Sibir Energy Share Discussion Threads

[keepitup] 03/12/2008 12:50

Never trust a russian, never trust anyone trusting a russian.

[risk2much] 03/12/2008 12:45

I suppose all we need is Tchigirinski to become a (forced?) seller of his stock as well now. I dont see anywhere in this buyout of his property portfolio, a commitment to retain his SBE stock.

[pineapple1] 03/12/2008 12:41

Thanks sportbilly.Lets see what happens.Small punt here but i like buying when its doom and gloom.BB,s where everyone is a bull seem to go in the opposite direction.
None the less the declines here are warranted thru the actions of the board..imho

[velvetide] 03/12/2008 12:39

who's buying this pig ?

[phatprofit] 03/12/2008 12:38

My sympathies to all those who have been caught up in this russian mess.



P

[tpain] 03/12/2008 12:37

SpectoAcc, Agree. The FSA's banning of short selling was nothing short of fixing that market and commiting very serious market manipulation. Most intelligent people realised that shorting did not cause the banks to fall so much; it was because they were in awful trouble. In fact those who shorted the banks should be praised because they essentially created a more efficient market, which should be the function of a speculator.

[rbonnier] 03/12/2008 12:33

Sell whilst you can still get 40pish by this time next week they will be sub 10p imvho.

[sportbilly1976] 03/12/2008 12:25

pineapple...

good luck - although from purely a technical perspective, it is looking set to go below the 40p support which has held all morning (consecutively lower highs on each bounce so far0.

but fingers crossed for you.

[pineapple1] 03/12/2008 12:16

Well his shareholding is worth a lot less now,so its not looking good for the Russian Basil Fawlty.

Maybe concessions for SBE holders in the hotel.

On a more serious note it must be worth a small flutter down at these levels so i,ve held my nose and jumped in the pool.Hope i don't have lead boots

[spadman] 03/12/2008 12:16

Im not short just watching, coco said the property was below market value. Really one would imagine if that were the case the property would have been sold on the open market.

Youd think this would be illegal wouldn't you

[thunders] 03/12/2008 11:59

I bought 330 at 101p and toady aother 300 at 40p and will buy 300 again if it goes to 10p. We don`t know how bad these guys been exposed to betting on oil price!!!!!

[joeblogg1000] 03/12/2008 11:57

coco, hope u r right and SBE do something to support the price as this is another one now I am at a big loss having bought recently thinking the worst was over!!

[spectoacc] 03/12/2008 11:57

Indeed soulsauce; and the irony is that this may not be the last of it.

Madjock - a co should be run for the benefit of ALL its shareholders.

[soulsauce] 03/12/2008 11:56

I'll leave the coffee alone if you don't mind COCO.

Debts have a habit of spialling and oil projects have a habit of time lapses and bad drilling results. At a time when many companies are trying to secure cash and cut their cloth I don't think it is a time to be taking on masses more debt especially in bankrupt Russia.

[madjock2] 03/12/2008 11:54

Look Guys PI's only own about 2% of this stock. You don't have a say in what happens at all. You should have known that when you bought in. This is now a gamble like UEN. But don't jump in yet!!Cheaper to come then a seriously good buying op.

[coco] 03/12/2008 11:52

Soulsource this is what Im saying - recession no recession recession no recession - oil up oil down oil up oil down,buy low sell high buy low sell high, We will see give it six months this company is cash generative wake up and smell the coffee

[soulsauce] 03/12/2008 11:44

COCO you might be right but the longer oil stays at this level the longer Russia is screwed and so are SBE profits to service the debt.

It's not a risk many are willing to take by the looks of things and neither is the market. 30p looks a strong possibility and a lucky escape for me.

[spectoacc] 03/12/2008 11:43

Coco - I'm not a shorter, but I think what SBE are doing is flabbergasting.

"Under current valuations" - look at what Russian property co's are trading at. And far more cash is needed to fund for eg.

"Cash generative..growth company". Where to begin! This was a profitable oil co with lowish debt. Oil prices have plummeted and SBE need the cashflow and profits from the oil business to service debt, develop the fields etc. Oops.

The FD resignation says it all. The shareprice reaction doesn't say nearly enough.

[sportbilly1976] 03/12/2008 11:42

descending wedge on 40p support suggesting it will break to the downside...

[1delboy] 03/12/2008 11:41

sold out at £70 loss this look like it wants to go below 40p, next stop?

[sakamuka] 03/12/2008 11:40

Coco - Totally agree!

[ptolemy] 03/12/2008 11:39

Now looks at though SBE is run soley for the enrichment of Shalva.

Disappointing for holders but this always has been a high risk punt.

I tried to highligh some of the risks in post 1783 (but was knock as usual by Davron)