Cadogan Energy Solutions Share Discussion Threads

[targatarga] 19/11/2019 08:13

At least it gives them a chance to clean the wax from the equipment!

[diesel] 19/11/2019 08:07

Not totally surprised by latest news, I'm only in this because cash outweighs MCap.

[brumbrum79] 16/11/2019 23:57

An estimation of the Cash & Cash equivalents..
It would not be so difficult but the main problems are...

1) An 'Agreement to sale' is an 'Agreement to sale'...
'Closing the sale' or 'finalizing the sale' is an another thing.
Generally, the seller gets the consideration at the closing.

Cadogan never confirmed/comunicated (RNS) the closing of the sale of Gazvydobuvannya LLC.
Now we will wait if Cadogan confirms/comunicates (RNS) the closing of the sale of AstroInvest Ukraine LLC.

2) this period is the Heating Season (distribution and sales of the Natural Gas) - the Heating Season period: October->April.
Trading NG activity uses cash and credit line to buy and stock Natural Gas (increase inventories) for this period -> cash out flow (minimum 2-3 USD Million);

Assumption -> Cash In/Out flows from Operations/Operating Activities (E&P + Oil Services) neutral (+/- O USD).

Based on the assumption indicated before, (fair/conservative) estimation could be:

Cash & Cash equivalents 1H2019 (30 June '19) +13,724 USD Million.
Capex/Investments E&P Business Unit 2H2019 -1,0/-1,5 USD Million.
Sale of the 2 Eastern Companies (Gazvy + AstroInvest) +4,0 USD Million.
----------------------------------------

Cash & Cash equivalents +16,724/+16,224 USD Million.
----------------------------------------
Cash out flow for NG stock/inventory -2,0/-3,0 USD Million.
----------------------------------------
Net Cash & Cash equivalents in the range +14,7 / +13,2 USD Million.
________________________________________

Bye

[paulmurphy777] 16/11/2019 22:53

What's the cash position post sales? Is it possible a close a distribution is in the cards?

[911man] 15/11/2019 17:04

Just had a look at the new incumbents who are impressive. Will be an interesting ride but I have to agree that I was not entirely convinced about the need for the Proger investment.

[spangle93] 15/11/2019 16:40

Geez, not much support for the incumbents.

It's going to be a different world. I just hope that world isn't going to be a private one, for the benefit of the new directors rather than the existing shareholders

[911man] 15/11/2019 16:30

Did you go?

[itsriskythat] 15/11/2019 16:04

All resolutions passed with 94% of the votes cast. Successful lobbying for votes by Meeus.

[brumbrum79] 11/11/2019 21:43

Bytlianska license

MENR (Ministry of Ecology and Natural Resources of Ukraine) - Environmental Impact Assessment

Single registry


Іде;нтl0;фі 82;ац
110;йний ном;ер :

20192202902
Наз;ва

Тов;арl0;ст 74;о з обм;ежk7;но02; від;поk4;ід 72;ль
085;істю "Юсk7;нк 86; Над;ра"
Опи;с

Біт;ляl5;сь 82;а діл;янl2;а над;р

Адр;есk2;

с. Лоп;ушk2;нк 72;, с. Жук;отl0;н, с. Хащ;ів, с. Лім;на, смт;. Бор;инn3;, Льв;івl9;ьк 86;ї обл;асm0;і, Тур;кіk4;сь 82;ог
086; рай;онm1;
Обл;асm0;ь

Льв;івl9;ьк 72; обл;асm0;ь
Отр;имm1;ва 95;

УЦО;
КОА;ТУi9;

Тур;кіk4;сь 82;ий р-н


№: 20192202902/8780

Дат;а офі;ціl1;но 75;о опр;илn2;дн 77;нн
103;: 21.02.2019
Пов;ідl6;мл 77;нн
103; про; пла;ноk4;ан 91; дія;льl5;іс 90;ь

