Urals Energy Share Discussion Threads

[tone the bone1] 06/2/2017 10:41

Topicel.
I used the link on Ural Energy site but my email bounced .I will try it again or look for other options .
In reality it would appear we are starting to be noticed goodness knows what decent media coverage would bring . ( At long last)

[martyn9] 06/2/2017 10:40

Imo, this is for the long haul,25/30p end of this year.bwtfdik.

[djmoggy] 06/2/2017 10:27

Well irrespective of what Adler bought in for and what they want - it doesn't mean we don't have interested suitors whilst the price is at current levels i.e. Hoovering up available shares. As per usual despite this mornings increase there is a strong demand for shares from the MMS. You can still sell in chunks of >250k online.

[calmtrader] 06/2/2017 10:20

Adler want a return thats why they are getting divs paid..cant see any bid coming unless its north of 30p

[topicel] 06/2/2017 10:03

Chav, they averaged a lot less than 12p. Please remind yourself of all the details as per my posts yesterday, the last take over approach we know about was rejected THREE years ago at 12.25p. As reported in the Financial Times.

The likelihood since is Adler would indeed expect much more for their time and trouble here, and I agree 20p would be a minimum line in the sand.

Paul the O, I still say you are behind the curve with your price progress mon ami. We have to wait all week before moving on? Lol.

Topicel

[djmoggy] 06/2/2017 09:58

All of UENs recent financial reports specifically state that a price of $45 per barrel is the basis for ongoing operation / growth. Now that Oil is pretty much guaranteed to be min $50+ UEN looks very attractive to investors and predators alike.... hence the long overdue re-rating.

[canny lass] 06/2/2017 09:57

No Chav, it's another oiler SOLO Oil. Actually it is not doing too bad. They released a good RNS today.

I wish i had bought some SOLG in the low single fingers. I know, iknow, you did say and i should have listened. LOL.

[chavitravi2] 06/2/2017 09:55

Could be moggy, but if not Adler they can forget anything under 20p IMO simply because Adler paid 12p for their in and I can't see them accepting anything less for their time and trouble.

[djmoggy] 06/2/2017 09:50

7p on the bid will be the next level of resistance / support. At this rate I can see UEN sailing through. However I believe the above is irrelevant and believe that we could be subject to a bid by an interested buyer (who may well be Adler) snapping up free float in the background.

[chavitravi2] 06/2/2017 09:48

Canny, do you mean SOLG?
Bloody hell, they are letting it go.

[paul the octopus] 06/2/2017 09:47

if this week brings 6p (ticked)before next week brings 7p (ticked)all going to plan gents, momentum at its best...Paul the Octopus - 01 Feb 2017 - 15:16 - 19037 of 19122 -if this week brings 6p (X)before next week brings 7p (X)before next weeks brings reserves update 8-9pbefore next month brings drilling update 10-11pbefore June shipment brings 12p+before August shipment brings 15p+before dividends getting paid end of year 20p+before ...before ...

[topicel] 06/2/2017 09:46

Tone, you're saying the Q&A is not answering?!

I'm sure it was before Xmas. Which is before we started seeing the significant action here of course.

My links above were apposite to all of this as Barskiy or similar might be sniffing around again hence the BoD acting as they have on Capital Reduction and Q&A and generally manning the ramparts for another attempt to take over here...

As can be seen, and those of us who recall it all, there is a lot of interested people and parties who want to prise this asset away from Adler and we know 12.25p was nowhere near tempting enough in 2013.

With more P2 reserves and acquisitions since, improvement in Russia/US relations on the cards and dodging the petro-dollar control more generally, the chances are Russian tiddlers like UEN are high on the agenda and shopping lists of plenty.

Expect a fresh offer sooner than later is my bet.

Topicel

[basem1] 06/2/2017 09:43

Bet there's a delayed trade at 6.45/6.5 to come for a 100k or so.

[fillipe] 06/2/2017 09:43

7p showing at the best ask on L2.

6.9999p paid, 0931hrs.

f

[canny lass] 06/2/2017 09:41

I got that wrong in my earlier post.

Based on my belief, i opted to buy some SOLO instead of more UEN. Not the best of decisions.

