Cadogan Energy Solutions Share Discussion Threads

[thordon] 25/12/2023 19:06

Merry Christmas , a really good gift that Cad except Progers shares and add value here.

[itsriskythat] 25/12/2023 15:31

Thanks for your kind gesture of Christmas greetings and your posts over the year. Have a good time at Christmas yourself. Let's all start next year with the hope that 2024 be a far better year for your country and for the company. Itsriskythat.

[brumbrum79] 25/12/2023 15:06

Merry Christmas to Cad's shareholders

[brumbrum79] 19/12/2023 20:32

30.10.2023
La sostenibilità di Proger è di Classe A
Un Rating ESGe che colloca l’azienda tra i top performer del proprio settore

30.10.2023
Proger's sustainability is Class A
An ESGe rating that places the company among the top performers in its sector


hxxps://www.proger.it/la-sostenibilita-di-proger-e-di-classe-a/

Sostenibilità. A Proger SpA rilasciato da Cerved Rating Agency il Rating ESG di classe “A”
Paolo Brambilla - 26/10/2023 21:02:02
La Sostenibilità di Proger è di Classe A. Questo rating ESG colloca l’azienda tra i top performer del proprio settore.

Paolo Brambilla - 26/10/2023 9:02:02 PM
Proger's sustainability is class A. This ESG rating places the company among the top performers in its industry.

hxxps://www.lamiafinanza.it/2023/10/sostenibilita-a-proger-spa-rilasciato-da-cerved-rating-agency-il-rating-esg-di-classe-a/

Fady is a genius...

[brumbrum79] 18/12/2023 20:52

Determina Dirigenziale prot. n. 0172214 del 25/10/2023 di proposta di conclusione con esito positivo del procedimento di verifica della capacità tecnica ed economica della società Exploenergy Srl

Proposta al DG di conclusione con esito positivo del procedimento di verifica della capacità tecnica ed economica della società Exploenergy Srl

descrizione di tutta l'istruttoria svolta dall'Ufficio con, ivi compresi, elementi di valutazione e analisi dei pareri acquisiti dal CRIET per i requisiti di ordine economico e dalle sezioni UNMIG competenti per terrirorio per i requisiti di capacità tecnica, con proposta di parere finale positivo in merito alla verifica della CTE in capo alla società Exploenergy srl ai fini del rilascio dei permessi di ricerca richiesti

parere del CRIET prot. n. 2916 del 26.01.2023, prot. n. 114311 del 12.07.2023, parere sezione UNMIG competente prot. n. 144776 del 12.09.2023

Decreto direttoriale prot. 175130 del 31.10.2023 di conclusione con esito positivo del procedimento di verifica della capacità tecnica ed economica della società Exploenergy srl

conclusione con esito positivo del procedimento di verifica della capacità tecnica ed economica della società Exploenergy Srl

sulla base della determina dirigenziale 172214 del 25.10.2023, descrizione di tutta l'istruttoria svolta dall'Ufficio competente con, ivi compresi, elementi di valutazione e analisi dei pareri acquisiti dal CRIET per i requisiti di ordine economico e dalle sezioni UNMIG competenti per terrirorio per i requisiti di capacità tecnica, con proposta di parere finale positivo in merito alla verifica della CTE in capo alla società Exploenergy srl ai fini del rilascio dei permessi di ricerca richiesti

determina dirigenziale prot. 172214 del 25.10.2023 e pareri CRIET e UNMIG a questa integrati


Managerial Determination prot. no. 0172214 of 25/10/2023 of proposed successful conclusion of the verification procedure of the technical and economic capacity of the company Exploenergy Srl

Proposal to the DG for the successful conclusion of the procedure to verify the technical and economic capacity of the company Exploenergy Srl

description of all the preliminary investigation carried out by the Office with, therein included, elements of evaluation and analysis of the opinions acquired by CRIET for the economic requirements and by the UNMIG sections competent by terrirory for the technical capacity requirements, with a proposal for a final positive opinion regarding the verification of the CTE in the head of the company Exploenergy srl for the purpose of issuing the requested research permits

opinion of CRIET prot. no. 2916 of 26.01.2023, prot. no. 114311 of 12.07.2023, opinion UNMIG section competent prot. no. 144776 of 12.09.2023

Directorial Decree prot. 175130 of 31/10/2023 of successful conclusion of the procedure for verification of the technical and economic capacity of the company Exploenergy Ltd.

