The Spirit of Tethys - 500 Beiträge pro Seite

[Jon_Schnee]

Homepage: http://www.tethyspetroleum.com/tethys/index.action

Market Cap: 212.44m
Shares Out: 307,877,744

INVESTOR RELATIONS / Conference Calls & Company Presentations:
http://www.tethyspetroleum.com/tethys/irwebcasting.action

Stockhouse: http://www.stockhouse.com/companies/quote/t.tpl/tethys-petro…

The only Independent working in three Central Asian Republics and the Caucasus

§ Oil & Gas Exploration & Production
§ Public company since 2007, listed on the main boards of:
- Toronto Stock Exchange (TSX)
- London Stock Exchange (LSE)

§ Focus on Central Asia & Caspian

§ Kazakhstan
- oil and gas production
- exploration upside

§ Tajikistan
- limited oil production
- “supergiant” exploration upside

§ Uzbekistan
- oil production – new field
- exploration area under negotiation

§ Georgia
- Strategic position being acquired
- Conventional & Unconventional

§ Long experience in area
§ Established operator
§ Mainly Institutional Shareholders

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Tethys Petroleum – Production & Upside in High Potential Areas

§ Oil and Gas Production underpins cash flow and provides solid growth
§ Well financed
§ High Potential areas offer massive upside
§ “First entrant” advantage has given Tethys large high potential exploration acreage
§ World class upside in underexplored basins
§ Variety of different basins and play types
§ Attractive to majors – Tajik farmout to Total and CNPC

§ Focused approach – concentration on region
§ Flexibility an Independent brings to projects
§ Established team with over 20 years experience in region

[Jon_Schnee]

Antwort auf Beitrag Nr.: 45.135.795 von Jon_Schnee am 29.07.13 18:06:38

leider erster Run verpasst. Wert ist auf meiner Watchlist. Sollte er nochmal schön zurück kommen, werde ich vermutlich zuschlagen.

Sehr wichtige News:
Farm out mit dem Französischen & Chinesischen Multi TOTAL resp. China National Petroleum Corporation ("CNPC").


Tethys Petroleum Limited: Tajik Farm-out Deal Completed
8/06/2013

DUSHANBE, TAJIKISTAN -- (Marketwired) -- 06/18/13 -- Tethys Petroleum Limited ("Tethys" or "the Company") (TSX:TPL)(LSE:TPL) announces the completion of the farm-out agreement announced in December 2012 with subsidiaries of Total Exploration and Production ("Total") and China National Petroleum Corporation ("CNPC") whereby each acquired a one third interest in its Bokhtar Production Sharing Contract (the "Bokhtar PSC") in Tajikistan.

The Bokhtar PSC covers an area of some 35,000 km2 and contains some 27.5 billion barrels oil equivalent of gross unrisked mean recoverable prospective resources (according to independent figures).

As part of the acquisition, the Tajik Government has also now added a further 1186.37 km2 of highly prospective acreage which was not previously included in the Bokhtar PSC, and has also extended the first relinquishment period under the PSC by five years until 2020.

Today's signing ceremony in Dushanbe, Tajikistan, was attended by Mr. Gul Sherali, the Minister of Energy and Industry of Tajikistan, Mr. Bo Qiliang, President of CNODC, Mr. Michael Borrell, Senior Vice President Continental Europe and Central Asia of Total and Dr. David Robson, Executive Chairman and President of Tethys Petroleum Limited.

Completion of the deal will enable the consortium to progress exploration plans within the Bokhtar PSC with further seismic acquisition and the drilling of deep exploration wells to evaluate the potential super giant deposits which are thought to be present in the area. This area is an extension of the highly prolific Amu Darya Basin, which contains some of the world's largest gas and condensate fields.

The PSC is now held equally by the three partners who own approximately one third of the project each. An operating company, the Bokhtar Operating Company, has been established and is jointly owned by the three partners.

Tethys' subsidiary Kulob Petroleum Limited ("KPL") which holds the Company's interest in the Bokhtar PSC receives some US$63 million relating to its past costs. It also has a part carry on an US$80 million initial work programme whereby KPL contributes only US$9 million towards this programme. Full details of the 2013 – 2014 work programme will be announced shortly.

Dr David Robson, Executive Chairman and President of Tethys, said:

"We believe the Bokhtar PSC is a world class asset with enormous potential. The strengths brought to this project by our new partners, Total and CNPC, means we are in a position to rapidly explore and develop this potential using all available techniques and technologies and with the financial strength to maximise success."

Michael Borrell, Senior Vice President, Continental Europe Central Asia, Total Exploration & Production said:

"This acquisition is aligned with our bolder exploration strategy and positions Total in one of the world's most prolific gas basins. The partnership between Total, CNPC and Tethys is particularly well equipped to conduct successful exploration and potentially develop a value-creating project."

Total S.A.

Total is one of the largest integrated oil and gas companies in the world, with activities in more than 130 countries. The Group is also a first rank player in chemicals. Its 97,000 employees put their expertise to work in every part of the industry - exploration and production of oil and natural gas, refining and marketing, new energies, trading, and chemicals. Total is working to help satisfy the global demand for energy, both today and tomorrow. www.total.com

CNPC

CNPC is China's largest oil and gas producer and supplier, as well as one of the world's major oilfield service providers and a global contractor in engineering construction. CNPC also owns and operates the Central Asia-China Gas Pipeline. The pipeline starts at Gedaim on the border of Turkmenistan and Uzbekistan, runs through central Uzbekistan and southern Kazakhstan, and ends at Horgos in China's Xinjiang Uygur Autonomous Region, where it interconnects to CNPC's Second China West-East Gas Pipeline. CNPC is also the parent company of PetroChina listed on the New York Stock Exchange and the Hong Kong Stock Exchange.

An Independent Resource Report of the Bokhtar PSC (dated June 30, 2012), prepared by Gustavson Associates in accordance with Canadian National Instrument 51-101, estimates Gross unrisked mean recoverable prospective resources of 27.5 billion barrels of oil equivalent, consisting of 114 trillion cubic feet (3.22 trillion cubic metres) of gas and 8.5 billion barrels of oil.

Tethys is focused on oil and gas exploration and production activities in Central Asia with activities currently in the Republics of Kazakhstan, Tajikistan and Uzbekistan. This highly prolific oil and gas area is rapidly developing and Tethys believes that significant potential exists in both exploration and in discovered deposits.

[Jon_Schnee]

Tethys Petroleum Limited: Extended Kazakhstan Drilling Programme
http://www.tethyspetroleum.com/tethys/newscontent.action?art…
29/07/2013

ALMATY, KAZAKHSTAN -- (Marketwired) -- 07/29/13 -- Tethys Petroleum Limited ("Tethys" or "the Company" (TSX:TPL)(LSE:TPL)), the oil and gas exploration and production company focused on Central Asia and the Caspian Region, today announced an update on its Kazakhstan drilling schedule previously announced as part of the Kazakhstan work programme through Q1, 2014.

Extended and accelerated drilling programme:
•Two deep exploration wells now to be drilled simultaneously
•AKD08 ("Doto") Exploration well, located between Doris and Dione oil discoveries to be drilled deeper with additional Triassic target
•New AKD09 ("Dexa") Exploration well targeting sand channel to north of Doris discovery
•Shallow gas well program accelerated to now drill five wells back-to-back

Dr, David Robson, Executive Chairman and President of Tethys added: "We are excited to announce this accelerated and fully funded drilling programme in Kazakhstan through the first half of 2014. Our world-class farm-out agreement in Tajikistan has enabled the Company to use these funds to accelerate our drilling programme in Kazakhstan demonstrating the real synergies in our portfolio. The program is comprised of two oil exploration wells, including a deeper Triassic target, which are designed to unlock high potential prospects but represent limited risk due to their proximity to the already producing Doris field. The shallow gas exploration programme is also relatively low risk given our impressive track-record in proving commerciality in the past. This combination of high impact and low risk opportunities offers our investors exposure to significant value creation in the coming months."

Oil

The AKD08 ("Doto") and AKD09 ("Dexa") wells will be drilled simultaneously providing significant cost savings and providing exposure to two potentially high impact prospects this year.

The AKD08 ("Doto") Exploration well is located to the south-west of the producing Doris field and north of the Dione oil discovery. It is designed to target several potential zones including the Lower Cretaceous sandstone and Upper Jurassic carbonate sequences as proven in Doris and, after significantly more interpretation being carried out over the summer, also the deeper Triassic sequence which had very good hydrocarbon shows in other wells in the near vicinity, including the AKD01 well (Doris oil discovery). Prospectivity may also exist in the Jurassic sandstone sequence which flowed oil in the Dione (AKD03) well. The Doto prospect has 22 million barrels gross mean unrisked recoverable prospective oil resources attributed to it (Gustavson & Associates) in the Cretaceous and Upper Jurassic sequences. The deeper Triassic sequence has not been independently assessed as yet and therefore the Company is unable to quote a reportable resource estimate for this horizon but the Company believes it to be an attractive prospect.

This well is planned to commence drilling operations in early September and is forecast to take approximately 70 days to drill to a planned total depth of 3,500 metres using Tethys' own ZJ70 "Telesto" rig.

The AKD09 ("Dexa") exploration/appraisal well is located to the North-west of the producing Doris field and is designed to target Lower Cretaceous channel sandstone sequences similar to the current major producing unit in the Doris field. The Dexa prospect has 14 million barrels gross mean unrisked recoverable prospective oil resources attributed to it (Gustavson & Associates).

This well is planned to commence drilling operations at the end of September and is forecast to take approximately 45 - 50 days to drill to a planned total depth of 2,400 metres using Tethys' own ZJ30 "Tykhe" rig which is no longer needed in Tajikistan and is being mobilised from there.

Both prospects offer relatively low risk exploration/appraisal opportunities and are the two closest currently identified exploration/appraisal targets to the Doris oil field itself.

On the Doris field itself further analysis of the producing wells is underway prior to the installation of artificial lift equipment and improvements in fluid handling planned for September. This work has resulted in production levels being temporarily reduced and currently the field is producing some 2,600 barrels of oil per day and further work is underway. Once the work is completed production is planned to return to over 3,500 barrels of oil per day.

Gas

Commencing in late September/early October five further shallow gas exploration wells are expected to be drilled consecutively on a number of additional prospects and leads which have been identified based on seismic data. These are relatively low risk targets and of the last 13 shallow exploration wells previously drilled by Tethys in the Akkulka Block, 11 tested commercial gas. This accelerated program will continue into H1 2014.

The planned gas exploration wells are typically 600-800 meters measured depth and will take up to three weeks each to drill. Currently these are located mainly in the central and south-eastern part of the Akkulka Exploration Contract and relatively close to existing gas infrastructure and the Akkulka Production Contract area.

Tethys has re-focused some of its investment into accelerating gas development and exploration after the significant increase in the realised gas price in January of this year. Current gas production is approximately 380,000 cubic metres (13.6 million cubic feet or 2,267 barrels oil equivalent) per day. The new Kazakhstan-China gas trunkline under construction (planned to pass through Tethys' contract areas) will provide an additional commercialization route and offers potential further price upside. Overall infrastructure in the field area is also improving and a new railway is now under construction with a new rail station planned to be built only some 70 kilometres from the Doris oilfield and 23 kilometres from the nearest Akkulka gas well. This could provide more cost effective transportation options for oil plus a nearby market for some gas.

[Jon_Schnee]

Antwort auf Beitrag Nr.: 45.135.909 von Jon_Schnee am 29.07.13 18:23:11

Tethys Petroleum – Catalysts for 2013

§ Kazakhstan
§ Drilling of “Doto” prospect and potentially further drilling
§ Testing of Kalypso (KBD01) discovery
§ Further production growth and production from Doris and from Dione oil discovery – testing programme
§ Further shallow gas well work and gas production increases

§ Uzbekistan
§ Field handover and first production from Chegara field
§ Signing of next stage of exploration agreements for Bayterek block

§ Tajikistan
§ Commencement of additional seismic acquisition by group

§ Georgia
§ Closure of acquisition deals
§ Commencement of new seismic data acquisition
§ Detailed source rock and shale oil studies
§ Possible early oil production (to be verified)

[Jon_Schnee]

Larry Cyna's "Whats-Hot-or-Not": Buy Tethys Petroleum Limited (TSX:TPL)
http://www.smallcappower.com/experts/posts/larry-cyna-blog-1…

[Jon_Schnee]

Tethys Executive Chairman and President Dr Robson speaks with CNBC Asia
23/04/2013

http://www.executiveinterviews.com/delivery/v1/mini/default.…

[Jon_Schnee]

Antwort auf Beitrag Nr.: 45.135.909 von Jon_Schnee am 29.07.13 18:23:11

Company ist finanziert bis Mitte 2014:

Dr, David Robson, Executive Chairman and President of Tethys added: "We are excited to announce this accelerated and fully funded drilling programme in Kazakhstan through the first half of 2014. Our world-class farm-out agreement in Tajikistan has enabled the Company to use these funds to accelerate our drilling programme in Kazakhstan demonstrating the real synergies in our portfolio.

[Jon_Schnee]

Tethys steps it up in Kazakhstan
By John Harrington July 29 2013, 8:35am

"The shallow gas exploration programme is also relatively low risk given our impressive track-record in proving commerciality in the past. This combination of high impact and low risk opportunities offers our investors exposure to significant value creation in the coming months," company chairman Dr David Robson said.

http://www.proactiveinvestors.co.uk/companies/news/59475/tet…

Tethys Petroleum (LON:TPL, TSE:TPL) is to use the funds it received from last month’s farm-out agreement on its Bokhtar venture in Tajikistan to accelerate its Kazakhstan drilling programme.

Dr David Robson, executive chairman and president of Tethys said: "Our world-class farm-out agreement in Tajikistan has enabled the company to use these funds to accelerate our drilling programme in Kazakhstan demonstrating the real synergies in our portfolio.

"The programme is comprised of two oil exploration wells, including a deeper Triassic target, which are designed to unlock high potential prospects but represent limited risk due to their proximity to the already producing Doris field.”

The AKD08 (Doto) and AKD09 (Dexa) wells will be drilled simultaneously.

Doto is located to the south-west of the producing Doris field and north of the Dione oil discovery. The Doto prospect has had 22 million barrels gross mean unrisked recoverable prospective oil resources in the Cretaceous and Upper Jurassic sequences attributed to it by independent consultants.

Drilling on Doto should start in early September and is expected to take around 70 days.

The Dexa well is located to the north-west of the Doris field and has 14 million barrels gross mean unrisked recoverable prospective oil resources attributed to it.

Drilling on this exploration/appraisal well is due to start towards the end of September and should take 45 to 50 days to reach its target depth. It will be drilled using Tethys’s own ZJ30 Tykhe rig, which is on its way from Tajikistan.

Both prospects offer relatively low risk exploration/appraisal opportunities and are the two closest currently identified exploration/appraisal targets to the Doris oil field itself, Tethys said.

The group is to follow up its successful drilling programme on the Akkulka block, where 11 of the 13 wells came up trumps with commercial levels of gas, by drilling a further five shallow gas wells, starting in late September or early October.

Tethys has re-focused some of its investment into accelerating gas development and exploration after the significant increase in the realised gas price in January of this year.

The new Kazakhstan-China gas trunk line under construction, which is planned to pass through Tethys’s contract areas, will provide an additional commercialisation route and offers potential further price upside, the company believes.

Overall infrastructure in the field area is also improving and a new railway is now under construction with a new rail station planned to be built only some 70 kilometres from the Doris oilfield and 23 kilometres from the nearest Akkulka gas well. This could provide more cost effective transportation options for oil plus a nearby market for some gas, Tethys added.

Shares in Tethys were up 1.3% at 44.7p in early deals

[Jon_Schnee]

Tethys Petroleum Limited Appoints Clive Oliver - Vice President Finance

12/08/2013

ST PETER PORT, GUERNSEY, CHANNEL ISLANDS -- (Marketwired) -- 08/12/13 -- Tethys Petroleum Limited ("Tethys" or "the Company" (TSX:TPL) (LSE:TPL)) today announced the appointment of Clive Oliver as Vice President Finance.

Clive joins Tethys from Essar Energy Plc where he held the position of Director of Financial Operations (Group Financial Controller). Clive is a Member of the Institute of Chartered Accountants, with 20 years post qualification experience having qualified with Deloitte & Touche - Australia, before re-locating to London in 1996 where he was a Senior Manager of the Financial Services Practice. Between leaving Deloitte and Touche and joining Essar, Clive held a number of senior positions with Charles Taylor plc.

Bernard Murphy, Chief Financial Officer, commented: "The appointment of Clive is a most welcome addition to our team and further strengthens it following Denise Lay's promotion to Deputy Chief Financial Officer. As Vice President Finance Clive will be a key figure in managing and developing the finance function within our expanding company. His extensive accounting experience both within the Oil and Gas industry and elsewhere will be a welcome addition to the Company's existing accounting resource."

Tethys is focused on oil and gas exploration and production activities in Central Asia and the Caspian Region with activities currently in the Republics of Kazakhstan, Tajikistan and Uzbekistan.

[Jon_Schnee]

Tethys Petroleum Limited: Second Quarter 2013 Financial Results14/08/2013

http://www.tethyspetroleum.com/tethys/newscontent.action?art…

[Jon_Schnee]

Antwort auf Beitrag Nr.: 45.264.341 von Jon_Schnee am 16.08.13 11:23:38

Tethys ist profitabel. Das schaffen nicht viele! Schön auch das Admin Kosten runter gehen.

