Sibir Energy Share Discussion Threads

[coco] 08/12/2008 18:37

I hope not harry but you never Know - keep holding, hopefully you will get your money back but its along road, with hills along the way.

[harryh05] 08/12/2008 18:33

Hi Coco,

I really appreciate your comments. In sounds you have done a lot of research in SBE. Do you think there will be any surprise news in the AGM?

Regards

[coco] 08/12/2008 18:29

Well the rise continues - its funny that those who did not do their research and or speak to the company but down cryed the company as a total loss are no where to be seen now - those type of people should be disgusted with themselves.

I reiterate do not buy shares in this undervalued and cash generative company just watch it rise for six months and comeback and buy it then when it is more expensive and not as undervalued as it is today.

Regards Coco

[ammons] 08/12/2008 18:05

1delboy,

Why are you blabbing here about TMAN and BLVN?? This is the SBE board. If I want to find out about TMAN or BLVN then I'll read that board. Do you have anything of interest to say about SBE?

Thanks.

[1delboy] 08/12/2008 15:44

both TMAN and BLVN worth looking at imo, both on the move again north

[harryh05] 08/12/2008 15:29

COCO - DO YOU STILL THINK £1.60-1.80 IS NOT POSSIBLE BY MONTH END?

[leeson31] 08/12/2008 13:30

its that new stuff, grade 5!!

:p

[coco] 08/12/2008 13:28

Looks like more coffee smelling going on

[1delboy] 08/12/2008 12:02

o/t just bought into BLVN at 29p , like uen very over sold through ints, directors bought on 4 november at £1.27p, they have 45m in cash, also agm this thursday which should reassure investors. difficult to get stock and like uen could move very quickly back to £1 levels

[lbo] 08/12/2008 11:39

Bank of Moscow seeks state aid

[coco] 07/12/2008 20:49

Well no revision to the IEC offer - this should provide a boost to Russian oilers there paying over the top in todays market but just goes to show what value is hidden in todays Russian oilers - feel sorry for the shorts could get expensive

Petromin, OVL had plans to revise Imperial offer

Anupama Airy
Posted: 2008-12-08 00:02:48+05:30 IST
news: part 1

Petromin, OVL had plans to revise Imperial offer
Anupama Airy
Posted: 2008-12-08 00:02:48+05:30 IST
Updated: Dec 08, 2008 at 0002 hrs IST

New Delhi: In a startling revelation of facts, both ONGC Videsh Limited (OVL) and the petroleum ministry have accepted before the Empowered Committee of Secretaries (ECoS) that they had considered re-negotiation of the $2.6 billion deal for acquiring the assets of the UK listed firm-Imperial Energy Limited by OVL in the wake of current depressing global economic situation.

However, fearing that this may lead to "reputational damage to OVL, ONGC, the Indian government and potentially the India Inc", the government has decided to allow OVL to go ahead with the deal and make an open offer to the shareholders of Imperial Energy. The open offer will made by OVL before December 9.

"We are in the process of making the open offer to the shareholders of Imperial, who will then have 28 days time i.e up to January 6, 2009 to tender the shares. If acceptances are received in respect of 90% shares, OVL would be required to make payments to the shareholders, expected latest by mid January," confirmed a senior company official on the condition of anonymity.

Delays on part of OVL to make an open offer has seen the share price of the UK listed firm-Imperial Energy trade below the offer price of £10.5 a share for some time. As against a price of £ 11.48 per share on November 11, the Imperial Energy stock was quoting a price of £ 10.30 on December 5

FE is in possession of documents, prepared by the petroleum ministry for the consideration of the Empowered Committee of Secretaries (EcoS), which revealed that petroleum ministry had advised OVL to "confidentially explore the possibilities of making a revised offer" in the changed economic circumstances. The EcoS was told that the withdrawal of the offer was not considered desirable as "it may have undermined the company's and the country's credibility besides depriving an opportunity to acquire such an asset abroad, which is crucial to enhancing India's energy security."

The documents further revealed that the adverse global financial conditions and the plunging crude oil prices have led to a massive fall in the projected returns to OVL from the acquisition of Imperial Energy Limited's assets. The acquisition of Imperial Energy's assets by OVL was based on an Internal Rate of Return of over 10% and at a long term crude oil price of $75-80 a barrel. However, with a steep fall in the crude oil prices, currently ruling...

[coco] 07/12/2008 19:24

W skill all in the open for everyone to see

Production and Trading Update (Sibir Energy)




RNS Number : 1996G
Sibir Energy PLC
20 October 2008


Sibir Energy plc ("Sibir")

Q3 2008 Production and Trading Update

Total production for the Sibir group in Q3 2008 increased 37% to a record 6.3 million
barrels compared to 4.6 million barrels in Q3
2007. Sibir group average daily rate of crude production for the period was 68,800 barrels of
oil per day (bopd), up from an average 50,400
bopd in Q3 2007.

The weighted average netback on domestic and export crude sales after transportation and
export duty and before mineral extraction tax
was $44.6 per barrel.

In the downstream, Sibir's trading operation processed 10.1 million barrels of crude at
the Moscow Refinery in the period up 105% from
4.9 million barrels in Q3 2007. Gross margins on product sales from processing averaged $15.6
per barrel.

Sibir's share of fuels sales volumes from its MTK and Mosnefteprodukt retail networks as
well as its joint venture with BP totaled 139
million litres.

Commenting on the Q3 2008 production and refining results Sibir CEO, Henry Cameron, said,
"The third quarter was a period of continued
record production and trading results for Sibir driven primarily by production increases at
the Salym fields and increased refining volumes
at the Moscow Refinery as a result of the MOGC deal in 2007. Sibir also benefited from strong
prices and netbacks for its crude production
and refined products."


Enquiries to:

Henry Cameron, CEO
Moscow [phone]

Stuard Detmer, Member of the Board
Moscow [phone]

[wskill] 07/12/2008 16:39

Coco

are you sure about $15.6 per barrel as they process 200 thousand odd barrels a day

[josels] 07/12/2008 16:26

THe share is so low that it convinced me last week to buy some and hold them for the long term.
I do not know much about the company.

[coco] 07/12/2008 15:19

Taken from the q3 report - Gross margins on product sales from processing averaged $15.6 per barrel.

[bethany3] 07/12/2008 15:19

If these real estates are so rare and sought after and very cash generative it still begs the question - why wasn't the financial institutions approach first? Surely they could have provided funds to alleviate his cash flow predicament or there was more to his financial plight then publicly known - was that why the long serving FD resign with immediate effect? We are never going to agree over this. Hence will let the market and investors be the judge and jury!
As for IC they are not worth their cover price - they very SELDOM issue a 'sell recommendation' for financial and business reasons. Would be financially suicidal to use IC as an indicator.

[coco] 07/12/2008 13:49

ammons - re eurovision apparently the Russian entrants have won already !

We also now own property opposite the Ski lifts on the olympic village for the winter olympics to be held in Russia plenty of time to sell that on at a profit before then yum yum wonder if I can have a free pass to the lift as a shareholder benifit

[coco] 07/12/2008 13:34

Jefferies recommend BUY from HOLD price 43 target 150
Net Debt (MM): $643.1
Net Debt/Capital: 20.6%
Long-Term Debt (MM): $105.0

Valuation- Risks
150p/sh PT at a premium to the current share price
(down more than 60% in response to the latest real estate
transactions) but at a significant discount to NAV recognising
Sibir's cheap assets but ongoing country and minority risks and
corporate governance issues. Our DCF derived NAV shown
below values Sibir's assets at 743p/sh, down 68p/sh. The decline
in NAV represents increased net debt for 2009 and a higher
discount applied to the real estate assets reflecting the
pre-development stage of most of the properties and higher
currency risk.

Even IC are not saying sell are they.

I take it you and your mates are short - PMSL - If your not careful you will force out a bidder. Salavitating at the thought

[coco] 07/12/2008 13:21

Chalva Tchigirinsky, Member of the Board of Sibir and a strategic Russian shareholder, said, "I am very grateful for the support shown to me by the Board and – I hope – the loyal Sibir shareholders, who can be assured that our team will continue to work tirelessly to deliver outstanding returns across the business".

No probs Mr T and thanks for this great oppotunity, You scratch my back and Ill scratch yours but remember - "who can be assured that our team will continue to work tirelessly to deliver outstanding returns across the business". I expect everyone from now on to work till at least 4.30 on a Friday - Thanks

[napoleon 14th] 07/12/2008 13:17

"the Eurovision Song Contest is in Moscow next year so property prices are bound to rocket as a result :-)"

You must be joking, can't be serious, or is tha :-) a laughing smiley?
Keep dreaming, ammons...!

IC is right for once; game not worth the candle here.
They got caught like the rest of us with this property scam.

If building is what you want to invest in, try SFR.

[coco] 07/12/2008 13:09

Ammons - it is also worth remembering Sibir were in talks to aquire oil related assets, the money for this has been used to aquire the recent property portfolio as the said talks have been suspended as the aquired koltigorsky Blocks will provide production further out in time. So a slight change in direction for better or worse but the cash generation is still the same.