Sibir Energy Share Discussion Threads

[bethany3] 19/2/2009 09:46

Could not see how Mr T's positon in SBE is tenable now - lets hope this does not invoke any of the conditions laid down by Sberbank in relation to the loan. Sorry guys, hope it's not too bad.

[davros006] 19/2/2009 09:32

My thoughts are with existing PI's.

Good luck.

[spectoacc] 19/2/2009 09:29

Unfortunately the co regard him as absolutely vital to the business, hence the previous farcical deal that caused the FD to resign.

If he did get anything for his shares, SBE won't have first call on the money, so the $315m would still be missing.

Huge mess all round.

[1nf3rn0] 19/2/2009 09:25

I don't care what it would do to the share price short-term, but I think Mr T should just have to dump his shares and SBE shouldn't bail him out of any amount whatsoever. The guy has f#cked up and should feel the pain like we would.

Someone will pick the shares up and SBE won't have this debt hanging over them.

[blackbear] 19/2/2009 08:36

no need for an action group everyone knew dodgy deals were occurring

[cyberpost] 19/2/2009 08:35

steve, the feds would have been in like a flash and seizing their computers, documents and making arrests.

[miamisteve] 19/2/2009 08:29

The bit I don't like is 'the consequence on Sibir's financial position'.

It comes to a point where the price of oil becomes so low that they can no longer finance the debt.

If this was in the US you would have 20 firms filing class action lawsuits on issuing falsified information to the markets, and they wouldn't even contest it because they have admitted they have botched it.

[gambler99] 19/2/2009 08:23

could be another meldex

[leeson31] 19/2/2009 08:23

aye, its credibility is going down the swannie !

if/when this opens i seriously see new lows... circa 30 odd pence....

the mrkt will crucify it!

[pugg1ey] 19/2/2009 08:21

not surprised it's been suspended if Mr T is doing the accounts Leeson31

[mpclag] 19/2/2009 08:20

I learnt my lesson with IEC- NEVER EVER INVEST IN ANYTHING TO DO WITH RUSSIA-DONT TOUCH THEM WITH A 500ft BARGE POLE!

[leeson31] 19/2/2009 08:20

if it opens LOL

[tpain] 19/2/2009 08:20

Not quite. I am thinking £1.

[gambler99] 19/2/2009 08:19

30p by the end of the day

[detroit red] 19/2/2009 08:17

Never ever trust a Ruskie !!

[spectoacc] 19/2/2009 08:15

Can only express my sympathy to SBE s/holders; what a total farce this has all been.

[cyberpost] 19/2/2009 08:14

Temporary Suspension (Sibir Energy)





TIDMSBE

RNS Number : 5667N
Sibir Energy PLC
19 February 2009

Sibir Energy PLC ("Sibir")




The quotation of Sibir's ordinary shares on the London Stock Exchange has been
suspended today at the request of Sibir. Sibir's Nominated Adviser, Strand
Partners Limited, was informed late on 18 February 2009 that the two circulars
recently published by Sibir on 2 December 2008 and 11 February 2009 were not
correct in that various Tchigirinski interests are currently indebted to Sibir
in an amount of approximately $325 million and not approximately $115 million as
set out in the latest circular. The Board of Sibir will now assess the effect of
this increase in the indebtedness on Sibir's ability to recover the indebtedness
and the consequent impact on Sibir's financial position. The Board of Sibir will
in conjunction with the major Russian shareholders who control approximately 67%
of the share capital of Sibir conduct an enquiry as to how this has happened. A
full statement detailing all the facts and circumstances (including the
recoverability of this indebtedness) will be made as soon as possible. The
General Meeting of Sibir scheduled for 27 February 2009 will be postponed until
further notice.

[matt19] 19/2/2009 08:09

Rumour has something to d with UEN.

[amargosa] 19/2/2009 08:07

Hope this is suspended in a good way. Good luck to you all.

[ammons] 19/2/2009 08:06

Takeover? Purchase of large stake? Joint venture? Sale of Mr. T's shares? Hope its a takeover. I'll miss out having sold but thats too bad for me. Good luck to all.