Tethys Petroleum: Olisol Investments Signs $15m Debt Facility, John Bell and Fellow Directors to Step Back
Tethys Petroleum Limited today announces that it has signed a legally binding amendment to the US$15 million convertible debt facility entered into on November 19, 2015 with Olisol Investments Limited and its wholly owned subsidiary, Olisol Petroleum Limited, setting out amended terms to the Interim Facility and consequential changes to …
Tethys Petroleum: Olisol Petroleum – Funding Update
Tethys Petroleum Limited today provided an update on the previously announced US$15 million convertible debt facility with Olisol Petroleum Limited, a wholly owned subsidiary of Olisol Investments Limited (together with OPL, “Olisol”). Following the Company’s announcement on 22nd January 2016, Tethys received a further US$1 million on January 28th, 2016. …
Tethys Petroleum: AGR Energy Calls in $7.5m Debenture
Tethys Petroleum Limited announces that it has received an Accelerated Repayment Notice from AGR Energy Limited No 1 (“AGR Energy”) in relation to the unsecured convertible debenture issued by Tethys to AGR Energy on 15 May 2015 (“Convertible Debenture”) notifying the Company of events of default and demanding repayment of …
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: …
Nostrum Oil and Gas: 9M Results – Revenue Over $370m, Drilling Program On Target
Nostrum Oil & Gas PLC, an independent oil and gas company engaging in the production, development and exploration of oil and gas in the pre-Caspian Basin, today announces its operational update for the nine month period ended 30 September 2015. This update is being issued in advance of the release …
Tethys: Battles Debt Issue with Nostrum Over Bokhtar Withdrawal
Tethys Petroleum Limited announces that it has today received a Notice of Events of Default from Nostrum Oil & Gas PLC (“Nostrum”) in connection with the US$5 million facility agreement between Tethys and Nostrum, dated August 10, 2015 (the “Facility Agreement”). Tethys does not agree with Nostrum’s interpretation of the …
Tethys Petroleum: Receives Letter to Withdraw From Bokhtar PSC
Tethys Petroleum Limited announces that on October 11, 2015, it received a notice to withdraw from the Joint Operating Agreement and Shareholders Agreement dated June 18, 2013 relating to the Bokhtar PSC in Tajikistan (the “JOA”) and the underlying PSC (the “Contract”) from CNPC Central Asia B.V. (“CNPC”) and Total …
Tethys: Fails to Make Bokhtar Operating Cash Call
Tethys Petroleum Limited announces that it has not made the payment for the September cash call issued by the Bokhtar Operating Company (the “September Cash Call”) in connection with Tethys’ interest in the Bokhtar PSC in Tajikistan (the “Tajik Asset”). As a result, Tethys remains in default of its obligations …
Tethys Petroleum: Clarifies Olisol Discussions
Tethys Petroleum Limited acknowledges the public announcement by Olisol Investment Group (“Olisol”) on October 9, 2015 regarding a non-binding proposal submitted to the Company along with suggestions that Tethys has not engaged with Olisol or considered Olisol’s proposal. The Tethys Board disagrees with much of the content in the Olisol …