, 2015, it submitted an amendment to its non-binding proposal (the "Offer" to Tethys Petroleum Limited ("Tethys", originally announced on October 3, 2015 (Hong Kong time), in order to ensure the superiority of the Offer to any other bids. The amendments to the Offer include: -- an increase in the price per common share of Tethys (each, a "Share" from CDN $0.16 to CDN $0.17; -- an immediate investment of US $1.28 million upon the execution of a letter of intent relating to the Offer to allow Tethys to remedy an outstanding default on its Tajikstan license; and -- the assumption of other debts of Tethys. The foregoing amendments were made in an effort to stabilize Tethys's current financial situation and maintain the company's asset base. Other than the amendments set forth above, the terms of the Offer as disclosed in Olisol's press release dated October 3, 2015 (Hong Kong time) remain unchanged, but for an increase in all monetary amounts given the increase of the price per Share to CDN $0.17, as set forth above.Olisol has been focusing all efforts and expending considerable resources to satisfy various procedural requirements imposed by Tethys and its advisors in connection with the Offer, including responding to very broad information requests covering over 25 different issues - all of which were responded to in a timely and fulsome manner. Olisol has consistently demonstrated its ability and desire to move to a definitive agreement in short order and that it has sufficient financial resources to fund the Offer and to provide broader financial support to Tethys. "We believe that our amended offer is far superior to offers announced recently by other interested parties," said Alexander Skripka, a director of Olisol. "In addition, we have offered immediate financial assistance, which we are willing to advance even before we enter into a definitive agreement. We want to help Tethys avoid a default under its Tajikistan license and to alleviate the financial distress it is presently experiencing. We have navigated the numerous procedural hurdles that have been imposed by Tethys and we have continuously demonstrated our ability to move quickly. WHY THE TETHYS BOARD HAS ELECTED TO NOT ENGAGE WITH US IS A MYSTERY (my capitals). Our offer will provide for a period of stability to allow Tethys to undertake a thoughtful review of its strategy, assets and capital commitments so as to be able to create a plan that will provide for the long term viability of the company and a maximization of shareholder value. TETHYS 'S SHAREHOLDERS SHOULD BE ASKING THEIR BOARD WHY OUR OFFER DOES NOT MERIT CONSIDERATION (my capitals)"