Conclusion with positive outcome of the procedure of verification of the technical and economic capacity of the company Exploenergy Srl

on the basis of the executive determination 172214 of 25.10.2023, description of all the preliminary investigation carried out by the competent Office with, including, elements of evaluation and analysis of the opinions acquired by CRIET for the economic requirements and by the UNMIG sections competent by terrirory for the technical capacity requirements, with proposed final positive opinion regarding the verification of the CTE in the head of the company Exploenergy srl for the purpose of issuing the research permits requested

managerial determination prot. 172214 of 25.10.2023 and opinions CRIET and UNMIG to this integrated


hxxps://www.mase.gov.it/sites/default/files/archivio/allegati/trasparenza_valutazione_merito/IS/2023-11-28_provvedimenti_DGIS_II_sem_2023.ods

;)

ByeBye

[brumbrum79] 21/11/2023 23:11

сир;а наф;та ᐈ Ком;меl8;че 89;ки
081; тен;деl8; на ...
SmartTender
hxxps://smarttender.biz › komme...
10 nov 2023 — ТОВ; "ЮСh5;НК 54; НАД;РА" (Cadogan Group) має; мож;лиk4;іс 90;ь зді;йсl5;ит 80; реа;ліk9;ац10;ю наф;ти сир;ої, вид;обm1;то11; із све;рдl3;ов 80;ни Бла;жіk4;-3 (Льk4;ів 89;ьк
072; обл;асm0;ь).

crude oil ᐈ Commercial tender for ...
SmartTender
hxxps://smarttender.biz › komme...
Nov 10, 2023 — YUSENKO NADRA LLC (Cadogan Group) has the opportunity to sell crude oil extracted from the Blazhiv-3 well (Lviv region).



При;ём пре;длl6;же 85;ий по аук;циl6;ну №22041131, Cadogan Group «сиl8;а наф;та» зав;ерm6;ен

Acceptance of proposals for auction No. 22041131, Cadogan Group “Sira Nafta” (Crude Oil) has been completed

hxxps://smarttender.biz/ru/kommercheskie-torgi-prodazhi/32072257/

[itsriskythat] 11/11/2023 12:30

Proger is taking much too long.

[russman] 11/11/2023 06:08

Fady is very quiet on Proger.

[targatarga] 02/11/2023 13:35

Wouldn't it be better if Proger brought Cadogan in entirety. It'd put us all out of our misery once and for all! Imho

[itsriskythat] 30/10/2023 21:53

So it reads to me like Proger now have more than enough free cash to repay their small loan from Cadogan. It would make both parties happy and they can say goodbye to each other.

[brumbrum79] 30/10/2023 20:20

Fady.. The "genius", greatest & be(_)st ceo in the world...
A Monkey would be better than this sh(_)t.

Good readings to All

25.10.2023
For Proger, a production value of over 180 million in 2023, with a portfolio of around half a billion euros over the next three years.
Presentation of the company's half-year report, forecasts to 31.12.2023 and business plan 2023-2026

At an event reserved for stakeholders, Proger’s CFO, Roberto Lombardi, presented the company’s results and forecasts for 2023, as well as its business plan for the next three years. For Proger, 2023 will mark the best result in the company’s history, with a projected production value at 31 December of EUR 186 million, +40% compared to 2022, and an EBITDA of EUR 24 million.

The positive results of 2023 can be attributed to the performance of the main business lines of the engineering and management company, which boasts clients such as WeBuild in the infrastructure design sector, Autostrade per l’Italia for safety inspections and maintenance engineering, Eni and Total in the oil and gas sector, and Enel and Terna in the green energy sector.

“In 2023, we have made an important leap forward in terms of production, compared to the average of 100 million developed in recent years,” comments Lombardi. “Our growth model is based on the competence of our resources and the intuitions of our management, which are well supported by the financial system; in fact, to pursue growth of this kind requires strong support both from the banking system and from Proger’s shareholders themselves, who have always reinvested profits in the company because they believe in the persistent development project that Proger has undertaken. With an NFP/PN ratio of 36%, a high level of financial availability and substantial medium-term credit lines provided by the financial system, Proger can explore new markets and generate new business on a solid and secure footing“.

