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SBE Sibir Energy

174.75
0.00 (0.00%)
19 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Sibir Energy LSE:SBE London Ordinary Share GB00B04M0Q71 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 174.75 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 174.75 GBX

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Date Time Title Posts
09/11/202018:10Chargepoint -
06/7/201011:20Sibir Energy - Shaping up & heading for 90,000 bopd -3,595
22/10/200711:41Sibir Energy now ready to progress to growth and profit7,777
17/7/200721:16Private use.-
03/10/200616:34Sibir Energy - 20062

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Posted at 29/5/2009 17:44 by davron8
Hope the following may help some of my fellow sufferers of Russian bullying.


I have had a chat to a person with great knowledge re Sibir Energy and he has advised I shoulkd sell all of my holding. (I was going to anyway). The feeling is that no other company will consider making an offer for SBE. Even the big boys know that they have to beat the Russian Government if they try to bid.

For shareholders with certificated holdings they can send their instuctions to the company registrars Capita Registrars. You should receive the forms in the next day or so .To accept the Offer in respect of your Sibir Shares held in certificated form fill in the forms and send them to the address shown with the share certificate. The must arrive by 17th June 2009.


For Uncertificated holders, ie Nominee accounts you must sell through your broker and the shares have to be dealt through your broker.


If your Sibir Shares are in uncertificated form (that is, in CREST), to accept the Offer youshould take (or procure the taking of) the action set out below to transfer the Sibir Shares in respect of which you wish to accept the Offer to the appropriate escrow balance(s),
specifying Capita Registrars as receiving agent (in its capacity as a CREST participant under the Escrow Agent's participant ID referred to below) as the Escrow Agent, as soon as possible and in any event so that the TTE Instruction settles not later than 1.00 p.m. 1300 (London time) on 17 June 2009. Note that settlement cannot take place on weekends or bank holidays (or other times at which the CREST system is non-operational) – you should therefore ensure you time the input of any TTE Instructions accordingly.
The input and settlement of a TTE Instruction in accordance with this paragraph (b) will(subject to satisfying the requirements set out in Parts A and C of Appendix I) constitute an acceptance of the Offer in respect of the number of Sibir Shares so transferred to escrow. If you are a CREST sponsored member, you should refer to your CREST sponsor before taking any action. Only your CREST sponsor will be able to send the TTE Instruction(s) to Euroclear in relation to your Sibir Shares. After settlement of a TTE Instruction, you will not be able to access the Sibir Shares concerned in CREST for any transaction or charging purposes. If the Offer becomes or is declared unconditional in all respects, the Escrow Agent will transfer the Sibir Shares concerned to itself in accordance with paragraph (d) of Part C of Appendix I of this document.
You are recommended to refer to the CREST manual published by Euroclear for further information on the CREST procedures outlined below.
You should note that Euroclear does not make available special procedures, in
CREST, for any particular corporate action. Normal system timings and limitations will therefore apply in connection with a TTE Instruction and its settlement. You should therefore ensure that all necessary action is taken by you (or by your CREST sponsor) to enable a TTE Instruction relating to your Sibir Shares to settle prior to 1.00 p.m. (London time) on 17 June 2009. In this connection you are referred inparticular to those sections of the CREST manual concerning practical limitations of the CREST system and timings.
(i) To accept the Offer in respect of your Sibir Shares held in uncertificated form
To accept the Offer in respect of Sibir Shares held in uncertificated form, you should send (or, if you are a CREST sponsored member, procure that your CREST sponsor sends) to Euroclear a TTE Instruction in relation to such Shares.
A TTE Instruction to Euroclear must be properly authenticated in accordance with Euroclear's specifications for transfers to escrow and must contain the following details: the ISIN number for the Sibir Shares. This is GB00B04M0Q71;
the number of Sibir Shares in respect of which you wish to accept the Offer (i.e. the number of Sibir Shares to be transferred to escrow your member account ID; your participant ID; the participant ID of the Escrow Agent. This is RA10; the member account ID of the Escrow Agent for the Offer. This is JSCSIB01; the intended settlement date. This should be as soon as possible and in any event not later than 1.00 pm on 17 June 2009;
14 input with a standard delivery instruction of 80;
· the corporate action number for the Offer. This is allocated by Euroclear and will
be available on-screen from Euroclear; and
· the contact name and number in the shared note field.
(ii) Validity of acceptances in respect of Sibir Shares in uncertificated form
A Form of Acceptance which is received in respect of Sibir Shares held in
uncertificated form will not constitute a valid acceptance and will be disregarded.
Holders of Sibir Shares in uncertificated form who wish to accept the Offer should note
that a TTE Instruction will only be valid acceptance of the Offer as at the relevant closing
date if it has settled on or before that date.
(iii) Overseas Shareholders
The attention of Sibir Shareholders holding Sibir Shares in uncertificated form and who are
citizens or residents of jurisdictions outside the United Kingdom, or who are nominees of,
or custodians or trustees for, any such person, or who intend to forward this document to
any jurisdiction outside the United Kingdom is drawn to paragraph 4 of Part A and
paragraph (c) of Part C of Appendix I, which they should read before taking any action.
The availability of the Offer to persons not resident in the United Kingdom may be affected
by the laws of the jurisdictions in which such persons are resident. Persons who are subject
to the laws of any jurisdiction other than the United Kingdom should inform themselves about and observe any applicable requirements.
The Offer is not being made, directly or indirectly, in or into, or by the use of the mails or any means or instrumentality (including, without limitation telephonically or electronically of interstate or foreign commerce of, or any facilities of a national securities exchange of the Excluded Jurisdictions). Copies of this document, the Form of Acceptance and any related offering documents are not being, and may not be, mailed or otherwise distributed
in, into or from the Excluded Jurisdictions. Accordingly, any accepting Sibir Shareholder who holds uncertificated Shares who is unable to give the representation and warranty set out in paragraph (c) of Part C of Appendix I of this document may be deemed not to have accepted the Offer.
If you are in any doubt as to the procedure for acceptance, please contact Capita Registrars on 0871 664 0321 or, if telephoning from outside the UK, on +44 20 8639 3399. Calls to the Capita Registrars 0871 664 0321 number are charged at 10 pence per minute (including VAT) plus any of your service provider's network extras. Calls to the Capita Registrars +44 20 8639 3399 number from outside the UK are charged at applicable international rates. Different charges may apply to calls made from mobile telephones and calls may be recorded and monitored randomly for security and training purposes. Capita Registrars cannot provide advice on the merits of the Offer nor give any financial, legal or tax advice.

