Cadogan Energy Solutions Share Discussion Threads

[itsriskythat] 06/2/2023 11:49

I read this article and then started to think about Cadogan's problems with electricity supply.



What's the solution for Cadogan?

[brumbrum79] 30/1/2023 21:52

In the 1H2022 (181 days) Cad produced 336 bbls/day -> total production 60.816 bbls.

Oil production in the 1H2022 was suspended for 3 weeks (or 21 days)... So Oil production per day was 60.816 bbls/160 days = 380 bbls/d.

Full 2022 Cad produced 322,7 bbls/day -> total 117.793 bbls.

2H2022 (184 days) Cad produced 56.977 bbls -> 309,5 bbls/day. We don't know how many days oil production was suspended in the 2H2022.

Oil revenues in USD for 2H2022? Imho, Less than 1H2022 based on: lower Oil production, lower Oil price, devaluation of gryvnia against USD.

No news/update about: New CPR on Blazhiv oil field, New business/diversification, Proger, Exploenergy, etc...

As always, a high level of transparency towards shareholders.

Based on my information Proger gross revenues 2022 should be 104,3 € millions (2021 89,4 €m; 2020 88,25 €m).

ByeBye

[thordon] 30/1/2023 19:52

They are , takes time
From reading the court papers it appears still ongoing , but maybe Cadogan have given up.

[targatarga] 30/1/2023 19:45

I thought some of the Ukrainian courts were being disbanded due to corruption.

[russman] 30/1/2023 19:34

No Proger update.

[itsriskythat] 30/1/2023 18:27

Here is the resolution of the Supreme Court.

First in Ukrainian



Then in English translation



I understand from reading the published resolution in English that the case is still ongoing.

What do you understand from this?

[thordon] 30/1/2023 17:27

No Mention of Proger Loan update.

[spangle93] 30/1/2023 16:20

Very short annual review of operations.

"In the first half of 2022, the production was suspended for 3 weeks in March 2022 and was resumed after securing the employees, the assets, the financial transactions and the sales process.

In the second half of 2022, there have been several production stoppages due to the reduction of crude oil consumption by oil refineries caused mainly by the Russian strikes or by power outage due to similar strikes of the electricity infrastructure.

As a consequence, the net oil production for 2022 was 117,793 bbl and averaged 323 bpd which is 8% below the production of 2021. The Company is currently analyzing several solutions to overcome these constraints for its crude oil production in 2023

[thordon] 21/1/2023 18:54

Fady rarely speaks as well

[brumbrum79] 21/1/2023 15:37

Fady is Always on Holiday.

[russman] 21/1/2023 07:07

is Fady still on holiday.

[brumbrum79] 26/11/2022 22:03

CADOGAN ENERGY SOLUTIONS LIMITED

Company number 14412421

Company Overview for CADOGAN ENERGY SOLUTIONS LIMITED (14412421)
Filing history for CADOGAN ENERGY SOLUTIONS LIMITED (14412421)
People for CADOGAN ENERGY SOLUTIONS LIMITED (14412421)
More for CADOGAN ENERGY SOLUTIONS LIMITED (14412421)
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 2022
Accounts
First accounts made up to 31 October 2023
due by 11 July 2024

Confirmation statement
First statement date 10 October 2023
due by 24 October 2023

Nature of business (SIC)
99999 - Dormant Company

Link:


The same Registered office address of Cadogan Petroleum plc & Cadogan Petroleum Holdings Limited.

I'm monitoring this new company (a new sub-holding?).
ByeBye

[russman] 23/11/2022 17:30

no news on Proger. a mexican standoff.

[brumbrum79] 18/11/2022 11:54

Today Cad's web site is offline.
They are changing the name of the company.

ByeBye

[russman] 12/11/2022 05:52

Cadogan Petroleum (LON:CAD) said its former chief executive, Bertrand des Pallieres, has resigned as a director and chief trading officer of the company with immediate effect.

Des Pallieres has been an executive director of the company since August 2011 and initially served as chief executive.

[targatarga] 11/11/2022 12:59

Basically these big holders have seen their investment dwindle. Surely someone must ask a few questions!!

[gb904150] 11/11/2022 10:25

Do we know much about SPQR capital holdings (Luxembourg)?

I think the issue with this vote is given the large holdings below any PI's will have negligible impact.

It seems there's no reason for CAD to pivot and go green. Least of all now. Any ideas why this is being proposed or who is behind that? Given recent share price performance I can see why they might want a change, but what really is going to change? No increased transparency I expect!


Major Shareholder % of total voting rights

SPQR Capital Holdings SA 27.57
Mr Michel Meeùs 10.65
Veronique Salik 7.36
Devola SA 7.13
Kellet Overseas Inc. 5.74
Mr Fady Khallouf 4.27
CA Indosuez (Switzerland) SA 4.13
Mr Pierre Salik 3.26
Cynderella International SA 3.14

[itsriskythat] 11/11/2022 10:07

Not expecting Cadogan to embark on any capital intensive work. No need to borrow money when there is already the cash within Cadogan to acquire and grow a consultancy and project management business. The clue is in the name Cadogan Energy Solutions.

[brumbrum79] 11/11/2022 09:37

Every day this story seems to be more similar to Futuren/Theolia...
fady, isn't it?

For itsriskythat..
After 3 years of do nothing scenario and after Cad paid 2,5$ Milion to Ceo&Management director/board for these great results...

And new interest rate scenario will not help capital intensive & high-leveraged investments like wind energy park/plant...

ByeBye

[itsriskythat] 11/11/2022 07:41

His position is not that safe. The changes to the constitution suggest he is mindful of the views of the largest shareholders. So I am expecting him to deliver.

[targatarga] 11/11/2022 07:24

I'm wondering if Fhady has lined up an amazing deal for us shareholders. Odds are his going to get rich before us!

[russman] 02/11/2022 02:10

their horse has already bolted.

[dougdig] 01/11/2022 17:37

Thanks for that clarification - appreciated!

[itsriskythat] 01/11/2022 12:03

Says not to worry about the Board doing making another Proger type investment:

"Sensitive to the fears and questions that could arise from the name change, and subsequently the implementation of the strategy, the Board of Directors propose to deepen the interpretation of article 204 (B) of its articles of association by making it more detailed."

[itsriskythat] 01/11/2022 11:49

Also the change to the articles of association:

"Subject to the Resolutions being passed at the General Meeting, the Company will amend its articles of association by deleting article 204(B) in its entirety and replacing it with a new article 204(B) as follows:
(B) Save in the circumstances set out in Listing Rule 5 2 7R (Cancellation in relation to a proposed transaction which is necessary to ensure the survival of the company), Listing Rule 5 2 10R (Cancellation in relation to takeover offers) and Listing Rule 5 2 12R (Cancellation as a result of a scheme of arrangement etc.), the board may not, unless so authorised by an ordinary resolution of the Company, apply, or resolve for the Company to apply, to (I) the Financial Conduct Authority for the cancellation of the admission to Listing, or (II) the London Stock Exchange plc for the cancellation of the admission to Trading or take any decision that will or is likely to result in the cancellation or suspension of the admission to Listing or admission to Trading or the suspension of trading in the Company’s securities.”

This means the board cannot act without shareholders approval for any corporate activity that would result in the shares being suspended or delisted.

This will protect the assets ie. the cash of the company from being stripped out by a larger company. This is precisely what happened with the Proger loan that was intended as an equity investment. Board does not want to do another equity investment.