This solidity is confirmed by some of the main indicators highlighted during the presentation: the EBITDA margin (EBITDA/VdP) of 13% shows a good level of remuneration for the activity carried out, particularly in view of the comparative benchmark of around 10%, and the excellent ratio of net financial position (NFP) to EBITDA, at 1.26 (with an average of 3.5 in the sector), summarises the company’s ability to repay bank debt in the short term.

“In addition to the financial data, however, we must not forget that it is essential for us to invest in human capital and training, as this creates value and guarantees the continuity of the growth trend“.

During the presentation, the CFO went on to extend the time horizon of the forecast, illustrating Proger’s business plan up to 2026, which, despite an extremely conservative approach, confirms the current year’s production volumes.

“We have a portfolio of around half a billion euros,” continued the CFO, “but these are values that refer to June 2023 and I can already say that they are on the rise.“

“I cannot deny that our CFO is always very cautious in his forecasts,” interjects CEO Marco Lombardi, “but we are confident that we will not only be able to confirm this year’s VdP, as indicated in the business plan, but that we will be able to go well beyond the €200 million threshold over the next three years. This is because the figures presented do not take into account very concrete scenarios and initiatives in the pipeline that are not yet sufficiently mature to be included in our backlog. One of them, for example, sees us as the technical coordinator of one of the most important infrastructure projects in the world“.

“I remember that in 2014, during a company convention, we announced the goal of becoming number 1 in Italy and reaching 200 M€ of turnover by 2025,” concludes President Umberto Sgambati. “To many it seemed far too ambitious, but today we can say that we are succeeding even ahead of schedule.”

Link:
hxxps://www.proger.it/en/per-proger-valore-produzione-oltre-i-180-milioni-nel-2023/

ByeBye

[brumbrum79] 23/10/2023 21:08

Fady.. The be(_)st.

Here you can find and read Cadogan Petroleum Holding Ltd (sub-holding direct subsidiary of Cadogan Energy Solutions) Annual Report and Financial Statements 2022...
Wonderful.



A brief summary:
Impairment of investment in subsidiaries for 1,531 $Ml;
Cadogan group sold Astro-Gas LLC (Ukrainian entity) at the beginning of 2023 -> ref. page 26;
Cash at bank 7,729 $Ml (2021: 7,259 $Ml);
No news or update about Proger Loan;
No news/idea about new businnes...;

Year after Year..
Fady.. The be(_)st ceo in the world.

[shortcpx] 20/10/2023 09:46

Fady the baddy still a waste of space as ever

[brumbrum79] 20/9/2023 13:33

Proger spa - Economic and Financial Keywords 2022 - 2021 - 2020

hxxps://www.proger.it/economics/ (italian language)

Imho, for CAD it would be better to sign a new agreement (or "exercise the call option" & close the deal) with Proger/Proger ingegneria/PMP.

Imho, CAD 1H2023 results was a complete disaster in terms of Crude Oil production, revenues, Oil sale price (discount applied on Brent price), gross profit margin (1H23 13% vs. 1H22 32,2%)... Thanks to fady meeus & management board... "Great job"!

After 4 years Cad is studying a gas-to-power solution for the optimization of the use of the produced gas (associated gas to Oil production) in its oil production operations (blazhiv oil field).

The gas-to-power plant (400-800 Kwh) project, using associated gas (ch4), was proposed by Michelotti in the 2019.
In 4 years this ceo & management board didn't do nothing.

Last but not least, after six months there's no update about Exploenergy capital increase.

ByeBye

[brumbrum79] 17/8/2023 07:46

UK banks shun companies trading with Ukraine

British companies ‘afraid to trade with Ukraine’ due to threat of account closure from risk-averse banks, business chiefs warn.

AUGUST 15, 2023 3:29 PM CET
LONDON — Banks are forcibly closing the accounts of British firms that trade with Ukrainian counterparts due to concerns over Russian sanctions and money laundering, business leaders have warned, hampering wider efforts to support Ukraine's war-ravaged economy.

In a letter to U.K. Treasury Minister Andrew Griffith, seen by POLITICO, British-Ukrainian Chamber of Commerce (BUCC) Co-Chair Bate Toms said British firms are increasingly “afraid to trade with Ukraine from the U.K.” due to the risk of being de-banked.

