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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Cadogan Energy Solutions Plc | CAD | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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|---|---|---|---|---|
| 0.00 | 0.00% | 2.35 | 08:00:11 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 2.35 | 2.35 | 2.35 | 2.35 | 2.35 |
| Industry Sector |
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| OIL & GAS PRODUCERS |
| Top Posts |
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Posted at 07/10/2022 00:09 by brumbrum79 Some newsCadogan started the process of dissolution of Astrogaz LLC (ex pirkivska license) - link: hxxps://youcontrol.c Astro-invest Energy LLC won the supreme court appeal against Poltava Regional Taxes Office - link: hxxps://opendatabot. Cadogan Petroleum Holding Ltd (direct sub-holding of Cadogan Petroleum Plc) published FY2021 on 21 september 2022 - During 2021 some Cadogan Petroleum Holding's subsidiaries repaid loan for 2,3 Usd million - at the end of 2021 CPH Ltd had 7,295 Usd million of cash at bank. In consolidated balance sheet FY2021 cash was 15,011 Usd million, in Cadogan Petroleum Plc balance sheet FY2021 cash was 3,860 Usd million. On page 4 of Cadogan Petroleum Holding's FY Report you can read 'Future Developments'.. 1H2022: Crude Oil production in the 1H22 60.816 Bbls; Crude Oil production 380 Bpd (based on 160 days of production - it stopped oil production for 3 weeks in march); Hydrocarbon sale revenue: 4.632.000 Usd; Cadogan Crude Oil average sale price 76,16 Usd/Bbl; 1H22 Brent Oil average price: 106,92 Usd/Bbl; (in the first 3 months of 2H Brent Oil average price: 100,72 Usd/Bbl) Discount applied: 30,76 Usd/Bbl; 'CO2 emissions level in H1 2022 increased to 124,99 tons of CO2,e/boe produced compared to 82.47 tons of CO2,e/boe for the same reporting period of the last year driven by the increase of associated gas volume recovered during oil production.' They could reduce CO2 emission with a CHP plant (400-800 kW), using associated gas (methane, butane, ethane, pethane) recovered during oil production and in the same time producing heat and electric energy. The ceo and management board are ridiculous. 'The structural tectonic and petrophysical modeling of the area, hydrocarbons reserves & resources reassessment as well as hydrodynamic model refining is planned to be conducted afterwards.' hydrocarbons reserves & resources reassessment... maybe new CPR released in the 2050?! 'As at 30 June 2022, the development and production assets balance which forms part of PP&E has decreased in comparison to 31 December 2021 due to the Hryvnya devaluation against the US Dollar by 8% at the end of the period.' We will see what happens in the 2H2022... Today Usd/Uah exchange rate is 37; Ceo & Management Board remuneration (Fy2021) was more than 800.000 Usd... I think it will be the same this year. 800.000 Usd/yearly for this wonderful ceo and management board. They are paid to do nothing or less than nothing. Last but not least, from 19th november 2019 the share price performance is -64%, a fabulous result yeah! Great job of meeus' management board and his requisition letter. Taken directly from 'Members’ Statement': ...RESTRICTED - 1 Members’ Statement Continuous underperformance of the Company The Company’s share price has fallen by more than 80 per cent over the last eight years (based on a closing share price on 20 September 2019 of 6.25 pence compared to a share price in September 2011 of 40 pence). This represents significant underperformance against sector indices over the same period and cannot therefore be accounted for by the difficulties facing the Oil & Gas sector as a whole (the FTSE All Share Oil & Gas Index has increased by approximately 16 per cent over the same period). The Company has been left with less assets and a diminished cash balance as a result of this underperformance. In addition, the current activities of the Company are both capital intensive and leading to significant net cash outflows. We believe recent developments, in particular a potential partnership with the Italian company Proger, are not fully addressing this issue. The potential synergies with Proger have still to be identified, analysed, developed and integrated on an adequate and fair basis for both parties. We believe that a company of Cadogan’s size and standing requires a more developed strategy in order toaddress its current situation. Proposed New Directors We believe that the appointment of the proposed directors will revitalise the board and allow the Company to implement the necessary reforms to address the underperformance described above. Further details of the experience and skills of the proposed directors are included below. ... wowww! Thanks Mr. meeus, in the last 3 years we saw more than 1000 new business ideas, a great execution of the plan (which plan? is there a plan? really?) and a fireworks performance of Cadogan's share price! ...But my smile, still, stays on... Just gimme, gimme, gimme fried chicken! |
