Tuesday, 07 December 2021 03:38 GMT

UK- Tethys Petroleum: clock still ticking for AGR talks

(MENAFN- ProactiveInvestors)Tethys Petroleum (LON:TPL) remains in eleven-hour negotiations over a funding deal with a Kazakhstan business family. The London and Toronto listed oil and gas group this morning confirmed it has until midnight on Tuesday June 30th to secure an arrangement. It comes after a previously extended deadline was moved from June 26. AGR Energy a vehicle for the Assaubayev family last month provided Tethys a US$7.5mln convertible loan and it has been in exclusive negotiations over a larger funding. 'We believe Tethys' financial flexibility will come under increasing pressure in the absence of material funding' Cantor Fitzgerald analyst Sam Wahab said.

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.