Marth, more good news! At least the salary for the top man is 'only' £250k, a lot less than our ousted one! Options set at 15p so a bit of incentive for them. Still lots of news flow to come, sinohan, re - entry of a AK05 in q1 & hopefully another increase in gas production volume. If the oil price doesn't drop too much then all looking good.
Incentive plan announced
https://uk.finance.yahoo.com/news/tethys-petroleum-limited-issuance-shares-190743557.html Another duck lines up...
Even more ducks lined up. The new BOD are performing well, the government have managed to find time to agree the license extensions, they must be considering the farm out as well. Is the market waiting for the sinohan deal to complete before recognising the recent value added to the company. It's good to see the production area increasing & including more wells. I think we can all sleep well knowing the BOD are going to spend the loan wisely & add value to the company, despite the level of dilution if that's the way the loan is paid off. If the farm out goes through there will be plenty of money to pay the loan back.
Are doing all the Right things. Only a matter of time before our investment returns to growth atb
It's all falling into place nicely, had my reservations about the new board when they took over but gotta say I've been mighty impressed so far with their achievements
RE: RE: Sinohan
Struggle with cash? I wouldn't think that that would be the case. $4mil from today's news. $6 million from recent financing. $8mil in 'cost saving' measures, along with 'additional' cost-saving measures to be implemented. Up until Dec 31, not affected by lower oil price. Substantially more in gas revenue projected for 2015.... Granted, Tethys wouldn't be swimming in a money bin like Scrooge McDuck, but they'd be able to keep their heads above water until oil price recovery is realized. At the same time not diluting their main asset. Though, as you had mentioned, it's just a matter of time before the deal is finalised and announced. Just my 2 Canadian cents worth. [notwithstanding that the Loonie is at multi-year lows]
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