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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Exillon Energy Plc | EXI | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 41.20 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 41.20 |
| Top Posts |
|---|
Posted at 12/12/2016 21:13 by blue meaning Interview: New Exillon Energy chief sees robust future for Russian independent sectorLondon (Platts)--24 Nov 2016 852 am EST/1352 GMT * Financial stress to lead to M&A 'wave' * Downplays OPEC-led output cuts The head of Russia's Exillon Energy, Dmitry Margelov, has predicted a secure future for the country's independent upstream sector, but says a surge of merger and acquisition activity could be on the cards in the next two to three years. In an interview, Margelov, who became chief executive of the London-listed company in March, said he saw little threat to the independent sector from the centralizing tendencies seen in Russia's oil industry in recent years. He also played down the significance of any effort by Moscow to curb oil output in collaboration with OPEC, saying the burden of such a move would probably fall on large companies. "I think our government is interested in having independent producers," Margelov said. "For now I don't see any political risks for our company." "Yes, there is a process of centralization, but from my point of view this pretty strange and unpredictable situation with Bashneft is not a sign that now all assets will go to Rosneft," he said, referring to state-controlled Rosneft's recent acquisition of Bashneft, a deal that led to bribery charges against a government minister. As a company, "we are in a very strong position and we have every chance to develop our production and sometime maybe in future to acquire new assets," he added. Exillon is currently producing around 15,000 b/d of light, low-sulfur oil, most of it from the Kayumovskoe and Lumutinskoe fields in West Siberia, plus some in the Timan Pechora basin in Russia's far north. It plans a new drilling program in the first half of next year aimed at reviving its declining output. The reboot of the company follows a change of ownership in 2013 in which property investors Alexei Khotin and Alexander Klyachin took the place of Kazakh businessman Maksat Arip as its largest shareholders. Margelov said Exillon had slashed its drilling expenditure at the time of the oil price downturn in 2014, but had now accumulated $100 million of cash, enabling it to take advantage of much-reduced prices in the supply chain and associated rig availability. This is likely to mean horizontal drilling, but from existing wells. Exillon's core West Siberian fields benefit from a tax exemption applicable to challenging geologies, but its estimated lifting costs last year were just $3.3/b and it benefits from easy access to transport infrastructure. The company has avoided entering long-term sales contracts, preferring to be flexible on how it sells its oil, which has an API gravity of around 41 and sulfur content of just 2.2% for the west Siberian fields. The majority of its revenue was from domestic sales last year and it has estimated oil reserves of 500 million barrels. In terms of costs, Margelov said the tendency of larger companies to carry out more drilling in-house and reduce their use of service companies was a boon for upstream independents. "Prices for drilling services in Russia are now really low. There are a lot of companies that have their drill rigs standing with no bidders -- they're very flexible, both on pricing and in terms of payment." Concerning Russia's offers to join OPEC in curbing output, a suggestion balked at by some large producers, Margelov said he was confident Exillon and others like it would be unaffected, not least due to questions of implementation. "I don't think someone would ever want to freeze the production of a small and independent producer like Exillon -- they don't have any mechanism to do this. I don't think [the government] would like to change taxation right now because people are worried about this," he said. The government "would take measures that would apply to governmental companies like Gazprom Neft, Rosneft, because it's easier." OVER-VALUED ASSETS As for the Russian upstream market, Margelov said asset holders currently tended to have an inflated view of the value of their assets, but were likely to modify this as financial stresses on the sector increase. If past cycles are anything to go by, some upstream assets may end up in the hands of banks, which would then want to offload them, he added. "There are some assets that are intended to be sold, but their owners still believe the oil price is around $100/b and expect too much. It takes time for asset owners to understand what the fair price is. Now we will see that some companies will not be able to pay their debts to commercial banks and maybe in some years we will see that some banks got some nice assets just as security... Then of course they would like to sell them," Margelov said. "In two or three years we will see a wave of interesting M&A transactions in Russia." --Nick Coleman, nick.coleman@spgloba --Edited by Alisdair Bowles, alisdair.bowles@spgl |
Posted at 23/3/2014 09:58 by bad robot nvestors took fright at turmoil in the boardroom of Exillon Energy and sent shares in the Russian oil group sharply lower.Exillon dropped 27¼, or 18.8pc, to 117¾p after chairman David Herbert, chief executive Mark Martin and three independent directors all resigned. They quit after Mr Martin told them "that he was no longer able to exercise practical control over the company's operations and assets" without the backing of the two directors who joined the board in January, and who were nominated by Exillon's biggest shareholder, Alexei Khotin, the billionaire owner of RusOil. The latter company considered bidding when Exillon was up for sale last year, although ultimately decided against making an offer. Mr Khotin holds a 29.99pc stake in Exillon, while Alexander Klyachin, a Russian hotels entrepreneur, holds 26.7pc. Both became shareholders in late 2013. "The concern for minority investors is that the familiar faces of the past are no longer with the company and there is little certainty over quite how things will proceed in the months ahead," Mirabaud Securities told clients. RusOil's deputy CEO will now join the remaining two directors at Exillon. |