June 17th is the final date so deal early to avoid delays and possibly missing the date.
Posted at 28/4/2009 22:38 by jpgh
I just want to see $400m worth of SBE shares, valued at the time of delisting (£1.70 or $2.10 or say 200m shares) returned to SBE coffers in lieu of money owed. Then other Chigirinski claimants can eat up the rest of him.

500p is a minimum bar set for shares upon relisting. Thereafter its the market again who decides the value. Might see a big drop as sellers panic so might be more in this to make a good return. I'll be a buyer on any meaningful share price weakness.

JPGH
Posted at 23/4/2009 22:21 by bethany3
These brokers are so unscrupulous. Even with the stock suspended they were trying to buy at a low sp/less than NAV if possible, when clearly SBE had not been approached formally and a firm offer made and accepted by SBE, instead direct to shareholders offering two different share price Never known anything like this ever happened before but stand corrected. Last trade for 49700 shares were at 500p. How was that possible on a suspended stock? No grey market, was there?
Any way any one holding must be thanking their lucky stars this scenario is real!
Posted at 23/4/2009 21:39 by davron8
This situation is certainly the strangest one I have known since first buying Sibir shares in 2000. On several occassions I have sold and bought back in later and always at a very good profit. My last buy was 3rd Dec 2008 at 39p when I topped up with 12500 shares. I have always believed in SBE and Mr Cameron whom I have met on a number of occassions so recent events have been a great shock. The acting CEO is a first class person but then I thought Cameron was so must wait and see if I'm correct now.
As to the share price I'm certain we will see an offer if one does proceed in excess of £6-00 per share. If no formal offer comes forward then the shares are worth holding for the longer term. Of course it is in my honest opinion.
Good luck to all the older holders.

PS have a look at Ascent Res. This is going places. Reminds me of Sibir years ago but without being in USSR.
Posted at 22/4/2009 17:15 by gatdecor
from FT.com

Hurry, special offer for Sibir investors
Posted by Neil Hume on Apr 22 16:12.
It's BP-TNK and they are prepared to offer 430p for each share. (And no, that's not a typo).
But don't hang about as this once in a lifetime offer, which values the scandal- hit Russian oil explorer at a cool £1.6bn, ends on Thursday.

From a stock exchange announcement released on Wednesday afternoon:
Credit Suisse International has launched a fixed price reverse accelerated bookbuild to purchase shares in Sibir Energy plc at GBp 430 on behalf of TNK-BP.

TNK-BP is seeking to acquire a significant minority stake and has not reached any agreement to acquire shares from the controlling shareholders.

Sibir Energy plc is listed on AIM (Ticker: SBE LN). The shares are currently suspended and Credit Suisse International make no representation as to the accuracy or completeness of public information regarding Sibir Energy plc.

RESTRICTIONS:
* Member firms of the London Stock Exchange are prohibited from trading the shares while suspended * Reg. S Outside the US * No offer to the US, Canada, Australia and Japan

INDICATIVE TIMETABLE
Books open: Immediately
Books close/pricing: Thursday, 23rd April

For further information please contact:
Matthew Duggan, Credit Suisse +44 20 7888 0173.

