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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Pan European Terminals | LSE:PAN | London | Ordinary Share | GB00B12V3082 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 22.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:8153D Baltic Oil Terminals Plc 31 May 2006 31 May 2006 Baltic Oil Terminals PLC ("Baltic") Market update Baltic Oil Terminals PLC, which was established in 2004 to invest in oil related infrastructure projects and upstream activities in Russia and the FSU and was admitted to trading on AIM on 27th April 2006 having raised approximately #23 million, is pleased to provide the market with an update. Zauralneftegaz Limited ("Zauralneftegaz") In the admission document issued on 20 April 2006 in connection with the placing and admission to AIM of Baltic, the Directors stated that they expected the results of five exploration and production licence applications by Zauralneftegaz, in which Baltic owns a 50 per cent equity interest and is the operator, to be announced by the end of May 2006. The applications relate to various blocks in the Kurgan region of Western Siberia in Russia. The Directors are pleased to announce that the applications for the first two licences, each of a 25 year term, in the South Voskresensky block and the Petukhovsky block were successful. These new blocks are located in the eastern part of the existing licence areas of Zauralneftegaz and have a surface area of approximately 335,000 acres. The technical review of the existing "legacy" data will commence immediately upon formal confirmation by the Ministry of Natural Resources of the award, which is expected within twenty days. The Directors now expect the decision in respect of the Lebyazhevsky licence block application to be announced by 16th June 2006 and the decisions in respect of the Mikhailovsky and Pichuginsky blocks to be announced in the fourth quarter of this year. Tetoil Limited ("Tetoil") - The Tetoil transhipment terminal The Directors are also pleased to announce that Tetoil, in which Baltic owns a 58.35 per cent equity interest, continues to make very good progress in the design and construction of its new oil export transhipment terminal in Kaliningrad. The Project Director and Tetoil General Director have appointed an experienced full time Russian Project Engineer to the project in order to expedite the approval and turn round of documentation and drawings in Kaliningrad and Moscow. In accordance with the Directors' statement set out in the admission document, they continue to expect that detailed engineering and construction drawings will be completed in June 2006 and that construction will commence in July 2006. Accordingly, the Directors continue to expect that loading onto vessels will commence during January 2007 and that capacity of 240,000 tonnes per month will be reached by October 2007. - Ends - Enquiries Baltic Oil Terminals PLC 020 7667 6371 Simon Escott, Chief Executive Robert Wilde, Finance Director Arden Partners Limited 020 7398 1636 Chris Fielding Financial Dynamics 020 7831 3113 Billy Clegg This information is provided by RNS The company news service from the London Stock Exchange END MSCBGGDUIDXGGLB
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