Sibir Energy Share Discussion Threads

[coco] 11/12/2008 09:59

Oh and I think that was dividend (14.676,000)by the way and not profit - yum yum

Regards Coco

[coco] 11/12/2008 09:52

The last interim report for the first six months of this year show Sibir as earning $14,676,000 for six months I wonder what thats worth then.

Profit contribution by segment


Upstream 1H 2008 1H 2007 %
$ 000 $ 000 change
Salym 150,612 48,689 209%

Yuzhnoye and Orekhovskoye 13,625 10,560 29%

Total Upstream Contribution 164,237 59,249 177%

Downstream

Products trading, refining and retail 166,788 47,692 250%

Share of net profit from BP retail 14,676 73%
8,480

Total downstream results 181,464 56,172 223%

Corporate expenses (38,950) (9,885) 294%

Finance costs (18,950) (1,674) 1032%

Tax (49,257) (14,062) 250%

Net Profit 238,544 89,800 166%

[wskill] 11/12/2008 09:47

Hopefully it will not go to buying more of Mr T property empire

[coco] 11/12/2008 09:42

The some of the parts springs to mind here as I mentioned last week end

Regards Coco

[coco] 11/12/2008 09:35

It is going t be interesting to know the value of the 25% of BP stations as this will put a general value on Sibir's other 100 or so stations.

[miamisteve] 11/12/2008 09:21

Selling the stations.

I presume any further help to Mr. T will be way of dividends which will benefit all share holders.

[coco] 11/12/2008 08:24

Our buyer is back

[coco] 10/12/2008 23:43

Got to laugh Ammons - Target £5.30 12 month target and to think they get paid for producing that - thanks I had not seen that.

[ammons] 10/12/2008 23:33

Some reading matter on the Kolt block written by Capital Equity Reasearch following the 27 October RNS.

[coco] 10/12/2008 23:24

Also read from the interims

Koltogorsky Exploration

In June we reported the launch of our intensive exploration programme at the eight
Koltogorsky blocks in Western Siberia where our
licence obligation is to drill 8 wells by February of next year. The exploration (and the
field appraisal and development we expect to
follow) is operated from our Magma headquarters in Nizhnevartsovsk, Western Siberia which has
led to greater efficiency and savings in
costs. We have already drilled six wells to target depth. The remaining two will be spudded
and reach target depth early next year in
compliance with our obligations. Because of the terrain and bog-like conditions testing has
been impossible and must await the onset of
winter when winter roads can be built providing access for testing equipment. The location of
the first well was picked as a matter of
licence compliance expediency and would not have been our first pick geologically. Our
prognosis is that the Jurassic reservoirs which are
our targets at between 2900 and 3200 meters depth thicken towards the west and the last two
wells drilled have confirmed this prognosis. It is too early to predict the extent of our
success, but we are gaining in
confidence that our prognosis is sound and intend to announce the results of our drilling and
an independent interpretation of these results
in the next six weeks.

[ammons] 10/12/2008 23:24

Coco,

I agree that Sibir will not sell thier 50%. What I really meant was that the JV had real value.

Heres a story involving Shell from 1 October.

[coco] 10/12/2008 23:19

Ammons Sibir will not sell shell their joint venture in salym that is Sibirs life blood to the refinary, I would expect Siber to offer shell a JV on the new kolt block - C3 970 m barrels six holes drilled six hits and a posibility of 35 oil traps

Koltogorsky Blocks

In March, 2007 Sibir announced the acquisition of a 520,000 acre (2,100 km2) exploration license area situated across eight blocks in the Khanty-Mansiysk Autonomous Area of Western Siberia with an estimated 970 million barrels of C3 resources under the Russian reserves classification (click here for map).
2,500 kilometers of 2D seismic already completed, identifying 35 oil traps at depths of 2,600 to 3.200 meters
Sibir will drill eight explorations wells - one in each block - by the end Q1 2009. Sibir subsidiary, Magma, will operate
Located in one of the most prolific producing regions in Russia with excellent in-place infrastructure (power lines, gas and oil pipelines, paved road)
Situation near the operations base of Sibir subsidiary, Magma, will allow for cost effective exploration and development operations

[ammons] 10/12/2008 23:13

Coco,

I agree that the shares are a clear buy but not convimnced about the dividend. At times like this cash conservation is paramount. Who knows what will be required to maintain our new superprime property portfolio! Also, all the bad news re Mr. T's debts levels may not be in the open yet. I think they substantially are but who knows..... Hopefully the AGM will draw a big bad bold black line under it.

The fact that the company is Russian controlled is also a plus IMO. Mr. T's shares ending up in western hands as a result of a forced sale would undoubtedly get the thumbs down from the authorities.

I've also read press stories about Shell sniffing around the company. Probably not an outright bid (because Shell is not a Russian company) but a buy out of thier joint venture. That should be worth a bob or two.

ammons.

[milliecusto] 10/12/2008 22:59

its looking very good for the next week,should be very rewarding..must be people sniffing over this 1 surely.

[fatfin] 10/12/2008 21:38

Hi ther Davron. Could not believe that this dropped back to 4p - preconsolidaton - again. Did not have the sense to buy again at these levels.

Followed $hogger into Nighthawk having sold out here at £4.40 and watched them rise to over £8.

Should do well in the long term.

Fatfin

[coco] 10/12/2008 18:48

Ammons - I dont think it will be a few more pence it could be alot more !

Evening Harry, well the close above 1.04 as in, The next move is to 1.22 where we may meet slight resistance but if SBE carries on its form then we should bareley stop for a look.

In answer too your question then I think there may be several reasons as i have previously mentioned.

Russians / directors buying shares.
Gazprom are sniffing.
JV with shell.
Dividends.
Undervalued with good cash flow.
Shorters giving up the game and closing before christmas.
All the worry about the white elephant now in the open.


Take your pick Mate its probably one ,several or all of the above but I intend to hold for a long while yet even oil is starting to pick up and SBE have a lot of oil, And although this is a company based in Russia it is also run by Russians and Although the share price does not reflect the work put in to it by the Russians - I think it will sooner rather than later provided we are not taken out.

Regards Coco

[harryh05] 10/12/2008 16:34

COCO - Why do you think we are seeing such spectacular gains for a week now?

[harryh05] 10/12/2008 16:12

£1.50 is now around the corner as expected

[ammons] 10/12/2008 13:08

I'm holding off buying more intil after the next OPEC meeting and the SBE AGM. As long as there aren't any more bombshells I'll be piling in for a shedload more. If I have to pay a few pence more than if I bought now then so be it.

[coco] 10/12/2008 08:15

The buyer seems to be back.

[coco] 10/12/2008 08:15

The buyer seems to be back.

[coco] 09/12/2008 23:35

Well bounced to the underside of 1.04 to close another 20% up we should see consolidation for now before more rises, unless the buyer returns with avengence tomorrow - interesting times.

[harryh05] 09/12/2008 21:37

COCO - I think we are definetaly heading for £1.50 by Christmas

[coco] 09/12/2008 12:25

Well it looks iec deal is through offer doc is posted - so thats alittle bit less of russian oil available to the open market - they have overpaid in todays market - now let me see the 8 k block have 920 million barrels C3 an sbe producing blocks have nearly 680 million barrels C1 and C2 then we fefine 100 million barrels then there is the commercial trading supply arms then there is the retailing arm through in a white elephant all for todays mkt cap of you guessed it 400 million undervalued in the extreme.