Urals Energy Share Discussion Threads

[ohsod1t] 18/5/2009 08:44

No one says thier buying more though!

[cmabey] 18/5/2009 08:44

Must be stops being taken out - trade at 7.5p with a bid of 8p

[lift and shift] 18/5/2009 08:42

low price aswell 7.5

[djmoggy] 18/5/2009 08:42

Gooner - this certainly explains VS's evasiveness over the last few weeks. Obviously he couldn't announce he had been given the boot - but he knew his time was up so kept on telling you and others to ring back - in the knowledge that eventually this RNS would be released and the fact it would no longer be relevant to speak to him. (Might have explained his miffed mood when he initially got the news himself).

A lot of PI's have taken this mornings RNS as negative. However it is another necessary cog in the eventual retention of the main assets. Personally I think it is just a matter of time before the eventual 'URALS have retained Dulisma and Tass with debt restructuring' RNS is released as Sberbanks efforts to either bring in a company to move the assets onto or manage the fields has been massively unfruitful.

Sberbank will still demanding their pound of flesh from UEN to allow the retention of the assets and this is where the current protracted and sensitive negotiations are centred.

The game is still very much afoot with the eventual prize for shareholders still huge multiples of the current shareprice.

It wouldn't surprise me if after flushing out the weak shareholders this today after which the price will eventually bounce and find a stable point over 10p

Mogs
:)

[mlightfoot] 18/5/2009 08:41

Ouch, could have done without that 300k sell:(

[amargosa] 18/5/2009 08:39

Sberbank must know the company management pretty well by now, can't imagine any other force behind these board changes, it's their company now (including D&T) so they will have their choice of who runs it - also makes sense to have people in charge who know the business. It's all good.

[gooner6] 18/5/2009 08:34

Jonny - Let's hope more so he isn't a fan of the club Arshavin left, otherwise i may have a problem!!

[le mass du pap] 18/5/2009 08:32

On Friday there were some on here wetting their pants that bad news was due because of the slide. Today we find out that nothing has changed and it's as you were. That's good news in respect of this. So the RNS should offer a great deal of comfort imho. The news regarding the outcome of discussions will come soon enough. In the last RNS Urals said they were strengthening the board with a view to creating shareholder value, they are!

Punters were paying 14p while we waited for news, we are still waiting for the same news. So the only winners at this price are the mm's again.

[jonnyfro] 18/5/2009 08:32

Lets hope the new guy is a fan of Andre Arshavin then gooner hey ;-)

[gooner6] 18/5/2009 08:31

That has come out of the blue!!

VS has been off limits now for over two weeks (very unlike him) as such this must of been in the pipeline 2/3 weeks ago.

In my opinion, these on going discussions with Sberbank regarding restructuring debt have possibly not involved him, that may seem strange to say, but could be the case.

Sberbank are prepared to let UEN retain D&T but want a say in the make up of the BOD and i also believe will take an equity/debt stake in UEN.

There are a number of changes happening with the BOD, these are happening for specific reason and being driven quite possibly by Sberbank.

That reason is certainly not to delist the company, there is a lot going on behind the scenes here, an awful lot of money is potentially going to be made.

[zapatanorris] 18/5/2009 08:28

Agreed johnnyfro, the relative points were in the previous rns-

The strengthening of the Board is aimed at assisting the Company with the
completion of its debt restructuring efforts. Having considered its strategic
options and in order to achieve the best value for shareholders, the Board now
intends to explore a number of options beyond the stated asset
divestiture, including preserving the listing and recapitalising the Company.

This is part of the negotiations to restructure the company and retain the 2 big oilfields. The Bank must be interested as they ars still talking. If the talks fall down then UEN will go ahead with the sale of the other fields which are worth between 20p and 60p. If they retain D and T the share price is worth a minimum of 50p. PI's want a quick return on a few shares, these guys are talking in terms of billions of dollars and have to get it right.

Having considered its strategic options and in order to achieve the best value for shareholders.

[amargosa] 18/5/2009 08:24

VS was on the board as an executive director following Pitman's exit. For me there had to be changes following the disasterous acquisition of Taas, how could those in charge during that period be the people to lead us out of this mess? (Take note Gordon Brown). So, Chairman, CEO and CFO all fired. Can only hope this is all positive for the future of the company and its shareholders.

From Dec 08:

For reasons of a recently diagnosed and acute family health issue, Charles Pitman, currently a member of the Board and Chairman, has
given notice of his resignation from the Board. He will leave the Board on 2 January 2009 in order to focus on assisting his family at this
time. Leonid Dyachenko, currently a Director and Chief Executive Officer of the Company, will assume the role of Executive Chairman at the
time of Mr Pitman's departure.

In anticipation of these changes and in order to maintain a strong and effective Board, Vladimir Sidorovich, the Company's Chief
Financial Officer, will join the Board as a Director with immediate effect to serve until the next Annual General Meeting when an election
to fill the position on the Board shall be held.

[jonnyfro] 18/5/2009 08:19

Morning all - nothing in the RNS to make me nervous either so alot of the t-traders are bailing this morning. I agree with Mr K - they cant say how far they are progressed with the debt restructuring just that they are currently exploring that as an option..

[jcgswims] 18/5/2009 08:14

1 v 3 - 5k sell 8.5 buy 50k 9.62 :)

[jcgswims] 18/5/2009 08:05

Limits buy 50k 9.9p sell 25k 8.875 - 1 v 1 :)

[wealthtransfer] 18/5/2009 08:04

If there was anything sinister in putting the new board in place, I doubt that the old board would have stayed on as non-execs. The only reason to stay as a non-exec when effectively ousted is to keep an eye on your investment/shareholding and/or your being paid sufficiently for your expertise in keeping the company going/expanding.

It does show that Sberbank are not at the hands of UEN though as some thought last week.

Not good for sentiment today, but RNS coming in next few days/weeks that will be. Imho.

[wally27] 18/5/2009 08:03

buying from someone that knows a thing or two!
Looks very positive.

[carlito sway] 18/5/2009 08:02

100,000 buy gone through.

[carlito sway] 18/5/2009 08:01

can someone call the new director and create a 'bond' between him and this board - as we can claim to own a 10% share of UEN!

[comedy] 18/5/2009 08:01

agree wally they will keep spread wide but at same time try to take the stop losses and the short termers out...think vs maybe in league with the mm's to give them another high volume day...just kidding...couldnt write this saga if you tried...why at this precise moment when he was all bullish is he "fired" and we are now at holding stage???somebody wanteing to get a cheap stake and sow uncertainty???

[mlightfoot] 18/5/2009 07:59

They like a rolling stone story;)

[jcgswims] 18/5/2009 07:59

Yes they will play on people's fears this morning and bring the price down to shake a few nervous nellies out :) Good morning all by the way :)

[goooba769] 18/5/2009 07:58

G3A Lol your not wrong

[hatto] 18/5/2009 07:58

Good morning everyone.

I've read the RNS & can see nothing in it to cause me concern.

UEN, maybe at the request of Sperbank have materially changed the two top guys presumably responsible for UEN's previous difficulties.

Its the next RNS that may be key.

[wally27] 18/5/2009 07:57

will drop back but will keep the ask price high with a large spread....buyers will come in and will prob see this blue today..

NOTHING HAS CHANGED EXCEPT WE ARE ONE DAY CLOSER TO A RESULT

pre market we are actually blue....could be buying behind the scenes.