flipdalid
22 Mar 2016
Re: Too cheap -should be 7P oh coldascheese how silly the market is! Or perhaps it's you?
coldascheese
22 Mar 2016
Too cheap -should be 7P Oilsol are paying 10 cents a share which is 7p and share price is 3.5p when will the market wake up ?50% underpriced !
bertie20
21 Mar 2016
RNS One step at a time.Bertie.
bertie20
11 Mar 2016
Re: summut's up! and down again.Bertie.
flipdalid
10 Mar 2016
summut's up! Have Olisol handed over the 50p piece to TPL?Incidentally if you thought this board was quiet then have a look at NOG. I did and posted the other day..first post since July of last year!
bertie20
03 Mar 2016
Re: RNS imminent... March 2, 2016Tethys Petroleum Limited Press Release Wednesday, March 02, 2016 - Olisol Transaction UpdateGRAND CAYMAN, CAYMAN ISLANDS--(Marketwired - March 2, 2016) -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 announces that it has signed a legally binding amendment (the "Facility Agreement Amendment" to the US$15 million convertible debt facility entered into on November 19, 2015 (the "Interim Facility" with Olisol Investments Limited and its wholly owned subsidiary, Olisol Petroleum Limited ("OPL", together "Olisol", setting out amended terms to the Interim Facility and consequential changes to the transaction documentation between the companies.Key Terms of the Facility Agreement AmendmentOlisol to convert all but US$1,000,000 of the outstanding amount of principal and accrued interest under the Interim Facility (approximately US$6.25 million) into ordinary shares ("Interim Facility Conversion".The conversion will take place at a price of USD$0.10 per share and the shares will represent approximately 15.6% of the enlarged undiluted share capital of the Company.This conversion will take place as soon as all approvals are obtained from the Toronto Stock Exchange ("TSX", which will likely include the approval by the TSX of a Personal Information Form ("PIF" to be submitted by, or on behalf of, Olisol.The Facility Amendment Agreement provides that Olisol is to submit the PIF within seven business days and Olisol irrevocably commits to the conversion described above.Olisol will work with a bank in Kazakhstan acceptable to Tethys ("Kazakh Bank" to secure a loan for Tethys Aral Gas LLP, in the amount of US$10,000,000 (the "Kazakh Loan", within 60 days.Principals at one potential Kazakh Bank have already provisionally approved offering the Kazakh Loan, subject to satisfactory due diligence refreshment.The Kazakh Loan, together with the Interim Facility Conversion, would satisfy the outstanding obligations of Olisol under the Interim Facility.Olisol agree to pay any ordinary interest costs on the Kazakh Loan that are greater than 11%.Olisol to provide additional working capital reasonably required by Tethys, if necessary, to ensure the Company is able to continue to operate until completion of a placement under an amended Investment Agreement. Any amounts provided by Olisol will convert to ordinary shares on completion of the placement under the amended Investment Agreement.The Facility Amendment Agreement amends certain terms and definitions of the Interim Facility in order to facilitate and give effect to the Interim Facility Conversion and the other terms of the Facility Amendment Agreement.Olisol has committed to purchasing 181,240,793 new shares at a price to be agreed by Tethys and Olisol (acting reasonably).This purchase will be subject to TSX approval, and would replace the previously announced placing of 150,000,000 shares and the backstopped further offering of 50,000,000 shares under the Investment Agreement announced by the Company on December 8, 2015.This purchase, together with the Interim Facility Conversion of the amounts outstanding under the Interim Facility would result in Olisol owning approximately 42% of the enlarged undiluted share capital of the Company.The shareholder approval for this placing will include an approval to reduce the par value of the shares of Tethys.The 20 largest shareholders will be offered a ri
flipdalid
02 Mar 2016
RNS imminent... before tomorrow's 8am opening.
flipdalid
23 Feb 2016
The bell has tolled... Will you guys stop your 'if they're buying some shares at 7p, then the sp is bound to leap up to 7p' nonsense. From yesterday's RNS: 'Olisol has committed to purchasing 181,240,793 new shares AT A PRICE TO BE NEGOTIATED' (my capitals).What will this price be and how dilutive will the placing be? I've taken my profit and will follow with interest for now. Where do you think Abramov's (soon to be the new boss) loyalties will lie? With Tethys shareholders?
flipdalid
23 Feb 2016
taxi for Mr Bell.... Nice one Olisol! They're saying that as soon as a deal is concluded it's 'on yer bike' for Mr Bell . Wherever he goes next, don't risk your hard-earned with him. He's a serial 'value-destroyer'.
bertie20
22 Feb 2016
RNS I make that 7.1p to start with[link]
suka47
22 Feb 2016
RNS - Funding Up 62% Happy Days
flipdalid
08 Feb 2016
impressive stuff... bargain basement stuff this...after a couple of weeks we've found $1m..hold on a while longer and we might even find another $1m for you.buying the launderette and fish'n'chip shop in South Shields is more 'high finance' than this!
bertie20
08 Feb 2016
Re: RNS the positive bit for balance Bertie 22Jan"The Company has been engaging in discussions with other parties and is now in active negotiations."8 Feb'There is no guarantee that the Olisol transactions can be completed or that Tethys will be able to secure any alternative financing'.Downbeat RNS, but Olisoil seem happy to lob the odd million our way.Bertie.
flipdalid
08 Feb 2016
no hope of a buyer remains.. 23 Jan'There is no certainty that the management will be successful nor have sufficient time TO IMPLEMENT ANY ALTERNATIVE TRANSACTION' (my capitals).8 Feb'There is no guarantee that the Olisol transactions can be completed or that Tethys will be able to secure any alternative financing'.they've dropped the bit that I hoped meant 'find a buyer for this company'. Bell may blame Olisol, but I blame Bell for this fiasco.
flipdalid
04 Feb 2016
the joy of roy.. from advfn..rather old now (6th Jan) but an interesting take. We have not seen much evidence so far of Olisol's 'local expertise', apart from a bit of debt collecting!roy_tehrs Stockholm 6 Jan 2016 Tethys Petroleum Ltd, the central Asia focussed gas and oil exploration company, had a busy 2015. Seemingly in demand, with takeover approaches from Nostrum Oil & Gas, AGR Energy and Olisol Petroleum, Tethys looked set to be taken over by a company better placed to develop the licenses and exploration areas which Tethys had but lacked the financial muscle to develop. Yet somehow Tethys’ management managed to spurn all its suitors and exit 2015 leaving its shareholders bemused by their company’s inability to conclude a deal and by the rapid decline in the company’s market capitalisation to a paltry $10m or so. Olisol remain interested, but seemingly not in acquiring all of Tethys’ issued share capital even for a chicken-feed price. Their proposed financing package suggests that they place significant value in retaining Tethys’ London-listing, both for the future access to capital and for the reassurance to third-parties that the listing provides. Tethys’ business looks dependent upon selling increased volumes of gas to China. It looks likely that Olisol have the local expertise, that Tethys so clearly lack, to push the financing deal through. If so the ensuing partnership could re-ignite Tethys’ ambitions in the region and lead to a significant re-rating of the company’s value.
