Scandoil  

Tethys Petroleum updates strategic review process


Published May 12, 2015
Tethys Petroleum Limited-2

Tethys Petroleum Limited provides an update on the Strategic Review process and on-going discussions with SinoHan Oil and Gas Investment Number 6 B.V.

The Strategic Review process, being undertaken with the assistance of Macquarie Capital, is progressing well, with a number of new parties expressing an interest in near term financing options, the Company and its assets. A further update will be provided in due course. At this stage, there can be no certainty that further funding will be secured or that any strategic transaction or alternative will be undertaken.

As previously announced 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 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 certain circumstances. Demand for payment on both sums has been received from SinoHan. Tethys continues to conduct discussions with SinoHan and at this time remains confident that an amicable resolution can be reached between the parties on these matters.

Tags: Tethys Petroleum Limited




Advertisment:

Add a Comment to this Article

Please be civil. Job and promotion will not be added into the comment page.

(Use Markdown for formatting.)

This question helps prevent spam:

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml