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Proactive Investors mentioned the RNS and increase in share price this morning. http://www.proactiveinvestors.co.uk/companies/news/166830/tethys-petroleum-soars-as-asset-seizure-order-lifted-166830.html Tethys will also be announcing their Q3 profits on November 11th which could give things another boost.
Thanks.
The deal was called of in May 2015. It got shot down by the Kazi government.
Little kick. Might get it working again.
Regulatory News Tethys Petroleum Press Release: Kazakhstan Legal Proceedings Mon, 3rd Oct 2016 07:02 FOR: TETHYS PETROLEUM LIMITED TSX, LSE SYMBOL: TPL October 1, 2016 Tethys Petroleum Press Release: Kazakhstan Legal Proceedings GRAND CAYMAN, CAYMAN ISLANDS--(Marketwired - Sept. 30, 2016) - Tethys Petroleum Limited (TSX:TPL)(LSE:TPL) ("Tethys" or the "Company") today announces that the Almaty City Court's Board of Appeals has found in favour of Tethys by dismissing the previously announced appeal of the claimant and upholding the earlier Court decision on August 24, 2016 to lift the seizure order over the Company's assets. The Court's decision is effective immediately, there is no right of further appeal and restrictions over the operation of the Company's bank accounts in Kazakhstan have been lifted. About Tethys Tethys is focused on oil and gas exploration and production activities in Central Asia and the Caspian Region. This highly prolific oil and gas area is rapidly developing and Tethys believes that significant potential exists in both exploration and in discovered deposits. Disclaimer Some of the statements in this document are forward-looking. Forward-looking statements include statements regarding the intent, belief and current expectations of the Company or its officers with respect to the potential that exists in both exploration and in discovered deposits in Central Asia and the Caspian Region. When used in this document, the words "expects," "believes," "anticipates," "plans," "may," "will," "should" and similar expressions, and the negatives thereof, are intended to identify forward-looking statements. Such statements are not promises or guarantees, and are subject to risks and uncertainties that could cause actual outcomes to differ materially from those suggested by any such statements including risks and uncertainties with respect to the potential that exists in both exploration and in discovered deposits in Central Asia and the Caspian Region. No part of this announcement constitutes, or shall be taken to constitute, an invitation or inducement to invest in the Company or any other entity, and shareholders of the Company are cautioned not to place undue reliance on the forward-looking statements. Save as required by the Listing Rules and applicable law, the Company does not undertake to update or change any forward-looking statements to reflect events occurring after the date of this announcement. FOR FURTHER INFORMATION PLEASE CONTACT: Tethys Petroleum info@tethyspetroleum.com www.tethyspetroleum.com Contact Information: Tethys Petroleum Limited � 2016 Nasdaq, Inc. All rights reserved. Related Shares: Tethys Petroleum Ltd (TPL) Back to Regulatory News
Lots of good things happening now. Here's a few snippets from the website: "The Gustavson report estimates gross Unrisked Mean Prospective Recoverable Oil Resources for the Klymene prospect totaling some 422 million barrels of oil." "Oil quality is very good in both zones, with the lower zone having 46 degree API low sulphur crude and the upper zone 37 degree API low sulphur crude. The combined flow rate of these two tests in this well was over 8,200 barrels of fluid per day." "The Kyzloi and Akkulka development is one of the first dry gas developments carried out in Kazakhstan with one of the first tie-ins by a non-State company to a major gas trunkline in Central Asia." "The gas supply contract has been signed between TethysAralGas LLP and KazTransGas JSC ("KTG"), for the Kyzyloi and Akkulka natural gas fields. KTG is the national State appointed gas operator under Kazakhstan gas law and any domestic sales of gas are effectively made through this state body. TAG will have the ability to export gas to China and other export markets once this option becomes available." "TethysAralGaz LLP ("TAG"), received permission from the Ministry of Energy of the Republic of Kazakhstan to extend the Kyzyloi Gas Production Contract (the "Contract") for another 15 years, from June 14, 2014 to December 31, 2029."
Looks great after press release.we expecting something very positive soon.))))
You seem very short in dismissing this??!! Maybe worth a rethink imo
No that's from 2013
When was the initial court claim made? What was the current share price then and authorised shares traceable? What was the value of assets restricted? Was is the amount in the kaz bank that was restricted? What will the revised market cap be? What impact is the case going to have in relation to TOTAL and other party? The management have not been viewed too favourably by PI's, what will the shareholder value going forward look like? Any insight would be appreciated. Best factual data only is supplied for clarity.
Tickets! Just good to see something positive.
Woo-hoo! Great news. Now start drilling and make some money.
The debenture was issued to AGR which is controlled by the Assaubayevs. They tried to take control of TPL last year. http://www.rigzone.com/news/oil_gas/a/139412/AGR_Energy_Takes_Controlling_Stake_in_Tethys_Petroleum
Urraca, how do you know it was Assaubayev?
http://www.digitaljournal.com/pr/3091167 ................. Tethys Petroleum Press Release: Kazakhstan Legal Proceedings GRAND CAYMAN, CAYMAN ISLANDS--(Marketwired - Sept. 30, 2016) - Tethys Petroleum Limited (TSX:TPL)(LSE:TPL) ("Tethys" or the "Company") today announces that the Almaty City Court's Board of Appeals has found in favour of Tethys by dismissing the previously announced appeal of the claimant and upholding the earlier Court decision on August 24, 2016 to lift the seizure order over the Company's assets. The Court's decision is effective immediately, there is no right of further appeal and restrictions over the operation of the Company's bank accounts in Kazakhstan have been lifted.
Court of appeal rules in TPL's favour, and all assets are unlocked. Still have tp ay the debt, but a few months breathing room, on this particular issue anyway. Russia trumps Assaubayev.
For some reason I did not see any trading in Canada yesterday. They just had Wednesdays trades showing all day.
The drop is on the ticker TETHF -- which has been the ticker where Tethys has also been consistently shorted (based on updates found on Google Finance). A search by TETHF and TMX will show that is now 1.4 in the US. That said, as a US holder of more than a million shares, this might well be good news, as the ticker has never traded alongside Canada, with the BID and ASK always controlled by one apparently shorting entity. If that entity is gone, or else has switched to a Long position, Amen. The selloff does not appear to have affected the price of either UK or Canada exchanges, just makes those who have been shorting TETHF to be able to cash in at a nice profit.
rhertig where are you seeing 33% drop and 600000 shares traded?
No guns were pointed at our head to take the chance. Bottom drawer, some people can deliver against undeliverables
We signed up for this.
I'm sure tomorrow will show some more detail
33% drop on 600,000 shares. What the hell. No news out that I can see.
Come on you pathetic mules. Release the RNS and lets get moving. Hell will freeze over soon and you might still have your head up your rear ends in the board room look for your Ego's!