№: 20192202902/10089

Дат;а офі;ціl1;но 75;о опр;илn2;дн 77;нн
103;: 04.04.2019
Зау;ваk8;ен 85;я і про;поk9;иц10;ї гро;маk6;сь 82;ос
090;і до пла;ноk4;ан 86;ї дія;льl5;ос 90;і, обс;ягm1; дос;ліk6;же 85;ь

№: 20192202902/14560

Дат;а офі;ціl1;но 75;о опр;илn2;дн 77;нн
103;: 14.08.2019
Зві;т з ОВД;

№: 20192202902/14571

Дат;а офі;ціl1;но 75;о опр;илn2;дн 77;нн
103;: 14.08.2019
Вим;огk2; про; над;анl5;я умо;в щод;о обс;ягm1; дос;ліk6;же 85;ь

№: 20192202902/17165

Дат;а офі;ціl1;но 75;о опр;илn2;дн 77;нн
103;: 11.11.2019
Вис;ноk4;ок з оці;нкl0; впл;ивm1; на дов;кіl3;ля / ріш;енl5;я про; від;моk4;у

№: 20192202902/17166

Дат;а офі;ціl1;но 75;о опр;илn2;дн 77;нн
103;: 11.11.2019
Зві;т про; гро;маk6;сь 82;е обг;овl6;ре 85;ня

No: 20192202902/8780


ID number :

20192202902
Name

Yusenko Nadra, Limited Liability Company
Description

Bitlyanska area subsoil

Address

with. Lopushanka, village. Zhukotin, village. Khashchev, village. Limna, township Borynya, Lviv region, Turkiv district
Region

Lviv region
The recipient

UCO
KOATUU

Turkiy district

Date of official publication: 21.02.2019
Notification of planned activities

No: 20192202902/10089

Date of official publication: 04.04.2019
Comments and suggestions of the public to the planned activity, scope of research

No: 20192202902/14560

Date of official publication: 14.08.2019
ATS report

No: 20192202902/14571

Date of official publication: 14.08.2019
Requirement to provide conditions for scope of research

No: 20192202902/17165

Date of official publication: 11/11/2019
Environmental Impact Assessment / Refusal Decision

No: 20192202902/17166

Date of official publication: 11/11/2019
Public Discussion Report

Link: hxxp://eia.menr.gov.ua/places/view/2902

______________________________________________

Today MENR closed the administrative process of the Environmental Impact Assessment for Bytlianska License area...
(Imho, another step in the right direction for Renewal of the Bytlianska License)

Planned activities:

Пла;ноk4;ан 72; дія;льl5;іс 90;ь, її хар;акm0;ер 80;ст
080;ка.Розвід;ка пок;лаk6;ів вуг;леk4;од 85;ів у від;клk2;да 93; пал;еоk5;ен 91;, вив;чеl5;ня гео;лоk5;іч 85;ої буд;овl0; та вид;обm1;ва 85;ня вуг;леk4;од 85;ів.
Бур;інl5;я роз;віk6;ув 72;ль
085;их све;рдl3;ов 80;н No4-Вовче, No4-Бориня для; роз;віk6;ки пок;лаk6;ів вуг;леk4;од 85;ів.
Спо;сіk3; бур;інl5;я -роm0;ор 85;ий, ком;біl5;ов 72;ни
081; за доп;омl6;го02; бур;овl0;х вер;стk2;ті 74; з диз;елn0;ни 84; при;воk6;ом.
Вив;едk7;нн03; з кон;сеl8;ва 94;ії
090;а вип;роk3;ув 72;нн
103; све;рдl3;ов 80;н No3-Бориня та 21-Ло
087;ушанка-Ха;щіk4;.
Тех;ніm5;на аль;теl8;на 90;ив
072; 1. Бур;інl5;я све;рдl3;ов 80;н для; вид;обm1;ва 85;ня наф;ти, газ;убm1;де зді;йсl5;юв 72;ти
089;язадопомого;ю бур;овl0;хв 77;рс
090;атівздизель;ниl4; при;воk6;ом, від;поk4;ід 85;о до вим;ог чин;ноk5;о зак;онl6;да 74;ст
074;а, нор;маm0;ив 85;их акт;ів кон;трl6;лю02;чи
093; орг;анo0;в.
Тех;ніm5;на аль;теl8;на 90;ив
072; 2. Бур;інl5;я све;рдl3;ов 80;н для; вид;обm1;ва 85;ня наф;ти, газ;у буд;е зді;йсl5;юв 72;ти
089;я зад;опl6;мо 75;ою бур;овl0;хв 77;рс
090;атів зел;екm0;ри 95;ни
084; при;воk6;ом, від;поk4;ід 85;о до вим;ог чин;ноk5;о зак;онl6;да 74;ст
074;а, нор;маm0;ив 85;их акт;ів кон;трl6;лю02;чи
093; орг;анo0;в.

