Enwell Energy Share Discussion Threads

[34adsaddsa] 09/12/2022 20:11

Company says nothing to see here..

[tigerbythetail] 04/12/2022 15:36

Yes, the court rulings AGAINST Enwell on matters on which they had previously ruled FOR Enwell were a red flag. Ukrainian courts are incredibly corrupt (I know this well!), but even a big bribe doesn't buy a direct reversal of a previous ruling like that. Only political influence can.
To be honest, I'm surprised it took so long for the Ukrainians to act.
I've no idea how this plays out now. Maybe there will be some pieces to pick up at some point. But my instinct is telling me ENW shares may well be worthless (the Ukrainian subsidiaries will be seized via the courts, the money held offshore will be spirited away in darkness).

[34adsaddsa] 03/12/2022 19:43

P.S. I think it's possible that the UK listing may give enwell some protection. We're Ukraine's best buddies and seizing assets owned by British citizens wouldn't be a good look.

[34adsaddsa] 03/12/2022 19:33

I was sceptical of your views and wrote very bullish things about enwell, but I sold out at about 25p after the court ruling. Given they had previously won in court on the same issues, it seemed likely to me that it was politically influenced. It seems your warnings are coming to pass.

One thing I wonder: If enwell did get nationalised/seized, would the cash outside Ukraine also be Ukraine's legal property in the eyes of western countries/courts? If not, then this could be a great buy if it crashes 90% or whatever after the Ukraine government moves on it.

[tigerbythetail] 02/12/2022 13:58

I'll leave this here. All as predicted previously.
The first one to read it and act on it will thank me...
tass-ru.translate.goog/mezhdunarodnaya-panorama/16487339?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

[tigerbythetail] 07/11/2022 15:50

Wave of Ukrainian nationalisations of assets perceived to be held by pro-Russian oligarchs announced today:
twitter.com/HrvatskeNAFO/status/1589644752538185730
Konstantin Zhevago, MotorSich, and UKrNafta seemingly caught up in this. I can't see Novinsky named yet, but I'd expect him to be included either in this wave or a subsequent one. Too much history there.
"Accounts will be settled" sooner or later.
But go on shooting the messenger if that's your thing!

[1jbrisky] 04/11/2022 11:15

TBTT,
I used to enjoy your musings on the relative strengths of SLP and THS over on the other board and have always respected your opinion.
FWIW I had a small investment here, hoping that there may be some positive announcements due to the resulting benefits of Ukraine's war efforts. This morning's announcement has however triggered my (very tight) stop loss and I have taken a small loss. Quite happy to be out if I'm honest, I also think there are ramifications further down the road here, I was just hoping for a short term gain.

[officerdigby] 04/11/2022 10:07

OK I got it you got some Russkie thing going on..however many folkes voted Yanko buy doesn't mean they wanted to be turned Russian like this. And now fight for freedom.

[tigerbythetail] 04/11/2022 09:59

FFS, he was given honorary citizenship by Yanukovich!
I know more but it's not for a public forum.
Rinat Akhmetov a different category case - he's more or less proven his loyalty to Ukraine.

[officerdigby] 04/11/2022 09:51

TBTT why is he living in Kiev then (at least for the first part of war) ..and why does he help Zelensky and why was he given honoury citizenship?!Very much in the same bracket as his partner and Azovstal owner (check what that chap nhas said recently). They are on the Ukrainian side since the invasion.Even though they were previously voting for pointing toward Russian parties.Today's RNS shows that despite everything Ukraine is Ukraine!! ENW nothing to do with these prior shenanigans..it just bought a frozen asset that had done nothing for years and proved it up to help Ukraine!! The previous previous owner has some legal argument about the title. We know no what it is .The same thing happen for them in the VAS field and was never resolved in court. They just continued to produce last x years.

[officerdigby] 04/11/2022 09:41

Mstaub we just drilled and flow tested on one! Lol.

[tigerbythetail] 04/11/2022 09:41

I don't think may PIs here are asking the right questions about Enwell.
Investors here need to research the oligarch that owns 90% of its shares, paying particular attention to his previous citizenship and political affiliations and strong pro-Russian sympathies. Given the not entirely correct and above board workings of the Ukrainian legal system, IMO there is very little chance that he will manage to hold onto his assets in Ukraine after the end of the war. (This is assuming that the war end ins Ukrainian victory or stalemate, of course).
In fact, I don't see any future for him in a free Ukraine at all.
Not an investor, but I hope this helps.