Posted at 18/12/2013 10:01 by cashandcard You were all warned !!!!!-------------------- Pro_S2009 14 Nov'13 - 00:27 - 4083 of 4629 0 0 What the price of the stock is now has no bearing at all on the final price. Classic example I gave was Oasis Healthcare. 9p to final sale price of 95p and there were funds selling out at 25p thinking they did well, and funds who sold out at 45p who thought they knew everything - final takeover price was 95p. At this moment in time who is selling and at what price makes no difference at all - they only interest is that someone is happily buying the stock - looks to be Russian - and they still have 5 to 6 more weeks to keep on mopping up the cheap sells before there will be any clues on the actual, higher, takeover price (should it all proceed) cashandcard 14 Nov'13 - 15:24 - 4084 of 4629 0 0 edit Pro, There is, of course, the risk of a sale not happening. Look at it this way, those who sold at 25-45p did well to make multiples from the 9p low - doesn't hurt to make a profit and exit the room. However, if they kept on hanging on for 70-80-95p and then a sale did not go through??? Would be back down to earth and usual price action in single, maybe low double figures. Its not always smooth sailing, investors will derisk where they can and a profit is a profit. Cash |
Posted at 12/12/2013 18:13 by exbroker Well that was an expensive day!Not done that much since 2008. I feel more twists to come, only trackers, spivs and the private investors left in it now.We would all rush to take 377 so they have done a great job on expectation management, nothing has changed with the underlying value of the company.You never know Gutseriev may buy a few more just for a bit of fun! |
Posted at 12/12/2013 15:02 by roubini paulio Are private investors about to be fleeced??? |
Posted at 06/12/2013 18:01 by exbroker Step back and take stock, on Monday you would have been very happy with this as a situation by Friday night would you not? Just because the price has been higher you all seem depressed, the same sellers who have sold stock much lower continue to do so how could the justify stopping, most are now down to very small levels relative to where they started.I will be staying with it untill what I hope is the final takeover, look back to some of the other contested and interesting deals in the past 30 years and by the time of the final terms the only holders where the private investors and the tracker funds so good luck to all whether you stick twist or hold. |
Posted at 06/12/2013 12:10 by pro_s2009 The more the new potential owners can pick up cheap now, the more it allows them to offer a higher price for the remaining shares in the final offer.Looks very quiet today, tiny volume - just private investors looking like a rabbit in the headlights - scared and rushing to sell some or all "just in case". Its normal - most people sell their rising stocks far too early and keep their losing stocks far too long, its human nature - but its not good for the stock marker. |
Posted at 04/12/2013 16:09 by west coast trading I've added loads more also.Seems some decent investors on here, you may want to look at JIL with your winnings. 14p div next wednesday but more importantly what's going on behind the scenes. Boring but seems to rise steadily. |
Posted at 14/11/2013 15:24 by cashandcard Pro,There is, of course, the risk of a sale not happening. Look at it this way, those who sold at 25-45p did well to make multiples from the 9p low - doesn't hurt to make a profit and exit the room. However, if they kept on hanging on for 70-80-95p and then a sale did not go through??? Would be back down to earth and usual price action in single, maybe low double figures. Its not always smooth sailing, investors will derisk where they can and a profit is a profit. Cash |
Posted at 08/10/2012 11:43 by ntbb maybe some news on russian oil sector after the meetingRussia to Lure Funds as Novak Meets Energy Investors in London By Anna Shiryaevskaya - Oct 4, 2012 5:12 PM GMT+0100 .. Russian Energy Minister Alexander Novak will meet with international investors in London on Oct. 9 as the world's biggest oil and gas producing nation seeks funds to develop increasingly challenging deposits. Novak, a former deputy finance minister, will meet more than 50 institutional investors managing more than $2.5 trillion, Dmitry Klokov, his spokesman, said today in an e- mailed statement. President Vladimir Putin has overseen oil alliances with Exxon Mobil Corp., Eni SpA and Statoil ASA this year to help OAO Rosneft with technology and financing to tap remote and complex reserves as traditional fields deplete. Putin has called for Russia, which depends on oil and gas for half its budget revenue, to keep crude output at more than 10 million barrels a day, a post-Soviet high, for at least a decade. Novak will explain to investors about tax incentives to help develop new projects in eastern Siberia, offshore deposits, and hard-to-recover reserves, Klokov said. Russia needs as much as $1 trillion of total investment in oil, gas and power to 2020, Novak said in an interview on Sept. 20. The London presentation will be followed by New York in November, Novak said in September. Igor Sechin, Rosneft's chief executive officer, will meet with investors in London tomorrow to explain the state-run company's strategy as it seeks to buy BP Plc's half of TNK-BP, the country's third-biggest oil producer. To contact the reporter on this story: Anna Shiryaevskaya in Moscow at ashiryaevska@bloombe To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg. |
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