Cadogan Energy Solutions Share Discussion Threads

[researchcentre123] 14/12/2020 16:43

New to looking at this share because of their cash. Anyone know what happened with the shareholder rebellion last year when Fady was appointed - who proposed it and what's their angle? Whose idea was Fady? Was there any legitimate commercial basis to the 13m loan or was it just a loan to a mate? Am trying to work out if the board argued amongst themselves or outside shareholders precipitated it. Thank you

[diesel] 14/12/2020 10:25

Small investment here, only reason for staying is their cash position and Proger.
A small oil O and G op in the Ukraine was always going to be hard going, even without the beaurocratic difficulties. Staying with my small investment here to see how it plays out.

[russman] 14/12/2020 07:06

Don't think Proger can raise the cash for repayment at the moment; probably extend the loan.
Obviously would demand more control over Proger; even 51%.

[thordon] 13/12/2020 19:31

Proger Ingegneri have given data regarding the performance , from this data would make a decision to convert Warrants for 33% of company or cash in for just over $16 million cash.
Should get a decision in late January.
Also a judgment on the licence not extended by the courts decision to approval or reject.
Interesting times ahead.

[targatarga] 08/12/2020 11:54

My feelings point towards delisting. Main holders could make a concert party of 50%+ imho

[russman] 08/12/2020 08:07

loan repayment is due in Feb.

[thordon] 07/12/2020 22:04

Anyway bought Cadogan ( CAD ) Shares , would not normal buy a low company value at £6.7 million but they have $11 Million in cash ; loaned out $13 million with options in a company for 33% of company shares in Proger Ingegneria or a 5% compounded interest return.
Gas prices rising so should turn profit in 2nd half and not sold gas in first half ( Stored including oil )
Question why the undervaluation , the Proger Ingegneria options if used is worth $20 million estimated by a broker.

[brumbrum79] 05/12/2020 23:02

Last but not least... one year of the new management...

* bad governance;
* no informations/news to the Stakeholders;
* no trasparency or lack of trasparency towards the Stakeholders;
* no new business;
* no new project(s);
* no new idea(s);
* no diversification;
* minimal investments in the Blazhiv Oil Field -> a new crude oil storage;
* no investments to increase Oil production;
* no implementation of electric energy project (NG energy generation -> 400/800Kwh) using associated gas(es) produced in the Blazhiv Oil Field;
first, every day associated gas are flaring -> the gas flare produces CO2 -> CO2/Carbon Credits are a cost for the company -> no revenues from sales of electric energy to the ukrainian grid but only costs for Cadogan;
second, every day the field operator buys electric energy (and heat) from third parties -> only costs for Cadogan;

* "fabulous" share price performance from November 2019 to now (-50%).. I'd like to remember Meeus'/shareholders requisition letter...
It's unbelievable(!), really a "Greatest"(!) performance;

It's enough..

ByeBye
BrumBrum

[brumbrum79] 05/12/2020 22:25

some news/updates:

* Astrogas LLC - Pirkivska License:


Спр;авk2; № 640/12569/19 суд;овk2; пов;ісm0;ка про; вик;лиl2; у суд;овk7; зас;ідk2;нн03; на 19 січ;ня 2021 рок;у



02 гру;днn3; 2020 рок;у

Спр;авk2; № 640/12569/19



ПОВ;ІСi8;КА-
055;ОВІДОМЛЕННЯ;*



3-я осо;ба :

Ком;паl5;ія "Ой лен;д Гез; Еве;рсo0;з Тре;йдo0;нг Бі.h2;і"

Стр;авo0;нс 82;іл
072;ан 1531, веж;а Б, 15по 74;-х, Сек;ціn3; Тв-15-046,

Амс;теl8;да 84;, Нід;ерl3;ан 76;и



Шос;тиl1; апе;ляm4;ій 85;ий адм;інo0;ст 88;ат
080;вний суд; пов;ідl6;мл03;є Вас; про; роз;глn3;д апе;ляm4;ій 85;их ска;рг Тов;арl0;ст 74;а з обм;ежk7;но02; від;поk4;ід 72;ль
085;істю "Асm0;ро 75;аз", Тов;арl0;ст 74;а з обм;ежk7;но02; від;поk4;ід 72;ль
085;істю "Наm2;то 75;аз
077;ксплуатація;" на ріш;енl5;я Окр;ужl5;ог 86; адм;інo0;ст 88;ат
080;вного суд;у міс;та Киє;ва від; 06 жов;тнn3; 2020 р. у спр;авo0; за адм;інo0;ст 88;ат
080;вним поз;овl6;м Тов;арl0;ст 74;а з обм;ежk7;но02; від;поk4;ід 72;ль
085;істю "Асm0;ро 75;аз" до Дер;жаk4;но11; слу;жбl0; гео;лоk5;ії та над;р Укр;аїl5;и, тре;ті осо;би: Тов;арl0;ст 74;о з обм;ежk7;но02; від;поk4;ід 72;ль
085;істю "Наm2;то 75;аз
077;ксплуатація;", Ком;паl5;ія "Ой лен;д Гез; Еве;рсo0;з Тре;йдo0;нг Бі.h2;і" про; виз;наl5;ня без;діn3;ль 85;ос
090;і про;тиl7;ра 74;но
102; та зоб;ов'03;за
085;ня вчи;ниm0;и дії;, яки;й від;буk6;ет00;ся о 10:10 "19" січ;ня 2021 р. за адр;есl6;ю: вул;. Мос;коk4;сь 82;а, 8, кор;п. 30, м. Киї;в, 01010 (гоl3;ов 91;юч
080;й суд;дя - Пил;ипk7;нк 86; Оле;на Євг;енo0;їв 85;а, зал; суд;овl6;го зас;ідk2;нн03; № 1).