The background here is that shares in Sibir were suspended at 174.75p in February after the company discovered Russian businessman Shalva Chigirinsky (who is the co-owner of Benefield) had "borrowed" $325m from its bank account.

Sibir then launched a high court action against Chigirinsky and another director to recover the cash, and rather curiously issued this statement last week:

The Board of Sibir notes press articles reporting that the Russian joint venture oil company, TNKBP, is preparing an offer to acquire Sibir shares. The Board confirms that it has not received any approach or any offer from TNKBP.

Of course, what is interesting here are the motives of TNK-BP.

Presumably, TNK wants to get some sort of leverage over Sibir's Salym oil fields in western Siberia. But there is one problem with these fields, which are world class and producing 160,000 barrels of crude a day: they are held in a 50-50 joint venture with Royal Dutch Shell.

However, Shell might welcome a local partner such as BP-TNK. After all, most of Sibir's current problems are to do with political risk and corporate governance issues. These could be much less of a problem with TNK on board.

Still, tempting as it might be, Sibir shareholders might want to resist selling out just yet - because the company has received another approach:

The Board of Sibir (the 'Board') notes the announcement of a fixed price reverse accelerated bookbuild to buy shares in Sibir by Credit Suisse International on behalf of TNK-BP at £4.30 per share. The bookbuild is a market operation which does not involve the co-operation of Sibir.
The Board confirms that no approach has been made by TNK-BP to Sibir or to its advisers. However, Sibir has received an informal approach from another party in relation to a possible offer for Sibir. Discussions with that party are at a very preliminary stage and there can be no guarantee that an offer for Sibir will be forthcoming.

But then again...perhaps they should bite the arm off BP-TNK.
Posted at 16/4/2009 22:39 by coco
What makes you think im a him - bethany if you hold the shares I would not be concerned value will out in the end, Ignore the noise and look at the value.

To be honest I did not know Sbe was to be suspended but it was being played by the big players.

Isis is not me - do the decent thing and apologise, you are wrong once again -trust me. That may be difficult but you are wrong. If you reread the posts around 1005 on the Lgen thread you will get the coincidence.

just so you are aware I probably placed 30 - 40 trades on SBE some winners and some not. the company is undervalued even today and if the suspension was lifted tomorrow I would be a buyer overall.

I am amazed you have taken this to heart as you have - Maybe you have money tied up - as I say value will out in the end. This is the stock market and is full of ups and downs - sbe was being played and the wall of money was controlling the price - I can see why Mr t and cameron did what they did although it was wrong - I think I was too busy looking at the knowns rather than the Unknowns and it was L2 and other prospects that took me out of SBE although in the long run there is a good chance that I would have made more by staying in.

I will not answer any more posts on theses issues and I sincerely hope your investing pays off for you.

Regards Coco

P.s Sbe is undervalued and I hope to invest here again.
Posted at 20/2/2009 21:10 by squintyflinty
For me shell would be the obvious take out choice.They are already in a 50.50 partnership with SBE on the salym oil fields which is the most lucrative oil field in Russia.They would then own 100% and even at £2 per share it would be a steal. I was hoping that the SBE share price would have risen to around the £2.75 mark before a bid was launched. We would then have seen around £4.50 per share.Anyway,I shan't be selling any of my holding when the shares resume trading. I will take it to the end game just like I did with IEC.
Posted at 20/2/2009 19:42 by bethany3
squinty......agree it's low if you were in ages ago - just my take. However, still not very far off pre-suspension share price and damn side better than what share price would be when it does return without a bid.

SBE with current production level plus other assets were trading at 170p pre-suspension, why did you think that was? Uncertainties about Mr T's 'baggages' and location of assets perhaps? Who would be the deal maker in the future if Mr T was forced to resign - near certainty having offended the City of Moscow officials? A non Russian? Be very surprise if SBE remain independent for long when it does return if a bid has not already been tabled before.
Posted at 20/2/2009 15:08 by bethany3
squintyflinty.......resident ramper is that individual/git whose username sound like a half brother to Horlicks - a famous drink - and starts with a C _ _ O.

Mr T would not have been able to obtain a loan from Sberbank unless it was 'guaranteed' by Mr Kasaev or his holding in SBE used as collateral.

Hopefully between now and a return from suspension a lot of 'horse trading' are going on in the background. Mr T would not be part of SBE when SBE returns from no doubt and Mr Cameron be gone shortly after with a Russian CEO in charge. As for share price hope it's north of 50p and maybe a deal done for the company to to taken out at 125/150pps when it returns. If not the share price would languish as credibility and lack of governance by management would deter even the diehard supporters of SBE to pump any more dosh into SBE. A fund raising is only possible if backed by the City of Moscow.
Posted at 11/2/2009 11:32 by bethany3
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!
Sibir Energy share price data is direct from the London Stock Exchange

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