Tethys Aral Gas: Continues Akkulka Project Development
Approval Received for Continuation of Oil Production The Company’s subsidiary Tethys Aral Gas LLP (“TAG”) was recently notified by the competent authority in Kazakhstan of its approval of the continuation of the Company’s Akkulka Oil Field Pilot Production Project (the “Project”) from January 1, 2018 to March 10, 2019. This …
Tethys Petroleum: Q2 2017 Results – Revenues Down 19% but Net Revenues Up 2%
Tethys Petroleum Limited today announced its unaudited results for the quarter ended June 30, 2017. Q2 Financial Highlights (all figures reported in USD unless stated otherwise. 2016 amounts are for the quarter ended June 30, 2016) – Oil and gas sales and other revenues decreased by 19% to USD2.9 million …
Tethys Petroleum: Q1 2017 Results – Revenues Down 86% Due to Lack of Gas Sale, Gas Sold in May 2017
Tethys Petroleum Limited today announced its Results for the quarter ended March 31, 2017. Q1 Financial Highlights (all figures reported in USD unless stated otherwise. 2016 amounts are for the quarter ended March 31, 2016) Oil and gas sales and other revenues decreased by 86% in the first quarter of …
Tethys Petroleum: Olisol in Breach of Investor Agreement but Continues to Provide Funds
Olisol Transaction Following approval of The Grand Court in the Cayman Islands on August 19, 2016 to reduce the par value of the Company’s ordinary shares from US$0.10 to US$0.01 the Company has worked with Olisol and its advisors to complete the previously announced C$9.8 million private placement by September …
Tethys: Planning for Kazakh Growth
Tethys Petroleum Limited today provided a Corporate Update to shareholders. – Olisol Transaction Update – US$10 million loan facility in Kazakhstan – Forward Work Program Olisol Transaction Update Following on from the Shareholders Meeting where shareholders approved the proposed Olisol Transaction the Company has engaged a law firm in Grand …
Tethys Petroelum: Enters into Binding C$9,787,003 Private Placement with Olisol
Tethys Petroleum Limited announces that is has entered into a binding investment agreement (the “Investment Agreement”) with Olisol Investments Limited (“Olisol”) setting out the terms and conditions upon which Olisol Petroleum Limited, a wholly-owned subsidiary of Olisol (“OPL”), has agreed to purchase 181,240,793 new ordinary shares in Tethys (“Shares”) at …
Tethys Petroleum: 2015 Results – Project Extensions, New Financing, Gas Revenues Up 98%
Tethys Petroleum Limited today announced its Annual Results for the year ended December 31, 2015. Corporate Highlights – 2015 – Extension of the Akkulka Exploration Contract for another four years, from March 10, 2015 to March 10, 2019; – Extension of the Kyzyloi Gas Production Contract confirmed for another 15 …
Tethys Petroleum: Extends Olisol Exclusivity Period
Tethys Petroleum Limited announces that is has agreed to extend the previously agreed exclusivity period with Olisol Investments Limited (“Olisol”) by 14 days to 11:59 p.m. Calgary time on December 7, 2015 (as extended, the “Exclusivity Period”). On November 9, 2015 Tethys and Olisol signed a Letter of Intent (“LOI”) …
Tethys Petroleum: $15m from Olisol to Repay AGR Energy and Nostrum, Without Funding Company May Not Continue as a Going Concern
Tethys Petroleum Limited announces that, further to the letter of intent announced on November 9th, 2015, the Company has entered into an interim convertible financing facility of up to US$15 million with Olisol Petroleum Limited (“OPL”), a wholly owned subsidiary of Olisol Investments Limited (“Olisol”). The Interim Financing Facility is …
Tethys Petroleum: Q3 Results – Loss of $3.7m USD – All Costs Massively Reduced, Production Up 81%
Tethys Petroleum Limited today announces its third quarter 2015 financial results and activity update. Financial Highlights – Loss for the period of USD3.7 million (Q3: 2014 USD2.4 million) – Basic and diluted loss per share of USD0.01 (Q3: 2014 USD0.01) – Oil and gas revenue of USD5.7 million (Q3 2014: …