Edison Investment Research - Tethys Petroleum (A2PAZ7) Flash note: Possible bid from Nostrum Oil Gas

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Edison Investment Research

Flash note: Possible bid from Nostrum Oil & Gas

On 10 August, Tethys announced it had terminated financing talks with AGR Energy after AGR asked for changes to terms that were unacceptable to Tethys. At the same time, Tethys received a $5m loan from Nostrum Oil & Gas (NOG) in exchange for a period of exclusivity for NOG to undertake due diligence, to be completed by 24 August. Under the exclusivity agreement, NOG will have two business days to announce an intention to make an offer for Tethys. The indicative proposal from NOG announced by Tethys on 10 August was at C$0.2185/share in cash, with the option for eligible shareholders to take NOG shares, and made subject to completion of due diligence and the making of a formal offer. Tethys has not accepted or agreed to the terms of any offer or proposed offer at this stage.

24/08/2015 1 EN

Underlying

Tethys Petroleum

Tethys Petroleum is an oil and gas exploration and production company focused on projects in Central Asia. Through its subsidiaries, Co. is engaged in the exploration for, and the acquisition, development and production of, oil and natural gas resources in Kazakhstan, Tajikistan and Uzbekistan.

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KYG876361091 Toronto Stock Exchange Cayman Islands

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Flash note: Possible bid from Nostrum Oil & Gas

AUCTUS ON FRIDAY - 19/04/2024

AUCTUS ON FRIDAY - 23/02/2024

AUCTUS ON FRIDAY - 09/02/2024

The Pebble Group - Two distinct businesses in one

MotorK - Strong pipeline and cash target reaffirmed

Newron Pharmaceuticals - Evenamide notches up another win (study 008A)

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