The letter, dated July 26 and also copied to U.K. Business and Trade Minister Nusrat Ghani, states the BUCC has received multiple complaints from firms who have had bank accounts closed — or their attempts to set up accounts rejected — because of dealings in Ukraine.
...

hxxps://www.politico.eu/article/uk-bank-close-accounts-british-smes-trading-with-ukraine/

"Good" reading

[brumbrum79] 05/8/2023 22:18

For Itsriskythat:

What you are saying is that Cadogan has still not provided the funded to ExploEnergy so ExploEnergy cannot become a gas operator in Italy.

Yes, based on data & information update on 31 july 2023.
Exploenergy Srl will be a gas operator in Italy when its Share Capital paid up will be €300.000 - now it's €165.000 (increased of €45.000 on march 2023 -> from €120.000 to €165.000).
If and when Exploenergy Srl will be a gas operator it could get an Exploration License permit in Italy.

Imho, there are more chance to get Corzano Exploration License in the short time than Reno Centese.


Will this change this year or never?


Will this change soon or never?


For your questions I don't have an answer, "maybe" fady & meeus have the answers.

[itsriskythat] 05/8/2023 11:52

Thanks you brumbrum

What you are saying is that Cadogan has still not provided the funded to ExploEnergy so ExploEnergy cannot become a gas operator in Italy.

Will this change this year or never?

No news about Proger.

Will this change soon or never?

Shareholders have already a lot of patience. A lot more patience may be needed?

[itsriskythat] 29/7/2023 15:54

In February 2022, the Plan for the Sustainable Energy Transition of Suitable Areas ("PITESAI") was approved by the Ministry for Environmental Transition in Italy. Cadogan was approved for its two licences.

[brumbrum79] 29/7/2023 15:40

Hi Thordon,
So it seems... Maybe in 2024.
I will try to find additional informations about Corzano and Reno Centese
Please read these:
1)
17 novembre 2022
Estrazione del gas nella Bassa Bresciana, il progetto “Corzano” è ancora attivo

La Exploenergy sta attendendo il via libera da Roma per poter attivare il pozzo esplorativo. L'ipotesi è quella di estrarre 150-200 milioni di metri cubi di gas (su un'area di 173 chilometri quadrati) che sarebbero destinati, in prima istanza alle necessità del territorio.

Corzano. Torna in auge il progetto estrattivo di gas nella Bassa Bresciana. A Corzano, individuato dal Ministero dell’Ambiente come una delle località nella quale sussisterebbe un “tesoretto” di gas nel sottosuolo, la società che presentò, otto anni fa, la richiesta di estrazione è pronta a mettersi all’opera, già dal 2024.
La Exploenergy, come riferisce Il Giornale di Brescia, sta attendendo il via libera da Roma per poter attivare il pozzo esplorativo. L’ipotesi è quella di estrarre 150-200 milioni di metri cubi di gas (su un’area di 173 chilometri quadrati) che sarebbero destinati, in prima istanza alle necessità del territorio.

Nel bresciano è presente un’altra richiesta di trivellazione per a zona di San Gervasio, dove esisterebbe un giacimento di 50 milioni di metri cubi, in capo alla Sogemont.
Se ci sarà l’autorizzazione del Mite, la società attiverà l’iter previsto dalla normativa, che prevede la interlocuzione con gli attori del territorio (Provincia e Comuni) e la valutazione ambientale.

Links:


hxxps://www.giornaledibrescia.it/bassa/trivelle-riparte-il-progetto-corzano-gas-a-km-zero-per-le-aziende-locali-1.3806281

hxxps://www.cremonaoggi.it/2022/11/17/estrazione-gas-a-ridosso-del-cremonese-riparte-il-progetto-corzano/

English version:
17 november 2022
Gas extraction in Lower Brescia, the "Corzano" project is still active
Exploenergy is waiting for the green light from Rome to be able to activate the exploratory well. The hypothesis is to extract 150-200 million cubic meters of gas (over an area of 173 square kilometers) that would be destined, in the first instance for the needs of the territory.