[mstaub] 04/11/2022 09:03

Arkona holds a 100% interest in the Licence, which is located in the Poltava region in north-eastern
Ukraine. The Licence has an area of 97 km2, and is approximately 15 km east of the Company’s
Svyrydivske (“SV”) licence. The Licence was granted in May 2017 with a duration of 20 years. The
Licence is prospective for gas and condensate, and has been the subject of exploration since the
1980s, with 5 wells having been drilled on the Licence since then, although none of these wells are
currently on production. As with the productive reservoirs in the SV field, the prospective reservoirs in
the Licence are Visean, at depths between 4,600 – 6,000 metres.

I dont beleive we ever spudded any wells on this licence due to the legal issue pending. So no production loss, just the purchase costs up to $8,630,000 for the licence. (2) Igor Mychko, Oleksandr Neschchotnyy, Dmitro Volonets and Oleg Olkhovoy (the “Sellers”;) interesting bunch they are I wonder who was responsible for doing the due diligence on this deal.

Related article to this The National Anti-Corruption Bureau (NABU)

bttps://nabu.gov.ua/en/tags/arkona-gas-energy

[targatarga] 04/11/2022 08:47

Ukraine is literally a minefield for armies and investors!

[tradermel] 04/11/2022 08:30

That is quite a blow. "Appellate Administrative Court made a ruling in favour of Boryslav, to uphold the decision of the First Instance Court, with the effect that the Licence is now ruled invalid"

[officerdigby] 31/10/2022 09:23

Think it will be a year till they connect up this field.NB this was a field they had just bought prior to invasion/COVID.Gas is there so hopefully CPR and increase reserves to come. Albeit that the two prospective zone failed somewhat.Maybe they should try fracking.. these weak zones..

[vk1971] 31/10/2022 09:11

I was worried about the results of this well as it took them too long to drill and esp. for testing. But all respect to their team as they delivered well with excellent results. Thats more than 20% increase in their current production just from this one well. Well done EnWell!!

[mstaub] 31/10/2022 08:57

Unfortunately, Beeks, I am back in Zurich, Switzerland, I returned Jan 2020, after living 7 years in UK, Covid 19 and Post Brexit was enough for me to leave. Still do a little online retail currently preparing Christmas sales of a Aromatherapy Showerhead which also reduces water consumption by up to 30%. I am amazed and sad by the situation of the Ukraine; I know Ukraine will be successful but at what cost? Russia deserves nothing apart from being sent back into the pre-Cold war era and start queuing up again for their day-to-day necessities. I still hold some of these.

[rolo7] 31/10/2022 08:47

A bit of good news nice well result

[beeks of arabia] 27/10/2022 16:29

How's the shower head business mstaub? Still on that island in the far east.?

[mstaub] 12/10/2022 14:12

Err Farrugia, did you read the latest Quarterly Operations Update by any chance. No mention of any export stop. or the Interim report from 30/09/2022.

Financial


-- Revenue of $77.2 million (1H 2021: $41.1 million), up 88%
as a result of significantly higher gas prices offset by lower
production volumes
-- Gross profit of $51.5 million (1H 2021: $21.6 million), up
138%
-- Operating profit of $48.9 million (1H 2021: $18.1 million),
up 170%
-- Cash generated from operations of $12.5 million (1H 2021:
$19.2 million), down 35%
-- Net profit of $32.4 million (1H 2021: $13.8 million), up 135%
-- Cash, cash equivalents of $77.4 million as at 30 June 2022,
and of $76.2 million as at 28 September 2022 (31 December
2021: $92.5 million)
-- Average realised gas, condensate and LPG prices in Ukraine
were much higher, particularly gas prices, at $1,165/Mm(3)
(UAH33,524/Mm(3) ), $103/bbl and $165/bbl respectively (1H
2021: $249/Mm(3) (UAH6,897/Mm(3) ) gas, $74/bbl condensate
and $66/bbl LPG)

Looks good to me :))

[officerdigby] 07/10/2022 11:16

It's just tied into Ukraine war. Really.
If you think the territory ENW have licences on is safe.
And they can get paid and keep licenses etc.

Then it's a no brainer.


Did I mention any risk!?

[maloneyt] 07/10/2022 09:02

What's happening here I wonder
Hopefully good news is coming