Q2 Financial Highlights

Increase in earnings (EBITDA adjusted for share based payments) to USD8.0 million from USD1.1 million in 2012
Profit before tax of USD3.9 million (Q2 2012: Loss of USD4.4 million)Administrative costs down 12% at USD4.9 million (Q2 2012: USD5.5 million)

Six Months 2013 Financial Highlights

Increase in earnings (EBITDA adjusted for share based payments) to USD10.7 million compared with negative USD0.5 million in 2012
Profit before tax of USD0.6 million (2012: loss of USD11.1 million)Revenue from oil and gas sales up 29% at USD21.5 million (2012: USD16.7 million)
Administrative costs down 7% at USD9.6 million (2012: USD10.4 million)

[Jon_Schnee]

Tethys Petroleum Limited: Chegara Presidential Decree Issued
Tuesday, September 10, 2013

Tethys Petroleum Limited: Chegara Presidential Decree Issued
03:22 EDT Tuesday, September 10, 2013
TASHKENT, UZBEKISTAN--(Marketwired - Sept. 10, 2013) - Tethys Petroleum (TSX:TPL)(LSE:TPL) is pleased to announce that it has received final presidential approvals for the Production Enhancement Contract ("PEC") for the Chegara Group of Oilfields in southern Uzbekistan.

According to the Decree of the President of the Republic of Uzbekistan No. PP-2025 "On measures to enhance oil production from the fields of the Bukhara-Khiva oil and gas region in the Republic of Uzbekistan" dated August 19, 2013, the UNG proposal on the Contract for enhancement of liquid hydrocarbon production in the Chegara Group of Fields between JSC Uzneftegazdobycha, JSC Uznefteproduct and Chegara Production Limited, a wholly owned subsidiary of Tethys Petroleum Limited, was agreed and adopted.

The PEC will now be registered with the appropriate State bodies in the Republic of Uzbekistan and will be declared effective after which work will begin. This is planned to be within the next two months.

Dr David Robson, Executive Chairman and President of Tethys, commented, "It was a great pleasure to receive confirmation of the Presidential approval for the Chegara PEC from UNG, and we look forward to commencing equity production from Chegara in the nearest future, this adding another cash flow stream to the Company's portfolio from what we believe to be a significant asset with excellent potential

[Jon_Schnee]

Antwort auf Beitrag Nr.: 45.135.795 von Jon_Schnee am 29.07.13 18:06:38

Kurs bröckelt nach Kursexplosion stetig ab... Immer noch ein guter Watch List Wert. Hoffe wir sehen hier nochmals richtig tiefe Preise.

[Jon_Schnee]

Tethys Petroleum Limited: Organisational Changes
Wednesday, September 11, 2013

DUBAI, UNITED ARAB EMIRATES--(Marketwired - Sept. 11, 2013) - Tethys Petroleum (TSX:TPL) (LSE:TPL) today announced the appointment of Stephen Elliott to the position of Vice President Project Development.

Steve has been with the Company since April 2009. In his new corporate role, Steve will now have overall responsibility for Tethys' operated projects at the project stage in all countries of focus. In the last few years, Steve has lived and worked in the key operations areas in key senior management positions and his practical working knowledge of the current operations will be invaluable to him in his new role. He is currently General Manager of the Uzbek development projects and is General Director Designate of our Georgian operating company and will continue in these roles in the short term. Recently he has also served as General Director in the Kazakh operating companies and his successor there, Mikheil Ninua, will now report to Steve in his new capacity.

Steve was originally trained as a geologist but has spent the rest of his career working in project management mainly with Baker Hughes prior to his move to Tethys. He has spent over 14 years working in the former Soviet Union and has experience in other parts of world including Africa and the North Sea.

In addition, Mark Sarssam has been appointed to the new position of Senior Vice President where he will also be responsible for global new ventures and associated related business development. Currently, Mark is Vice President Reservoir Development and has worked for the Company since 2011. Mark previously worked for Dragon Oil plc, where he worked as New Ventures Advisor and Head of Reservoir Development focused on the successful Cheleken oil and gas Block, (Lam and Zhdanov fields) in the Caspian Sea, offshore Turkmenistan. Prior to his work with Dragon Oil, he was employed by Shell as a Senior Reservoir Engineer and Field Leader.

Tethys is focused on oil and gas exploration and production activities in Central Asia and the Caspian Region with activities currently in the Republics of Kazakhstan, Tajikistan, Uzbekistan and Georgia. This highly prolific oil and gas area is rapidly developing and Tethys believes that significant potential exists in both exploration and in discovered deposits.

The appointment of Stephen Elliot is subject to the approval of the Toronto Stock Exchange.

FOR FURTHER INFORMATION PLEASE CONTACT:

Contact Information: Tethys Petroleum Investor Relations:Sabin RossiVice President Investor [e-mail]

[Jon_Schnee]

Tethys Petroleum Limited: Drilling Commences on AKD08 ("Doto") Exploration Well

Thursday, September 12, 2013

BOZOI, KAZAKHSTAN--(Marketwired - Sept. 12, 2013) - Tethys Petroleum Limited ("Tethys" or "the Company" (TSX:TPL) (LSE:TPL), the E&P Company focused on Central Asia and the Caspian Region, announces that it has commenced drilling of the AKD08 ("Doto") Exploration well in Kazakhstan.

The AKD08 ("Doto") Exploration well is located to the south-west of the Company's producing Doris field and north of its Dione oil discovery in Kazakhstan. The well is designed to target several potential zones, including the Lower Cretaceous sandstone and Upper Jurassic carbonate sequences as proven in Doris, and also the deeper Triassic sequence which gave significant hydrocarbon shows in nearby wells, including the Company's AKD01 well (Doris oil discovery). Prospectivity may also exist in the Jurassic sandstone sequence which flowed oil in the Dione (AKD03) well.

The Doto prospect has 22 million barrels gross mean unrisked recoverable prospective oil resources attributed to it (Gustavson & Associates, April 30, 2012) in the Cretaceous and Upper Jurassic sequences. The deeper Triassic sequence has not yet been independently assessed, and as such the Company is currently unable to quote a reportable resource estimate for this horizon. However, the Company believes it to be an attractive prospect.

The Doto well is expected to take approximately 70 days to drill to a planned total depth of 3,500 metres using Tethys' own ZJ70 "Telesto" rig.

The AKD09 ("Dexa") Exploration well is now expected to commence drilling in mid October due to a minor delay in mobilisation of equipment and integration of services with the Doto well.

Graham Wall, Chief Operating Officer of Tethys, commented, "We are very pleased to have started drilling on the Doto well commencing our exciting drilling programme in Kazakhstan. The Doto well is targeting several zones which have been either commercially proven or shown to be promising on adjacent structures. The timing of the Dexa Exploration well is being co-ordinated with the drilling of the Doto well in order to optimise resources, thereby reducing costs."

[curacanne]

Hallo,
interessante seite!
Da Du überwiegend us währung handelst, bei welchem broker bist Du?
danke und weiterhin gute trades!

Gruß
curacanne

[curacanne]

Antwort auf Beitrag Nr.: 46.155.303 von curacanne am 04.01.14 11:49:22

meinte natürlich in us währung und außerdem Deinen anderen thread

[texas2]

Antwort auf Beitrag Nr.: 46.155.311 von curacanne am 04.01.14 11:53:01

Mir gefällt das Potential von Tethys, wenn auch der Dr. Robsome bei mir subjektiv mit seinem hohen Gehalt wie ein Schlitzohr rüberkommt - was er wahrscheinlich auch sein muss, wenn er erfolgreich Geschäfte, Deals in den Stan-Ländern abschließt

Zur zeit sehen die shallow gas Bohrungen ganz gut aus. Der Nachteil dieser Lagerstätten ist der geringe Lagerstättendruck. dh wir müssen hoffen, dass die Lagerstätte möglichst gr0ßflächig ist und die Mächtigkeiten möglichst groß ist, damit attraktive Gasvolumina da sind. Vorteil solcher Lagerstätten ist, dass diese relativ seichten Bohrungen relativ kostengünstig und schnell gebohrt werden können.

Frage mich auch was unterhalb der shallow gas Lagerstätte ist und ob das schon abgebohrt, exploriert ist.

Tethys steht meiner Meinung nach besser da als viele andere neu gegründeten Ölbohrer.

[texas2]

Antwort auf Beitrag Nr.: 46.897.354 von texas2 am 30.04.14 00:02:36

http://www.bloomberg.com/video/tethys-s-robson-on-energy-mar…

[texas2]

Hätte jetzt nicht gedacht dass sie dafür neue Aktien ausgeben müssen:

Tethys announces $15m equity financing
By StockMarketWire | Wed, 14th May 2014 - 08:53
Tethys Petroleum Limited has conditionally raised $15m through the issue of 36,894,923 new ordinary shares to new and existing investors at £0.24 a share.

Net proceeds would be used for continued development of Tethys' Kazakh shallow gas programme including installation of a gas dehydrator, drilling of new shallow gas wells, and the purchase and installation of tie-in pipelines and associated infrastructure.

Completion of this work should result in an increase in current gas production by the beginning of 2015 at which time Tethys plans to begin sales into the Chinese market and potentially realise higher prices than current levels.

"This programme must be implemented now in order to meet the target of producing the additional gas by year-end," the company said.

As further background in November 2013, Tethys announced it had entered into a definitive agreement for the sale of 50% (plus one share) of its Kazakh oil & gas assets to SinoHan Oil and Gas Investment B.V. ("SinoHan"), part of HanHong, a Beijing, PRC based private equity fund for an initial payment of $75m plus potential bonuses. The sale is subject to Kazakh State approvals, including the waiver on pre-emption.

At 8:53am: (LON:TPL) Tethys Petroleum Limited share price was -0.25p at 26.63p

[texas2]

Tethys Petroleum Limited: First Quarter 2014 Financial Results
T.TPL, TPL | 7 hours ago
GRAND CAYMAN, CAYMAN ISLANDS--(Marketwired - May 15, 2014) - Tethys Petroleum Limited ("Tethys" or the "Company") (TSX:TPL) (LSE:TPL) today announced its First Quarter 2014 Financial Results.

Corporate Highlights

Drilling of a further 3 successful shallow gas exploration wells: AKK17, AKK18 and AKK19. These wells have a predicted test capacity of over 20 million cubic feet (570,000 cubic metres) of gas per day based on nearby similar well results. Further shallow well drilling is planned as well as tie in of these and other wells to increase production of natural gas
Independent report commissioned on the "Klymene" prospect in Kazakhstan estimated Unrisked Mean Recoverable Oil Resources at over 400 million barrels. The Klymene exploration well is planned for later this year following successful completion of the recently announced SinoHan acquistion
Completion of the acquisition of a 56% interest in Blocks XIA, XIM and XIN, in eastern Georgia; areas which the Company believes have good potential for both unconventional and conventional oil, with independent estimates giving some 1.8 billion barrels oil equivalent of Unrisked Mean Recoverable Resources to Tethys' interest
Selection of seismic contractor for the next phase of the geophysical acquisition on the Bokhtar PSC in Tajikistan by the joint Tethys/TOTAL/CNPC joint operating company BOC
Successful capital raise of USD15 million completed in May, 2014
Financial Highlights

Loss for the period from continuing operations reduced 6% year-on-year to USD 4.4 million (Q1 2013: USD4.7 million)
Basic & diluted loss per share of USD0.01 cent from continuing operations (Q1 2013: USD0.02 cents)
Capital Expenditure of USD7.3 million (Q1 2013: USD1.3 million)
Cash and cash equivalents at the end of Q1 2014 of USD13.7 million (Q1 2013: USD1.4 million)
Oil and gas revenue from continuing operations of USD6.8 million - a decrease of 35% on the comparative period (Q1 2013: USD10.5 million) primarily due to trucking issues related to weather and issues with downhole pumps (now largely resolved)
The full Quarterly Results together with Management's Discussion and Analysis have been filed with the Canadian securities regulatory authorities. Copies of the filed documents may be obtained via SEDAR at www.sedar.com or on Tethys' website at www.tethyspetroleum.com. The summary financial statements are attached to this press release.

The Company's First Quarter 2014 financial statements are prepared under International Financial Reporting Standards ("IFRS").

The above highlights along with other financial details will be further discussed in a scheduled conference call. Details of the conference call can be found below:

Conference Call:

A conference call will be held at 9:00AM EDT (2:00PM BST) on Friday, May 16, 2014. The North American conference call number is 800-299-8538 and the outside North America conference call number is [phone]. The conference call code to use is 55303387. Please call in about 10 minutes before the starting time in order to be patched into the call.

Webcast:

The call is being webcast and can be accessed at:

http://www.media-server.com/m/acs/3dc574fb9ff21e9ee30eaa5e61…

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.


Tethys Petroluem Limited
Condensed Consolidated Statement of Financial Position (unaudited)
(in thousands of US dollars)

[texas2]

Antwort auf Beitrag Nr.: 46.992.544 von texas2 am 16.05.14 06:21:32

TETHYS ON TRACK FOR A 15 YEAR EXTENSION TO KYZYLOI GAS CONTRACT

05/21/2014
ASTANA, KAZAKHSTAN--(Marketwired - May 21, 2014) - Tethys Petroleum Limited ("Tethys" or the "Company") (TSX:TPL)(LSE:TPL) today announced that the Kazakh State Reserves Committee (GKZ) has approved the Company's gas reserve evaluation for the Kyzyloi Production Contract area (the "Contract"). This approval is a precursor to a further extension of 15 years of the Contract and is subject to confirmation and registration of this extension with the appropriate bodies including the Ministry of Oil and Gas of the Republic of Kazakhstan ("MOG").

The Contract Area covers some 287 km2 (70,918 acres) and the Company is currently producing gas from the shallow Kyzyloi sandstone in this area. Such an extension will give Tethys significantly more time to produce natural gas from this attractive area.

The reserves attributed to the Kyzyloi Contract area, determined in accordance with National Instrument 51-101 of the Canadian Securities Administrators, are included in the Company's reserves evaluation for its oil and gas interests in Kazakhstan set out in its Annual Information Form dated March 31, 2014 available on www.sedar.com.

Gas Programme Update (on the surrounding Akkulka area)

Work continues on the shallow gas exploration and development programme in the surrounding Akkulka area. Drilling operations on the AKK20 well have commenced. This is the fourth exploration well of the 2014 shallow gas programme and is targeting gas at two shallow gas horizons, both the Kyzyloi sand and, at the deeper, higher pressured Tasaran sand level.

Testing of the AKK17, AKK18 and AKK19 wells will commence in early June with AKK20 to follow on should the logs indicate success and this is expected to take a combined 6 - 8 weeks. Following testing, State Reserves will be obtained for these deposits and these wells will be tied into the existing infrastructure along with AKK05, AKK15 and AKK16. The order for gas dehydration equipment has now been placed, with the aim of commencing significantly increased gas production from the beginning of 2015.

Steve Elliott, Vice President Project Development for Tethys commented; "Obtaining updated State Reserves for Kyzyloi places us on track to secure a long extension to the Kyzyloi gas field production period. The programme on Akkulka continues apace, with new wells being drilled, testing and tie-ins planned for this summer, and with important facilities such as the gas dehydration equipment now moving forward. Our project team is focused on meeting the objective of tripling gas production by the beginning of next year and our commercial negotiators are working on achieving significant increases in gas prices, all of which should add significantly to cash flow from the project in 2015."

Tethys is focused on oil and gas exploration and production activities in Central Asia with activities currently in the Republics of Kazakhstan, Tajikistan and Georgia. This highly prolific oil and gas area is rapidly developing and Tethys believes that significant potential exists in both exploration and in discovered deposits.

This press release contains "forward-looking information" which may include, but is not limited to, statements with respect to the Contract extension, testing of the AKK17, AKK18, AKK19 and AKK20 wells and tying-in of these wells and the AKK05, AKK15 and AKK16 wells (collectively, the "Wells"), tripling of gas production by the beginning of 2015, significant increases in gas pricing and addition to cash flow in 2015. Such forward-looking statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions including the risk that approval of the Contract extension, or its registration, will be delayed or deferred, the risk that testing and/or tying-in of the Wells will be delayed, the risk that gas production from the Akkulka contract area will not triple by the beginning of 2015 because of equipment mobilization, geological issues or production delays, and the risk that gas prices realized by the Company in 2015 will not significantly increase. These forward-looking statements assume that testing and tying-in of the Wells will be completed on schedule and that gas production and pricing from the Akkulka contract area will increase as expected. See our Annual Information Form dated March 31, 2014 for the year ended December 31, 2013 for a description of risks and uncertainties relevant to our business, including our exploration and production activities. The "forward-looking statements" contained herein speak only as of the date of this press release and, unless required by applicable law, the Company undertakes no obligation to publicly update or revise such information, whether as a result of new information, future events or otherwise.


FOR FURTHER INFORMATION PLEASE CONTACT:
Tethys Petroleum Limited
Sabin Rossi
Vice President Investor Relations
[e-mail]


Media / IR Enquiries
London
FTI Consulting:
Ben Brewerton / Adam Cubbage / James Styles
[phone]


Asia Pacific
Quam IR:
Anita Wan
[phone]


[e-mail]
www.tethyspetroleum.com
https://twitter.com/tethyspetroleum



Source: Tethys Petroleum Limited

[texas2]

Hoffentlich testen die bald, bevor Mr. Robsome zuviel Geld aus der Firma gemolken hat. Der Markt scheint ja zZ. nicht besonders beeindruckt zu sein.


TETHYS PETROLEUM LIMITED: DRILLING COMPLETED ON FOURTH WELL IN KAZAKH GAS CAMPAIGN

06/02/2014
BOZOI, KAZAKHSTAN--(Marketwired - June 2, 2014) - Tethys (TSX:TPL)(LSE:TPL) is pleased to announce completion of drilling and logging of the AKK20 exploration well, the fourth well in its 2014 shallow gas drilling programme in Kazakhstan.