Corzano. The gas extraction project in Lower Brescia is back in vogue. In Corzano, identified by the Ministry of the Environment as one of the locations in which there would be a "treasure trove" of gas underground, the company that submitted, eight years ago, the request for extraction is ready to get to work, as early as 2024.
Exploenergy, as Il Giornale di Brescia reports, is waiting for the green light from Rome to be able to activate the exploratory well. The hypothesis is to extract 150-200 million cubic meters of gas (over an area of 173 square kilometers) that would be destined, in the first instance for the needs of the territory.
In the Brescia area, there is another drilling request for a San Gervasio area, where there would be a 50 million cubic meter field, in the hands of Sogemont.
If there is authorization from Mite, the company will activate the process required by the regulations, which includes interlocution with the actors of the territory (Province and Municipalities) and environmental assessment.
...
2)
Also, until now, I found this:
L’AUMENTO EXPLOENERGY NON BASTA AL MIMIT.
POSTED BY ANDREAGIACOBINO ON JUNE 19, 2023 IN UNCATEGORIZED | LEAVE A COMMENT

Aumento di capitale per Exploenergy, società di ricerca petrolifera lanciata oltre dieci anni fa per cercare metano nella bassa bresciana nei comuni di Corzano (nel cui sottosuolo si stima ci siano ancora 300 milioni di metri cubi), Reno Centese (Ferrara) e Castiglione di Cervia (Ravenna). La società è stata fondata nel 2012 da tre ex top manager Eni: Domenico Esposito (senior vicepresident e già a capo della Nigeria Agip Oil), Ennio Sganzerla e Stefano Cao, già amministratore delegato di Saipem e oggi fra l’altro presidente della quotata Gas Plus e amministratore delegato di Dri d’Italia (Invitalia). I tre hanno venduto nel 2017 il 90% dell’azienda alla compagnia petrolifera ucraina Cadogan Energy Solutions (ex Cadogan Petroleum), quotata a Londra, e oggi ne sono azionisti di minoranza rispettivamente col 3,5% cadauno Cao e Sganzerla e Esposito col restante 3%. Qualche giorno fa s’è riunita l’assemblea degli azionisti presieduta da Adelmo Schenato (anche lui ex top manager Eni) per deliberare una ricapitalizzazione da 120mila a 300mila euro, subito interamente sottoscritta da tutti i soci pro-quota. Il bilancio 2022 di Exploenergy, appena depositato, evidenzia tuttavia che a marzo scorso il Ministero delle Imprese e del Made in Italy (Mimit), ex Ministero dell’Ambiente e dello Sviluppo Economico, ha notificato all’azienda che la ricapitalizzazione non ha portato il patrimonio netto, come richiesto, a 300mila euro.
Link:
hxxps://andreagiacobino.com/2023/06/19/laumento-exploenergy-non-basta-al-mise/

THE EXPLOENERGY INCREASE IS NOT ENOUGH FOR MIMIT.

POSTED BY ANDREAGIACOBINO ON JUNE 19, 2023 IN UNCATEGORIZED | LEAVE A COMMENT
A capital increase for Exploenergy, an oil exploration company launched over ten years ago to search for methane in the lower Brescia area in the municipalities of Corzano (in whose subsoil it is estimated there are still 300 million cubic metres), Reno Centese (Ferrara) and Castiglione di Cervia (Ravenna). The company was founded in 2012 by three former Eni top managers: Domenico Esposito (senior vice-president and former head of Nigeria's Agip Oil), Ennio Sganzerla and Stefano Cao, former CEO of Saipem and now among other things chairman of the listed Gas Plus and CEO of Dri d'Italia (Invitalia). In 2017, the three sold 90% of the company to the Ukrainian oil company Cadogan Energy Solutions (formerly Cadogan Petroleum), listed in London, and today they are minority shareholders respectively with 3.5% each Cao and Sganzerla and Esposito with the remaining 3%. A few days ago, the shareholders' meeting chaired by Adelmo Schenato (also a former top manager at Eni) met to approve a recapitalisation from EUR 120,000 to EUR 300,000, which was immediately fully subscribed by all pro-rata shareholders. Exploenergy's 2022 balance sheet, which has just been filed, shows, however, that last March, the Ministry of Enterprise and Made in Italy (Mimit), formerly the Ministry of the Environment and Economic Development, notified the company that the recapitalisation did not bring the net equity, as required, to €300,000.
...

For Mr.Fady Khallouf (CEO Cadogan), what are you doing in Italy?
Please Fady explains and shares the Italian gas projects to ALL Shareholders (included minorities), Thanks in Advance.

ByeBye

[thordon] 29/7/2023 13:24

Thanks Brumbrum79 increase in capital for Italian sister company would mean there is actions taking place.