Planned activity, its characteristics. Exploration of hydrocarbon deposits in Paleogene deposits, study of geological structure and production of hydrocarbons.

Drilling of exploration wells No4-Vovche, No4-Boryn for exploration of hydrocarbon deposits.
The method of drilling is a rotary, combined with the help of diesel-powered drilling rigs.

Withdrawal from conservation and testing of wells No3-Boryn and 21-Lopushanka-Khashchiv.

Technical alternative 1. Drilling of oil wells will be carried out with the help of drilling rigs with a diesel drive, in accordance with the requirements of the current legislation, regulatory acts of the controlling bodies.
Technical alternative 2. Drilling of wells for oil and gas production will be carried out with the help of drilling machines with electric drive, in accordance with the requirements of the current legislation, regulatory acts of the controlling bodies.
----------------------------------------------------------------------------------

Bytlianska License works plan/E&P pipeline:
2 workovers + testing -> Borynia-3 well (NG - HTHP well - Borynia field), 21-Lopushanka-Khashchiv well (Oil shallow well - Vovchenska field);

2 new Wells for exploration -> Borynia-4 well (NG - HTHP well - Borynia field), Vovche-4 well (Oil shallow well - Vovchenska field);

__________________________________________________________________________________

Monastyretska License/Blazhiv Field

MENR administrative process of the Environmental Impact Assessment for Utilization of associated petroleum gas in the Monastyretska/Blazhiv field is ongoing...

Іде;нтl0;фі 82;ац
110;йний ном;ер :

2019754012
Наз;ва

Доч;ірl5;є під;прl0;єм 89;тв
086; з 100% іно;зеl4;ни 84; кап;ітk2;ло 84; „ЮС;ЕНi0;О Укр;аїl5;а” кор;поl8;ац10;ї „ЮС;ЕНi0;О Інт;ерl5;еш 85;л Інк;.”
Опи;с

Ути;ліk9;ац10;я суп;утl5;ьо 75;о наф;тоk4;ог 86; газ;у
Адр;есk2;

79005, м. Льв;ів, пл. Міц;кеk4;ич 72;, 8. Міс;це про;ваk6;же 85;ня дія;льl5;ос 90;і: Льв;івl9;ьк 72; обл;асm0;ь, Ста;роl9;ам 73;ір
089;ький рай;он, с. Коб;ло
Обл;асm0;ь

Льв;івl9;ьк 72; обл;асm0;ь
Отр;имm1;ва 95;

УТО;
КОА;ТУi9;

Коб;ло


ID number :

2019754012
Name

Subsidiary with 100% foreign capital of YUSENKO Ukraine of YUSENCO International Inc.
Description

Utilization of associated petroleum gas

Address

79005, Lviv, Sq. 8. Place of activity: Lviv region, Starosambirsky district, v. Koblo
Region

Lviv region
The recipient

UTO
KOATUU

Koblo

Link: hxxp://eia.menr.gov.ua/places/view/4012

Utilization of associated petroleum gas -> production of electric energy and thermal energy through NG generator (nominal power 400-800 Kw)
___________________________________________________________________________________

ByeBye

[brumbrum79] 06/11/2019 21:30

Hi Diesel,

I agree with you.