The well was drilled to a depth of 681 metres (2,234 feet) with hydrocarbon shows and electric logs indicating the presence of hydrocarbons within the target Tasaran sand, although testing will be required on this well to confirm commerciality. The well is located some 4.4 kilometres (2.76 miles) north of the AKK15 well which encountered a gas-bearing interval within the Tasaran which tested gas at a stable rate of approximately 195,000 cubic metres (7 million cubic feet or 1,167 barrels oil equivalent) per day.

Production casing is now being run and the well will be prepared for flow testing as part of a comprehensive testing programme, along with AKK17, AKK18 and AKK19, to commence later this month. The results of this programme will then be submitted to the State Committee for Reserves in order for the wells to be incorporated into the existing Akkulka Production Contract.

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.

This press release contains "forward-looking information" which includes the start of a testing program, the inclusion of the wells in the Akkulka Production Contract and the commercialization of the wells. Such forward-looking statements reflect our current views with respect to future events and are subject to certain assumptions, including that testing of the wells will commence in June 2014 and that test results of the AKK17, AKK18, AKK19 and AKK20 wells will be consistent with expectations, and are subject to certain risks and uncertainties, including the risk that testing will be delayed and that limited discoveries will result from these wells. The indications of hydrocarbons observed in this well are no guarantee that the well will test or produce commercial quantities of hydrocarbons or indeed any hydrocarbons to surface. See our Annual Information Form for the year ended December 31, 2013 for a description of risks and uncertainties relevant to our business, including our exploration activities. The "forward looking statements" contained herein speak only as of the date of this press release and, unless required by applicable law, the Company undertakes no obligation to publicly update or revise such information, whether as a result of new information, future events or otherwise.


FOR FURTHER INFORMATION PLEASE CONTACT:
Tethys Petroleum Limited
Sabin Rossi
Vice President Investor Relations
[e-mail]


Media / IR Enquiries
London
FTI Consulting
Ben Brewerton / Adam Cubbage / James Styles
[phone]


Asia Pacific
Quam IR
Anita Wan
[phone]


[e-mail]
http://www.tethyspetroleum.com

https://twitter.com/tethyspetroleum

[texas2]

Antwort auf Beitrag Nr.: 47.088.572 von texas2 am 02.06.14 19:45:34

BOZOI, KAZAKHSTAN--(Marketwired - July 2, 2014) - Tethys Petroleum Limited ("Tethys") (TSX:TPL)(LSE:TPL) is pleased to announce the test results from AKK17, AKK18, AKK19 and AKK20; the first four shallow gas exploration wells of its 2014 programme.

The AKK17, AKK18, AKK19 and AKK20 wells tested at an aggregate rate of approximately 650 Mcm/d (23MMcf/d) from the Tasaran horizon.

It is planned that these wells will be incorporated under the Akkulka Production Contract by Q1 2015 whereupon they will be tied-in to the existing gas production infrastructure and placed on permanent production. Additionally, the four previously drilled and tested wells, AKK05, AKK14, AKK15 and AKK16 will also be brought on stream in Q1 2015 to target an initial total production rate of 800 - 1,000 Mcm/d (28 MMcf/d - 35 MMcf/d).

Additional wells are planned to be drilled in the proximity of the new discoveries as well as the existing wells, such as AKK15 and AKK16, next year and subsequent pipelines will be laid and tied into the optimised infrastructure in order to maintain production levels.

In support of this shallow gas programme, work has already commenced on the gas dehydration project and on the pipelines required to tie-in these additional wells to the existing gas production infrastructure. Both projects are on schedule for completion by year-end.

Graham Wall, Chief Operating Officer of Tethys commented, "We are very pleased with the continued success of the Kazakh shallow gas programme. These latest results (some of which were tubing constrained) keep us on track to achieve a near three fold increase in gas production by the beginning of 2015."

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.

This press release contains "forward-looking information" which may include, but is not limited to, the potential for successful discoveries and their commercialization, and our exploration targets. Such forward-looking statements reflect our current views with respect to future events and are subject to certain assumptions, including the assumption that the AKK17, AKK18, AKK19 and AKK20 wells will be incorporated under the Akkulka Production Contract by Q1 2015, and will be tied-in to the existing gas production infrastructure and placed on permanent production; the AKK05, AKK14, AKK15 and AKK16 wells will also be brought on stream in Q1 2015 to target an initial total production rate of 800 - 1,000 Mcm/d (28 MMcf/d - 35 MMcf/d); that additional wells will be drilled in the proximity of the new discoveries next year and subsequent pipelines will be laid and tied into the optimised infrastructure in order to maintain production levels; the gas dehydration project and pipelines required to tie-in these additional wells to the existing gas production infrastructure will be completed by years end; negotiations for a new gas sales contract will be finalised by Q4 2014; the fact that the Company will be successful in confirming the existence of the accumulations of petroleum in respect of its exploration targets, and subject to certain risks and uncertainties, including the risk that limited discoveries will result from exploration wells and as a result the risk that any or all of the prospective resources will not become recoverable. See our Annual Information Form for the year ended December 31, 2013 for a description of risks and uncertainties relevant to our business, including our exploration activities. The "forward looking statements" contained herein speak only as of the date of this press release and, unless required by applicable law, the Company undertakes no obligation to publicly update or revise such information, whether as a result of new information, future events or otherwise.

Tethys Investor Relations
Sabin Rossi, Vice President Investor Relations
Tethys Petroleum Limited
[e-mail]

Media / IR Enquiries
London
FTI Consulting:
Ben Brewerton / Adam Cubbage / James Styles
[phone]

Asia Pacific
Quam IR:
Anita Wan
[phone]

[e-mail]
Web: http://www.tethyspetroleum.com
Twitter: https://twitter.com/tethyspetroleum

Marketwired (Canada)
July 2, 2014 - 2:00 AM EDT
Tags: ENERGY

Read more at http://www.stockhouse.com/news/press-releases/2014/07/02/tet…

mMn gute Nachricht, die sich aber im Kurs nicht reflektiert

[texas2]

http://www.edisoninvestmentresearch.com/serve_pdf.php?d=rese…

[texas2]

Antwort auf Beitrag Nr.: 47.273.228 von texas2 am 07.07.14 19:59:43

Thread: Wer kann helfen?

und hier warten wir auf die erzählten huuuuugh bullish Visionen ....

[texas2]

Antwort auf Beitrag Nr.: 47.412.514 von texas2 am 01.08.14 05:26:39

http://www.youtube.com/watch?v=FN5xkB47Dn8&feature=youtu.be

jetzt mit richtigem link

[texas2]

http://web.archive.org/web/20061103185859/http://www.canargo…

Seit 2005 klappert Mr. Robon mit diesem shallow gas field. Ob das 2015 dann endlich mit einem positiven cash flow klappt, das ist hier die existenzielle Frage.

[texas2]

Antwort auf Beitrag Nr.: 47.451.265 von texas2 am 06.08.14 23:07:51

Shallow gas field, entdeckt 1966 ...

Und damit wir nicht vergessen woher wir kommen:

History

Blake Oil and Gas was incorporated in Guernsey in December 2009.

Prior to 2010 the Georgian assets were owned by AMEX listed CanArgo Energy Corporation (CEC) when a corporate reorganisation, following Chapter 11 in late 2009, led to new private ownership of their assets and refinancing by Blake in early 2010.
The recent transition from CEC to Blake has been carefully managed, with the senior management of CEC transferred to Blake following the corporate restructuring in 2010, thus providing management continuity and a seamless transfer of the assets from CEC to Blake. CanArgo Georgia has also been retained as the operating subsidiary in Georgia together with the established local management and staff. This has ensured that the in-country relationships including, very importantly, the government and its oil and gas authorities, have remained very much intact.
Historical operations by CEC, following their acquisition of the acreage in the Kura Basin in Georgia between 1996 and 2000, involved not only earlier phases of rehabilitation, appraisal and development drilling of the central part of the Ninotsminda Field, but exploration drilling in the surrounding area which led to two new oil discoveries at Manavi and Norio.

[texas2]

Vielleicht wäre es besser, wenn der Dr. RobSome erst ankündigt, wenn alles tatsächlich in trockenen Tüchern ist ...


TETHYS PETROLEUM LIMITED: OPERATIONS AND CORPORATE UPDATE

09/16/2014
GRAND CAYMAN, CAYMAN ISLANDS--(Marketwired - Sept. 16, 2014) - Tethys Petroleum Limited ("Tethys" or "the Company" (TSX:TPL) (LSE:TPL)) today provided an Operational and Corporate update.

This Press Release is aimed at bringing stakeholders up to speed with current developments in the Company's business, including its operations and corporate developments.

OPERATIONS

In Kazakhstan, work continues on the gas project with the dehydration equipment having now been successfully tested in China and being shipped to Kazakhstan. Work is proceeding well on the installation of additional field pipelines, etc., and we are on track for meeting our production target of three times current gas production by the Q1, 2015. This work is fully funded from the proceeds of the recent financing. Negotiations on possible sales contracts continue (following the usual Central Asian summer break) and we hope to reach a conclusion on these negotiations before the end of the year to enable considerably increased volumes of gas to be supplied to buyers at higher prices for 2015 and beyond.

In terms of other operations, these are currently waiting on closure of the HanHong deal although planning is being carried out for horizontal and high angle drilling on the Doris oil field in order to increase short-term production as well as plans to meet work commitments on both the Akkulka and Kul-Bas contracts. Obligations are being addressed to extend the Akkulka exploration contract beyond March 2015 and we are waiting on the HanHong funding to move ahead with the necessary gas utilisation equipment and indeed to complete the appraisal of the area such that we can apply for a production contract thereby enabling us to achieve higher oil prices. The need to preserve flexibility with respect to the area under contract is clearly important as there are a number of other potential oil deposits (including the recently identified Akkulka Central prospect) which need to be included in any production contract following their appraisal. We are receiving good support from the Kazakh authorities on this work. The presence of Total SA in the blocks around us, where they are planning to drill a number of wells, reinforces the view that our assets have considerable potential.

The planned Klymene exploration well on the large Klymene prospect has been engineered and will be committed to once the HanHong monies are received. This is a large, relatively low risk exploration prospect with independent resource estimates in excess of 400 million barrels of oil.

To date, we have not received the Article 36 consent (pre-emptive right waiver) from the Kazakh government for the deal signed with HanHong last November. The recent restructuring of the Kazakh Government Ministries relating to the energy sector has in our view, led to further additional time being required by the Kazakh government to make a decision on waiving their pre-emption rights. HanHong have released early the USD 3.88 million escrowed deposit on the deal and further discussions will be held with a view to extending the agreement's one year longstop date should this be necessary.

In Tajikistan, our Bokhtar joint venture with Total SA and CNPC is operating effectively although there have been considerable delays in the commencement of the seismic work which is being carried out by the Chinese company, BGP. The work on the first well (which is currently programmed to be drilled at the end of next year) is being led by Tethys on behalf of the group (which is undoubtedly a significant endorsement of the ability of our corporate drilling team) and this work is progressing well although, with the depths, pressures and potential drilling challenges being highlighted by the partners, a considerable amount of long lead items will be required in order to drill what will be a demanding and technically challenging well. Work on the Tajikistan-China gas pipeline commenced on September 13, with a planned completion in 2016, this being a potential export route for Bokhtar gas to the growing Chinese market. Tethys regards Tajikistan and in particular the Bokhtar area as having huge upside potential for the future.

In Georgia, no additional significant capital expenditure has been incurred this year and only further limited expenditure is needed to meet our commitments on this attractive acreage with high potential. The work carried out to date indicates a number of very attractive areas both conventional and unconventional oil plays, close to existing fields, and we are working closely with our partners on the best way to optimise costs and move forward. However, we are examining our strategic options with our projects in Georgia despite their high short to medium term potential and the relative political stability as well as the ability to receive world oil prices at the field. As such, the Company is currently looking at the potential to bring in partners or divest some of its interest in the Georgian projects in order to reduce further the already small amount of planned capital expenditure on these projects.

CORPORATE

In response to the issues raised by the Company's major shareholders after the AGM, we have been carrying out a comprehensive review of costs, efficiencies and strategy as well as corporate governance issues.

The stated objectives of the Company have always been to explore for large upside potential whilst producing and generating cash flow from more immediate projects in a portfolio, which balances political and fiscal risk across the Company's operating area.

This remains the Company's objective and this is the unanimous view of the Board of Directors. We do, however, appreciate that we need to make certain changes in order to optimize the Company's business model and address the issues referred to above.

We recently announced the retirement of Russ Hammond on his 73rd birthday in October of this year. Russ has served the Company very well and his advice has been extremely important in the development of the corporation.

We intend to bring to the Board a replacement for Russ - a new independent Non Executive Director, new to the Company, who will work closely with the Chairman to implement a Change Agenda in order to better focus the Company on its objectives, streamline management structures and overall costs and address the concerns of some of its major shareholders. This process will begin soon with the target of completing the initial review before the end of the year and implementation in the first quarter of next year. In addition we are working on ensuring that the Board has a majority of directors who both are, and are seen to be, independent.

This review will be broad and comprehensive in order to refresh the Company, review and bear down on costs and re-focus it on its objectives in an effective and efficient manner.

The Company's stakeholders will be kept abreast of the progress of this review once the initial phase is complete and the Board anticipates that this will address both the concerns of the shareholders and help the business move forward in a more effective manner.

The Chairman of Tethys Petroleum, Dr. David Robson, commented: "I firmly believe that Tethys has excellent assets in areas that we know well and can operate effectively through our long-term relationships and ability to do business in the states of the former Soviet Union. The Company is unique given its geographic spread and, indeed, the potential which it has across the area with its ability to grow and develop its current assets using its technically skilled and capable workforce. This workforce is extremely committed, professional and focused on the Company's success and continues to work extremely hard in often remote and difficult parts of the world.

However, all things need to be able to evolve with time and the Company has grown from a small, single, stranded gas field in Kazakhstan to having the assets it has today following exploration success (the first oil discovery in the West Aral area of Kazakhstan and the first oil discovery in Tajikistan since independence), forming partnerships with oil majors and operating in environmentally challenging conditions, remote from any infrastructure, whilst following the rule of law and establishing itself as one of the most respected operators in the region.

We are firmly of the opinion that the potential of the Company's assets, geopolitical presence and operating team, is not reflected in the current share price. We are confident that the proposed Change Agenda combined with the continued implementation of the Company's commercial and operational strategy will help to address this and allow the Company to build a bright future in the interests of its shareholders, employees and the host governments of the countries in which it works."

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.

The references in this press release to "Prospective Recoverable Resources" means those quantities of petroleum estimated to be potentially recoverable from undiscovered accumulations by application of future exploration and development projects. Prospective resources have both an associated chance of discovery and a chance of development. There is no certainty that any portion of these resources will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of these resources. The product types that may reasonably be expected from potential production consist of oil, condensate, natural gas and associated gas.

The resource estimates contained or referred to are estimates only and are not meant to provide a determination as to the volume or value of hydrocarbons attributable to any prospect. There are numerous uncertainties inherent in estimating quantities of resources and cash flows that may be derived, including many factors that are beyond the control of the Company. The following is a non-exhaustive list of factors which may have a significant impact on the above estimates of prospective resources: despite the classification that they are as yet undiscovered but may be potentially recoverable the Company may be unable to carry out the development or their potential recovery; the activity may not be economically viable; the Company may not have sufficient capital or time to develop them; there may be no market or transportation routes for the potential production; legal, contractual, environmental and governmental concerns might not allow for the recovery being undertaken; reservoir characteristics might prevent recovery. The recovery of the resources is subject to the following risks and uncertainties: market fluctuations, the proximity and capacity of oil and gas pipelines and processing equipment, government regulation, political issues, export issues, competing suppliers, operational issues (exploration, production, pricing, marketing and transportation), extensive controls and regulations imposed by various levels of government, lack of capital or income, the ability to drill productive wells at acceptable costs, the uncertainty of drilling operations, factors such as delays, accidents, adverse weather conditions, and the availability of drilling rigs and the delivery of equipment.

This press release contains "forward-looking information" which may include, but is not limited to, achieving three times current Kazakh gas production by Q1 2015, conclusion of gas sales contract negotiations in Kazakhstan before the end of the year to enable considerably increased volumes of gas to be supplied to buyers at higher prices for 2015 and beyond, closure of the HanHong deal, the possible extension of the Akkulka Exploration Contract, commencement of drilling the "Klymene" prospect, receipt of the Article 36 consent (pre-emptive right waiver) from the Kazakh government for the deal signed with HanHong last November, commencement of seismic work in Tajikistan, the potential to bring in partners or divest some interest in the Georgian projects, a comprehensive review of costs, efficiencies and strategy as well as corporate governance issues, the replacement of Russ Hammond with a new independent Non Executive Director who would be new to the Company, prospective resource estimates, the potential for successful discoveries and their commercialisation, and our exploration targets. Such forward-looking statements reflect our current views with respect to future events and are subject to certain assumptions, the fact that the Company will be successful in confirming the existence of the accumulations of petroleum in respect of its exploration targets, and subject to certain risks and uncertainties, the risk that limited discoveries will result from exploration wells and as a result the risk that any or all of the prospective resources will not become recoverable. See our Annual Information Form for the year ended December 31, 2013 for a description of risks and uncertainties relevant to our business, including our exploration activities. The Company is currently unsure as to any effect the recently imposed sanctions on the Russian Federation may have on its business and is currently attempting to assess any effects. The "forward looking statements" contained herein speak only as of the date of this press release and, unless required by applicable law, the Company undertakes no obligation to publicly update or revise such information, whether as a result of new information, future events or otherwise.


