From the recent NR:
"The Board of Directors of the Company intends to focus on courses of action that it believes will maximize shareholder value in the shortest time frame."
Another dilutive equity financing does not accomplish this. If Sinohan is willing to pay $75M for 50% of the Kazak gas assets, what would they pay in this current environment for the whole company??(100% of the Kazak assets, the enormous land package and unrisked reserves in Tajikistan as well as more in Kazakhstan. Throw in the Georgia prospect as well).
I think they would willingly pay > $100M for Tethys. But is Tethys willing to be bought out at those prices (5X current market cap)??