Posted at 10/8/2022 18:53 by brumbrum79 Sorry Russman..which is the problem to publish the arbitration award for Cad's management? The problem is the 'Truth'? Here the main problems are: 1) Devaluation of hryvnia vs. Usd and related impairment on fixed assets; 2) Lowest transparency of management towards shareholders/investo 3) No information & details about new investment in other sectors and geographical diversification; 4) E&P activity located in ukraine and related war scenario; 5) Natural gas trading activity should be closed; 6) Exploenergy?; 7) etc... |
Posted at 03/8/2022 22:09 by brumbrum79 I'd like to share this information.Proger Spa: Share Capital 22.688.480,00 € - Shares: 2.268.848 -> nominal value 10€/each Proger Ingegneria Srl 96,49% Manitalidea Spa 1,81% Proger Spa own Shares 1,70% I don't know how many people here are informed about Manitalidea Spa situation... Manitalidea Spa is a distressed company, a liquidation process is underway. On march 2022 Manitalidea's liquidation committee initiated the sale of the shareholding (1,81%) in proger spa. Based on my information acquisition offer closing date was on 14 march 2022. Now I don't know who bought or presented an offer (I have to search) but imho no more investors (except Proger Spa itself or Proger Ingegneria Srl) should be interested to buy a minority stake (less than 2%) of Proger Spa. Well, if my assumptions were correct, after the closing of the acquisition of the stake held by Manitalidea Spa the 'new' Proger Share Capital should be: Proger Ingegneria Srl 98,30% or 96,49% Proger Spa own shares 1,70% or 3,51% An experienced management / Ceo would propose a merger between Proger Spa and Proger Ingegneria Srl (it's a sub-holding held by 3 holding companies -> PMP Srl, Tifs Partecipazioni Srl, MaLo Srl) to simplify the Group structure. Imho, it could be a 'good' choice for Cadogan because it would hold shares of Proger Spa (parent and operating company). In my view it would be better than hold shares of an Holding company. ByeBye |
Posted at 10/8/2021 15:39 by diesel Hard to value Doug.Questionable management Dodgy operating environment Limited prospects Industry out of favour with investors. ….however the loan to Proger looked like a move to diversify and into territory with slightly more predictable operating rules, that said it’s all gone a bit pear shaped. The value here is in the loan or the Proger shares, a resolution could see this double overnight, but I’m not hopeful, they seem to have become a litigation company and so far that hasn’t bought results. Good luck |
Posted at 25/5/2021 11:45 by diesel This has never been a ‘normal’ company for investors and I wouldn’t rule anything out from reverse takeovers to the company being taken private.As for Fadys purchases i would suspect that this is not within the rules of insider dealing. With half of the companies mcap in the process of being recovered there must be a lot of info that is not currently in the public. |
Posted at 10/3/2021 22:56 by brumbrum79 Natural Gas Production Favorites Swapped PlacesOn February 23, the Sixth Administrative Court of Appeal overturned the decision of the Kiev District Administrative Court dated October 6, 2020, thereby completely redistributing the roles between the key disputants of the process, Astrogaz LLC from the orbit of Nikolai Zlochevsky and Naftogazexpluatatsiy In the photo - Nikolay Zlochevsky This fight was started by the side of the founder of the Burisma group. The lawsuit, filed back in the summer of 2019, contained claims against the State Service of Geology and Subsoil in terms of inaction to issue a special permit for the use of subsoil. We are talking about a license for the commercial development of the Pirkovskoye oil and gas condensate field (Poltava region). Astrogaz argued that the company had submitted the package of documents allowing it to apply for out-of-competition obtaining a special permit to the State Geological Survey in October 2018, but did not receive a response until a direct appeal to the court, that is, in the fall of 2020. Why is this firm better than others, which gives it a reason to expect to receive a license without a competition? Mostly the