FOR FURTHER INFORMATION PLEASE CONTACT:
Tethys Petroleum Limited
Sabin Rossi
Vice President Investor Relations
[e-mail]

[texas2]

Schnauze voll von Dr. RobSome

TETHYS PETROLEUM LIMITED: SHAREHOLDER REQUISITION OF EXTRAORDINARY GENERAL MEETING

10/20/2014
GRAND CAYMAN, CAYMAN ISLANDS--(Marketwired - Oct. 20, 2014) - Tethys Petroleum Limited ("Tethys" or the "Company") (TSX:TPL) (LSE:TPL) announces that its board of directors has received a requisition from Pope Asset Management LLC (the "Proposing Shareholder") to call an Extraordinary General Meeting of the Company ("EGM"). The Proposing Shareholder has notified the Company that it owns approximately 17.3% of the shares of common stock of the Company on behalf of its clients, a sufficient proportion of shares to be able to requisition an EGM under Article 35 of the Articles of Association of the Company.

The Proposing Shareholder is seeking to requisition an EGM to consider and vote on resolutions to remove the majority of directors of the Company (being all of the directors except for Julian Hammond, Marcus Rhodes and James Rawls) and to appoint David Botting, David Roberts, John Bell and David Henderson as directors of the Company. In connection with the requisition, the Proposing Shareholder is also requesting a resolution to amend the Articles of Association of the Company to remove Article 68.

The unanimous view of the Board is that the proposed director changes ARE NOT in the best interests of the Company and could seriously jeopardise the development of the business.

The Company announced on September 16, 2014 details of steps it is taking to address concerns raised by major shareholders of the Company following the most recent Annual General Meeting, including the proposed appointment of a new independent Non Executive Director and the implementation of a Change Agenda in order to better focus the Company on its objectives and streamline management structures and overall costs.

However, the Company remains committed to considering the views of its major shareholders and is currently considering this request. On the basis that this requisition is not withdrawn, management intends to provide shareholders with a notice of EGM and more information by way of a Management Information Circular ("MIC") in advance of the meeting. Shareholders should read the MIC carefully before reaching a decision with regard to their votes. A further announcement will be made in due course.

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.

This press release contains "forward-looking information". Such forward-looking statements reflect our current views with respect to future events and are subject to certain assumptions. See our Annual Information Form for the year ended December 31, 2013 for a description of risks and uncertainties relevant to our business, including our exploration activities. The "forward looking statements" contained herein speak only as of the date of this press release and, unless required by applicable law, the Company undertakes no obligation to publicly update or revise such information, whether as a result of new information, future events or otherwise.


FOR FURTHER INFORMATION PLEASE CONTACT:
Tethys Petroleum Limited
Sabin Rossi
Vice President Investor Relations
[e-mail]


Media / IR Enquiries
Asia Pacific
Quam IR:
Anita Wan
[phone]


[e-mail]
Web: http://www.tethyspetroleum.com
Twitter: https://twitter.com/tethyspetrol


Harriet Dennys By Harriet Dennys, City Diary Editor5:35PM BST 24 Oct 2014 Comments5 Comments
Diary understands why shareholder revolt is welling up at Tethys Petroleum, after major investor Pope Asset Management this week called for the removal of “the majority of directors” from the Kazakhstan-focused oil company's nine-strong board.
Last year, for example, the energy company’s “administration” costs of $18.7m (£11.7m) were even bigger than its losses of $17.6m, thanks to spending that included $8.7m on staff expenses, $3.1m on travel, and a mysterious $2.1m on “other”.
But that didn’t seem to concern the Tethys compensation committee, overseen by non-executive directors Peter Lilley MP and Piers Johnson. According to the 2013 annual report, the company’s “key management personnel” were paid a combined $6.17m in salary and shares over the year to December 31 last year.
Digging deeper still into the finances of Cayman islands-domiciled Tethys, Diary learns that Oilfield Production Consultants, where Mr Johnson is a founding director, was paid fees of $111,284 from Tethys in 2013.
Meanwhile, Vazon Energy, a offshore company wholly owned by Tethys chairman Dr David Robson, charged the company $1.3m for its services, and Khalilzad Associates, an international consultancy run by Tethys director Ambassador Zalmay Khalilzad, presented a bill for $96,440 for “business development”.
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Could it perhaps be time for Dr Robson, who employs a “close family member” at the company, to take his medicine, as irate investors demand?

[texas2]

Antwort auf Beitrag Nr.: 48.127.559 von texas2 am 24.10.14 20:00:28

Das Ausräubern wird jetzt hoffentlich weniger, aber dafür fehlt jetzt wahrscheinlich die Schlitzohrigkeit, die man wahrscheinlich besitzen muss, wenn man im E&P erfolgreich sein will in den StanLändern


GRAND CAYMAN, CAYMAN ISLANDS--(Marketwired - Nov. 4, 2014) - Tethys Petroleum Limited ("Tethys" or the "Company") (TSX:TPL)(LSE:TPL) today announced that Dr. David Robson and Liz Landles have resigned from the Board of Directors of the Company, with immediate effect.

Dr. David Robson said: "It is with regret that, in the interests of the Company, I feel compelled to step down from the Board of Tethys Petroleum Limited as a director. I have been a director of the Company since its creation in 2003 and, for the last 11 years, I have worked my hardest to build a successful business and I believe that we have a very effective oil and gas exploration and production company working in Central Asia and the Caucasus with some notable firsts and with enormous potential. Our team has a very high reputation in the area both for good exploration success and for our professional approach to business and we are very well respected as a highly competent oil and gas operator. I wish the staff and the Company well for the future and hope that it can further develop its business from the solid and diverse platform we have created."

Rt. Hon Peter Lilley MP, Vice Chairman of the Board commented: "It is difficult to overstate the contribution David Robson has made in building Tethys Petroleum into the company it is today. It is his vision, energy and leadership that have built Tethys into a successful oil and gas exploration and production company. His immense experience of the oil and gas business and tireless enthusiasm have been an inspiration for the Tethys team as it has grown from owning a single stranded gas field in Kazakhstan to being an oil and gas exploration and production company operating in several countries and in Tajikistan the respected partner of two of the largest oil companies in the world. David's leadership has been essential in this growth and he leaves behind a strong business where he will be greatly missed by his friends and colleagues. We all wish him well for the future."

"Liz Landles was one of the founders of Tethys Petroleum and has played a pivotal role in making the Company into what it is today. Her professionalism and dedication have been an inspiration to the Tethys team and she too will be missed by friends and colleagues. We wish her every success in the future."

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.

This press release contains "forward-looking information". Such forward-looking statements reflect our current views with respect to future events and are subject to certain assumptions. See our Annual Information Form for the year ended December 31, 2013 for a description of risks and uncertainties relevant to our business, including our exploration activities. The "forward looking statements" contained herein speak only as of the date of this press release and, unless required by applicable law, the Company undertakes no obligation to publicly update or revise such information, whether as a result of new information, future events or otherwise.

Tethys Petroleum Limited
Sabin Rossi
Vice President Investor Relations
[e-mail]

[e-mail]
Web: http://www.tethyspetroleum.com
Twitter: https://twitter.com/tethyspetroleum

Marketwired (Canada)
November 4, 2014 - 11:55 PM EST

[texas2]

Q3 Update
The Q3 filings tell an interesting story and encouragingly seem to me to be the most transparent TPL have ever posted.

They illustrate the precarious situation brought about by excessive spending and imprudent use of shareholder funds. The BoD should surely have been focusing on maintaining our share of the Bokhtar 'jewel in the crown' by maximising short-term production and careful cashflow management. Instead, the questionable Georgia investment and wholly predictable delays in the Kazahk governmental approval for the Sinohan deal created the very real possibility of a desperate cash-call or significant dilution of the company's stake in the JV.

As an aside, it's fascinating to note that while some directors have received interest-free loans totalling $617k ("provided for upfront accommodation costs, as is common in Dubai"), some have also benefited from making sizeable loans to the company paying interest at over 14%. Sadly, despite these generous financial perks, none chose to invest by buying meaningful shares in the company that has looked after them so well.

At least the picture is now clear and with the prospect of a new team at the helm I expect to see improved financial and strategic performance with a focus on the producing Kazahk assets and protecting our 28.5% stake in the Bokhtar project - if TOTAL are very keen and the Chinese are already building pipelines ahead of the complete seismic results (let alone an actual drill) then clearly the probabilities of success are seen as high by some of the biggest and best-informed operators on the planet.

I'd also like to see a dramatic improvement in corporate governance - the Articles of Association which enabled this activity make alarming reading and should be amended to respect and protect the rights of the actual owners of the company - its shareholders.

With the EGM announcement imminent and news expected soon on gas pricing /contracts and (at some point) the Sinohan deal, this looks like an intriguing turnaround play to me.


Read more at http://www.stockhouse.com/companies/bullboard/t.tpl/tethys-p…

[texas2]

Antwort auf Beitrag Nr.: 48.343.738 von texas2 am 17.11.14 20:38:46

dann hoffen wir dass der neue Besen auch wirklich besser kehrt


TETHYS PETROLEUM LIMITED: CORPORATE UPDATE

12/01/2014
GRAND CAYMAN, CAYMAN ISLANDS--(Marketwired - Dec. 1, 2014) - Tethys Petroleum Limited ("Tethys" or the "Company" (TSX:TPL) (LSE:TPL)) is pleased to provide an update to our shareholders on the current operations, forward plans and the strategic focus of the Company over the next 12 months.

Following the appointment of the new Executive Chairman, Mr. John Bell, and three new Non-Executive Directors of the Company, the Company believes that the Board of Directors (the "Board") has been strengthened and there is now a good balance between those long serving Directors and the fresh perspective of its new Directors. The Board is committed to operate at the highest level of integrity and transparency in order to govern the Company effectively.

The Board believes there is a significant value gap between the current share price and the net asset value of the business. A strategy to close this gap is outlined below; the Board believes that by executing this strategy over the coming weeks, months, and years, it can increase the intrinsic value of the assets, grow revenues, and importantly, bring confidence to shareholders.

Cost Reductions

The Company has made immediate strategic changes to streamline the organization in the most practical way possible, and without compromising safe, reliable operations. The Board has already commenced an aggressive downsizing program with significant staff reductions and cost reductions in all key G&A areas. It is forecast that those already identified cost reductions will progressively reduce the total for G&A, capitalised corporate costs and Business Development Costs from approximately US$23 million in 2014 to a target of approximately US$15 million in 2015. In addition the Company will be closing the Dubai, Washington and Toronto offices as soon as is practical. Management is currently working on further reductions in addition to those mentioned above and regular updates will be provided on the progress that is being made in all areas in due course. The Board has directed management to have a more focussed management structure with a principle focus on cost efficiency and greater accountability for the performance of our oil and gas operations.

Assets Overview

Kazakhstan

In Kazakhstan, the Company is currently producing oil and gas comprising approximately 2,400 barrels of oil per day ("bopd") and 260 thousand cubic metres per day (mcm/day) of gas. In September 2013, SinoHan Oil & Gas Investment 6 B.V. ("SinoHan"), a part of HanHong, made an offer to purchase 50% plus one share of the Company's Kazakhstan assets. The Company expects that the Kazakh State will have completed its due diligence in Q1 2015 at which point the Company can then complete the SinoHan transaction. Upon completion of the transaction, Tethys will receive approximately US$71 million in cash with SinoHan also obligated to fund the first US$9 million (as of Sep 30th 2014) of the forward work program. This deal is subject to the receipt of final government consents and possible pre-emption by the State under Article 36 of Kazakh law that would require the State to match the offer.

While the closing date is uncertain, SinoHan released US$3.88 million from escrow to progress the Kazakh operations and as previously announced has extended the agreement by six months to facilitate the due diligence by the State. The Board believes this transaction is in the best interest of the Company by providing cash liquidity for further project development and brings in a funding partner to fully develop our Kazakh asset base.

The SinoHan transaction alone values the Kazakhstan assets at US$150 million (plus upside potential bonuses); this equates to 27 pence a share (CDN$0.48) as compared to the current share price of 14 pence (CDN$0.26) for Tethys Petroleum Limited.

Even without the proceeds from the SinoHan transaction, the Company expects significant cash flow increases in the coming months from the sale of its gas production as a result of anticipated greater production and increased prices as described below.

The Company plans to double the current gas production by Q1 2015 at which point it will be able to inform the market of plans with further increases expected in Q2 2015. The negotiations for a new 2015 gas contract are progressing well and the Company expects to be able to announce later this month a price significantly higher than the current price of US$53/mcm. Further investment on increasing oil and gas production from these levels is dependent on the timing of funding from the completion of the SinoHan transaction.

The Board believes the SinoHan transaction is a good option with which to develop this project. However, even without this option, the Board believes that with the new shallow gas production and the anticipated higher gas price that the business also is very attractive as a stand-alone asset and provides solid cash flow with exciting exploration upside.

Strategically the Kazakhstan asset has good production but historically revenues have been limited by low oil and gas price realisation. The Board will put greater focus on this area to increase revenues and to achieve greater product price realisation for both going forward. The new gas contract for 2015 gas should demonstrate the Company is moving in the right direction in this important area.

As well as oil and gas production the Company believes that there is exciting exploration prospectivity within the Kazakhstan acreage. Tethys' early mover advantage in the North Ustyurt basin means that we have an established project with oil and gas infrastructure built over many years in an underexplored area where companies such as Total S.A. have recently picked up adjacent exploration acreage and are soon to commence drilling. The Klymene exploration prospect offers the potential of 422 million barrels of gross unrisked mean prospective recoverable resources and the Company sees this as the key focus for exploration in 2015.

Tajikistan

The Board believes that the project in Tajikistan offers world-class exploration potential, in partnership with Total Exploration and Production SA and China National Petroleum Corporation. This is a Production Sharing Contract over a large acreage position, with exceptional commercial terms, in a country bordering China. Hydrocarbon resources are of strategic interest to China, which is currently investing significantly on in country infrastructure including a new gas pipeline capable of transiting any gas discovered by the Company in the country.

This project will require significant additional capital over the next few years and the Board will ensure that the Company retains a material interest in this project at the same time as ensuring it is financed in the most optimal way. The Board believes that we can farm down part of this interest in order to receive immediate consideration and also to offset part of this large funding requirement going forward. This will result in a more manageable equity stake that is still material so that any success will have a significant impact on the value of the Company. The Board feels this strategy is the most prudent way to maintain meaningful exposure to these world-class assets and to stay in alliance with the two large and well-funded companies we are currently partnered with.

The Bokhtar Operating Company ("BOC") has commenced Phase 1 (of 2) of the wide line seismic programme and currently expects to complete all 826kms of Phase 1 in 2015. This Phase concentrates on the northern half of the PSC, and in particular the Obigarm highlands which is considered prospective for deep gas on all other geoscience studies which are ongoing. Phase 2 will be completed in Q4 2015. The seismic processing and interpretation will be completed in batches throughout 2015 so that sub salt maps are available in Q4 2015. Tethys and its two JV partners aim to have agreed a preferred first drilling location based on mapping in H2 2015.

Georgia

In early January 2014 the Company entered into a partnership with Georgian Oil and Gas ("GOG"), and acquired a 56% interest (GOG 44%) of Blocks XIA, XIM and XIN in Georgia with Tethys being the Operator of all these PSC's. Currently the Company is in discussions with its partner to offset its current funding obligations of approximately US$5 million through reducing its interest in these projects. This would provide time to carry out a thorough and planned farm out process in order to maximize this asset's value. The Board believes this asset has good potential, with excellent terms, but with limited capital available and funds required in its core assets of Kazakhstan and Tajikistan, it does not wish to commit any more significant capital to the Georgian projects.

New Executive Chairman

John Bell, Executive Chairman, commented, "I would like to take this opportunity to introduce myself to all the Shareholders of Tethys Petroleum Limited and to strongly reinforce that the new Board and I see our main directive is to serve the shareholders of the Company and ensure that we make decisions that maximize the returns for the owners of our Company. We will do this through diligent corporate governance and transparency, and ensure that the oversight the Board provides will direct the senior management of the Company in the most effective way possible.

Before I talk about the high quality assets I would like to mention our cost base. We have responded quickly and purposefully to major shareholder concerns that the G&A is too high for a Company such as Tethys. The new Board of Directors was elected less than two weeks ago and myself less than one week ago as Executive Chairman, and we have already clearly identified a cost cutting program to reduce the overheads by approximately 35% from 2014 to 2015. I can assure shareholders that we will look at further reductions on top of this figure but I am sure you will agree this is a significant reduction identified in a very short time since the Board changes. This is one example of our new approach to running the business where the fundamental principle of efficient allocation of capital is applied to every aspect of the business.

I am excited and enthused at the opportunity I see with Tethys and its assets. Starting with Kazakhstan and the growing gas market there and looking further forward, in capitalizing upon the immense gas demand of China, there is tremendous potential to grow revenues. I also see some exciting exploration prospects and through disciplined financing choices and efficient allocation of capital I believe the Company and shareholders can realize this potential effectively. I hope that the SinoHan transaction completes in a timely manner so as to realize these divestment funds and also to allow us to move forward with our new partners.

In Tajikistan we have first mover advantage and we are equal partners with two super majors, exploring in frontier areas with massive prospectivity. Tajikistan is truly a unique asset for a company of Tethys' size and the drilling of the first deep well will be an exciting event for the Company and Shareholders alike. We should soon see the first interpretations of the ongoing seismic program and I know our exploration team is greatly anticipating these initial results. I look forward to being able to realize the true value of these assets over the coming months and quarters.

