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
24 Aug 2015
Possible bid from Nostrum Oil & Gas
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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