background. Since 2007, Astrogaz has had a special permit for the use of subsoil in the Pirkovskoye field. Since that time, the company has invested decently in "its" site, having carried out its geological study, including pilot development, as a result of which the so-called "approbation of reserves" was carried out. This very approbation, according to the rules that existed several years ago, was a sufficient basis for the out-of-competition issuance of a special permit. Just for a new special permit for the use of subsoil under a simplified procedure (without an auction), Astrogaz began to apply for a few years ago, when the company's “old” license was about to expire. The Gosgeonedra did not feel this petition, explaining their refusal by the fact that the licensee did not fulfill the work program, which is an integral part of the license, which led the parties to the courtroom. In addition to a philosophical complaint about the passivity of the geological department, the lawsuit of Nikolai Zlochevsky's side also contained a specific mundane part: to oblige Roman Opimakh's department to issue a special permit. As OLIGARCH reported, the District Administrative Court satisfied the application, however, it did so in such a way that neither side was satisfied with the decision. It said that the inactivity of the Gosgeonedr could indeed be qualified as unlawful, but at the same time there was no question of any obligation on the part of the state structure to issue a special permit to Astrogaz. The first instance court limited itself to a cautionary conclusion about the need to consider the applicant's application. For Astrogaz LLC, this meant that the company had to return to the standby mode again, which in the case of licensing activities in the field of subsoil use could last for years. For OOO Naftogazexpluatatsiy "The Astrogaz company asks the court of appeal to cancel the decision of the court of first instance and adopt a new ruling, which satisfies the administrative claim in full," - said in a statement by the lawyers of the side of Nikolai Zlochevsky. In the photo - Rinat Akhmetov "The company" Naftogazexpluatatsiy From the background of this conflict, it is clear that initially the spark ran between Astrogaz and Gosgeonedra (and not Astrogaz and Naftogazexpluatatsiy But where is Rinat Akhmetov's company here? The lawyers of the richest Ukrainian answered this question quite intelligibly. “Claims filed by Astrogaz LLC relate to the granting of the right to use the subsoil of the Pirkovskoye oil and gas condensate field for the purpose of geological exploration, which is located within the Pirkovskaya area. Meanwhile, by the order of the Cabinet of Ministers dated July 5, 2019 No. 507-r "On determining the winners of tenders for concluding agreements on the sharing of hydrocarbons," OOO Neftegazexpluatatsiy More than a year has passed since that moment, which showed that Neftegazexpluatatsiy Zinkovsky, whose gas resources are estimated at 3.8 billion cubic meters. And this is largely due to the conflict with Astrogaz LLC. But is Rinat Akhmetov's team approaching its goal now, when the Sixth Administrative Court of Appeal canceled the above-mentioned decision of the Kiev District Administrative Court last year? Yes, it’s true, it can still change. Zlochevsky's team has the right to prove their case in the Supreme Court, whose decision today is absolutely unpredictable. |
Posted at 06/3/2021 12:56 by thordon RATING COMMUNICATIONCerved Rating Agency on 23/04/2019 awarded the A3.1 rating to Proger S.p.A. Proger SpA (Proger or Company) is mainly active as an engineering company for the construction and management of infrastructure works, Oil & Gas and construction at national and international level. The reference shareholders are Sgambati Umberto and Lombardi Marco, President and both AD of the Company, through Proger Ignegneria Srl (72% of Proger SpA) and Proger Managers & Partners (54.99% of Proger Ingegneria Srl). The Company has also been owned since 2015 by Simest Spa, with a 27% stake. In March 2019, the Company and its parent company Proger Ingegneria Srl concluded a paid share capital increase of 13.4 million euros, carried out through convertible financing granted by Cadogan Petroleum Holdings BV,a Ukrainian companylisted on the London Stock Exchange, to Proger Managers & Partners. In return for the exercise of the right of conversion, Cadogan will hold 33% of the capital of Proger Ingegneria Srl. Fattori di rating (Key rating factors) • Business model and market positioning Proger operates in four lines of business: Multidisciplinary Engineering (M.E.), Infrastructure & Real Estate (approximately 58.1% of the Value of Production, VdP, 2018), Oil & Gas (about 38%) and Security (1.4%) and Special Projects – Green Energy (2.4%). The Company develops its activity mainly abroad (67.7% of the VdP, in 2018), with a strong contribution from Saudi Arabia and Egypt, and in Italy (32.3% of the VdP), both through internal workforce and through subcontractors, according to the needs and types of orders acquired. The Company also operates with some local legal entities that are not currently consolidated in the results of Proger Spa, but whose financial statements are revised. It is the leading italian no-captive company in the sector and among the top 100 internationally (81st in 2018), benefiting from consolidated relationships with international players such as Eni and Leonardo, and national players, such as Terna, BNL and Anas. The Company is also a leader in the design of hospitals, with a consolidated track record on the national scene. • Key financial results The pre-final stand alone results show a VdP of 104.2 million euros, down on 2017 (-5.4% YoY), mainly due to a lower contribution from division M. E. (-27.8 million, -23% YoY), despite the growth of b.u. Oil & Gas (+11.2 million, + 12.2% YoY) and b.l. Infrastructure (+7.4 million, +7.4% YoY). EBITDA adj. increased to 9.9 million (9.2 million in 2017), thanks to b.l. Infrastructure(+3.5 million) which compensates for the reduction of the other b.u. (-0.7 million Oil&Gas and -0.9 million M. E.). The EBITDA margin, similarly, grew to 9.4% (8.3% in 2017), due to the different mix of b.u., the largest contribution of which derives from the B.L. Infrastructure and M. E., characterized by a greater margin. EBIT is suffering the same trend as EBITDA (7.9 million in 2018 vs 7.3 million in 2017, +7.1% YoY), compared with constant depreciation and amortization (1.9 million in 2018). Peg financial management for higher foreignexchange losses(0.4 million in 2018 vs 0.2 in 2017) and financial charges (1.7 vs 1.5 million) due to increased entrustments, with ebit coverage interest at 4.72x. Net profit is expected to be 4.1 million, in line with 2017 (4.0 million). From a financial point of view, the adjusted PFN for leasing stands at 32.4 million euros, an increase of 5.8 million euros compared to 2017, with an adj./EBITDA ADJ. PFN at 3.28x. As far as legal entities are concerned, revenues amount to approximately 20 million (13.4 million in 2017), with EBITDA of 2.2 million (1.8 million in 2017) and liquidity of 3.5 million, while the financial debts referred to them are in the hands of Proger SpA. The PFN adj / EBITDA adj pro- form, as a result, stands at 2.92x. The order book at 31/12/18 amounts to approximately EUR 345 million, consisting mainly oforders in Saudi Arabia and Tunisia andframework agreements with Eni and Terna. The backlog, together with the 31/12/18 pipeline of approximately 674 million, guarantee visibility to the development of the plan (VdP expected to 168.8 million in 2019 and peak at 238.6 million in 2021). • Liquidità (Liquidity) The trend in operating liquidity denoted a negative balance of 6.3 million, due to the significant negative change in the CCN that totally absorbs the Gross Operating Cash Flow. The trend is impacted by the choice to finance some strategic suppliers, obtaining improvement economic conditions tosupport marginality, without limiting their availability of bank trusts. As of 31/12/18, in fact, the Company maintained an adequate buffer of about 20million on thetrust, useful for the development of the future growth plan. The increase in paid capital will also allow new financial resources to be raised with banks or private debt, in support of the growth plan. Key risk factors • Market risk The Group is heavily dependent on macroeconomic and geopolitical dynamics, both internationally and nationally. With regard to abroad, it constantly monitors the country risk both before participation in a tender and periodically during the development of the orders in place. Similarly, in Italy, specific analyses are carried out to assess the creditworthiness of potential contractors before and during the development of a contract. • Operational risk Individual orders are subject to the risk of delays and slippage, covered by insurancepolicies. The Group's prospective results depend heavily on the performance of the first four projects (about 87% of the 2019 VDP). • Financial risk The Group is exposed to fluctuations in the interest rate on existing variable-rate loans, neutralised through the use of derivative hedging instruments (IRS on the aforementioned type of financing