Sibir Energy Share Discussion Threads

[leeson31] 08/5/2008 07:41

08 May 2008


Sibir Energy plc ("Sibir")

Q1 2008 Production and Trading Update

Total production for the Sibir group in Q1 2008 increased 50% to a record 5.9
million barrels compared to 3.9 million barrels in Q1 2007. Sibir group average
daily rate of crude production for the period was 64.4 thousand barrels of oil
per day (bopd), up from an average 43.3 thousand bopd in Q1 2007.

The weighted average netback on domestic and export crude sales after
transportation and export duty and before mineral extraction tax was $40.2/bbl.

In the downstream, Sibir's trading operation processed 9.2 million barrels of
crude at the Moscow Refinery in the period, up 101% from 4.6 million barrels in
Q1 2007. Gross margins on product sales from processing averaged $7.3/bbl.

Sibir's share of fuels sales volumes from its MTK and Mosnefteprodukt retail
networks as well as its joint venture with BP totaled 131 million litres.

Commenting on the Q1 2008 production and refining results Sibir CEO, Henry
Cameron, said, "The first quarter was a period of record production and trading
results for Sibir driven primarily by production increases at the Salym fields
and increased refining volumes at the Moscow Refinery. Sibir also benefited from
strong prices and netbacks for its crude production and refined products."

Enquiries to:

Henry Cameron, CEO


i think thedelay on the main listing hasn't hurt anything, and excellent numbers above.. 64,400 bopd at average netback of 40.2$/b

[gooner6] 08/5/2008 07:24

Good news, again muted reaction............some big numbers in the release.

[curt3] 01/5/2008 09:29

valuation of mature oilers is largely dependent on reserves. Cairn and Soco are examples of high valuation ontheir reserves rather than their production. Sibirs market value is £2.4B (not £1.9B as shown on Adven !!) In my opinion Sibirs oil reserves are understated and the share price will respond when these figures are revised. The current share price should be underpinned by current production levels, downstream earnings and refinery operations, leaving exploration success and Sibneft resolution as good reason to expect medium term potential. Atons target does not seem unreasonable.

[dudleyk] 30/4/2008 16:41

The production update is good news, and in line with the forecast. (See the Sibir website) We cannot expect much reaction to it. But, think what it must be doing to the cash flow!

I expect to see good results from the downstream operations when last year's results are published in late June, and for this half year in Septemvber. Then there is the prospect of more activity from aquisitions, floating on the main market (which is rumoured to be delayed), the Sibneft dispute, Koltogorsky, the Refinery upgrade ... and this year's dividend (I'll guess 15p per share. What do you think?)

Towards the end of last year Aton predicted an end of 2008 share price of about £7.40. Does anyone have the latest briefing on Sibir from them? We miss you Dollarhogger and Davron.

[leeson31] 30/4/2008 12:01

were in breakout now simferopol... so we'll have to wait to see when the share price stps going up, and then see if we end up in a sideways trading range. is suspect ( now that ive flogged 95% of my stock lol) that it shoudl keep on rising... perhaps 670p soon...

[simferopol] 30/4/2008 11:59

What would we expect to be a cieling price here?
Could this speed up the efforts trying to retreive our stolen shares from Abromavich/

[grumr] 30/4/2008 11:34

Thanks Leeson

Expecting flow rates from Koltogorsky in the very near future. Maybe that will be the news that boots it up! Or maybe the Sibneft issue.

[leeson31] 30/4/2008 09:30

perhaps... !? it has a habit of reacting this way...

[grumr] 30/4/2008 08:25

Very surprised by the lack of reaction to this significant rise in production. Was this priced in ?

[gooner6] 30/4/2008 07:23

Very good news today, surprised reaction so far is muted.

[leeson31] 30/4/2008 06:54

RNS Number:3579T
Sibir Energy PLC
30 April 2008


Sibir Energy plc ("Sibir")

SPD Production Record


Sibir today announces that the crude oil production rate at its Salym fields
exceeded 120,000 barrels per day (bopd), a new record. The Salym fields are
located in western Siberia and are operated by Salym Petroleum Development NV
(SPD), Sibir's 50:50 joint venture with Shell.

The new SPD production record brings Sibir's 50% share of production at Salym to
over 60,000 bopd. Combined with production from Sibir subsidiary, Magma, at the
Yuzhnoye fields in western Siberia, Sibir's total daily production has now
exceeded 67,000 bopd.

Commenting on the announcement, Sibir CEO, Henry Cameron said, "Surpassing
67,000 bopd, now ranks Sibir amongst the largest UK listed independent oil
companies in terms of net daily equity production."


Enquiries to:

Henry Cameron, CEO
Moscow [phone]

[grumr] 27/4/2008 11:21

Thanks Curt3

It's certainly looking ripe for some news and a healthy upward move. So good flow rates and well pressure results from Koltogorsky coupled with a positive outcome re Sibneft shares would probably change the chart a wee bit.

Cheers

[leeson31] 25/4/2008 20:57

:-) well play Napoleon. Ive been waiting ages for this, but sold, then it flies up. barstad. lol

good luck

[napoleon 14th] 25/4/2008 20:51

Luvly jubly!

Glad I kept most of mine. Probably won't sell out for a long while yet.

[curt3] 25/4/2008 10:40

Grumr. Hard to say as will depend on flow rate and size of reserves etc which will take time to unfold. Cameron did say that they hoped to double the size of the company over the next couple of years. Salym production meeting targets, oil price high, downstream operations highly profitable, refinery problems put to bed and possibility of some resolution to Sibneft saga indicate the need for some rerating of the share price which we are now seeing.

[grumr] 24/4/2008 12:55

Curt3

Any thoughts or expectations of the sp-reaction to a positive test result from the first Koltogorsky well.

Cheers

[curt3] 21/4/2008 13:49

promising and encouraging noises made re Koltarsky block with drilling results due in the short term may be behind the recent sustained rise. see no reason to sell at this stage

[leeson31] 21/4/2008 13:11

ive got some dgo and kenz too, and lam...

[melody9999] 21/4/2008 13:00

fair enough - i don't hold here but obviously watching the whole sector at present. holding kenz and dgo at present but holding back cos of general market uncertainty.

[melody9999] 21/4/2008 12:47

the way these are going thought you might be sitting tight L

[leeson31] 21/4/2008 11:30

just flogged 5000 shs ..

500 left now....

[leeson31] 21/4/2008 10:21

omg 600p+ woohoo :-)

[leeson31] 16/4/2008 14:21

595p come\ on !! :-)

annoyed i flogged some lol. but, its going up now tharts the main thing