Tethys Petroleum Limited (Cayman Islands) provides operations update
/KASE, June 17, 2020/ – Tethys Petroleum Limited (Cayman Islands), whose shares are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release of June 16, 2020:
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Tethys Petroleum Limited (TSXV: TPL.H) ("Tethys" or the "Company") today provides a corporate update.
Completion of DSFK Agreement
On February 8, 2020 Tethys announced that it had reached a legally binding settlement agreement with Olisol Petroleum Limited and certain of its affiliated companies and their principals (together "Olisol") and DSFK Special Finance Company LLP ("DSFK"), (hereinafter the "Settlement Agreement").
The Kazahkstan Supreme court has ratified the agreement effective May 26, 2020. The Company has made the required financial payment of 1,434,692,762 tenge and has issued the 18 million shares necessary to complete and finalize the agreement. The Company is moving forward with its application to reactivate from the NEX board to a Tier 2 Oil & Gas Issuer on the TSX Venture exchange.
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The complete press release is available on KASE website:
[2020-06-17]