contracts). The Group limits currency risk by adopting a natural hedge policy on foreign orders. Rating assumptions • Production development in 2019-2020 in line with the business plan in terms of revenues and margins, unlike in 2018 due to the delayed capital increase in support of the growth plan • Sustainable growth of the CCN, with a progressive reduction in average days of collection as a result of the credit management policies initiated by management in 2017 • PFN growing in line with business development, with PFN/EBITDA < 2.75x and EBIT interest coverage > 6.0x in 2019-2020 • Completion of the acquisition plan in 2019 and development of expected constant flows in the Business Plan Rating sensitivities • A trend in line with rating assumptions will allow the maintenance of the current rating class • A deterioration in economic and financial performance compared to credit rating assumptions could lead to a downgrade of the assigned rating The methodology used can be consulted on the Cerved Rating Agency website – www.ratingagency.cer Chairman of the Rating Committee: Cristina Zuddas – cristina.zuddas@cerv Cerved Rating Agency's rating, issued pursuant to Regulation (EC) 1060/2009 and subsequent amendments and additions, is an opinion on the merits of creditand that expresses in summary the ability of the evaluated entity to meet its obligations on time. Cerved Rating Agency's rating does not constitute investment advice or a form of financial advice; it does not amountto recommendations for the sale and holding of securities or for the holding of particularinvestment |
Posted at 19/1/2021 22:18 by brumbrum79 Until now No news about Astrogaz LLC and legal battle for Pirkivska license area.Radar & Sonar switched ON. This is not a good news: Cabinet of Ministers signs PSA on seven UGV sites, DTEK Naftogaz, Zakhidnadraservis and Geo Alliance Today at 11:00 in the Cabinet of Ministers, the Prime Minister of Ukraine Denis Shmygal and representatives of four companies, winners of PSA competitions, signed the long-awaited production sharing agreements (PSA) for 7 oil and gas fields. Thus, JSC Ukrgazvydobuvannia (part of the Naftogaz Group) concluded a PSA for four sections: Buzivska, Ivanivska, Balakliyska, Berestyanska. DTEK Naftogaz LLC has concluded an agreement on the distribution of products to the Zinkiv site, Geo Alliance LLC to Sofiyivska, and Zapadnadraservice, represented by Well Co LLC, to the Uhniv site. This was reported to ExPro by company representatives. Tenders for these agreements took place in 2019. Representatives of the Interdepartmental Commission for the Organization and Implementation of Production Sharing Agreements and investors conducted significant systematic work to form mechanisms for implementing Production Sharing Agreements, given that a year and a half has passed since the winners were announced. During this time, many political and economic changes have taken place, and the most painful for the implementation of PSA projects have been the price crisis in the hydrocarbon market, and the pandemic that has led to a global decline in economic activity. It should be noted that these seven projects for the implementation of oil and gas activities in subsoil areas, taking into account long-term prospects, are primarily designed to increase domestic gas production and further abandon import dependence. It will be recalled that Production Sharing Agreements are a systemic tool for the formation of state policy in the implementation of projects with investments in subsoil development and infrastructure construction. 13:01 / 31 December 2020 Link (Ukrainian Language): hxxps://expro.com.ua 'DTEK Naftogaz LLC has concluded an agreement on the distribution of products to the Zinkiv site' -> Zinkivska - Oil & Gas Overseas Trading BV and Naftogazkspluatatsiy Zinkivska included Pirkivska license (Astrogaz LLC) ____________________ Some good news for Natural Gas Trading activity: Daily gas consumption in Ukraine reached a record 200 million cubic meters against the background of cold weather Daily consumption of natural gas in Ukraine on January 18 is expected at the level of 200 million cubic meters, 20 million cubic meters (11%) higher than the previous day (180 million cubic meters). This was announced by the director of GTS Ukraine Operator LLC Serhiy Makogon. According to ExPro, this is the highest value for the last 4 years. The sharp increase in consumption is due to lower temperatures throughout Ukraine. "The GTS system works normally," Makogon said. We will remind, during 2020 the population of Ukraine consumed 8,15 billion cubic meters, on 