У від;поk4;ід 85;ос
090;і до ч. 2 ст. 313 КАС; Укр;аїl5;и нея;вкk2; сто;ріl5; або; інш;их уча;снl0;кі 74; спр;авl0;, нал;ежl5;им чин;ом пов;ідl6;мл 77;ни
093; про; дат;у, час; і міс;це роз;глn3;ду спр;авl0;, не пер;ешl2;од 78;ає роз;глn3;ду спр;авl0;.

Сек;реm0;ар суд;овl6;го зас;ідk2;нн03; ________________ Вас;илk7;нк 86; Юлі;я Анд;ріo1;вн 72;

* від;поk4;ід 85;о до п. 6 ч. 2 ст. 125 КАС;У, осо;ба, яка; оде;ржk2;ла пов;ісm0;ку у зв’;язl2;у з від;суm0;ні 89;тю адр;есk2;та, зоб;ов̵7;яз 72;на нег;айl5;о пов;ідl6;ми 90;и про; неї; адр;есk2;та

Links:

hxxps://6aa.court.gov.ua/sud4855/pres-centr/news/1032894/

hxxps://6aas.gov.ua/ua/dopinfo/sudovi-povistky/4286-sprava-640-12569-19-sudova-povistka-pro-viklik-u-sudove-zasidannya-na-19-sichnya-2021-roku.html

English version:


Case № 640/12569/19 summons to court on 19 January 2021



December 2, 2020

Case № 640/12569/19



MESSAGE-MESSAGE *



3rd person:

Oy Land Gez Eversis Trading BV

Stravinskylaan 1531, Tower B, 15 floors, Section TV-15-046,

Amsterdam, The Netherlands



The Sixth Administrative Court of Appeal informs you about the consideration of the appeals of the Limited Liability Company "Astrogaz", the Limited Liability Company "Naftogazkspluatatsiya" against the decision of the District Administrative Court of Kyiv dated October 6, 2020 in the case of the administrative liability of the Limited Liability Company "Astroga" to the State Service of Geology and Subsoil of Ukraine, third parties: Limited Liability Company "Naftogazsekspluatatsiya", Company "Oy Land Gez Eversis Trading BV" on the recognition of inaction illegal and the obligation to take action, which will take place at 10:10 "19" January 2021 at the address: st. Moscow, 8, building. 30, Kyiv, 01010 (presiding judge - Pylypenko Olena Yevheniivna,courtroom № 1).

In accordance with Part 2 of Art. 313 CAS of Ukraine non-appearance of the parties or other participants in the case, duly notified of the date, time and place of the case, does not preclude consideration of the case.

Secretary of the court hearing __________________ Vasylenko Yuliya Andriivna

* in accordance with paragraph 6 of Part 2 of Art. 125 CASU, the person who received the summons in connection with the absence of the addressee, must immediately notify the addressee

...
Now We know it, some news/update after 19 January 2021.
...

[russman] 13/11/2020 21:02

Proger appears to be fully discounted in the share price / NAV.

[waveneygnome] 13/11/2020 11:53

Add to that most of the shares are held by a few 'related parties', whom are perfectly content for the company to tick over/not do much.....there is no drive from them to grow the company.

[diesel] 13/11/2020 09:46

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.

[dsct] 12/11/2020 20:01

Hello Gents and Ladies,

CAD has appeared on one of my simple searches/filters, and whilst I'm DMOR (Doing My Own Research), I thought I'd be cheeky and ask for any overview or information anyone can give, for me to include in my research.

Market Cap £7.5m
Enterprise value -£14m (This I need to confirm)
P/TBV 0.18

I will :
be going back over the past post on here (but not all 19,000+)
look back on RNSs
go through Annual Report(s)

Just to add, I have no knowledge of this sector, so laymans terms would be appreciated ! lol

Thank you, in advance.

[targatarga] 04/11/2020 08:03

Hi BrumBrum - I wonder what the company thinks about this!

