Market Reaction: Very positive. The price of this transaction represents a premium to the share price. It also puts the Company in a position where value can be realised from its portfolio. The funding overhang is addressed and it removes the risk of Tethys not filling its work obligations on key licences. In addition, AGR provides political support that should allow the firm to achieve higher gas realisation by exporting to China in 2H16.
01 Jul 2015
US$47.7 MM EQUITY FINANCING WITH AGR ENERGY
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US$47.7 MM EQUITY FINANCING WITH AGR ENERGY
Tethys Petroleum Limited. (0PRL:LON) | 0 0 0.0%
- Published:
01 Jul 2015 -
Author:
Stephane Foucaud -
Pages:
3
Market Reaction: Very positive. The price of this transaction represents a premium to the share price. It also puts the Company in a position where value can be realised from its portfolio. The funding overhang is addressed and it removes the risk of Tethys not filling its work obligations on key licences. In addition, AGR provides political support that should allow the firm to achieve higher gas realisation by exporting to China in 2H16.