In Georgia we have an attractive asset with good long-term potential. However our focus is very much on developing our assets in Kazakhstan and Tajikistan, therefore we will look at farming down or divesting these Georgian assets.

I believe that the Boards new approach to the business will provide a solid foundation to execute our strategy to generate value from these very high quality assets and to provide suitable returns to our shareholders."

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.

This press release contains "forward-looking information". Such forward-looking statements reflect our current views with respect to future events, including the impact of our cost cutting program, our expectation with respect to increases in gas production and in gas contract prices, the anticipated completion of the SinoHan transaction, our ability to realize consideration from the farm down of the Company's interest in the BOC and its Georgian assets, and the significant potential of exploration and discovered deposits. The forward-looking statements are based on the following assumptions: that we will be successful in our cost cutting program, that we will be successful in increasing gas production and achieve increased gas contract prices, that the approvals for the SinoHan transaction will be obtained by the end of March 2015, that, should we choose to farm down our interest in the BOC, we will receive immediate consideration and offset part of our funding requirements under the BOC on terms acceptable to the Company, and that we will be able to farm down our interest in our Georgian assets on terms acceptable to the Company . These forward-looking statements are subject to a number of risks and uncertainties, including the risk that our cost cutting program will be delayed or that it will not result in the reductions to our costs of the amounts set out in this press release, the risk that we will not be successful in increasing our gas production to the extent anticipated, the risk that the increase in the gas contract prices will be delayed, the risk that the SinoHan transaction will be delayed and the risk that the approvals therefor will be not be received, and the risk that the terms offered for any farm down of our interest under the BOC or Georgian assets will not be attractive to the Company. See our Annual Information Form for the year ended December 31, 2013 for a description of risks and uncertainties relevant to our business, including our exploration activities. The "forward looking statements" contained herein speak only as of the date of this press release and, unless required by applicable law, the Company undertakes no obligation to publicly update or revise such information, whether as a result of new information, future events or otherwise.

The references in this press release to "Prospective Recoverable Resources" means those quantities of petroleum estimated as at January 15, 2014 to be potentially recoverable from undiscovered accumulations by application of future exploration and development projects. Prospective resources have both an associated chance of discovery and a chance of development. There is no certainty that any portion of these resources will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of these resources. The product types that may reasonably be expected from potential production consist of oil, condensate, natural gas and associated gas.

The resource estimates contained or referred to are estimates only and are not meant to provide a determination as to the volume or value of hydrocarbons attributable to any prospect. There are numerous uncertainties inherent in estimating quantities of resources and cash flows that may be derived, including many factors that are beyond the control of the Company. The following is a non-exhaustive list of factors which may have a significant impact on the above estimates of prospective resources: despite the classification that they are as yet undiscovered but may be potentially recoverable the Company may be unable to carry out the development or their potential recovery; the activity may not be economically viable; the Company may not have sufficient capital or time to develop them; there may be no market or transportation routes for the potential production; legal, contractual, environmental and governmental concerns might not allow for the recovery being undertaken; reservoir characteristics might prevent recovery.

The Company's interest in the Klymene prospect is described in the Annual Information Form dated March 31, 2014 available on sedar.com.

Natural gas volumes have been converted to oil equivalence at 6 Mcf:l bbl (170 cm: 1bbl). The term boe may be misleading, particularly if used in isolation. A boe conversion ratio of 6 Mcf:l bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.


FOR FURTHER INFORMATION PLEASE CONTACT:
Tethys Petroleum Limited
Sabin Rossi
Vice President Investor Relations
[e-mail]


[e-mail]

Web: http://www.tethyspetroleum.com
Twitter: https://twitter.com/tethyspetroleum




Source: Tethys Petroleum Limited

[texas2]

Antwort auf Beitrag Nr.: 48.476.594 von texas2 am 02.12.14 22:16:01

"MOU signed with PetroChina"
GRAND CAYMAN, CAYMAN ISLANDS--(Marketwired - March 2, 2015) - Tethys Petroleum Limited ("Tethys" or the "Company") (TSX:TPL) (LSE:TPL) is pleased to announce that it has signed a Memorandum of Understanding ("MOU") with PetroChina International Kazakhstan Ltd ("PetroChina") and also provide a corporate update to our shareholders.

Highlights:

Updated vision and strategy announced focussed on capital discipline, the generation of cash flow from existing reserves and maturing exploration acreage
MOU signed with PetroChina to explore the feasibility of a long-term and mutually beneficial cooperation in natural gas and crude oil deliveries
Tajikistan 2015 exploration budget reduced by nearly a third
Proceeds of US$6 million loan facility received
Restructuring agreement with Georgian Oil and Gas completed, removing current funding obligations of approximately US$4million
In Kazakhstan work is about to commence on the AKK14 and AKK05 workovers which are anticipated to be brought on stream in Q2 2015 and increase production to a planned level above 570 mcm/day
Sales oil price agreed at the well head of US$13/barrel for January and February 2015
An updated corporate presentation is now available on the Company's website www.tethyspetroleum.com
John Bell, Executive Chairman of Tethys, said: "I am happy to present the strategy and vision of Tethys under the new direction of myself and the Board. The signing of the MOU with PetroChina is another key step toward selling gas into the growing Chinese market and follows on from our recently published new independent reserve report stating an increase in our reserves in all categories. The current oil price environment continues to deliver new challenges for Tethys, as it does for the whole oil and gas industry. We have made a number of positive changes, extensively reducing our costs and also diversifying our revenue stream through our increase in production and pricing for gas. This provides some flexibility in these difficult times but the oil price environment remains volatile. The receipt of the loan funds provides important working capital for the Company until the expected completion of the Sinohan transaction which will recapitalize the Company. We look forward to updating our shareholders on our ongoing progress."

Strategy and Vision

Tethys Petroleum's vision is to become the leading independent E&P Company in Central Asia, by exercising capital discipline, by generating cash flow from existing discoveries and by maturing large exploration prospects within our highly-attractive frontier acreage.

Tethys' strategy is to:

Be recognized as an ethically-responsible, transparent company, delivering safe, reliable, operations through a culture of safety & performance related delivery.
Focus on cost structures and capital efficiency - actively manage our portfolio by farming down / reducing our capital commitment whilst retaining materiality
Increase production, revenue and cash flow from existing discovered reserves and monetize low risk gas and oil prospects
Explore for 'elephant' prospects with 'company making' potential within existing acreage
Ultimately look to supply the growing energy demand of China
Combine international technical and management expertise with a strong local team
MOU signed with PetroChina

Tethys Kazakhstan SA, a subsidiary of Tethys Petroleum Ltd, has signed an MOU with PetroChina International Kazakhstan Ltd to explore the feasibility of a long-term and mutually beneficial cooperation in natural gas and crude oil deliveries. The main collaboration area to be explored by the parties is the proposed delivery of gas and crude oil for export to The People's Republic of China, and also for the internal market of the Republic of Kazakhstan. Tethys has the right to export gas to China already and can sell oil on the domestic market currently, obtaining the right to export oil upon conversion of the Akkulka Exploration Contract to a Production Contract.

Tajikistan Costs Reductions

The Company and its Joint Venture partners CNPC and Total in the Tajik Bokhtar PSC, have recently agreed to reduce this year's exploration budget by nearly a third through overhead cost reductions, a well-balanced selection of seismic acquisition parameters, and optimized timing of pre drilling costs in the current drilling contractor market. The previously agreed 2015 budget included a commitment for Kulob Petroleum Limited (the Contractor party of Tethys) to fund a total of up to US$24 million in 2015. This number has now been reduced to c. US$15 million with two-thirds of this total forecast to be due in H2 2015.

These cost reductions have not affected the progress towards completion of the seismic survey aimed at locating the first deep exploration well planned for this acreage. As well as the reduction in the CAPEX program the joint venture partners have agreed to reduce the running costs of the Bokhtar Operating Company to reflect the lower oil price environment. Initial reductions have been formally agreed and Tethys believes there is room for additional cuts going forward.

US$6 million Loan Financing Closed

The Company confirms that it received funds on time for the recently announced US$6 million loan facility. The warrants associated with this financing have also been issued.

Georgia

The Company has now signed an agreement with its partner, Georgian Oil and Gas ("GOG"), to remove its current funding obligations of approximately US$4 million under the farm-out agreement signed in July 2013, through reducing its interest in these projects. Under the terms of the new agreement Tethys will reduce its interest to 49% (from 56%) and GOG will become Operator on the licences on Blocks XIA, XIM and XIN. In tandem with this, the partners have begun to renegotiate a more efficient new work program with the State in place of the existing work obligations and deadlines.

Kazakhstan

Gas production levels remain on target with the production level recently doubling from 2014 levels to 520mcm/day (18.4 mmcf/day or 3,060 boe/day). Work is about to commence on the AKK14 well, followed by the AKK05 well, with these being planned to be brought on stream in Q2. These additional wells along with compressor optimization are anticipated to further increase the production level above 570 mcm/day.

Following on from the expected fall in realized oil prices for Q1 2015 the Company confirms that it has agreed a sales oil price at the well head of US$13/barrel for January and February 2015. This is in line with similar recently reported realized prices by other Kazakh oil and gas companies. It is expected that these lower prices will continue to the end of the first quarter. These reduced price levels have less impact in the first quarter than other months due to lower forecast production levels as a result of winter weather. The forecast oil production for February and March is 1,130 bopd and 740 bopd respectively. The Company expects production to go back to over 2,000 bopd in May. Also, the Company is currently less reliant on oil sales than in the past due to the increase in gas volumes and pricing in early 2015, a trend the Company expects to continue in the short-term.

New Corporate Presentation

Tethys is pleased to announce that an updated corporate presentation is available on the Tethys website in the Investor Relations section. This is the first published presentation since the recent Board changes.

Website www.tethyspetroleum.com

About Tethys Petroleum:

Tethys Petroleum's aim is to become the leading Independent E&P Company in Central Asia, by exercising capital discipline, by generating cash flow from existing discoveries and by maturing large exploration prospects within our highly-attractive frontier acreage.

This press release contains "forward-looking information" which may include, but is not limited to, statements with respect to the reduction of operating and capital expenditures, the proposed delivery of gas and crude oil to The People's Republic of China, the continued increase in gas volumes as well as plans for 2015 and the expected completion of the Sinohan transaction. Such forward-looking statements reflect our current views with respect to future events, including the farm-down of the Company's Georgian asset, the impact of the recent severe fall in world-oil prices on the Company, and the significant potential of exploration and discovered deposits. The forward looking statements are based on the following assumptions; that the Company will be able to successfully reduce its operating and capital expenditures, that in the short-term the Company will be less reliant on oil sales than in the past due to the recent increase in gas volumes, that gas volumes produced by the Company will continue to grow and that the Sinohan transaction will complete as expected. These forward looking statements are subject to a number of risks and uncertainties, including the risk that negotiations over a new work program with the Georgian State are unsuccessful, that the Company will be more reliant on oil sales in the near term and that the severe fall in world oil prices will have a greater impact on the Company than anticipated, that gas production will not increase as anticipated, that the cost cutting program will be delayed or that it will not result in the reductions to our costs, that the Company will not be successful in negotiating binding terms for the export of gas and oil to The People's Republic of China and that the Sinohan transaction will not complete as expected. See our Annual Information Form for the year ended December 31, 2013 for a description of risks and uncertainties relevant to our business, including our exploration activities. The "forward looking statements" contained herein speak only as of the date of this press release and, unless required by applicable law, the Company undertakes no obligation to publicly update or revise such information, whether as a result of new information, future events or otherwise.

Tethys Investor Relations
Sabin Rossi
Vice President Investor Relations
Tethys Petroleum
[e-mail]

Tethys Petroleum
[e-mail]
Web: http://www.tethyspetroleum.com
Twitter: https://twitter.com/tethyspetroleum


Read more at http://www.stockhouse.com/news/press-releases/2015/03/02/tet…

[texas2]

Antwort auf Beitrag Nr.: 48.476.594 von texas2 am 02.12.14 22:16:01

GRAND CAYMAN, CAYMAN ISLANDS--(Marketwired - Feb. 27, 2015) - Tethys, (TSX:TPL) (LSE:TPL) the exploration and production Company focussed on Central Asia, is delighted to announce the result of an updated Independent Reserves Report, which has been prepared by Gustavson Associates with an effective date of December 31, 2014. The report meets the expectations of the Canadian Oil and Gas Evaluation Handbook in accordance with the requirements of National Instrument 51-101, Standards of Disclosure for Oil and Gas Activities of the Canadian Securities Administrators.

Highlights

Production of 0.84 million barrels of oil (MMbbl) and 4.07 billion standard cubic feet of total gas (BCF) in 2014
Increase in remaining gross reserves(1) in all three categories at December 31st 2014 over December 31st 2013
Proven reserves (1P) of 16.62 million barrels of oil equivalent (BOE), up 18% from 2013, represents the highest volume in the history of the company in this reserves category
Reserves Replacement Ratio (RRR) of 163% for the 1P category
Proven and probable reserves (2P) of 27.08 million BOE, up 7% from 2013
Reserve increases driven by the successful 2014 gas well development drilling program, and production performance above 2013 expectations
Details

The table below shows details of the gross oil reserves, gas reserves, BOE(2), and percentage increase for each of the reserves categories.

Reserves Category Gross Oil
(MMbbl) Gross Gas
(Bcf) Gross BOE
(MMbbl) Increase from 31st Dec. 2013
Proved (1P) 6.56 60.36 16.62 18%
Proved+Probable (2P) 12.36 88.29 27.08 7%
Proved+Probable+Possible (3P)* 20.55 124.56 41.31 2%

1 "Gross" in this context represents a 100% Tethys Working Interest share before application of Kazakhstan Mineral Extraction Tax (MET)
2 Standard cubic feet of natural gas are converted to barrels of oil equivalent (BOE) using a factor of 6,000 scf per 1 BOE.
The 16.62 million BOE of proven reserves is a new peak in this category in the company's history, while the 2P and 3P amounts are the second highest volumes recorded. Proved reserves now comprise 40% of total reserves, even after a cumulative production of 9.54 million BOE from the start of gas production in December 2007 to 31st December 2014.

The RRR of 163% for the 1P category indicates strong organic growth. The breakdown shows an increase of 0.66 MMbbls and 10.92 BCF in the oil and gas respectively over and above the 2014 production of 0.84 MMbbls of oil and 4.07 BCF total gas production.

The increases have been realised through a combination of the successful 2014 gas well development drilling program, and improved production performance in existing gas and oil fields.

The Net Present Value (NPV) 10% After Tax totals are shown in the table below

Reserves Category NPV10
(US$ MM) After Tax Decrease from 31st Dec. 2013
Proved (1P) 108.30 16%
Proved+Probable (2P) 185.86 28%
Proved+Probable+Possible (3P)* 287.13 29%
The calculated reduction in NPV between the 2013 and 2014 reports is primarily attributable to the downward revision of assumption of product prices, and to the assumption that future oil contracts will have a lower percentage available for export than assumed in previous reports. The small volume of associated gas is assumed to be sold at domestic prices only, due to recent Kazakhstan legislation; however, dry gas is still planned to be 100% exported in the future. The reserves in this press release do not reflect the pending sale of 50% of the Kazakhstan assets, which remains subject to Kazakh State waiver. Possible reserves are those additional reserves that are less certain to be recovered than probable reserves. There is a 10% probability that the quantities actually recovered will equal or exceed the sum of proved plus probable plus possible reserves.

Comment

David Roberts, chairman of the Reserves Committee, commented: "The Reserves Committee is very satisfied with the results contained in the annual independent review by Gustavson Associates, delivered earlier than in previous years. The growth in booked reserves is a reflection of excellent work in prospect maturation by the Tethys exploration team led by its Vice President Rosemary Johnson-Sabine OBE, and our Kazakhstan field operations staff under the stewardship of the Chief Operating Officer, Graham Wall.

Tethys' plans for 2015 include the maturation of exploration prospects, monetizing gas prospects through development drilling, and increased focus on field equipment reliability. We look forward to building on the figures in the Gustavson report during 2015, and with the reserves update concluded, we intend to issue a new corporate presentation in the coming days."

Notes to Editors

The reserve report was prepared in full accordance with the requirements of National Instrument 51-101, Standards of Disclosure for Oil and Gas Activities of the Canadian Securities Administrators. The Company anticipates filing its Annual Information Form that includes more detailed disclosure and reports relating to petroleum and natural gas activities for the 2014 fiscal year at the end of March 2015. Both oil and gas reserves are based on availability of sufficient funding to allow development of the known accumulations.

A boe conversion ratio of 6,000 scf to 1boe is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. The use of "total gas" indicates the combined volume of both the (predominantly) sales gas and fuel gas from the dry gas fields and the small amount of flared gas from the Doris oilfield under the Pilot Production Project. All monetary values are in millions (MM) of US Dollars. Note that reserve replacement ratio is calculated by calculating the difference between this year's 1P reserve estimate and last year's 1P reserve estimate, and dividing that quantity by the 2014 production, all in barrels of oil equivalent.

About Tethys

Tethys is focused on oil and gas exploration and production activities in Central Asia and the Caucasus with activities currently in the Republics of Kazakhstan, Tajikistan and Georgia. This highly prolific oil and gas area is rapidly developing and Tethys believes that significant potential exists in both exploration and in discovered deposits.

This press release contains "forward-looking information" which may include, but is not limited to, statements with respect to our operations, exploration programme and new Reserve Report as well as plans for 2015. Such forward-looking statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions including the assumption that Tethys' 2015 development drilling programme will meet expectations, and the risk that such drilling programme will not meet expectations. See also our Annual Information Form for the year ended December 31, 2013 for a description of risks and uncertainties relevant to our business, including our exploration and development activities.

