Urals Energy Share Discussion Threads

[chavitravi2] 24/5/2018 12:15

That was Nadeer, he was careful to be on the Turkish side of the island.

[neftanik] 24/5/2018 12:13

Thank you topical. It's all fairly obvious, but unfortunately there seem to be a lot of deniers invested

[lalria] 24/5/2018 11:18

lets see some steady buying now and increase now. Any little bit of buying should see this fly

[chavitravi2] 24/5/2018 11:13

It's just the usual. One may as well just say it's an advance on the oil shipment payment. This loan may well help with the tax we pay, an off set maybe.
It does more good than harm IMO to have it there.

[djmoggy] 24/5/2018 10:51

Darren - due to ice and weather conditions (for loading) - there is only a short window for shipments.

[djmoggy] 24/5/2018 10:50

Russian oil cos need to pay excise taxes and export duties prior to shipment - hence prior to receiving payment from Petraco for the crude that is sold.

These duties/taxes equate to around the $4m mark - so it's just an IOU to tide the company over - nothing sinister or backhanded about it.

They do this so that cashflow generated by operations can solely be used for drilling/workovers and other Ops work. The interest payment if you are worried about is will have no material effect on the company and is a tiny percentage of the actual revenue/profit. (for example the $6m loan from Petraco in 2016 cost the company $35,000 in interest).

[steve73] 24/5/2018 10:44

Didn't someone mention a few weeks or so ago that they need the loan to pay the tax upfront on the forthcoming shipment.... and then we get the full proceeds of the sale and can repay the loan..

Might be better to forego the next Div, and use the cash to see us over next time.... or maybe since this is Russia, it's better to get the cash out while we can....

[lalria] 24/5/2018 10:40

I think it is a good thing that they are able to borrow approx half what the company is worth. I think the guys that met the board said they will continue to borrow this money so no surprises that they have taken the short term loan

[darren81] 24/5/2018 10:38

they are not going to have a placing Spandy - it would make no sense to pay a divi and then to have a placement!

[darren81] 24/5/2018 10:37

It's disappointing that they didn't organise the tanker shipment earlier so that we wouldn't need the loan - surely it makes more sense to have the shipments 6 months apart rather than having a 9 month wait between the winter/summer shipment and then have another shipment only 3 months later!

[spandy83] 24/5/2018 10:35

Rather have a loan at a reasonable rate than a placing :)

[martyn9] 24/5/2018 10:27

Why the hell do we need a short term loan ffs? other than line the pockets of petreco,nice back hander on a plate.

[chavitravi2] 24/5/2018 09:40

Neo26, we shall have to see when we hit depth shortly. Keep in mind it's an exploration well. The exploration well at the other site drilled some years ago was producing 130bopd.

[neo26] 23/5/2018 22:51

Really baffles me this small mkt cap, they own machinery and have decent 2p reserves.Btw what are they estimating the flow rates from current well?

[lalria] 23/5/2018 15:05

Or it maybe when I called Allenby a few weeks ago, which I haven't had a response back yet

[lalria] 23/5/2018 15:04

Just got a random message response from the company stating that my request for information has been passed to the relevant area for consideration and I will be contacted. Not sure which of the numerous questions I have sent on the Q&A section that they are responding to but looks like they are looking into questions asked to them via the website. Maybe we have something coming out soon

[djmoggy] 23/5/2018 13:24

Neft - I think the management know they have to do their utmost to ensure the securing of a JV partner to drill exploration wells at Komi and Arcticneft. Whether they do or not and which twobob outfit it will be with is open to debate and I somewhat agree that your points have validity.

However with declining production at Petrosakh and poor previous drilling performance - I think there is only a certain amount of support Shevets (via Adler Impex S.A.) will be willing to provide. I think the management know that they need to pull an M&A/JV rabbit out of the hat to stay in/justify their roles so they will be working extra hard to achieve this!

Either way with the pressure now on the shareprice will go up - whether it be as a result of successful drilling, JV partnership, change of management or even sale of company. The potential for upside far outweighs the downside risk!

[chavitravi2] 23/5/2018 13:10

Neo26, you are just missing what everyone else is missing, so far that is. That this is grossly under valued on what we have already never mind what is to come.

[fromthesidelines] 23/5/2018 12:38

neo26they're going to 2000m. bad weather held them up but this was expected. TD 2nd 1/4

[martyn9] 23/5/2018 12:34

Neo26,the first three months were written off due to very bad weather conditions,it is the arctic afterall.Drill news Q2 by the end of june.

[tone the bone1] 23/5/2018 11:15

Neftanik
I do not know more than you.. Your knowledge of the Russian oil industry is not in question .
I believe you have been on the wrong side of investing in Urals in the past when.I guess you had faith once.
The company has changed so much since its collapse and suspension a decade ago Urals has downsized and is now growing again .

What do I think ? .....
I believe what I read in their RNS and to be honest they are often down beat.

I believe in their genuine enthusiasm I saw in the two London meetings and most of what they said on plans but it is slower than we would like

As of yet I do not believe they are capable of drilling new wells (only one success in years to my recollection of about 60 bbd ).
I hope to be proofed wrong on that point by the end of this second quarter.
I believe in this company but the Russian system is something that is to say the least complex and dare I say suspect.
Again your knowledge Neft is better than mine .What do you think of " The system" for small oilers in Russia ?

[neo26] 23/5/2018 10:57

Is this company a con? Mkt cap 11m but produced 2000bopd. Mkt cap should be over 5 times thats with discount.What are we missing here?

[neo26] 23/5/2018 10:37

Can someone tell me why it takes 6 month to drill down to 2000 ft?

[bangers and cash1] 23/5/2018 10:32

Possible reserves of 256.4 million barrels in the Komi republic which is the license in question. Not a very small operation is it really.