Sibir Energy Share Discussion Threads

[coco] 07/12/2008 12:51

Dividends

The growth of oil reserves, production, refining yields and profits remains the aim of your Board. Distribution of the Group's profits in the form of dividends is likewise a priority and in due course we will announce a restructuring of the Group which will enable such payments.

[ammons] 07/12/2008 12:41

Coco.

I agree with most of what you have written but given the weight of the ball and chain property portfolio I dont think a dividend would be wise. I wouldn't say no if they offered it mind!

[harryh05] 06/12/2008 23:12

Will we see any news on Sibir in Tomorrow's Sunday paper's share tips?

[ammons] 06/12/2008 20:18

Yancey has posted this on Ample:

"Sibir Energy, once the largest company on AIM, crashed 60% on Weds when it revealed plans to buy $340 of properties from 47% shareholder CT to support his worsening financial position.........The proposed acquisition sits uneasily alongside SBE's core E&P business.........Several properties still require development funding and, even generating over 70,000 barrels of oil per day, SBE would have to raise substantial funds for property development.........The shares plunged to 40p and have lost almost 90% since we advised buying them at 371p on 6 October (and at 273p on 10 October and 722p on 10 July!!). Although SBE's growing oil production offers tremendous value at this level, the threat of diversification into property on top of increasing risk of operating in Russia outweighs the potential upside. Smaller shareholders are likely to be outvoted at the meeting to approve this deal by two other Russian stakeholders and will be forced to accept an unsavoury deal. Fairly priced."

From yesterdays Investors Chronical.

[ammons] 06/12/2008 19:57

In case any of you fat dogs weren't aware, the Eurovision Song Contest is in Moscow next year so property prices are bound to rocket as a result :-)

[edmondj] 06/12/2008 17:43

I recall attending a Sibir AGM, a few years ago.

The Russian got a standing ovation from shareholders!

I once had fish & chips with Henry Cameron.

How life moves on...

[davron8] 06/12/2008 17:18

In under two weeks time a few of us will be at the AGM and have the chance to ask questions and met the management. I expect to hear very acceptable answers and to leave the meeting confident that all is well.
For those who have doubts as to the value of SBE try doing your own serious research into the assets of SBE. They have 386,564,695 issued shares at 30th June 2008. With production at nearly 80,000 bpd and all of the other assets and the large reserves of oil in the ground this share price has got to be worth much more than the pence per share quoted today.

[bethany3] 06/12/2008 13:50

napoleon.....sell or reduce his stake in SBE to someone else/another company or back to SBE who then would sell it to other investors or institutions. This way at least SBE's reputation would be maintain
Tpain........100p is better than current share price And with SBE's massive proven reserves and assets an offer would bound to flush out other potential suitors hopefully resulting in an auction giving maximum chance for shareholders to obtain the best price possible in this climate. Or would you rather hold on for years to come waiting for share price to hit previous peaks before selling as no new long term investor would touch SBE with a barge pole given its dismal track record with previous/current investors.

[tpain] 06/12/2008 13:03

Ha. So you are suggesting that he now tries to buy out the company after he has forced the value down to such a ridiculous level. That would be a disgrace of the first order.

Him and the management have driven the value of the company down from what would probably be a good 300 to 400p in these conditions to 60p. And now you are suggesting he tries to buy it out at 100p. Ha, ha, ha. I doubt you would find one shareholder (except you) who would think that is fair in any way.

[napoleon 14th] 06/12/2008 12:37

yes, ammon, it's six of one & half a dozen of the other........

Beth - nice idea, but the problem is Mr T doesn't have the dosh!

[bethany3] 06/12/2008 11:33

If Mr T is an honourable businessman, he should put SBE into play ie. make an offer say even at 100p per share cash so that shareholders know what value he places on the company. At least that way shareholders have a choice and if SBE's assets are so undervalued other oilers could always make a better offer. This way those that disagree would be able to cut their losses at at least 100p or more and move on rather than held to ransom and be lumbered with that unfinished 'TOWER' with share price remaining in the doldrums for months to come. Come on Mr T do the honourable thing - make shareholders an offer!

[napoleon 14th] 06/12/2008 00:54

The more I read the news, the more I see the price of oil IMPLODING!
Yet that's supposed to be the reason for the value in SBE.

Take the export tax out of the $40/b & the profits will be nowhere near last year's.
OK, there MIGHT be a recovery in POO but that's speculating against the recession which has not yet finished biting huge chunks out of the world economy...

Add to that the massive credibility gap built up by the Russians as a whole over the last decade (nearly went bust in 1998) & the skullduggery indulged in, plus this road of borrocks buying half-built pipedreams & it might just be that one final push in the wrong direction will see this whole shennanigan gets pushed over the edge...

If Chiriginski is resorting to this liability dumping it's because there is no serious cash available elsewhere. That says it all. PERIOD.

The risk of SBE being taken out for a binfull of Green Shield stamps is very real.
The asset strippers will be only too happy take over the good bits afterwards & dump the rest. The speculative appeal is understandable, but only if you're prepared to overlook the past & current rip offs. That's when the blind lead the blind.

Who said the leopard could change its' spots?

I have a few of these but can see no sane nor sober reason to risk adding to this russian roulette.

[harryh05] 05/12/2008 22:52

The more I read and research, the more I believe this stock is going to explode shortly.

[harryh05] 05/12/2008 22:25

I think the selloff was exagerated. The price should not have dropped sub 90p

[ammons] 05/12/2008 22:24

Somewhere between 10p and £500000000000000000000000000000000000000000000000000

No idea. I am not a short term investor. Never have been. The Saudi's have indicated $75/80 POO. If POO hits that next year and stays around that figure and the massive fiscal stimuli being injected into financial systems worldwide proves successfull (which I think it will despite the doom & gloom today) then I see Sibir sailing past £4 without any trouble at all.

[coco] 05/12/2008 22:23

Cocopops will use that - lol

[harryh05] 05/12/2008 22:21

I can see it. I think the AGM will provide some positive news for the share price.

[coco] 05/12/2008 22:19

Harry i just cant see it M8, gonna take longer and wont be without the usual ups and downs.

[harryh05] 05/12/2008 22:16

Ammons - What is your share price target come end of month?

[coco] 05/12/2008 22:16

No i dont take offence, My view point will be differnt to others as Ive said ive not taken the hit on this one - but I trust me i have on others and you live and learn.

I view investing in Russia as different than ie "western society" thats why im piggy backing it. If it falls down then thats my loss but others i.e chav has more to lose going forward than me so my view is to take my chances and let them do the work. As for them running another company listed in the UK this is not the first or the last time companies cross a grey area.
To put this to bed Im just taking an undervalued oppotunity this will not be the end of SBE and will not see one sided opinions uncontested.

I will say again to observers to this thread do not invest in the Russian undervalued cash generative profitable and soon to be dividend paying company -come back in six months when it is more expensive to buy and take a view then.

Best regards Coco

[harryh05] 05/12/2008 22:06

COCO - I hope all is well.

Do you still believe £1.60-£1.80 is not possible by end of month?