think very carefully before you invest in this part of the world. They seem to come to the West for money to develop world class assets and then..........the money disappears............like magic..........There is no business case when you can only get 7 bucks per barrel for oil and that is from Kaz gov who do not allow it to be sold to anyone else. Of course that is all just my opinion.......DYOR.
Tethys Petroleum said its Q1 oil and gas revenue was USD3.5m, from USD6.0m. It posted a Q1 loss of USD5.7m, from USD2.1m, due to higher depreciation, depletion and amortization of USD2.2m and higher financing costs of USD1.3m. OTHER HIGHLIGHTS: - Production expenses down 54% to USD1.2m (2015: USD2.6m); -- G&A expenses down 37% to USD1.8m (2015: USD2.8m) - Capital expenditure was lower due to lack of funding to develop the Company's assets with expenditure in the prior period relating to new… Read More
Perhaps the gas is in focus, not oil till back end of next year. Additional its 11% on $1mln with 6 month grace period. I could go on but I thinks we should not paint pictures without correct information.
The oil market is in the stages of cost reduction and simplification and will take time.
Looking at the gas program briefly it takes approximately 24 days to drill and test with upto 10days to complete.
Expected to drill more wells subject to seismic. Could amount to nothing, even… Read More
Leagally binding agreement with Olisol that requires Cayman Island approval............how does that work? $10m loans From Kaz bank at 11%. Thats an easy $1.1 interest for Kaz. Does not mention the dirt cheap price Kaz gov pays TPL for Doris oil ............last time we were told it was about $20 / barrel, no profit for TPL there then. No plan mentioned for more oil prod, no plan for oil export licence, No mention of Georgia assets, the jewel in the Crown is now in dispute!! This lot are… Read More
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