The progress about the Conversion of the Monastyretska license/Blazhiv field and the Renewal of the Bytlianska license is a good news as well as the closing of the sale of Gazvydobuvannya LLC to the Ukrinvest Group (even if not communicated to the stakeholders/stock market).

Imho, Cadogan is on the right track.

The sales price (2.8 Usd Million or 2.178.142 GBP) of Gazvydobuvannya LLC is worth 0.00924 GBP per share.. Approx 16,8% of the current share price (0,055 GBP) on the stock market.

byebye

[diesel] 06/11/2019 13:44

Last RNS, 'Operations Update', was a bit thin on the operations side, but glad to see the licence creeping towards being awarded, or is it?

[brumbrum79] 04/11/2019 17:17

There's also another news...
Cadogan Petroleum closed the sale of the Gazvydobuvannya LLC, on 28/30 october 2019, to Ukrinvest Group.
...
ТОВ; "ПК "ГАh7;ВИ 44;ОБ
059;ВАННЯ"
Код; ЄДР;ПОi9;
31354329
Пов;на наз;ва
ТОВ;АРh8;СТ 42;О З ОБМ;ЕЖh5;НО 70; ВІД;ПОh2;ІД 40;ЛЬ
053;ІСТЮ "ПРi4;МИ 57;ЛО
042;А КОМ;ПАi3;ІЯ "ГАh7;ВИ 44;ОБ
059;ВАННЯ"

Адр;есk2;
36022, Пол;таk4;сь 82;а обл;., міс;то Пол;таk4;а, Под;ілn0;сь 82;ий рай;он, ВУЛ;ИЦk1; МИР;У, буд;инl6;к 3

Дат;а зас;нуk4;ан 85;я
21.03.2001

Код; ЄДР;ПОi9;
31354329

Дир;екm0;ор
Ков;туl5; Вік;тоl8;ія Вол;одl0;ми 88;ів
085;а

Ста;н
зар;еєl9;тр 86;ва
085;о

Ста;туm0;ни 81; кап;ітk2;л
1,865,424,155.19S72;

Осн;овl5;ий вид; дія;льl5;ос 90;і
06.20 Доб;увk2;нн03; при;роk6;но 75;о газ;у

Вла;снl0;ки на 31 жов;тнn3; 2019
ТОВ;АРh8;СТ 42;О З ОБМ;ЕЖh5;НО 70; ВІД;ПОh2;ІД 40;ЛЬ
053;ІСТЮ "УКi6;ІН 42;ЕС
058; ГРУ;ПП"
Зас;ноk4;ни 82;, 1,865,424,155.19S72; (100%)

Іст;орo0;я змі;н ком;паl5;ії
Скр;ол →

Дат;а Бул;о Ста;ло
30.10.2019 змі;ниk4;ся кер;івl5;ик Буч;акl6;в Юрі;й Вас;илn0;ов 80;ч Ков;туl5; Вік;тоl8;ія Вол;одl0;ми 88;ів
085;а

28.10.2019 нов;ий вла;снl0;к
ТОВ;АРh8;СТ 42;О З ОБМ;ЕЖh5;НО 70; ВІД;ПОh2;ІД 40;ЛЬ
053;ІСТЮ "УКi6;ІН 42;ЕС
058; ГРУ;ПП"

28.10.2019 мин;улl0;й вла;снl0;к
ПОК;РОh2;СЬ 50;Е ПЕТ;РОi1;ЕУ 52; Б.В.