[ripvanwinkle3] 06/2/2017 09:36

Price seems to be rising on very low volume

[gregpeck7] 06/2/2017 09:35

Mm's are desperate for stock here

[tone the bone1] 06/2/2017 09:30

Forget that QA
It has been rejected "Recipient not authorised"

Anyone else tried lately?

[gregpeck7] 06/2/2017 09:25

8p this week?

[chavitravi2] 06/2/2017 09:25

If you don't ask you don't get.

Up she goes.

[tone the bone1] 06/2/2017 09:01

I have just posted on Urals Q+A site re marketing and media releases..
a) Are the board happy Allenby Capital's efforts.
b) Are they considering other options to increase UEN's profile in light of what is being achieved .

RNS's are good but it's not marketing

Can't hurt to ask imo.

[canny lass] 06/2/2017 08:23

Not sure we will see too much activity this week without some positive news. Fingers crossed my judgement is wrong.

[calmtrader] 05/2/2017 21:54

Simply ..cracking assets ..cracking new assets..cash flow positive ..divs coming..now well run ..silly price

[topicel] 05/2/2017 21:43

Yep, thought so, ex-Matra. Also from the FT three or so years ago...



Maxim Barsky in spotlight over attempt to oust Urals Energy board


September 25, 2013
by: Michael Kavanagh


Maxim Barsky, former deputy chief executive and heir apparent of defunct Russian oil group TNK-BP, has emerged as the figurehead for an attempt to oust the board of Aim-quoted Urals Energy.

Shareholders controlling just under 31 per cent of the oil producer and refiner have demanded an extraordinary meeting in the next month to elect a new board charged with turning round the company's fortunes.

Alpcot Capital Management, a specialist investor in eastern Europe, alongside fellow shareholder Fire East Corporation, is calling for the installation of Mr Barsky as chairman, along with the election of TNK-BP’s former chief oil trader Jonathan Kollek and existing Urals board member Torbjörn Ranta as directors of a slimmed down board.

In a joint statement on Wednesday, the leading shareholders said all three of the proposed directors “have a proven longstanding track record of successful operation of oil companies in Russia”.

The shareholder revolt, if successful, would see existing chairman Andrew Shrager removed from the board, along with chief executive Alexei Maximov and remaining directors Leonid Dyachenko, Aleksey Ogarev, Ingeborg Srenger and Stephen Buscher.

Urals Energy was set up in Cyprus in 2003 with an initial investment of $80m made by founding investors who had worked together in accumulating oil and gas assets. It was eventually sold to Russian oil group Lukoil

The company raised a further £64m at 240p a share when it floated on Aim, London’s junior market, in 2005 in an IPO that valued Urals’ equity at £198m. However, its shares have generally traded at below 10p since 2009 as the company’s operations have contracted to licences held in the Barents Sea and Sakhalin Island off eastern Siberia’s coast where Urals also operates a refining business.

On Wednesday shares stood at 6.9p, valuing its equity at just £17m.

Urals confirmed it had received a request to hold an EGM to consider the removal of all but one of its existing board but indicated that it would decline to comment further until the release of interim results later this week.

Mr Barsky said he accepted that conditions in Russia were not conducive to expansive dealmaking by smaller operators because of the high costs demanded for assets and constraints on raising equity.

Matra, which emerged last year as Mr Barsky’s own Aim-quoted vehicle, has itself failed to strike deals in the former Soviet Union and was now concentrating its efforts on securing depleted US oilfields ripe for redevelopment, he said.

However Mr Barsky, once groomed by BP to take command of its Russian joint venture TNK-BP, said Urals had failed to deliver value while absorbing excessive salary and central office costs.

“The company has lost most of its assets,” Mr Barsky said. “The company needs to develop assets – if you can’t develop it [an asset], sell it.”

Topicel

[topicel] 05/2/2017 21:31

Some old MTA guys here? Wasn't Barsky a big player in Matra?

Who knows what power plays are still being played out among our powerful Russian friends? Maybe fresh impetus? Either way, Barsky must have seen something worth grabbing, as did Fire East back then...

Pot boiling?

Topicel