Sibir Energy Share Discussion Threads

[bethany3] 05/12/2008 22:01

In the past small pi are the last/least privy to any price sensitive info. But thanks to the internet and media this has improved hugely. One important rule of investing is to know the fundamentals and second guess what could be in the cupboard - good or bad.
Of all the posters here, SBE holders or not, you COCO seem to take offence to views/opinions contrary to your own. Majority of posters, some of whom are long term holders, are outraged by what current management are proposing that is responsible for its current share price And I sympathise with them - they've been robbed. If I pick a 'dude' for an investment I'm prepared to take it on the chin. However, what current management of SBE are proposing is beyond belief and never before in a British company. Management must show responsibility and accountability to shareholders, big or small. You might disagree but I do hope current management of SBE will never be allowed to run any company listed in the UK in the future and prevent this ever happening again.

[coco] 05/12/2008 21:42

Whatever !

Your edit says it all

[coco] 05/12/2008 20:58

Bethany if you have no interest why the opinions that are not based on fact you offer guestimates and fears. As for my interest, yes I have an interest and I do not think it is fair that you should put your untruthful OPINIONS across.
I have stated on at least one occasion and maybe several occasions that this share is not for widows or orphans and stated that people do not buy this share - just watch for the next six months , come back when things are clearer and the stock is more expensive. as usual DYOR !

[coco] 05/12/2008 20:41

Tpain, No people are reading they have just BEEN shut up ! - Something to do with coffee apparently.

[tpain] 05/12/2008 20:20

talking to yourself again?

[coco] 05/12/2008 20:19

Sibir Energy plc is a fully integrated independent energy company with exploration and production operations in Western Siberia and refining and marketing in the City of Moscow and the Moscow region. Since its creation in 1996, Sibir has grown its attributable reserves to over 680 million barrels (Russian classification A+B+C1+C2) and daily production to over 77,000 barrels of oil per day (bopd) making Sibir one of the largest UK-listed energy companies. In ten years of doing business in Russia, Sibir's Western management team has partnered with its largest Russian shareholder to overcome the challenges of doing business in this dynamic market and has strengthened the company at each turn.

Upstream, Sibir's production comes from its Yuzhnoye field, operated by Magma Oil Company (95% Sibir owned), and its joint venture with Shell in the Shell-operated Salym group of fields (50% Sibir owned). Sibir's total current production is over 77,000 barrels of oil per day (bopd), including its 50% of production from the Salym Fields and its wholly owned Magma production unit. By the end of 2009 Sibir's total production is expected to exceed 100,000 bopd.

Downstream, Sibir is uniquely positioned through its ownership of the Moscow Oil and Gas Company (MOGC), through which it has 100 thousand bopd of operating capacity at the Moscow Refinery. Sibir's crude oil production is both exported directly and refined in the Moscow refinery to be sold as refined products in the export market. Gasoline and diesel products are also marketed directly in Moscow and surrounding region through Sibir's network of over 130 petrol service stations. Sibir additionally owns a 25% stake in a network of 48 BP-branded service stations in Moscow and suburbs. Sibir's products trading operation has contributed significant profitability since its launch nearly three years ago.

With all of Sibir's key assets currently contributing to profitability, the company has now turned its attention to an aggressive programme of expansion in both upstream and downstream sectors to ensure the company's continued growth now and in the future.

Sibir has been listed on the Alternative Investment Market (AIM) of the London Stock Exchange since 1997 and has 386,564,695 million shares in issue. 65% of Sibir shares are held by Russian individuals or entities: Chalva Tchigirinsky and Igor Kesaev through a holding company called Bennfield hold 47% and the City of Moscow holds approximately 18%; 25% is held by institutions and the balance is owned by individuals, trusts and others.

[coco] 05/12/2008 19:54

Kibes obviously you never read the PDF on sbe's website a couple of days ago - read the website and you will see what you own and the valuation attributed to SBE

[kibes] 05/12/2008 19:19

Received the Notice of General Meeting document which sets out the details of the property acquisitions. To be fair to Chalva Tchigirinski, it does state:

'Mr Tchigirinski has instructed Bennfield Ltd to abstain from voting for the Reolutions in respect of the ordinary Shares it holds in proportion to his interest in Bennfield Ltd'

ie he is not trying to force this through by a majority vote. (Bennfield is his primary investment vehicle in Sibir). As it currently stands, he does not have more than 50% in favour so other shareholders could derail the plan. This does lend an element of decorum to the situation.

But on the downside, is there more of this sort of nonsense to come? Who knows?

[bethany3] 05/12/2008 18:59

Positives - cash generative, massive reserves and undervalued.

Negatives - a pile of real estate that's half finished and deteriorating in
values that requires constant maintenance and maybe open to legal
disputes, and most concerning of all a 'lack of governance'.

Two days of rises - however amount sold matching amount bought. Unless these are long term holders who are averaging down and not just T10/20 or day traders after a quick profit SBE's upward trend could not be sustained given recent development. Once EGM to pass the resolution to 'bail out' the Russian has been approved a takeover seems more and more unlikely as valuation of SBE would be almost impossible given the 'real estate' factor. Best scenario for shareholders is an oiler buying up the Russian stake and bid for the rest of SBE. Otherwise SBE would be considered a 'pariah' by investors and the city and might even be censured by the SE/FSA for its behaviour. SBE after EGM is only for the very brave or desperate - no longer an investment but a pure gamble!

[ammons] 05/12/2008 17:50

Perhaps todays action at SBE was prompted by sheer cheapness (which the shares are despite the white elephant property portfolio) and by this



Lets see if anything materialises.

[waggle] 05/12/2008 16:59

apparently putin has promised to compensate all those russkies who have lost money in the stock market..according to a friend who is back from st petersburg briefly. He also said that it is very interesting observing the russian mindset, whereby the all current world problems are caused by others, in a nutshell they feel put upon and persecuted!!

[josels] 05/12/2008 15:40

Oil barrell at $25 soon, the adquired property may help the company to diversify , it should go up from here

[banj] 05/12/2008 14:33

150p short term, 400p med term, 800p+ long term. DYOR. IMHO :-))

[a3477681] 05/12/2008 14:19

coco
I suspect (hope)that HC should have some good news on production at or around the agm. But this is just a guess. No doubt there will be a stream of guffaws from the shorting lobby but this buying has some strong momentum suggesting that there is more to it than a bounce. In the short term where do you think this is headed?

[coco] 05/12/2008 14:12

1delboy re uen - cash no hope so becareful

[1delboy] 05/12/2008 13:56

poss bid for UEN on the way currently 8.9p- bid 20,30,50p +

sorry o/t

[josels] 05/12/2008 13:51

it seems taht nobody is balling out the russians....they are in their own.I got £3K at 52