12% lower, than the average indicator for the last three years. Link (Ukrainian language): hxxps://expro.com.ua Review of the Ukrainian gas market for January 11-15 The first half of January was ambiguous in the Ukrainian gas market. The activity of natural gas trade during the first decade was minimal. Prices for natural gas (January resource and gas in underground storage) in the first week of January fluctuated in the range of 8,000 - 8,300 UAH / thousand cubic meters. After a long weekend, from January 11 the market gradually enters the usual mode. During the week (January 11-15), the market was mainly traded in January and gas in underground storage. Natural gas prices in Ukraine last week repeated the dynamics of prices in Europe. The resource of January at the beginning of the week (January 11) traded in the range of 8,250 - 8,400 UAH / thousand cubic meters, closer to the middle of the week it rose to 8,900 - 9,000 UAH / thousand cubic meters. However, by the end of the week they are again decreased - to 8,200 - 8,400 UAH / thousand cubic meters, although on the last day there were offers and cheaper - at 8,000 UAH / thousand cubic meters. Gas prices in underground storage facilities on Monday (January 11) fluctuated in the range of 8,200 - 8,350 UAH / thousand cubic meters. At the end of the week gas in storage was also traded at 8,200 - 8,350 UAH / thousand cubic meters. At the peak of prices (Tuesday evening) - Wednesday morning) offers of individual traders for the January resource exceeded UAH 10,000 / thousand cubic meters. Prices reached the highest values for the last two years (since February 2019). Some of the Ukrainian traders note that the prices were reduced, first of all, by large foreign gas importers. "Large importers with foreign owners were the first to hurry to reduce prices. "Even Naftogaz held on to the end, which is rather strange," one trader commented. With the end of the first half of January, the number of offers for the sale of the resource in February on the market is growing. Prices for the February resource during the week also decreased - to 8,250 - 8,400 UAH / thousand cubic meters at the end of the week. However, demand for it remains weak. According to traders, end consumers are in no hurry to buy, waiting for further price reductions and the release of mining companies with their own offers. "I think the main trade in February will take place in the last week of January. Next week, everyone will just look closely, the deals will be individual, and the entire bulk - in the last days of the month, "- said a representative of one of the mining companies. The price offers of mining companies, according to traders, may become the main pricing factors for resource prices in February. According to ExPro, some mining companies plan to start selling the February resource next week. The activity of natural gas trading on the Ukrainian Energy Exchange TV is relatively high, but gas is sold mainly by Naftogaz Trading. The leader in sales remains Naftogaz Trading LLC - 103 million cubic meters of resource in January and 1 million cubic meters of gas in underground storage with transfer in February. The weighted average price is UAH 8,938 per thousand cubic meters. The gas was also sold by Ukrainian Gas Trading LLC - 850,000 cubic meters of gas to the underground storage facility with a transfer in January at the weighted average price of UAH 8,535 / thousand cubic meters. Public procurement Prozorro. Kharkiv KEV is looking for a supplier of 2.5 million cubic meters of gas with an expected price of UAH 8,800 / thousand cubic meters (including VAT). Zhytomyr KEV will purchase 2.6 million cubic meters of gas with an expected price of UAH 7,676 / thousand cubic meters (including VAT). Both auctions are scheduled for March 22, 2021. ERU Trading LLC and Energy Trade Group LLC will supply gas to Ukrtransgaz JSC. ERU Trading will supply 20.33 million cubic meters of gas at the price of UAH 6,476 / thousand cubic meters (including VAT), and Energy Trade Group will supply 3.87 million cubic meters of gas at the price of UAH 6,603 / thousand cubic meters ( with VAT). Gas supplies are calculated by the end of 2021. Ecotechnoinvest LLC has entered into an agreement with Antonov for the supply of 2.6 million cubic meters of gas at a price of UAH 6,800 / thousand cubic meters (including VAT) until January 31, 2021. The previous supplier of Antonov was Energogazreserv LLC, which supplied 7.6 million cubic meters of gas at a price of UAH 6,000 / thousand cubic meters (including VAT) by December 31, 2020. Spot prices for natural gas in Europe over the past week have