Sibir Energy Share Discussion Threads

[bethany3] 11/2/2009 11:32

So for the next 270 days or slightly sooner unless there's corporate activity - like Mr Kaseav himself loaning at least $192m to Mr T - the POO and real estates value improve and world economies pick up markedly SBE's share price I think, would more lightly be in the 'doldrums' rather than up.

If Mr T is not able to fulfil his obligation to repay Sberbank in full and as I understand it, Sberbank has 1st call on his holdings in Orton Oil which in turn means his holding in Bennfield and ultimately his holdings in SBE. And with this 'cloud' hanging over SBE, Miami......think your wish might be granted. DYOR!

[miamisteve] 11/2/2009 11:11

The other mid cap. I was looking at was DGO, but it's run up a bit lately. Maybe a buy below 145p.

Has around 60% of it's market cap. in cash.

[need_2_b_brave] 11/2/2009 11:07

thanks but that looks even worse hardly any trading! sooner sbe gets the results out the better

[miamisteve] 11/2/2009 10:58

brave - A high risk oil stock (no current production, no debt) that I am holding is TMAN.

700m + barrels p2 (more than sibir) but with a MKT. Cap. of £28m (after loan conversion) and huge exploration upside.

I hope there for x20 return from current prices. Currently slight overhang and low volume so maybe buyable at 7.5p later this week.

[need_2_b_brave] 11/2/2009 10:41

guys can u recommend any other good oil shares

[a3477681] 11/2/2009 10:36

squinty
I thought it would move a bit quicker but it probably takes a day or two for the analysts to really think this through and advise funds and clients on their recommendations I guess. Some strategy meetings and calculated decision making before buys are made. Henry wants the Russian shareholder base protected and he has got that because that is needed to operate in Russia. But it seems that the city distrust anything that isn't a BP or Shell. BP has had its horn severely trimmed and Shell depends entirely on Sibir for its success. However Sibir now has its own gas stations and its own oil fields and exploration sites and they are going to exploit them asap...watch this space.
Coco whats your take on this?

[coco] 11/2/2009 10:30

Dont worry the coffee machine has been turned on they will be smelling it soon

Regards Coco

[need_2_b_brave] 11/2/2009 10:28

if i was the director i would buy back all the bloody shares in the market

[a3477681] 11/2/2009 10:17

Interesting upgrade from Cazenove to outperform. They calculate price is at a 74% discount to core NAV of 637p. They say the up and downstream assets are world class and importantly safe. Sibir able to recover loan and even in the worst case that they recoup zero then NAV would only decrease by 3% (21p. So what are you waiting for guys here's a chance to make some bucks in an otherwise lousy market.

[squintyflinty] 11/2/2009 10:04

Don't understand why this has not rocketed today. Am I missing something in this RNS???

[coco] 11/2/2009 09:11

well look at the comparisons then

[miamisteve] 11/2/2009 09:08

IEC was a trading position due to the takeover, I'd actually rubbished the company previously saying that it would not reach production targets (which it didn't) and that it still required significant financing even after the rights issue. I saw value in august with the price at £10, a bid at £12.90 and the prospect of a bidding war.

No one could have predicted the calamity that followed.

Still made a £100,000+ gain, although a mute point given the fall in sterling over the period.

[coco] 11/2/2009 09:00

lol by far and many times better value than IEC Miami.

[miamisteve] 11/2/2009 08:57

Have never been short. Was looking to buy lower and if real estate deal was clarified to my liking. Still on the sidelines at these prices.

[coco] 11/2/2009 08:41

I would now close your short Miami

[need_2_b_brave] 11/2/2009 08:40

L2 LOOKING GOOD, MM TREE SHAKE

[miamisteve] 11/2/2009 08:30

It's not the worst outcome. They have no further exposure unless Mr. T is unable to realise $300m+ in real estate sales within 270 days and they wish to preserve the shareholding structure.

The problem with the property portfolio is that they are all incomplete projects and require further capital, which would make them a little harder to sell in the current environment.

[need_2_b_brave] 11/2/2009 08:25

DOWS GONNA RALLY TODAY

[1nf3rn0] 11/2/2009 08:21

SdG. I think they're left exposed to up to $115m, which isn't an awful lot for a co producing +80,000 bopd... plus I'm sure they'll manage to dispose of a decent chunk of the real estate to reduce this figure. It could definitely be much worse! I think they've done a good deal here.

[coco] 11/2/2009 08:09

Well see Miami well see

[symphonie des grauen] 11/2/2009 07:49

so in effect SBE are still left exposed to potential loss or indeed a claim?

[miamisteve] 11/2/2009 07:45

Not quite - If the Orton oil debt is not repaid in 270 days, Sberbank have a call on Mr. T's stake in Bennfeld.

[coco] 11/2/2009 07:39

Sbe is protected and thats good news - the busness will not be at the mercy of the property and there is no pressure that can be applied to the share price.

Regards Coco