Sibir Energy Share Discussion Threads

[bethany3] 02/2/2009 23:34

need_2b_brave......possible reasons for slide

(1) profit taking after steep rise recently
(2) uncertainty about future role for Mr T if Mr T's finances deteriorate
(3) who would buy Mr T's stake
(4) would happen if Mr T sells his stake to the City of Moscow
(5) what future role for Mr Cameron if City of Moscow is majority owner

[need_2_b_brave] 02/2/2009 22:59

i just dont get it, with increase production and the drop out of real estate, shouldnt these go back up from where it fell! it sickens me the behaviour of the stock market, very unfair, anyone know the results day

[tonysss13] 02/2/2009 21:49

oops sorry not sure how the hell that happened

[coco] 02/2/2009 19:55

you can say that again !

[tonysss13] 02/2/2009 16:49

lol Dunderheed no problem

[need_2_b_brave] 02/2/2009 16:02

according to last rns, more news this week

[a3477681] 02/2/2009 15:03

At the AGM Stuard Detmer was very upbeat about the prospects for Koltogorsky which is an area they know well. The company considers the reserves are as follows for these blocks:-
"In accordance with Russian GKZ categorisation the Blocks are estimated to contain a total of 970 million barrels of Russian category C3 oil resources based on the interpretation of 2,574 kilometers of 2D seismic profiles. The Blocks feature excellent available infrastructure including an oil trunk pipeline, a wet gas pipe line, as well as paved roads and power lines, thus limiting eventual capex outlays should the project move to the development stage."

They are already using the gas from the fields for 60% of their power needs instead of flaring it off.

[a3477681] 02/2/2009 14:50

Tony, Miami
The property announcement was made in early October when the price was 400. It could be argued that the market had got wind of what was going on much earlier on. It dropped to 35 but I gave it 50 for round numbers hence the approximate 350 p. We are way short of that now and the fundamentals of the company no way justify the present price. We will see!
To answer the Q from Squinty about reserves (which anyway is in the header) They have got huge reserves and are very good at extracting them faster than any other company working in Russia:-
Group Reserves Summary
The Group's interests in commercial reserves of oil as of 30 June 2008 are included in the unaudited table below:
Russian reserves classification (1)
Million barrels
A+B+C1+C2 = 646 (edited from 1292)

1. Russian reserves are classified as follows:
A = reserves proved and developed in accordance with approved (by Russian Authorities) development plan.

B = reserves proved and developed in accordance with early development plan.

C1= reserves tested and mostly proved but not developed.

C2= reserves contiguous to C1 and substantiated by geological data and lie within probable, possible and contingent.

[tonysss13] 02/2/2009 14:04

Dunderheed maybe you should read my post again

[dunderheed] 02/2/2009 13:54

tony - you can only ever lose up to 100% of your share price - not more!!

[miamisteve] 02/2/2009 13:50

A3477681 - The share price was actually lower than the current levels prior to the announcement of the extended property purchases. I know because I bought at 97p and watched it crash to 35p intra day.

2 things to consider -

1) The city of moscow had already vetoed the real estate purchases, so an element of the result had been factored into the share price

2) What happens now to Mr. T and his shareholding that was imperative to preserve at all costs?

The circular later this week should reveal.

[tonysss13] 02/2/2009 13:27

sorry you have lost me Dunderheed

[dunderheed] 02/2/2009 13:24

tony (post 2759) nearly 200% - what happened did the shareholders end up owing money to some creditors?!

[tonysss13] 02/2/2009 13:22

A3477681 it had already risen nearly 200% from it's lows even before the friday's news. Friday was a great shorting op and the fall back today shouldn't be a surprise to anybody

[a3477681] 02/2/2009 13:05

Looking at the present share price of 150p Its curious to contemplate why it should be that the share price only rose 15p (57m on the mkt cap) since the property acquisition cancellation, when after the original acquisition was entered into it dropped 350p (1.35 bn). It suggests that there is a long way for this to go and the profit takers may regret their action. Even allowing for poor sentiment about the Russian economy from todays news this still seems a very harsh valuation. I bought again today at 150 and await the next updates with interest.

[3mahal] 02/2/2009 12:39

this was ground down to 150level to accommodate 3/4 million buy at 151 IMO

[squintyflinty] 02/2/2009 12:03

Are the proven reserves of Sibir Energy any where near as large as Imperial energy's reserves?

[coco] 02/2/2009 10:42

Could be to work an average share price as well we will see

[1nf3rn0] 02/2/2009 10:40

Looks like it's been walked down to 150p for a last chance to top up at bargain prices.