(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.
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