Sibir Energy Share Discussion Threads

[sportbilly1976] 03/12/2008 11:38

COCO,

I hold no position here but have been watching the reaction to the news.

The issue is that SBE is (or rather was) an oil company, not a property company.

It also would appear to have been used recently as a vehicle to bail out the majority shareholder from his personal financial difficulties, with no regard for the other shareholders...

[coco] 03/12/2008 11:35

There seems to be alot of shorters on this thread. For clarification to some of the negative views on this - sbe have paid under current valuations for the properties. sbe is cash generative and sbe is a growth company the price available at the moment I think has taken in to account the uncertanty in the market place we will see who is correct over the next six months.

[sportbilly1976] 03/12/2008 11:34

well at least it would appear that the overhang in UEN is cleared.....

[sportbilly1976] 03/12/2008 11:32

He is a majority shareholder, so no chance outsize...

[outsizeclothes.com] 03/12/2008 11:29

What chance the shareholders block this proposed deal at the AGM (or EGM after)?

[andrew1664] 03/12/2008 11:26

Would never invest in this. Investors are taken for mugs. Be careful.

[spectoacc] 03/12/2008 11:25

The FD the only one coming out of this with a tiny bit of reputation intact, and even he signed off on the earlier agreement.

Utter, utter scandal - the price paid, the assets themselves, the person bought from. There's some very "cheap" Russian property plays on AIM - SBE isn't one of them.

And what do the FSA do? They ban short-selling on banks. Marvellous.

[tpain] 03/12/2008 11:25

I didn't realise the cash positon was that poor. Looked at 2007 figures acciddently. Ok a big divi is not on the cards, do not buy.

[wskill] 03/12/2008 11:24

I never in my wildest dreams thought it would be possible to buy SBE under 50p even with this idiotic purchase of property this is still very good value .

[squintyflinty] 03/12/2008 11:12

I wonder how the ceo feels about all this . His purchase of 600,000 shares at £2.47p per share has devalued slightly!

[dorset64] 03/12/2008 11:11

Criticle time, if it bounces off 40p again then there's money to be made, if not then its anywhere down.

[spadman] 03/12/2008 11:03

Tpain

If the company is going to be looted as you suggest what makes you think you will be a winner?

I dont get it

[sportbilly1976] 03/12/2008 11:02

well as a shareholder in UEN, I'm hoping I get treated better...

[spectoacc] 03/12/2008 10:59

Tpain - they should be valued more like a Russian property co now, ie a tiny % of NAV, one that doesn't have enough cash to finish the projects it has bought, though one with a nice oil business on the side.

On top of that, they should be valued as a co under the complete control of someone who can do what he likes. I still think the valuation should equal the co's credibility.

[sportbilly1976] 03/12/2008 10:59

ah,

WINS now come back from coffee break....

[cyberpost] 03/12/2008 10:59

WINS there as well sportb

[cyberpost] 03/12/2008 10:58

They've even done it on BP



The Kremlin has moved decisively to take back ownership of Russia's oil-and-gas assets, taking effective control of Royal Dutch Shell's Sakhalin-2 project and issuing a chilling warning to BP about its future in the country

[sportbilly1976] 03/12/2008 10:58

have some of the MM's decided to quit trading SBE?

only EVO, JEFF, DEUT & FOXY currently quoting on the bid...

[cyberpost] 03/12/2008 10:56

sport.... it only got settled a few months ago. It happend in late 2006 but its been going on since only a few months ago when Russia got its way and effectively took control.

[cyberpost] 03/12/2008 10:55

Tpain

they had £80m of cash at the interim stage. How on earth will they be able to pay div of 40p / share when at 40p the market cap is £142m

[sportbilly1976] 03/12/2008 10:54

cyberpost...

that article is from 2006.

[cyberpost] 03/12/2008 10:52

$20bn gas project seized by Russia





anything Russian, barge pole comes to mind.