shown significant volatility. At the beginning of the week, Day Ahead prices fluctuated in the range of € 19.2-20.8 / MWh, during Monday-Tuesday they increased by 28% - to € 24.6-27.2 / MWh. On Tuesday, the Dutch TTF recorded a record daily increase in futures prices - over € 6 / MWh - to € 28,785 / MWh, a record value since September 2018. The reasons for rising prices - weather and LNG prices in Asia. Quotes on the Asian JKM on Tuesday renewed a historic high - above $ 30 / MMBtu against the background of gas shortages. All LNG goes to Asia, so supplies to Europe are minimal. At the same time, the rise in prices on Tuesday is called speculative - primarily due to the closure of positions by US hedge funds. From the beginning of Wednesday until the end of the week, gas prices in Europe fell as sharply as they rose in the first half of the week. As of early Friday, Day Ahead prices ranged from € 20.1-22.1 / MWh to about € 20 / MWh by the end of the day. The reasons for the decline - recovery from speculative growth, as well as lower LNG prices in Asia and updated weather forecasts for late January - first half of February, which show warming. Gas extraction from European storage facilities for the reporting week averaged 1.1 billion cubic meters, which is 3% more than last week. However, gas extraction from LNG terminals decreased by 10% compared to the previous week and ranged from 150 to 174 million cubic meters per day. In the first 13 days of January, more than 13 billion cubic meters of gas were extracted, 15% less than in the same period of 2020. As of January 13, 70.5 billion cubic meters of gas were stored in European underground storage facilities, of which 2.7 billion were in LNG tanks. In February, futures prices for the resource on the Dutch TTF during the first half of the week increased by 30% - from € 20.1 / MWh on Monday to € 26.2 / MWh at the end of Tuesday. By the end of Friday, they had fallen by 23% to € 20,075 / MWh. 11:08 / 18 January 2021 Link (Ukrainian Language): hxxps://expro.com.ua UEEX: Resource Weighted average price with VAT(on all payment terms), UAH/1.000 cub. m February 2021 - 8.455,10 January 2021 - 7.924,14 December 2020 - 6.329,75 November 2020 - 6.101,31 October 2020 - 5.983,81 June 2020 - 3.692,34 February 2020 - 5.764,30 January 2020 - 5 763,78 December 2019 - 5 307,08 November 2019 - 5 819,78 October 2019 - 5 140,78 The Ukrainian Natural Gas Market seems to perform very well in this Heating Season, both NG price and consumption. Imho, Cadogan's NG Trading Activity should be able to recover the previous impairment on the NG Stock (FY2019 and HY2020 -> impairment on NG 2/2,5 Usd Millions). ____________________ Someone thinks/thought 'Proger is not transparent'.. Are you sure? This is the transparency of Cadogan's Management (fady & co.).. CADOGAN PETROLEUM HOLDINGS LIMITED (Sub-Holding -> 100% Cadogan Petroleum Ltd.) Company number 05255092 Registered office address 6th Floor 60 Gracechurch Street, London, United Kingdom, EC3V 0HR Company status Active Company type Private limited Company Incorporated on 11 October 2004 Accounts overdue (by 19 days) Next accounts made up to 31 December 2019 due by 31 December 2020 Last accounts made up to 31 December 2018 Links: In the last 3 years (2017-2019), with the previous management, Cadogan Petroleum Holdings Limited (Sub-Holding) filled Full Accounts before 30 september. ____________________ ByeBye |
Posted at 20/12/2020 15:50 by researchcentre123 Proger isn't public. I don't know how they work in relation to their shareholders, other than getting money in as capital rather than debt which is to their benefit and Cadogan's detriment. Clearly though Cadogan don't care about small investors as the majority shareholders have total control so can do whatever they want with the company's money and keep control without fear of being voted out. So I imagine there is not much interest in keeping small investors informed. |
Posted at 13/11/2020 09:46 by diesel DSCT...good luck with the research, trying to make sense of this companies activities won’t be easy. I invested a small amount here some years ago as they had quite a cash pile, a couple of years ago they made what appears to be a loan to an Italian industrial company called Proger, on what appears to be good terms. However it’s main business is oil exploration and production in the Ukraine, not an easy place to operate from a legislative viewpoint. There was a management coup by one of the large investors but that didn’t bring any more clarity.Just some of the background, all a bit murky really. |
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