Ruspetro Share Discussion Threads

[lmfao] 06/2/2013 08:09

Buying Opportunity here imo

[rcturner2] 06/2/2013 08:07

Solvency is a serious issue here and most investors will probably sell at any price.

[purple11] 06/2/2013 08:07

another Russian crooked oilie. own up who thought they were being smart trying to catch the bottom?

[wigancasino] 06/2/2013 08:07

Russian mafia!!!! Stinks!

[wigancasino] 06/2/2013 08:05

In auction now for 5 minute. Cause for concern!

[madmonkflin] 06/2/2013 07:54

I think they need to replace whoever issued that communication as its just a slap in the face to shareholders without giving a bloody reason.

[darcon] 06/2/2013 07:49

Pros and cons of this morning's RNS:

Cons:
- the company has postponed the contemplated issuance of Senior Secured Notes. No clear explanation given as to why the postponement, which may lead to negative speculation
- Limolines debt not converted at IPO price
- Various balance sheet issues which loan note offering was intended to deal with have not been dealt with

Pros:
- the company can recommence the Note Offering at a later date. They have merely postponed and not cancelled it. This may give the company an opportunity to achieve better pricing later
- balance sheet marginally improved by postponement of repayment of Limolines shareholder debt, which is now repayable in May 2015 instead of Feb 2013.

Potential issues to speculate on:
- why did the company pull the offering? Was it purely an issue of bad timing and lack of market appetite for the offering while the company still has an issue with its operations? A pricing issue (market wanted a higher yield than the company is currently paying?)only or more than that?
- will the company sort out the heat exchanger in February?
- will the company have something positive to report on 18 March in terms of its operations?
- will the company be able to report improved reserves on or prior to 18 March when it releases its 2012 preliminary results and DeGolyer and MacNaughton's 31 December 2012 reserves' audit?

[sat69] 06/2/2013 07:47

It would have been sensible for them to have put out a reason for the postponement, but the rns does state "The company has decided" which implies that it was not failed due diligence.

[madmonkflin] 06/2/2013 07:46

Sounds like a right royal screw up to me.

[rcturner2] 06/2/2013 07:43

Guys, you need a reality check. How can a company announce such a large offering and postpone it 10 days later? Sounds like it failed due diligence to me.

[ranj79] 06/2/2013 07:43

Am with you two.. Not sure the price will be hit that much, as its already been marked down in relation to all this!

[sat69] 06/2/2013 07:35

Darcon - I agree with you but I'm not sure Mr. market will. I can see a hefty markdown at the open, but I may decide to add as we will be getting the heat exchanger back online within the next few weeks, and that rns will undoubtedly push the share price back up.

[darcon] 06/2/2013 07:23

Why pay substantially more in interest when there is still more than two years to run on the existing Sberbank loan? Plenty of time to extend the maturity later. They can return to market when they have addressed their short-term production issues. On the plus side the Limolines shareholder loan now matures in May 2015.

It was a mistake by the company to go forward with the loan note marketing so soon after their production shut-in caused by the lack of the heat exchanger. It would have been wiser to do it after resolving the issue.

[maltatrader] 06/2/2013 07:11

smelling a rat here

[rcturner2] 06/2/2013 07:07

RCTurner2 29 Jan'13 - 08:46 - 655 of 710 0 0 edit

usually in my experience, this type of price action means one thing only - something is wrong and sadly the pi only finds out what is wrong sometime in the future

[darcon] 05/2/2013 15:55

"Ruspetro guides to double digits

Issue: Daily News - 5 February 2013

Oil and gas company Ruspetro has released initial price guidance of low to mid-11% for its five year bonds, which it expects to price later this week. The company is looking for an issue size of about $350m..."

[m w] 04/2/2013 17:38

its not all bad

[darcon] 04/2/2013 16:48

Currently RPO are paying interest of 10.9% on the Sberbank facility according to the last annual report (reduced from 14% as of October 2010) but the maturity on that facility is April 2015.

[salpara111] 04/2/2013 16:25

Good god! 11% yield on the bond! That is deep into junk territory which really does put a whole new perspective on things from my point of view.

[darcon] 04/2/2013 16:04

From today's Dow Jones:

"Russia's RusPetro PLC has planned a dollar-denominated, five-year, senior secured bond. Initial price recommendations are set to yield in the low to mid range of 11%."

[darcon] 01/2/2013 16:37

Still waiting for the RNS regarding the loan note offering. However, the RNS about the AGM could be understood to indicate that the board is confident in closing the loan note offering.

[jaws6] 01/2/2013 14:54

RPO rns out