Cadogan Energy Solutions Share Discussion Threads

[spangle93] 01/10/2021 07:09

Bit of a terse RNS - I'm nonethewiser whether I should feel richer as a result...

[thordon] 26/9/2021 10:39

Cadogan Petroleum Holdings BV (Holland) vs PMP Srl for PMP/Progre Loan

Tried searching when case is due , but no success.

[brumbrum79] 25/9/2021 18:28

24.09.2021
Tunisia-Italy power interconnection project
The "bridge" that will connect the electricity systems of Europe and Africa

Proger, in JV with HPC (lead partner), IDEA Consult, ELARD and Plexus Energy, is responsible for the preparation of environmental and social impact assessment (ESIA) studies and a resettlement action plan (RAP) for the Tunisia-Italy power interconnection project (TUNITA).

TUNITA, developed by the Italian and Tunisian transmission system operators, TERNA and STEG, and financed by the World Bank, is considered a Project of Community Interest (PCI) of strategic importance for the electricity transmission system in the Mediterranean basin and will provide an additional tool to optimise the use of energy resources between Europe and North Africa. The 600 MW DC ultra-high voltage submarine electricity link will connect the Partanna power station (in the province of Trapani) with a corresponding station on the Tunisian peninsula of Cape Bon via a 200 km submarine cable.

The objectives of the project are manifold and aim to optimise the use of energy resources between Europe and North Africa, with benefits for the Italian and European electricity system in terms of sustainability, integration of markets and renewable sources, while respecting the Green Deal and reducing CO2 emissions.

Proger and the JV are committed to the preparation of in-depth environmental and social impact studies, which are a prerequisite for the feasibility of the project and to ensure that all the works are carried out with the utmost care for the territory and the environment, in particular for the protected areas that are part of the Natura 2000 network, minimising the impact on the landscape, the coastal landing areas and the seabed.

Link:
hxxp://www.proger.it/en/tunita-interconnessione-elettrica/

[russman] 24/9/2021 05:53

Therefore, I refer you to the market price. As it says on the packet, caveat emptor.

[waveneygnome] 19/9/2021 09:44

£0...............this is effectively being run as a private company. The shares are tightly held by known parties. Little transparency, certainly no real attempt to engage with wider shareholders.

[russman] 19/9/2021 07:23

Depends what value you attach to the outstanding Proger loan.

[dougdig] 17/9/2021 13:24

Has anyone got a "fag packet" valuation - current share price seems unfairly low to me...

[targatarga] 17/9/2021 10:50

Everything about Cadogan has always been Shady. Fady will continue to pick up cheap shares as and when he's able... wouldn't surprise if he's sniffing around for more!

[russman] 17/9/2021 04:04

Proger Managers (unsurprisingly) appears to have common shadow directors. Their pyramid would crumble if Proger Managers defaults.
It is obvious they have not got cash for full repayment.
Offer Proger a repayment plan on CAD's terms.

[researchcentre123] 15/9/2021 10:06

Thanks so have Proger been buying back their own shares using Cadogans money or is there some other scheme afoot?

[researchcentre123] 13/9/2021 12:32

I thought it was a Court case not an arbitration? It's not actually Proger who are going to court here but a company that owns shares in them. It was presumably set up like this by both sides at the time so Cadogan wouldn't be able to claim anything other than a minority interest in some shares. If it had been a bank lending, they would have insisted on lending direct to Proger so there was some security. I haven't seen Progers balance sheet but something tells me they don't have a lot of hard assets there. If I were Cadogan, I'd be investigating the previous management.

[thordon] 10/9/2021 18:12

Sorry just seen the previous page

[thordon] 10/9/2021 18:10

Not bad half year accounts

[russman] 09/9/2021 16:43

Proger arbitration is dragging on too long.
Proger will not win many more contracts if they are seen to be "unbusinesslike" in their dealings.
Or "untrustworthy".

[waveneygnome] 09/9/2021 07:44

Which will never materialise...........

[huffster] 09/9/2021 07:04

Plus the £12.7m due from Proger…

[spangle93] 09/9/2021 06:48

Half Year report



Cash = $14.7MM = £10.7MM
Market cap = £8.1MM

What was that saying about markets being irrational for longer than we stay solvent?

[researchcentre123] 09/9/2021 06:43

Litigation usually takes 2 or 3 years. Proger are buying time. The issue really is how can the loan be enforced if Cadogan do get judgement. So if they get the shares, what would a minority stake in an unlisted company be worth. We've heard nothing of the supposed director they are meant to have on the board. Personally I wouldn't want shares in Proger if they are obtained in a hostile way, as they would just pay no dividends and take all the cash out in salaries....unless they have some plans to go public, which we have heard nothing of. My guess is the assets will get stripped out leaving a shell and the business moved to a new company...not that I know of course, but if someone just doesn't want to pay, that would be the most logical way of dealing with the matter.

[brumbrum79] 08/9/2021 23:18

Half-Year Financial Report.. this week or next?


Thordon, I could write more than a book.. Cadogans Saga

[thordon] 08/9/2021 20:38

Thanks brumbrum79 you could right a book about this and sell millions

[brumbrum79] 07/9/2021 21:53

Astro-Service LLC (ТОh2; "АСi8;РО-
057;ЕРВІС") litigation vs. Main Department of the State Tax Service in Ivano-Frankivsk region

Links (ukrainian language):

hxxps://youcontrol.com.ua/catalog/court-document/99005195/

hxxps://youcontrol.com.ua/catalog/court-document/98674704/


Litigation recap:

Yusenco Nadra vs. Geonadra ukraine for Bytlianska License Award

Astrogas LLC vs. Geonadra ukraine for Pirkivska License Award

Astroinvest-energy LLC vs. Main Department of the State Tax Service in Poltava region for Taxes

Astro Service LLC (ТОh2; "АСi8;РО-
057;ЕРВІС") litigation vs. Main Department of the State Tax Service in Ivano-Frankivsk region for Taxes

Cadogan Petroleum Holdings BV (Holland) vs PMP Srl for PMP/Progre Loan


More litigations than Oil Producing wells...

[russman] 05/9/2021 06:17

Unless there is some positive news on repayment of the Proger "loan" soon; it will be classed as doubtful.

[brumbrum79] 03/9/2021 10:18

Proger Group - new agreement in Egypt

03.09.2021
Proger Egypt signs a collaboration agreement with Petromaint and Drexel

Alexandria Petroleum Maintenance Company (Petromaint) has signed a cooperation agreement with Proger Egypt and Drexel.
Proger’s Egyptian legal entity further expands its commercial horizon thanks to this agreement with two major companies in the country. Petromaint is a construction company specializing in the revamping and maintenance of oil, petrochemical and industrial plants operating in Egypt, the Middle East and Africa. Drexel is one of the most important Egyptian companies, with over 40 years of experience, offering products and services in the petrochemical, fertilizer and energy sectors.

Proger Egypt JSC is the company through which Proger has been operating in Egypt since 2017, with important EPC and O&M contracts in the oil & gas and civil sectors.

Link:
hxxp://www.proger.it/en/proger-egypt-accordo-petromaint-drexel/

ByeBye