About Gustavson Associates

Gustavson Associates is an oil, gas, and mining consulting firm with over 30 years of extensive international experience. The team consists of geologists, engineers, economists, and appraisers who serve organizations and individuals around the world - including mining companies, oil and gas companies, governments, international banks and financial institutions, project financiers, stock exchanges, international law firms, and individual property owners.

www.gustavson.com

Tethys Investor Relations
Sabin Rossi
Vice President Investor Relations
Tethys Petroleum Limited
[e-mail]

[e-mail]
Web: http://www.tethyspetroleum.com
Twitter: https://twitter.com/tethyspetroleum

Billy Clegg / Georgia Mann
CAMARCO
[phone]
image: http://at.marketwire.com/accesstracking/AccessTrackingLogSer…


Marketwired (Canada)

Read more at http://www.stockhouse.com/news/press-releases/2015/02/27/tet…

[bricio7]

Tethys Petroleum Limited: US$3.5 Million Loan Agreement
GRAND CAYMAN, CAYMAN ISLANDS--(Marketwired - March 10, 2015) -

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.

Tethys Petroleum Limited ("Tethys" or the "Company") (TSX:TPL) (LSE:TPL) announces that it has entered into a US$3.5 million loan agreement with Annuity and Life Reassurance Ltd ("ALR"), an insurance company, the assets of which are managed by Pope Asset Management, LLC ("PAM"). PAM currently controls the voting rights over approximately 19% of the shares in the Company. Having considered a variety of funding alternatives, commercial terms, certainty and execution risk and, ultimately, the relative cost of capital to shareholders, the Board of Directors of the Company has decided that it is in the best interests of the Company to proceed with this financing.

In a challenging oil price environment globally, and especially in Kazakhstan (where in January and February 2015, the selling price at the well head of oil fell to US$13/barrel), these new funds, combined with the loan for US$6 million on similar terms announced in January 2015, increased revenue from higher gas prices and volumes, and reduced G&A expenditure, will help to ensure the Company has sufficient financial flexibility and stability through to the expected completion of the Sinohan transaction which, as previously communicated to the market, has taken longer than originally expected to complete.

Financing details

The key terms of the loan agreement are:

• Financing: Unsecured loan facility
• Principal: US$3.5 million
• Term: 2 years
• Interest rate: 8% p.a.
• Warrants: 23,333,333
• Warrant price: C$0.19, a 15% premium to yesterday's closing market price of C$0.165
• Warrant term: 2 years from date of issue
• Lender: ALR
The principal of the loan is due to be re-paid at the end of two years from the date of issue with interest payments being made every six months. The loan agreement contains event of default and change of control provisions. The funds are due to the Company as soon as practicable upon the fulfillment of customary conditions, including receipt of TSX approval for the transaction.

Shareholder approval

Pursuant to the terms of the warrants to be issued in connection with the loan, in the event that the exercise of the warrants would result in ALR and its affiliates together with PAM exercising control or direction over 20% or more of the issued and outstanding ordinary shares of the Company, such exercise will be subject to approval of the shareholders of the Company excluding votes attached to the shares over which ALR or its affiliates or PAM exercises control or direction. The warrants do not contain a warrant surrender mechanism.

Sinohan transaction update

Tethys continues to await a decision by the Ministry of Energy of the Republic of Kazakhstan (the "MOE") to either pre-empt the transaction or to waive its right to do so. A decision from the MOE is expected shortly and should a waiver of the pre-emption right be granted it is anticipated that the MOE will then grant permission for the Sinohan farm-out transaction to proceed.

In the meantime, the Company continues to work towards obtaining certain other ancillary approvals required to satisfy conditions precedent to completion of the transaction. Should a waiver of the pre-emption right be received promptly from the MOE, the Company believes that it can obtain these approvals and satisfy the remaining conditions precedent to completion of the transaction prior to the 1 May 2015 extended longstop date. Further details of the conditions precedent to completion of the Sinohan transaction are contained in the share purchase agreement relating to the transaction, a copy of which has been filed on SEDAR.

John Bell, Executive Chairman, commented:

"The Company is very pleased to announce this loan financing which shows the on-going support from our largest investor while we continue to work hard towards the anticipated completion of the Sinohan transaction. We are expecting a prompt resolution of the pre-emption right waiver request submitted to the Ministry of Energy. This remains a key hurdle to completion of a farm-out transaction which will bring US$75 million of Chinese capital, and all the associated benefits of a large capital investment, to Kazakhstan."

About Tethys Petroleum

Tethys Petroleum's aim is to become the leading independent E&P Company in Central Asia, by exercising capital discipline, by generating cash flow from existing discoveries and by maturing large exploration prospects within our highly attractive frontier acreage.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to United States Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

This press release contains "forward-looking information" which may include, but is not limited to, statements with respect to fulfillment of customary conditions precedent and receipt of TSX approval for the financing, and the expected completion of the Sinohan transaction. Such forward-looking statements reflect our current views with respect to future events, including the fulfillment of customary conditions precedent and receipt of TSX approval for the financing, and the expected completion of the Sinohan transaction. The forward-looking statements are based on the following assumptions: that the fulfillment of customary conditions precedent and receipt of TSX approval for the financing will take place and that the Sinohan transaction will complete as expected. These forward-looking statements are subject to a number of risks and uncertainties, including the risk that the financing or the Sinohan transaction will not complete as expected. See our Annual Information Form for the year ended December 31, 2013 for a description of risks and uncertainties relevant to our business, including our exploration and development activities.

The "forward looking statements" contained herein speak only as of the date of this press release and, unless required by applicable law, the Company undertakes no obligation to publicly update or revise such information, whether as a result of new information, future events or otherwise.

Tethys Investor Relations
Sabin Rossi
Vice President Investor Relations
Tethys Petroleum
[e-mail]

Tethys Petroleum
[e-mail]
Web: http://www.tethyspetroleum.com
Twitter: https://twitter.com/tethyspetroleum

CAMARCO (Financial PR)
Billy Clegg / Georgia Mann
[phone]

[texas2]

Antwort auf Beitrag Nr.: 49.291.499 von bricio7 am 10.03.15 19:22:17

-45% Desaster und jetzt verstehen wir auch warum Thethys Geld aufgenommen hat:


04/10/2015
GRAND CAYMAN, CAYMAN ISLANDS--(Marketwired - April 10, 2015) - Tethys Petroleum Limited (TSX:TPL)(LSE:TPL) ("Tethys" or the "Company") has provided a corporate update to shareholders.

Highlights:


-- Q1 2015 gas production achieved was the highest quarterly gas volume in
the last three years.
-- First sales under the new gas contract completed.
-- Tethys continues to actively progress the SinoHan transaction to
completion through seeking to close the conditions precedent that are
required prior to concluding the transaction, including the Kazakhstan
Ministry of Energy's approval.
-- In parallel, the Company is proactively developing a number of strategic
options in the event the SinoHan transaction does not complete, with the
intention of considering all opportunities for maximising value for
shareholders.
-- US$3.5 million loan financing has now closed and funds have been
received in March.
-- New compelling prospective resource economics issued for Klymene in the
Kul-Bas Contract, Kazakhstan; and Karatau in Tajikistan.
-- Planned workovers of the AKK14 and AKK05 wells to commence shortly,
targeted at growing gas production.
-- Substantial operational and overhead cost reductions continue.
-- Currently conducting tenders and/or finalising contracts for drill
projects and 3D seismic in the Kyzyloi and Akkulka areas.
-- Seismic survey in Tajikistan now underway after winter break.
-- In Tajikistan, the Bokhtar Operating Company has started implementing
the recently agreed cost reductions.
-- Updated work programme agreed in Georgia.

John Bell, Executive Chairman, commented: "In a short time we have achieved some notable gains for the business including two key contract extensions, a higher gas price, the doubling of gas production, increased reserves in all categories, and intensive corporate cost cutting that has made us more efficient and better positioned to deal with the lower oil price environment. The positive financial effect of these will be seen for the first time in our Q1 2015 results to be delivered next month. We have also delivered on our gas production targets safely in Q1 and expect further increases to production when we bring additional wells on line.

We continue to work hard on progressing the SinoHan sale towards completion but we do not as yet have the Kazakhstan Ministry of Energy's approval for the transaction. Not only would this US$75million investment recapitalise the Company, it would retain and create jobs and increase international investment in Kazakhstan and in its growing oil and gas industry. We believe the benefits arising provide compelling rationale for the Ministry to provide approval.

If this transaction does not conclude we still have a 100% stake in highly attractive assets that have generated significant industry interest and ones I believe have substantial upside.

Looking to the future, this is an asset where we are continually increasing gas production adjacent to a newly constructed gas pipeline to China, which will soon become operational. We have additional prospects to drill which should further add to our production, in areas where we have had a very high exploration success rate to date, and where we grew independently-assessed reserves in 2014. We also have material oil exploration prospects across the rest of our portfolio, in particular the Klymene Prospect where we are targeting over 400 MMbbls of unrisked mean prospective resources with compelling economics.

The Company has a number of potential catalysts ahead to deliver shareholder value: the commencement of product sales into China next year, drilling of the Klymene exploration well, and completion of the farm down of one or more assets while maintaining a material interest and identifying the first prospect for drilling in a significant exploration portfolio."

SinoHan Transaction

On 1st November 2013 Tethys entered into a legally-binding exclusive agreement for the sale of 50% of its Kazakh oil & gas assets to SinoHan Oil and Gas Investment Number 6 B.V. ("SinoHan"), part of HanHong, a Beijing, PRC based private equity fund, for US$75 million. The Company has been actively progressing the completion of the conditions precedent ("CPs") that are required prior to concluding the SinoHan deal. However, the Company is still awaiting the Ministry of Energy's approval. This process commenced 13 months ago and with 3 weeks remaining until the Longstop date of 1st May 2015, there is the possibility that if approval is not received imminently, there would not be sufficient time to complete the final CPs under the agreement with SinoHan. As a result, the Company would not be able to conclude the US$75 million transaction for the sale of 50% of the Kazakhstan assets and will retain its 100% interest.

Current Financial Position

As previously disclosed in the event that the SinoHan transaction does not complete, the US$3.88 million deposit advanced by SinoHan in the form of a short term loan will become repayable within 10 days upon request by SinoHan. Furthermore, an amount of up to US$0.70 million would also be payable to SinoHan in the event that the CPs are not met or waived by the Longstop date and the Buyer has complied with its obligations.

Unless the Company obtains additional alternative funding, it will not be able to meet these obligations nor will it be able to meet its full contractual obligations under the Tajik Bokhtar Production Sharing Contract ("PSC") and Kazakh Exploration and Production Contracts. Further information was provided in Note 2 of the Company's recently published 2014 Consolidated Financial Statements.

The inability of the Company to access sufficient capital for its operations could have a material adverse impact on the Company's financial condition, results of operations, prospects and ability to continue as a going concern.

Alternative Plans

The Company has been proactively developing contingency plans should the SinoHan transaction not complete. The Company is actively reviewing a number of alternatives, including a further scale down of the business, an equity financing, a debt refinancing, and a sale or farm down of certain assets. The Company's review may also include possible business combinations. Although the Company has initiated a review of alternatives, there is no certainty that any transaction or alternative will be undertaken. The Company has not set a definitive schedule to complete its review and, notwithstanding the above-mentioned alternatives, no decision on any particular alternative has been reached at this time. The Company will update the market in due course on these alternative strategic initiatives. The Board of Directors of the Company intends to focus on courses of action that it believes will maximize shareholder value in the shortest time frame.

US$3.5 million Loan Financing Closed

The Company confirms that it has received funds on time for the recently announced US$3.5 million loan facility. The warrants associated with this financing have also been issued.

New Prospective Resource Economics

Gustavson Associates ("Gustavson") have completed, as of 7th April 2015 an economic evaluation of two example exploration resource prospects or leads, Klymene Prospect in the Kul-Bas Exploration and Production Contract, Kazakhstan; and Karatau Lead in the Bokhtar PSC, Tajikistan. Gustavson had previously completed an audit of these resource volumes, Klymene early in 2014 and Karatau in 2012, both in accordance with the reporting requirements of NI 51-101 adopted by Canadian securities regulatory authorities.

Klymene Prospect lies west of the current producing assets in Kazakhstan and is planned to be drilled this year with the KBD02 well (contingent on funding) to investigate 3 potential reservoirs, an Upper Aptian sand, the Lower Aptian (Doris style) sand, and the Upper Jurassic. Gustavson, in January 2014, ascribed an unrisked mean gross resource of 422mmbbls to this prospect. Given their latest audit of product prices and a development scenario Gustavson have now calculated a total risked EMV of US$347 million net to Tethys and an IRR of 71.6%.

Karatau Lead is an example of a large prospect or lead at both subsalt Jurassic and Cretaceous sand level in the area of the current Tajik 2D seismic acquisition programme and thus stands as a possible current analogue for a drillable prospect for 2016. In the previous 2012 Gustavson Resources audit this lead was estimated to have an unrisked gross mean resource potential of 6.2 TCF of gas plus associated condensate liquids. This lead has been calculated by Gustavson to have an EMV of US$368 million net to Tethys and an IRR of 49%.

Kazakhstan Operations Update

In Kazakhstan Q1 2015, gas production on average was the highest gas volume achieved in the last three years with quarterly targets being met.

Gas production levels averaged 530 Mcm/day (18.7 MMcf/day or 3,121 boe/day). The planned workover of the AKK14 well will commence shortly, followed by the AKK05 well, these have been delayed due to recent wellsite access issues related to the annual spring break-up but they are planned to be brought on stream in Q2 2015 and along with the planned optimisation of the compressors it is anticipated to further increase the production level above 570 Mcm/day.

Oil production during Q1 totalled 1,195 bopd. Production was affected in February and early March by a backlog in the oil distribution system due the drop in oil pricing regionally, and by the expected effects of the spring break up in the second half of March. Forecast oil production for April is 1,101 bopd and the Company expects production to go back above 2,000 bopd in May.

Other activity in the past quarter has seen the granting of an unprecedented four year extension to the Akkulka Exploration Contract within which the Doris and Dione oil fields are located. Tethys subsidiary, TethysAralGas ("TAG") also received approval for the Akkulka shallow gas State reserves which will allow continuous production from the area and lead to an expansion of the Akkulka Production Contract. In addition, the final State commissioning of the new gas pipeline system and gas dehydration unit has been completed, both of which are functioning normally.

The Company is currently conducting tenders and/or finalising contracts for drill projects and 3D seismic in the Kyzyloi Production and Akkulka Exploration Contract areas respectively, as part of the ongoing shallow gas development programme, which will be implemented subject to funding.

Tajikistan

The Company and its Joint Venture partners in the Tajik Bokhtar PSC, Total and CNPC, have started to implement the recently agreed reduction of overhead and running costs aimed to reflect the lower oil price environment. Tethys believes there is still room for additional cuts going forward and intend to engage with partners to ensure cost-effective operations.

The seismic acquisition aimed at locating the first deep exploration well planned for this acreage has resumed after a winter stand-by period and parties are looking forward to receiving data on monthly basis. An innovative 3D passive seismic survey has also commenced. The associated magnetotellurics survey will also soon resume and associated geological studies are underway.

Georgia Work Program

The Company recently announced it signed an agreement with its partner, Georgian Oil and Gas ("GOG"), to remove its current funding obligations of approximately US$4 million under the farm-out agreement signed in July 2013, through reducing its interest in these projects. Under the terms of the new agreement Tethys has reduced its interest to 49% (from 56%) and Norio Operating Company ("NOC") is now the Operator through GOG, on the licences on Blocks XIA, XIM and XIN. In tandem with this, the partners have renegotiated a more efficient new work programme with the State firstly for block XIN, with similar improved forward programmes for blocks planned for XIA and XIM, subject to ratification. Through negotiations with the Georgian State, the existing work obligations and deadlines on all blocks are being standardised to allow for more cost efficient and thorough exploration; with drill or drop decisions put back until adequate technical data has been gathered. The Gravity acquisition programme for XIN has now commenced.

Website: www.tethyspetroleum.com

About Tethys Petroleum:

Tethys Petroleum's aim is to become the leading Independent E&P Company in Central Asia, by exercising capital discipline, by generating cash flow from existing discoveries and by maturing large exploration prospects within our highly-attractive frontier acreage.

The references in this press release to resources are to "Prospective Recoverable Resources" which means those quantities of petroleum estimated, to be potentially recoverable from undiscovered accumulations by application of future exploration and development projects. Prospective resources have both an associated chance of discovery and a chance of development. There is no certainty that any portion of these resources will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of these resources. The product types that may reasonably be expected from potential production consist of oil, condensate, natural gas and associated gas.

The resource estimates contained or referred to are estimates only and are not meant to provide a determination as to the volume or value of hydrocarbons attributable to Klymene Prospect and Karatau Lead. For both Klymene and Karatau the basis of the Expected Monetary Value (EMV) is the net Tethys working interest of the summated value of the Net Present Values 10% of all outcomes (including a failure case) multiplied by its Chance of Success, of that Prospect or Lead.

For Klymene Prospect the fiscal terms and oil pricing are as the NI 51-101 reserve report completed by Gustavson on Kazakhstan dated February 25th, 2015 and detailed in the AIF effective December 31, 2014.

For Karatau Lead fiscal terms are as per those published in the AIF and detailed in the Gustavson reserve report dated March 27, 2013. Product pricing was taken by Gustavson from 3rd party published information with an assumed discount for transport on the gas.

