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Kazakhstan Ministry of Energy Approval Olisol is pleased to announce that the Minister of Energy of the Government of Kazakhstan has provided his approval to extend the time for completion of the Transaction. Olisol presently expects that the Private Placement will be completed at the end of October. Olisol is currently working with Tethys' management to identify ways to increase gas production from Olisol's Kazakhstan production properties. Sounds like there may be other interested parties sniffing around.
Strong Buy.....?? This is positive news, but it's from Olisol, not Tethys, which indicates there is indeed an issue, so you would indeed need to be "Insane" to buy without understanding the full ramifications. There is an implicit message in it that there will be no more money & they expect to crystallise at circa 37% ownership, or am I missing something? To me it reinforces my feeling it is becoming a zombie company which is increasingly dysfunctional.
That is a good trade. Low entry price too.
Well, I mean a directionless company, so far they have invested a lot of money (of course we do not know whose money it is, they are by no means major figures in Kazakhstan's oil sector), but the share price has tanked and performance, at best, remained static. So to my mind its a zombie, alive after a fashion but doing nothing. From the outside that would seem to be the case now, or am I missing something?
Not sure what you mean by zombie company. I do know that the Olisol investors are very knowledgeable about the energy industry in Kazakhstan and very wealthy from it. I can't believe they would pour massive millions into Tethys and then let it become a zombie.
If Oilisol complete, and I guess its a big "if", will it become a "zombie" company? - any thoughts ? Does anyone know, roughly, who is the biggest shareholder currently? It must now be quite close between Pope/Olisol? So how aligned are they, what with delays in completing etc., anyone nervous over three person board?
[quote]You said non-productive. Big difference between that and non-producing. [/quote] How can you say that there is a big difference unless you do not understand what you are talking about. I would have been better stating non[producing rather than non=productive. At the end of the day it is still basically the same thing so where is the big difference? Fact is the Georgia licenses XIA, M and N do not produce anything. They are non-productive. They are unlikely to be producing in the near future either as it would be necessary to first complete 3D seismic over any structures identified in previous 2D seismic prior to any drilling. Is it necessary to complete further 2D seismic? Nothing could be done before next Georgian summer in any event so there would be time delays. Cost of 3D and a drill in Georgia? Not much change out of $10m. Do you still tell me that there is a "big difference" between non-productive and non-producing?
Provides info to the Georgia question: Both Tethys and its partner are trying to sell/farm out that asset. As ex-CEO Robson now heads another company looking to buy assets in Georgia and Tajikistan, perhaps there is hope that a deal can be done. The Tajikistan asset is big but there have been articles totally outside of the arbitration mess that suggest all parties (including Total, etc) want to pull out of the project, as the govt is now taking too much for it to be profitable. As for the Kazakhstan assets, Olisol mgmt has seemed to convince Pope and current Tethys mgmt that they have the abilities to renegotiate and get better contracts for the Kazakhstan assets based on all their prior experience. IMO this can be a very undervalued stock on Kaz assets alone if and perhaps only if they get new contracts, etc. Anyway, check out the content on the new website if you have not done already.
If you look at the cumulative losses they are all non productive. Non producing, Georgia - Nope , Tajikistan - huge potential (if you have money, if you don't have any net income then clearly the original farm out to Total/CNPC was badly structured). Kazakh assets, its all about gas/oil price, so far there has been no serious moves to get export pricing for oil (I guess no money), gas price, it's obscure, there's only one buyer, so why pay a marketing agent? (murky/obscure). Assets have potential, it remains to be seen if management have.
You said non-productive. Big difference between that and non-producing.
[quote]erazzel: Not sure your statement works! [/quote] What, that anyone might have any thoughts on the matter, or that I should have written non-producing assets?
Not sure your statement works!
Anyone got any thoughts on non-productive assets such as Georgia?
Q3 profits? You're 'avin a laff. They ran out of money and couldn't borrow any more. That's why they're under the cosh. Sure they've got oil, but they're screwed. Bit like Venezula really.
Private indeed!
They had a massive find. Too bad they are private.
Nothing. Just thought it was a bit dead here thats all. sorry
What has Caelus Energy to do with tpl?
Caelus Energy
Might be one for the future wink wink nuge nudge
Previous directors and coupled with energy prices and production not being cost effective. Couple that with weak PR campaigns and you have today's entrance price of sub 2p.
Do any of the long term investors here know why the share price has fallen so much over the past 5 years? The price was over 60p in 2011. Surely oil prices haven't fallen that much.
Needs better communication from company to investors. Almost questionable to stay so shallow
Tethys Petroleum gets a new CEO: http://www.epmag.com/move-1364621 Yesterday it was one of the most actively traded stocks on the TSX:: http://www.680news.com/2016/10/03/most-actively-traded-companies-on-the-tsx-161/