Tethys Petroleum Ltd Tethys Petroleum Limited: Announcement From Olisol Petroleum Limited

 
TIDMTPL 
 
 
   February 10, 2017 
 
   Tethys Petroleum Press Release 
 
   (TSX: TPL, LSE: TPL) 
 
   Announcement from Olisol Petroleum Limited 
 
   GRAND CAYMAN, CAYMAN ISLANDS - Tethys Petroleum Limited ("Tethys" or the 
"Company") acknowledges the public announcement by Olisol Petroleum 
Limited on February 9, 2017 regarding the validity of Tethys 
Extraordinary General Meeting ("EGM") held on January 27, 2017. 
 
   The Tethys Board would like to inform shareholders and other interested 
parties that the Management Information Circular dated December 22, 2016 
mailed to shareholders did contain all material information required for 
shareholders to make an informed decision at the EGM and the EGM was 
conducted in accordance with proper procedure under applicable laws as 
well as the Company's Articles of Association. 
 
   Prior to the EGM, Tethys and each of its Kazakhstan subsidiaries 
commenced legal action against Olisol Investments Limited, Olisol 
Petroleum Limited and certain of their respective principals and/or 
affiliates in the Court of Queen's Bench of Alberta seeking, among other 
things, damages arising from failure to meet contractual obligations 
under an Investment Agreement between the parties on October 27, 2016 
and damages arising from unlawful interference with Tethys' business 
activities, including issuing erroneous press release information about 
Tethys as alleged. Tethys intends to enforce its rights and legitimate 
interests to the fullest extent permitted by law, to protect its 
investors, assets, investments, management and employees. 
 
   About Tethys 
 
   Tethys is focused on oil and gas exploration and production activities 
in Central Asia and the Caspian Region. This highly prolific oil and gas 
area is rapidly developing and Tethys believes that significant 
potential exists in both exploration and in discovered deposits. 
 
   Disclaimer 
 
   Some of the statements in this document are forward-looking. 
Forward-looking statements include statements regarding the intent, 
belief and current expectations of the Company or its officers with 
respect to the potential that exists in both exploration and in 
discovered deposits in Central Asia and the Caspian Region, the outcome 
of claims by Olisol Petroleum Limited about the validity of the EGM and 
the outcome of legal action against Olisol Investments Limited, Olisol 
Petroleum Limited and certain of their respective principals and/or 
affiliates. When used in this document, the words "expects," "believes," 
"anticipates," "plans," "may," "will," "should" and similar expressions, 
and the negatives thereof, are intended to identify forward-looking 
statements. Such statements are not promises or guarantees, and are 
subject to risks and uncertainties that could cause actual outcomes to 
differ materially from those suggested by any such statements including 
risks and uncertainties with respect to the potential that exists in 
both exploration and in discovered deposits in Central Asia, the outcome 
of claims by Olisol Petroleum Limited about the validity of the EGM and 
the outcome of legal action against Olisol Investments Limited, Olisol 
Petroleum Limited and certain of their respective principals and/or 
affiliates. 
 
   No part of this announcement constitutes, or shall be taken to 
constitute, an invitation or inducement to invest in the Company or any 
other entity, and shareholders of the Company are cautioned not to place 
undue reliance on the forward-looking statements. Save as required by 
the Listing Rules and applicable law, the Company does not undertake to 
update or change any forward-looking statements to reflect events 
occurring after the date of this announcement. 
 
   Contact Information: 
 
   Tethys Petroleum 
 
   info@tethyspetroleum.com 
 
   www.tethyspetroleum.com 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Tethys Petroleum Limited via Globenewswire 
 
 
  http://www.tethyspetroleum.com/
(END) Dow Jones Newswires
February 10, 2017 06:29 ET (11:29 GMT)
Tethys (LSE:TPL)
Historical Stock Chart
From May 2024 to Jun 2024