There are numerous uncertainties inherent in estimating quantities of resources and cash flows that may be derived, including many factors that are beyond the control of the Company. The following is a non-exhaustive list of factors which may have a significant impact on the above estimates of prospective resources: despite the classification that they are as yet undiscovered but may be potentially recoverable the Company may be unable to carry out the development or their potential recovery; the activity may not be economically viable; the Company may not have sufficient capital or time to develop them; there may be no market or transportation routes for the potential production; legal, contractual, environmental and governmental concerns might not allow for the recovery being undertaken; reservoir characteristics might prevent recovery. The recovery of the resources is subject to the following risks and uncertainties: market fluctuations, the proximity and capacity of oil and gas pipelines and processing equipment, government regulation, political issues, export issues, competing suppliers, operational issues (exploration, production, pricing, marketing and transportation), extensive controls and regulations imposed by various levels of government, lack of capital or income, the ability to drill productive wells at acceptable costs, the uncertainty of drilling operations, factors such as delays, accidents, adverse weather conditions, and the availability of drilling rigs and the delivery of equipment.

This press release contains "forward-looking information" which may include, but is not limited to, statements with respect to the completion of the SinoHan transaction, reduction of operating and capital expenditures, the positive financial effect of achievements being seen in our Q1 2015 results, the expectation that oil production will increase above 2,000 in May 2015, the commencement of gas sales to China via a new pipeline, the continued increase in gas volumes as well as plans for 2015, a strategic review and the mention of alternatives. Oil and gas prices are unstable and are subject to fluctuation. Any material decline in oil and/or natural gas prices could result in a reduction of the Company's net production revenue and overall value and could result in ceiling test write downs. In Kazakhstan, the Company had fixed (Tenge) price gas contracts up to the end of 2014. Subsequent to the year-end, the gas supply contract was re-negotiated and Tenge prices fixed through to December 31, 2015, although there is provision to meet to discuss potential re-pricing in the event of a devaluation exceeding 10%. However there is speculation that the Tenge will devalue in the near future and the amount of devaluation is not know at this time. Such forward-looking statements reflect our current views with respect to future events, including the completion of the Sinohan transaction, the success of achieving strategic alternatives (there can be no assurances that management will be successful with these alternatives). These circumstances indicate the existence of a material uncertainty related to events or conditions that may cast significant doubt about the Company's ability to continue as a going concern and accordingly, the appropriateness of the use of accounting principles applicable to a going concern. The forward looking statements are based on the following assumptions; that the Company will be able to successfully reduce its operating and capital expenditures, that positive financial effects of recent achievements will be seen in our Q1 2015 results, that oil production will increase above 2,000 in May 2015, that gas sales will commence to China via a new pipeline, that gas volumes produced by the Company will continue to grow and that the SinoHan transaction will complete, and that if the SinoHan transaction does not complete that a strategic transaction will be achieved. These forward looking statements are subject to a number of risks and uncertainties, including the risk that the SinoHan transaction will not complete, negotiations over a new work programme with the Georgian State are unsuccessful, that positive financial effects of recent achievements will not be seen in our Q1 2015 results, that oil production will not increase above 2,000 in May 2015, that gas sales will not commence to China via a new pipeline, that gas production will not increase as anticipated, that the cost cutting program will be delayed or that it will not result in the reductions to our costs, and that the alternatives to the SinoHan transaction are not achieved. See our Annual Information Form for the year ended December 31, 2014 for a description of risks and uncertainties relevant to our business, including our exploration activities. The "forward looking statements" contained herein speak only as of the date of this press release and, unless required by applicable law, the Company undertakes no obligation to publicly update or revise such information, whether as a result of new information, future events or otherwise.

About Gustavson Associates:

Gustavson Associates is an oil, gas, and mining consulting firm with over 30 years of extensive international experience.


FOR FURTHER INFORMATION PLEASE CONTACT:
Tethys Petroleum Limited
[e-mail]
Web: http://www.tethyspetroleum.com


CAMARCO (Financial PR)
Billy Clegg / Georgia Mann
[phone]

[texas2]

Antwort auf Beitrag Nr.: 49.546.874 von texas2 am 12.04.15 19:09:50

Wenn die Kasachen auf die Aktie abfahren, müsste der Kurs eigentlich steigen

Ordinary shares BE6277042758 (BE_TETH) of S.A TETHYS KAZAKHSTAN (Belgium) underwent listing on KASE by second category
/KASE, April 16, 15/ – Following a decision of Kazakhstan Stock Exchange (KASE)
Listing Commission dated April 15, 2015 ordinary shares BE6277042758 of
S.A TETHYS KAZAKHSTAN (Belgium) have been included in the second category of
KASE official list.

The Listing Commission decision's effective date will be announced additionally
after the issuer fulfills terms set in item 1 of Article 18 of KASE internal
document "Listing Rules".

Opening of KASE-based trading in these shares will also be announced
additionally.

The number of authorized ordinary shares of S.A TETHYS KAZAKHSTAN makes
100,001 piece.

BCC Invest – subsidiary organization of Bank CenterCredit JSC (Almaty) is
the financial advisor of S.A TETHYS KAZAKHSTAN.

The registrar of S.A TETHYS KAZAKHSTAN is Vistra Corporate Services (Belgium).

The said shares have been assigned abbreviation (trade code) BE_TETH.

Main activities of S.A TETHYS KAZAKHSTAN – include exploration, development and
production of crude oil and natural gas in Kazakhstan.

More details of the said shares issue will be published on KASE website once the
Listing Commission's decision becomes effective.

[2015-04-16]

[texas2]

Antwort auf Beitrag Nr.: 49.583.288 von texas2 am 16.04.15 21:21:08

Was man so alles findet im Internet

http://belfercenter.hks.harvard.edu/files/PAE%20Kurdistan.pd…

[texas2]

Antwort auf Beitrag Nr.: 49.583.990 von texas2 am 16.04.15 22:54:13

Falsche Firma. Dieser Link war eigentlich für einen kurdischen Oiler gedacht

[texas2]

Antwort auf Beitrag Nr.: 49.591.787 von texas2 am 17.04.15 19:21:35

Jetzt ist es endgültig raus: Weil die Kasachen nicht richtig mitgespielt haben, wollen die Chinesen überhaupt nicht mehr mitspielen und TPL muss dafür den Chinesen Geld überweisen

GRAND CAYMAN, CAYMAN ISLANDS--(Marketwired - May 1, 2015) - Tethys Petroleum Limited ("Tethys" or the "Company") (TPL.L)(TPL.L) today provides further details of the previously-announced strategic review, and a SinoHan Oil and Gas Investment Number 6 B.V. ("SinoHan") transaction update, to shareholders.

Highlights

A strategic review of the business which encompasses options including asset sales, farm-outs, financing, investments at the corporate level, or the sale of the Company is being conducted
Discussions are ongoing with a number of interested parties on all of these potential avenues
The sale of 50% of the Company's Kazakh oil and gas assets to SinoHan is not proceeding
Discussions with SinoHan have commenced on matters relating to the termination of the sale and purchase agreement
Corporate and regional overheads, and operational expenses, continue to be scrutinized and reduced during this period
Current production stands at 5,380 boe/d
Strategic Review

The Company has adopted a twin strategy in recent months: to diligently seek timely approval from the Ministry of Energy ("MoE") to allow completion of the condition precedents ("CPs") for the SinoHan transaction while simultaneously exploring alternative paths to value realization should the deal not complete.

During this period, the exclusivity term in the SinoHan farm out agreement has prevented the Company from actively marketing its attractive Kazakhstan assets to other potential partners, or seeking other solutions for these specific assets, even though unsolicited informal expressions of interest have been received. The focus of the strategic review to date, as announced on April 10th, 2015, has therefore been restricted to date to a further scale down of the business, sale or farm downs of non-Kazakhstan assets, equity financing at the corporate level and a debt refinancing.

As the exclusivity restriction no longer applies, a potential farm-out of the Kazakhstan assets will be included with the other strategic options being pursued.

Macquarie Capital has been appointed to work with the Company to advise on the review process, and to host the data room for farm-out discussions.

Discussions are already ongoing with a number of interested parties at the corporate level and a further update will be made when appropriate. There is no certainty that any transaction will take place.

In parallel to the strategic review, the Company continues its focus on delivery of production and reduction of non-essential expenses both corporately and in Kazakhstan, beyond the extensive cuts that have already been delivered since the Board changes at the end of November 2014.

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Current Financial Position

Although the Company has significantly reduced its cost base and secured additional loan financing, the Company will need to secure additional funding in order to meet its full contractual obligations and maintain a positive cash position throughout the next twelve months. There can be no assurances that such additional funding will be secured or that management will be able to implement one or more of the strategic initiatives being explored by the Company.

These circumstances indicate the existence of a material uncertainty related to events or conditions that may cast significant doubt about the Company's ability to continue as a going concern.

SinoHan Transaction

On November 1st, 2013 Tethys entered into a legally-binding exclusive agreement for the sale of 50% of its Kazakh oil and gas assets to SinoHan, part of HanHong, a Beijing, PRC, based private equity fund, for US$75 million. The longstop date for fulfilment or waiver of the CPs was extended for an additional six months starting November 1st, 2014 by mutual consent of both parties.

The Company has been working hard to fulfil the CPs required under the agreement with SinoHan prior to concluding the deal in good faith, however, the main approval required from the Kazakhstan Ministry of Energy ("MoE") has not been received by the longstop date of May 1st, 2015. Tethys has explored with SinoHan the possibility of a further short extension of the longstop date to provide additional time to obtain approval from the MoE, however SinoHan has confirmed that it does not wish to enter into a further extension on the transaction. As a result, the sale of 50% of the Tethys' Kazakhstan assets to SinoHan will not proceed and the Company will therefore retain its 100% interest.

The Company is currently in discussions with SinoHan on matters relating to the termination of the sale and purchase agreement, including:

the US$3.88 million deposit advanced by SinoHan in the form of a minimal interest-bearing loan, which becomes repayable within 10 Business Days of receiving written demand for repayment except in circumstances where the failure to complete is solely as a result of SinoHan's breach of its obligations under the sale and purchase agreement; and

the amount of up to US$0.70 million that would also be payable to SinoHan in the event of the CPs not being met or waived by the extended longstop date in circumstances where SinoHan has complied with all its obligations.
The Company expects to update the market in the near future on progress with these discussions.

John Bell, Executive Chairman, commented:

"Since I became Chairman at the end of November last year we have short term re-financed the Company and significantly reduced the cost base in order to continue operations, which were at the time unfunded, until we were able to get certainty of an outcome on the SinoHan transaction. We have reduced overheads by half and achieved the highest quarterly gas production in the last three years, whilst increasing reserves in all categories."

"The next step in Tethys' turnaround should have been the recapitalization of the Company through the SinoHan investment in Kazakhstan. Every effort has been made by me and my staff to complete this transaction. We are disappointed that the Ministry of Energy of Kazakhstan did not provide the approval required by the longstop date which was a condition precedent to the transaction."

"We are now focused on exploring further a number of interesting options that have already arisen to date from the strategic review, with the aim of maximizing the shareholders' return. I look forward to apprising shareholders of progress over the coming weeks."

"What has not changed since I joined Tethys as Chairman is the undoubted quality of the Company's assets. We retain 100% of our highly attractive assets in Kazakhstan that have generated significant industry interest at the asset and corporate level."

Website www.tethyspetroleum.com

About Tethys Petroleum:

Tethys Petroleum's aim is to become the leading Independent E&P Company in Central Asia, by exercising capital discipline, by generating cash flow from existing discoveries and by maturing large exploration prospects within our highly-attractive frontier acreage.

This press release contains "forward-looking information" which may include, but is not limited to, statements with respect to discussions with SinoHan on matters relating to the termination of the SinoHan transaction including with regard to the US$3.88 million loan and a US$0.70 million amount payable in circumstances where the CPs are not met or waived by the longstop date and the buyer has complied with its obligations, the reduction of corporate and regional overheads and operational expenses the securing of additional funding, as well as a strategic review and the mention of alternatives. Such forward-looking statements reflect our current views with respect to future events, including discussions of matters relating to the termination of the SinoHan transaction, achieving further reductions of corporate and regional overheads and operational expenses, securing additional funding or achieving strategic alternatives, and the significant potential of exploration and discovered deposits. The forward looking statements are based on the following assumptions; that discussions of matters relating to the termination of the SinoHan transaction conclude with a resolution of matters acceptable to both parties, that the Company will be able to successfully further reduce its corporate and regional overheads and operational expenses, that further funding will be secured and that a strategic initiative or transaction will be achieved. These forward looking statements are subject to a number of risks and uncertainties, including that discussions of matters relating to the termination of the SinoHan transaction will not conclude with a resolution of matters acceptable to both parties, that the cost cutting program will be delayed or that it will not result in the reductions to our corporate and regionals overheads and operational expenses, that further funding will not be secured and that the strategic alternatives are not achieved. These circumstances indicate the existence of a material uncertainty related to events or conditions that may cast significant doubt about the Company's ability to continue as a going concern and accordingly, the appropriateness of the use of accounting principles applicable to a going concern. See our Annual Information Form for the year ended December 31, 2014 for a description of risks and uncertainties relevant to our business, including our exploration activities. The "forward looking statements" contained herein speak only as of the date of this press release and, unless required by applicable law, the Company undertakes no obligation to publicly update or revise such information, whether as a result of new information, future events or otherwise.
Contact:
Tethys Petroleum Limited
John Bell, Executive Chairman c/o Camarco
[e-mail]
www.tethyspetroleum.com
CAMARCO (Financial PR)
Billy Clegg / Georgia Mann
[phone]

[texas2]

Antwort auf Beitrag Nr.: 49.710.213 von texas2 am 05.05.15 11:49:29

Heute ein verrückter ~ 100% Sprung nach oben

TPL ist wieder liquide und will mit AGR Energy zusammenarbeiten, die ich noch nicht kenne


TSX, LSE SYMBOL: TPL

May 15, 2015

Tethys Petroleum Limited: US$7.5 Million Convertible Loan

GRAND CAYMAN, CAYMAN ISLANDS--(Marketwired - May 15, 2015) - Tethys Petroleum Limited ("Tethys" or the
"Company") (TSX:TPL)(LSE:TPL) is pleased to announce that it has signed and closed a binding agreement for a
US$7.5 million convertible loan facility.

Key terms

-- Financing: Unsecured convertible loan facility
-- Principal: US$7.5 million
-- Term: 2 years
-- Interest rate: 9% p.a.
-- Conversion price: US$0.10
-- Lender: AGR Energy Limited No. 1

John Bell, Executive Chairman, said:

"We are very pleased to complete this financing which provides security and stability for the Company as we
advance the strategic review that we are working on with Macquarie Capital."

The conversion price is at a 30% premium to the one-month VWAP of US$0.0765 (closing price on May 14th, 2015
was US$0.075).

The debenture is redeemable prior to maturity for an amount equal to the principal outstanding together with
any accrued interest and an early redemption fee of 3.5% of the principal amount to be redeemed. The debenture
contains events of default provisions, including as a result of the failure to obtain any required governmental
approvals to the conversion of the debenture.

A copy of the convertible debenture and subscription agreement will be filed on SEDAR in a timely manner.

Confirmation has been received that US$5 million has been wired to the Company with expected receipt of funds
today with the remaining balance of US$2.5 million due to be received early next week.

The Company is also in discussions with a major shareholder for a facility of a lesser amount (expected to be
up to c. US$2 million), on substantially the same terms.

Separately, and as an option being considered as part of the ongoing strategic review, Tethys is pleased to
announce that it has entered into a limited period of exclusivity with AGR Energy Limited No. 1 ("AGR Energy")
to negotiate a potential larger financing. The exclusivity period runs through to June 12th, 2015 and is
subject to certain customary exceptions.

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.

About AGR Energy

AGR Energy is a company owned by the Assaubayev family, who are long-term investors in natural resources and
metals and mining, and have a track record of effective investment and support of enterprises, particularly in
Central Asia and other emerging markets.

Disclaimer

This press release contains "forward-looking information". Such forward-looking statements reflect our current
views with respect to future events, including the receipt by the Company of US$5 million of funds today and
US$2.5 million early next week, discussions with a major shareholder for a facility of a lesser amount
(expected to be up to c. US$2 million) on substantially the same terms, security and stability for the Company
during a strategic review process, receipt of any required governmental approval to the conversion of the
debenture and the negotiation of a potential larger financing with AGR Energy. The forward looking statements
are based on the following assumptions that the US$5 million of funds will be received today by the Company and
US$2.5 million of funds will be received by the Company early next week, that discussions with a major
shareholder for a facility of a lesser amount (expected to be up to c. US$2 million) on substantially the same
terms will be successful, the Company will have security and stability during a strategic review process, that
any required governmental approvals to the conversion of the debenture will be obtained in a timely manner and
that a potential larger financing with AGR Energy will be successfully negotiated. These forward looking
statements are subject to a number of risks and uncertainties, including that the US$5 million of funds and
US$2.5 million of funds will not be received by the Company as anticipated and within expected timeframes, that
discussions with a major shareholder for a facility of a lesser amount (expected to be up to c. US$2 million)
on substantially the same terms will not be successful, that the Company not having security and stability
during a strategic review process, that any required governmental approvals to the conversion of the debenture
are not obtained in a timely manner or at all and that a potential larger financing with AGR Energy is not
successfully negotiated. See also our Annual Information Form for the year ended December 31, 2013 for a
description of risks and uncertainties relevant to our business, including our exploration activities. The
"forward looking statements" contained herein speak only as of the date of this press release and, unless
required by applicable law, the Company undertakes no obligation to publicly update or revise such information,
whether as a result of new information, future events or otherwise.