English:

LLC "GASVIDOBOVANNYA"
EDRPOU code
31354329
Full name
LIABILITY COMPANY "INDUSTRIAL COMPANY" GASVIDOBANNYA "

Address
36022, Poltava oblast, Poltava city, Podilskyi raion, STREET OF PEACE, building 3

Date of foundation
03/21/2001

EDRPOU code
31354329

Director
Kovtun Viktoria

State
registered

Share capital
1,865,424,155.19 ₴

The main activity
06.20 Extraction of natural gas

Owners as of October 31, 2019
UKRINVEST GROUP LIMITED LIABILITY COMPANY
Founder, 1,865,424,155.19 ₴ (100%)

Company Change History
Scroll →

Date It was It has become
10/30/2019 the manager changed
Yuriy Buchakov Kovtun Viktoria

10/28/2019 new owner UKRINVEST GROUP, LIMITED LIABILITY COMPANY

10/28/2019 Past Owner POKROVSKY PETROLEUM BV (subsidiary of Cadogan Petroleum)

Link:
hxxps://opendatabot.ua/c/31354329
...

;)

ByeBye

[brumbrum79] 04/11/2019 17:14

Operations Update
Released : 04/11/2019 16:11

Press Release 4 November 2019

Cadogan Petroleum Plc

(“Cadogan” or the “Company”)

Operations update

Cadogan Petroleum plc (“Cadogan”), an independent, diversified oil & gas company listed on the main market of the London Stock Exchange, is pleased to announce that the regional Council of L’viv has approved the application for a 20-year production license for the Blazhiv field (formerly Monastyretska license) and has notified the licensing authority (SGS).

This is the last of the intermediate approvals required for the SGS to issue its final decision on the Blazhiv field license award. SGS has up to thirty days to approve the award of the license.

During the same session, the regional Council of L’viv also approved the application for a 20-year license for Bitlyanska.

ENDS

Link

[catsick] 30/10/2019 12:34

Need to fire a few directors and get Jarred Kushner on the board , Ukranian gas companies need these type of guys on fat salaries to grease the wheels ....

[laptop15] 28/10/2019 15:27

Thoughts on what's going to happen with this underperformancing share at this meeting??

[targatarga] 28/10/2019 12:18

Looks like price is about to dip....

[itsriskythat] 27/10/2019 08:50

Comment ...

"Finally, it might be worth keeping an eye on Cadogan Petroleum, which announced a general meeting on 15 November to consider resolutions proposed to remove certain directors. The requisitioners are not happy with the company’s share price, which is not an unreasonable position when net assets are stated at nearly $52 million and the market capitalisation is only £12 million. It could be interesting."

[targatarga] 24/10/2019 08:25

Silly me.... It's Freepost...

[itsriskythat] 23/10/2019 18:16

I've voted against the five resolutions. It seems that they are after the cash and don't want to admit it.

[targatarga] 23/10/2019 10:48

Received my voting form yesterday. Maybe a mistake,but no return envolope enclosed!

[brumbrum79] 21/10/2019 22:14

Some questions could be:

what would Mr. Meeus and 'his' new team do?
The Meeus' letter didn't explain Nothing about Cadogan's future or "new" project(s)/plan(s).
I find this uncorrect and a lack of transparency towards all Cadogan's (big or small) Shareholders.

For example:
Do They think to invest in the renewable (Wind power) energy??
A Wind Farm is capital intensive.. (maybe they would do the investment(s) through massive financial debt?)
Do They think to withdraw from O&G?
...Edison sold its E&P business division this summer...

Biggest questions:
Do They think to pursue Conversion & Renewal of the Cadogan's O&G licenses or not?
Do They think to pursue Farm-Out of the Bytlianska license or not?


From the Meeus' letter seems clear that 'one problem' is Proger Convertible loan...
Now I'd like to know:
Why did Mr. Meeus (as Cadogan Petroleum Director) approve Proger loan/investment in february 2019?


ByeBye
BrumBrum

[itsriskythat] 21/10/2019 20:19

I was too quick to judge, thanks.