[brumbrum79] 03/11/2020 21:27

Спр;осm0;ув 72;нн
103; інф;орl4;ац10;ї щод;о ком;паl5;ії ТОВ; «Асm0;ро 75;аз»

Спр;осm0;ув 72;нн
103; інф;орl4;ац10;ї щод;о ком;паl5;ії ТОВ; «Асm0;ро 75;аз»

У вип;усl2;у тиж;неk4;ик 72; Weekly ExPro Gas&Oil (#43) 300 на сто;ріl5;ці 9 бул;о опу;блo0;ко 74;ан
086; нов;инm1; «Суk6; зоб;ов̵7;яз 72;в Дер;жгk7;он 72;др
072; роз;глn3;ну 90;и зая;ву «Асm0;ро 75;аз» на отр;имk2;нн03; спе;цдl6;зв 86;лу на Пір;кіk4;сь 82;е род;овl0;ще». В ост;анl5;ьо 84;у абз;ацo0; нов;инl0; бул;о опу;блo0;ко 74;ан
086; нас;туl7;ну інф;орl4;ац10;ю: «Прl6;те в 2019р бри;таl5;ці про;даl3;и «Асm0;ро 75;аз» біз;неl9;ме 85;у Мик;олo0; Зло;чеk4;сь 82;ом
091;, вла;снl0;ку Burisma Group».

Ред;акm4;ія ExPro спр;осm0;ов 91;є дан;у інф;орl4;ац10;ю та пов;ідl6;мл03;є, що Cadogan Petroleum в 2019р не зді;йсl5;юв 72;ла про;даk8;у кор;поl8;ат 80;вн
080;х пра;в ТОВ; «Асm0;ра 75;аз». Ста;ноl4; на сьо;гоk6;ні уча;снl0;ка 84;и ТОВ; «Асm0;ро 75;аз» є ком;паl5;ії Кад;огk2;н Пір;кіk4;сь 82;е Б.В. та ТОВ; «Каk6;ог 72;н Укр;аїl5;а», мат;ерl0;нс00;ко
102; ком;паl5;іє02; яки;х є ком;паl5;ія Cadogan Petroleum.

Раз;мо з тим; пов;ідl6;мл03;єм
086;, що в кін;ці 2019р, ком;паl5;ія БРО;СІi8;І ІНВ;ЕСi8;МЕ 53;ТС ЛІМ;ІТh5;Д (Кіl7;р), яка; нал;ежl0;ть біз;неl9;ме 85;у Мик;олo0; Зло;чеk4;сь 82;ом
091; (влk2;сн 80;ку Burisma Group), при;дбk2;ла у Cadogan Petroleum інш;у доч;ірl5;ю ком;паl5;ію - ТОВ; «Асm0;ро10;нв
077;ст-Україн;а».
18:00 / 30 жов;тнn3;, 2020

Link:
hxxps://expro.com.ua/novini/sprostuvannya-nformac-schodo-kompan-tov-astrogaz

Rebuttal of information about Astrogaz LLC

The issue of the weekly Weekly ExPro Gas & Oil (# 43) 300 on page 9 published the news "The court ordered Gosgeonadra to consider Astrogaz's application for a special permit for the Pirkivskoye field." The last paragraph of the news published the following information: "However, in 2019, the British sold" Astrogas "to businessman Nikolai Zlochevsky, owner of Burisma Group."

ExPro denies this information and reports that Cadogan Petroleum in 2019 did not sell the corporate rights of Astragaz LLC. As of today, the participants of Astrogaz LLC are the companies Kadogan Pirkivske BV and Cadogan Ukraine LLC, whose parent company is Cadogan Petroleum.

However, at the end of 2019, BROCITY INVESTMENTS LIMITED (Cyprus), owned by businessman Mykola Zlochevsky (owner of Burisma Group), acquired another subsidiary from Cadogan Petroleum - Astroinvest-Ukraine.
18:00 / October 30, 2020

[brumbrum79] 20/10/2020 11:56

Last but nor least, the Ukrainian natural gas market is performing well.
The NG price is going up (in line with NG price of european gas hub), imho Cadogan Petroleum NG trading activity could recover - partially or totally - the impairment about stocked Natural Gas acquired during 2019.

Informations/news about Ukrainian natural gas market can be found here:
hxxps://www.ueex.com.ua/eng/exchange-quotations/

ByeBye

BrumBrum

[brumbrum79] 20/10/2020 11:42

Imho, it's better for small shareholders/minorities doesn't sell their Cadogan's shares now.

The lack of transparency and news/informations of Management board about Cadogan's activities/subsidiaries is in line with "their target".

ByeBye
BrumBrum

[targatarga] 20/10/2020 08:00

Wonder if Fady will buy that 200k sell?

[russman] 15/10/2020 07:20

the mcap is small

[brumbrum79] 14/10/2020 20:48

I'd like to remember and share these informations:

Pirki(o)vska license (Cadogan Petroleum's Working Interest 100% - 88 km2 - Natural Gas & Condensate) -> Reserves & Resources (indicated in the Cadogan Petroleum Presentation May 2017):
2P 0,03 MMBOe; 3P 12,7 MMBOe; 2C 6,2 MMBOe;
Prospective Resource Best Estimate 5,0 MMBOe;

It's not bad...

ByeBye
BrumBrum

[targatarga] 14/10/2020 07:32

Interesting that Fady was buying after the ruling. I suppose Cadogan might make an announcement to the market.

[brumbrum79] 14/10/2020 07:14

TargaTarga, imho these are 2 (very) Good news for Cadogan and its Shareholders.

ByeBye
BrumBrum

[russman] 14/10/2020 07:13

Signs of life.