FOR FURTHER INFORMATION PLEASE CONTACT:

CAMARCO (Financial PR)
Billy Clegg / Georgia Mann
[phone]

OR

[e-mail]
www.tethyspetroleum.com

Tethys Petroleum Limited

[texas2]

Antwort auf Beitrag Nr.: 49.787.310 von texas2 am 15.05.15 19:12:31

Wenn das nur auch nicht ein dead cat bounce für TPL wird:


Hot on the heels of the Sunkar Resources (SKR) shareholder wipeout, another Kazakh tale of woe on AIM is reaching its pitiful conclusion. Max Petroleum (MXP) really hasn’t received the attention it deserves from this site. This is yet another story from AIM’s resource sector of wanton value destruction and lost shareholder fortunes, amounting to many millions of pounds.By any measure, this company has been an unmitigated disaster, culminating in a crescendo of dire news.

The last twelve months have been characterised by a huge asset write down, disappointing operational performance, a cash position at crisis point and the failure to close August’s £37.1million rescue package from AGR Energy. Against the backdrop of a falling oil price, it will be a miracle if Max survives as a listed entity. The assets might well have potential, but there are signs the vultures are circling and, once again, ordinary British shareholders are doomed to lose out.

Today’s RNS from Max couldn’t have been much bleaker.

The company chose to lead with its failure to close the £37.1million rescue investment from AGR Energy. Apparently set up by the Assaubayev family especially for the purposes of investing into Max, AGR Energy has so far failed to deliver the money it promised on August 4th.

When this deal was first announced there was much hoopla that the price of the proposed placement, at 1.64p, was 33.9% higher than the previous day’s close. Naturally, this sucked a number of private investors into buying Max’s stock on the day. In what proved to be a classic dead cat bounce, Max closed at 1.5p on August 4th, only immediately to resume its grinding march lower. The series of 52-week lows which followed were a clear indicator that the market didn’t have much faith the Assaubayevs were the white knights Max’s directors apparently hoped for.

Nearly three months later and with no sign of the money, other than a vague comment from Max’s board that “discussions between the Company and AGR Energy continue in respect of certain terms of the Subscription”, it looks a fairly safe bet that this deal is dead.

Max’s share price now trades at 0.82p (last seen), so it is hardly credible that AGR will proceed with its investment at double the price. Given that Max’s formal sale process has failed to yield any other possible bidders, this leaves the company heading full steam towards the rocks.

The most obvious imminent threat to Max’s survival on AIM is the $3.2million debt repayment the company is due to pay to Sberbank in December. Without the money from AGR, there is very little hope that Max will be able to make this payment.

Max currently owes Sberbank $82.8million. When it reported its last set of annual results on August 20th, Max was forced to admit that, thanks to its reserves write down, it was in “technical breach of certain banking covenants related to production and reserves at 31 March 2014”. This was as serious as it sounded and forced Max to transfer its Sberbank borrowings from non-current to current liabilities, even though the debt is not scheduled to be fully repaid until November 2017. Should Max fail to make December’s payment, it seems unlikely Sberbank will be very forgiving.

Max’s oil and gas properties are secured against the money it owes Sberbank. The temptation will surely be for Sberbank to attempt to recoup the money it lent through a formal recovery process.

If this happens, and Max loses its assets, what will be most galling for shareholders is it looks like there is a viable business amid this wreckage. Average daily production was 3,899bopd and the company generated $100.4million revenue. Once borrowing costs are stripped out, it appears this company could be very profitable. There are questions over the $22.6million Max paid in “export customs duty/export rent tax”, but should Max ever be taken private and, say, oh, I don’t know, taken over by a Kazakh owner, this person should stand to make a lot of money.

This will be no comfort for the hundreds of British shareholders who have backed this company over the years.

[texas2]

Antwort auf Beitrag Nr.: 49.787.379 von texas2 am 15.05.15 19:28:34

Offensichtlich interessiert sich tatsächlich mehr als Einer für Tethys, was zu einem Bietergefecht führen könnte.

Pech für mich: habe Tethys gekauft als sie noch teurer waren. Tethys scheint mir so langsam in die richtige Richtung zu laufen. Die Gasproduktion sieht gut aus. Die Ölproduktion: da müssen sie noch nachverhandeln, die eine oder andere Ölbohrung könnte aber ein Treffer sein. Plus die sehr groß Phantasie mit dem China/Total Konsortium bei der übertiefen Bohrung

Die 11 pence von Nostrum wären mir zu wenig. Wenn ich Aktien von Nostrum bekommen würde, wäre es auch ok, da Nostrum eine kritische Größe (Produktion, Marktkapitalisierung) hat und vor allem schon eine Dividende bezahlt. Nostrum mit Jahresbericht und in London handelbaren Aktien ist für mich auch ein wenig transparenter als AGR Energy, a company owned by the Assaubayev family

------------------------------------------------------------------------------


Tethys Petroleum Ltd Surges Higher Following Bid From Nostrum Oil & Gas PLC
By Motley Fool | Mon, 13th July 2015 - 11:28
Share this
Shares in Kazakhstan-focused oil and gas producer Tethys Petroleum (LSE:TPL) rose by 27% to 9.9p this morning. The gains were triggered by news that Nostrum Oil & Gas (LSE:NOG) has proposed a possible cash and share offer of 11p per share for Tethys, valuing the firm's stock at £37m.

Tethys shares hit a 52-week low of 2.8p in April, when the company was forced to announce that it was out of cash and unable to meet its obligations. The shares have since risen by more than 150%, thanks to a refinancing deal with AGR Energy.

Details of a comprehensive refinancing package were confirmed at the start of July, with AGR agreeing to subscribe for new shares worth US$47.7m at a price of C$0.19 per share. However, this placing will increase the number of Tethys shares in circulation by 94% if it goes ahead. According to Tethys, AGR would be expected to hold up to 51% of the enlarged share capital of the firm following the placing, effectively giving AGR control of Tethys.

The Nostrum offer could prove to be more attractive for private shareholders. The offer price of C$0.2185 (about 11p) per share is 15% higher than the C$0.19 AGR was willing to pay for its new shares, and is 45% higher than last Friday's closing price of about 8p.

Is there a downside?

Nostrum has a market capitalisation of £1.1bn and reported sales of $781m in 2014. The firm's operations are centred around its oil and gas fields in Kazakhstan and it's a credible buyer for Tethys, in my view. However, as I write, Tethys shares are trading at about 9.5p. That's still 14% below the 11p per share value of Nostrum's proposed offer, and reflects the potential downside of a Nostrum deal.

Firstly, Tethys shareholders will be denied the potential upside that could come from a rise in production and a recovery in the price of oil. Only a year ago, Tethys shares were trading at 20p.

At the end of 2014, Tethys had estimated unrisked mean recoverable oil resources of more than 400m barrels and proven and probable reserves of 27m barrels of oil equivalent. The Nostrum offer values Tethys' share capital at £37m, or just $2.10 per barrel of reserves. That's pretty cheap, compared to industry norms.

Secondly, while it is credible, Nostrum's offer looks like an opportunistic attempt to grab some decent assets at a distressed price. The board of Tethys, which now has a refinancing deal with AGR in the bag, might reject the Nostrum offer.

Buy or sell?

In my opinion, the pros and cons of holding Tethys shares are quite evenly balanced. Although Tethys should, in theory, be able to generate superior returns for shareholders by remaining an independent business, the firm has a history of under-performance.

What's more, if AGR becomes a majority shareholder as expected, future fundraising could be on less generous terms. Private investors could find themselves repeatedly diluted. The board of Tethys has not yet commented on the Nostrum approach. When they do, the share price could rise -- or fall -- sharply.

Tethys shares remain a speculative hold, in my view, but are very risky.

Roland Head has no position in any shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.

[texas2]

Antwort auf Beitrag Nr.: 50.177.868 von texas2 am 13.07.15 19:22:20

Pope ist das Nostrum Angebot ebenfalls zu gering:


Tethys Petroleum Limited Press Release: Update on Strategic Collaboration With AGR Energy and US$47.7 Million Financing Subscription for Clawback Shares by Pope Asset Management, LLC


2015-07-14T05:58:00+00:00
GRAND CAYMAN, CAYMAN ISLANDS--(Marketwired - July 14, 2015) -

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 (TSX:TPL)(LSE:TPL) ("Tethys" or the "Company") is pleased to announce that, further to its announcement on July 1, 2015 in relation to the strategic collaboration with AGR Energy Holdings Limited ("AGR Energy") and US$47.7 million financing (the "AGR Placing"), it has agreed with Pope Asset Management, LLC ("Pope"), the Company's largest shareholder, that Pope will subscribe for 100,000,000 new ordinary shares on substantially the same terms as the AGR Placing. The number of shares for which AGR Energy will subscribe under the AGR Placing will be reduced correspondingly to 218,003,951 new ordinary shares.

John Bell, Executive Chairman said:

"We are delighted to have the full support of our largest shareholder, Pope Asset Management and to have secured a substantial commitment from them to participate in the proposed placing alongside AGR Energy. Today's news is a further endorsement from our shareholders of their confidence in the Company's strategy, team and strategic partnership with AGR Energy."

Shareholder Subscription Key Terms

Under the terms of the subscription agreement relating to the AGR Placing, the Company has invited certain substantial shareholders to subscribe for ordinary shares on similar terms to AGR Energy. Following such invitations, Pope has entered into a subscription agreement with the Company (the "Pope Subscription Agreement") pursuant to which it will subscribe for 100,000,000 ordinary shares in the Company on terms substantially similar to the AGR Placing (the "Shareholder Subscription").

As with the AGR Placing, the subscription price under the Shareholder Subscription will be at a price of C$0.19 per ordinary share.

The Shareholder Subscription will reduce by a corresponding number the number of shares for which AGR Energy will subscribe under the AGR Placing. Consequently, following closing of the AGR Placing and the Shareholder Subscription:

AGR Energy is expected to acquire 218,003,951 ordinary shares under the AGR Placing;
AGR Energy, together with its affiliates, will hold approximately 36.0% of the enlarged issued share capital of Tethys, assuming conversion of the pre-existing convertible loans held by AGR Energy Limited Number I and Annuity and Life Reassurance Ltd ("ALR", an investor controlled by Pope), not including any issue of shares to satisfy interest payments, and the exercise of 23,333,333 warrants held by ALR and disregarding all other outstanding options and warrants; and
Pope, together with its affiliates and entities controlled by it (including ALR), will hold approximately 26.6% of the enlarged issued share capital of Tethys, on the same assumptions as set out in the preceding paragraph.
Conditions to Closing of the Shareholder Subscription: Completion of the Shareholder Subscription and receipt of funds is conditional, inter alia, upon each of the following conditions being satisfied on or before November 1, 2015, or such later date as may be agreed:

approval by the Company's shareholders of the Shareholder Subscription;
the Shareholder Subscription shares being approved for issue and admitted to trading by the TSX; and
closing of the AGR Placing having occurred.
A consequence of the Shareholder Subscription being conditional upon closing of the AGR Placing, is that it will also be conditional on the receipt of the Kazakh regulatory approvals and consents that are a condition of the AGR Placing. Further information on these regulatory approvals and consents is set out in the announcement of the Company on July 1, 2015 relating to the AGR Placing.

Further details of the Pope Subscription Agreement will be set out in the circular to be issued in connection with the extraordinary general meeting to seek shareholder approval of the AGR Placing and the Shareholder Subscription, in addition to certain related matters. A copy of the Pope Subscription Agreement will be filed on SEDAR in a timely manner.

Recommendation

The Board considers the Shareholder Subscription to be in the best interests of the Company and its shareholders as a whole. Accordingly, the proposed transaction has the unanimous support of the Board and each Tethys Director intends to vote in favour of all those resolutions required to implement the Shareholder Subscription in relation to shares held or controlled by them.

Extraordinary General Meeting

As noted in the Company's announcement on July 1, 2015, the Company will prepare a circular that will be sent to all shareholders, including details of those resolutions relating to the AGR Placing, the associated convertible loan and the Shareholder Subscription to be voted on at an Extraordinary General Meeting ("EGM"). It is currently anticipated that the EGM will be held at InterContinental Paris - Le Grand 2 Rue Scribe, Paris, 75009, France on August 28, 2015 at 11:30 a.m. (CEST - local time in Paris, France), and that the circular will be sent to shareholders on or before July 28, 2015.

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

This press release contains "forward-looking information". Such forward-looking statements reflect our current views with respect to future events, including with respect to completion of the AGR Placing and the Shareholder Subscription, fulfilment of related conditions, and the receipt of related shareholder and regulatory approvals and consents. The forward looking statements are based on the following assumptions that the AGR Placing and the Shareholder Subscription will be completed, that all related conditions will be fulfilled and that all shareholder and regulatory approvals and consents will be obtained by the November 1, 2015 contractual long stop date. These forward looking statements are subject to a number of risks and uncertainties, including the risk that the AGR Placing and Shareholder Subscription, the fulfilment of related conditions and/or the receipt of shareholder and regulatory approvals and consents will not be completed or obtained by the November 1, 2015 contractual long stop date.

Please also refer to the Company's Annual Information Form for the year ended December 31, 2014 for a description of risks and uncertainties relevant to the Company's business, including its exploration activities. The "forward looking statements" contained herein speak only as of the date of this press release and, unless required by applicable law, the Company undertakes no obligation to publicly update or revise such information, whether as a result of new information, future events or otherwise.

[texas2]

Antwort auf Beitrag Nr.: 50.187.621 von texas2 am 14.07.15 21:47:31

Motley Fool article on today's (possible) Nostrum offer

http://www.fool.co.uk/investing/2015/08/10/tethys-petroleum-…

Shares in struggling oil and gas producer Tethys Petroleum (LSE: TPL) rose by as much as 20% this morning on news of a 10.7p per share possible takeover offer from FTSE 250-listedNostrum Oil & Gas (LSE: NOG).

The possible offer of C$0.2185 (approx. 10.7p) per share represents a 56% premium to the closing value of Tethys shares on Friday and would value the company at about £36m.

Tethys also said this morning that a previously agreed $47.7m refinancing deal with AGR Energy and Pope Asset Management would no longer be going ahead. As a result, while today’s offer may be a far cry from two years ago, when Tethys shares traded at more than 40p, it could prove to be a lifeline for Tethys shareholders.

As part of this deal, AGR had provided a $5m short-term loan to Tethys, which will no longer be available. To replace this, Nostrum has agreed to provide a similar $5m facility while it carries out due diligence on Tethys.

It’s probably fair to say that if the Nostrum offer is not successful, Tethys could be forced into administration, or face a heavily-dilutive fundraising that would leave very little value for existing shareholders.

Nostrum has until 9am on 24 August to complete its due diligence checks on Tethys, after which it will have two business days to decide whether to make a formal offer.
Nostrum may be a good buyer

The board of Tethys has already agreed to recommend Nostrum’s offer unanimously to shareholders if it is confirmed.

Interestingly, Tethys says that shareholders would be able to choose whether to receive payment in cash or Nostrum shares. While cash might seem to be the obvious choice, I’ve been wondering whether Nostrum shares could be a more profitable choice.

Nostrum is a £1bn business with substantial operations in Kazakhstan, where Tethys’ main production assets are also located. In 2014, Nostrum reported turnover of £781m and a profit of £146m.

The firm’s share price has proved more resilient than many other oil and gas firms over the last year, falling by just 33%, compared to 68% for Tullow Oil and 62% for Premier Oil, two similar-sized firms.

One reason for this may be that Nostrum appears to have been able to finance the majority of its capital expenditure from its own operating cash flow in recent years. The firm has even been able to pay a reasonable dividend, which is expected to offer a yield of around 2.6% this year.

Nostrum’s current valuation indicates that its proven and probable (2P) reserves are currently valued at around $4 per barrel. That doesn’t seem expensive.

Most Tethys shareholders are likely to be sitting on a big loss. Accepting Nostrum shares instead of cash could be one way of clawing back some losses on Tethys.

This isn’t the first time that Nostrum has looked at Tethys with a view to buying the smaller firm. In my view, this latest offer is very likely to succeed. If I was a Tethys shareholder, I would choose Nostrum shares instead of cash, and hold on for the chance of a longer-term profit.

However, investing in oil and gas stocks is not simple at the moment. Big profits and further losses seem equally likely.

Read more at http://www.stockhouse.com/companies/bullboard/t.tpl/tethys-p…

[texas2]

Antwort auf Beitrag Nr.: 50.370.678 von texas2 am 10.08.15 22:32:10

Tethys Petroleum Says Nostrum Oil & Gas PLC Withdrew Proposed Offer; But Gets Letter of Intent From AGR Energy; And A Third Party Reportedly in the Mix

10/07/2015 09:23 AM ET

09:23 AM EDT, 10/07/2015 (MT Newswires) -- Tethys Petroleum Limited (TPL.TO) - which was up 11% at last look in UK afternoon trade on Wednesday - announced that Nostrum Oil & Gas PLC has withdrawn its proposed offer that was previously announced on September 23, 2015, to acquire the entire issued share capital of Tethys together with a proposed US$20 million interim funding transaction.

Instead, Tethys announced that it has received a non-binding letter of intent from AGR Energy Holdings Limited in connection with a potential US$20 million equity fundraising at a price of C$0.165 per share and potential US$5 million loan to support short-term liquidity. In addition to the equity fundraising AGR Energy would also be granted an option by the company to subscribe for further newly issued shares for up to US$20 million of shares at the same subscription price.

The MotleyFool noted Nostrum has stepped back, and AGR Energy has stepped forward, but it said there is also another suitor in the mix. According to it, earlier this month Olisol Investment Group came forward to offer Tethys $8 million by way of share subscriptions. Olisol has offered to make an extra $24 million of new equity available to Tethys as part of a transaction, it said.