Urals Energy Share Discussion Threads

[ripvanwinkle3] 23/10/2018 11:40

I believe this will end in insolvency, unfortunately.

[gregpeck7] 23/10/2018 11:39

I read that and think there is more going on here, as that update sounds bloomin awful!

Considering the divi was going to cost about 500,000 USD, how can being 1.5 million USD down put them in such a situation... There is no cushion at all here based on that... Very very concerning TBH...

[martyn9] 23/10/2018 11:38

Not what i wanted to hear, still cannot grasp why we can't ride this providing weather allows the shipment on time.

[chavitravi2] 23/10/2018 10:43

On that I can only think mm have orders for shares and don't have enough on hand to fill them. We shall see.

[darren81] 23/10/2018 10:11

seems like they're looking for shares, a couple of more ticks up on zero volume (that we can see yet)

[darren81] 23/10/2018 08:18

Not long to go before the self imposed "end of month deadline", wish they'd hurry up and let us know progress of the meetings with Kononov

[martyn9] 23/10/2018 08:17

There you go greg,better late than never!

[gregpeck7] 22/10/2018 19:03

Surprised no mm's moved today.. 1 v 1 All day long...

[defender3] 22/10/2018 17:32

if you sit back and read through the last 4 or 5 r n,s you can see that the company has had quite a good year .
it received as people have pointed out aprox $ 8.5 m from the first tanker . it should receive aprox the same from the next shipment .the only reason that the accounts don.t read that well is that in the rns on 28 sept the first tanker shipment had not been included in the first 6 months trading report . what we will find in this next rns is what the money from both shipments will be . hopefully they will give us some sort of indication what money we have , what they intend to do with it ,and tell us more about the what they have spent on the port , im still confident that all will be fine and that all the money we have will be accounted for

[chavitravi2] 22/10/2018 17:15

Greg, staffing levels were cut back quite some time ago.
Nice buy last off.

[neftanik] 22/10/2018 15:37

They don't work for Urals Energy. They work for Petrosakh or Arcticneft

[gregpeck7] 22/10/2018 14:43

I am just thinking it must be a pretty big number with the refinery and all? Would like to know what it costs them on average per person and how many people there are.. I also wonder if the are "over" employing.. A few nudge nudge wink wink jobs for the boys... As I really do think they "should" have more cash than we ever seem to have... Is it getting p1ssed away on wages?

[darren81] 22/10/2018 14:35

no idea greg, cant see info in accounts/website

[gregpeck7] 22/10/2018 12:37

Darren how many people do UEN employ?

GP

[darren81] 22/10/2018 12:16

gaffer, I think you've used the term "payday loan" very carefully here (perhaps to scaremonger), the inference being that we're paying an extortionate level of interest / being exploited, that is clearly not the case!!!

Interest rates for the loans is very reasonable in comparison to usual Russian rates.

We have a good working relationship with Petraco, and have done for many years, they could have taken our assets previously but they have no interest in this, they just want the oil shipments and have no interest in the day-to-day running of Art.

In an ideal world we wouldn't need the loan but given half of our production goes into storage for the two shipments, we need it to pay taxes due. Once SD starts producing a decent amount, as has been inferred from recent RNSs, then the need for the loan will disappear as we should be able to cover year round taxes from Art with the profits from Pet.

[martyn9] 22/10/2018 12:01

Gaffer, correct shareholders have had a kicking since consolidation, more dilution with the share price will not encourage any investment.We don't know whether the problems of late will be successfully sorted yet loan/drill flow tests.

[gaffer73] 22/10/2018 11:44

Sorry fat fingers. They are exactly that Darren, loans until they get paid. The company still has this debt and will not be able to pay it off if things don't change. A structured loan over a longer period makes sense. They could do a placement instead but I don't think the shareholders would approve

[chavitravi2] 22/10/2018 09:21

I agree, why dilute the share? If these wells come in and the bunker fuel business takes off we will be ok. People like companies with no dept.

[darren81] 22/10/2018 07:44

i wouldn't call them "payday loans" gaffer, due to tax system in Russia they have to pay tax on the oil extracted before they get paid for the exports so not exactly surprising they need a loan to pay for this - otherwise they'd need to have almost as much money sitting in the bank ahead of shipments as the current MCap!!!


Hopefully we see some positive news this week.

[gaffer73] 19/10/2018 19:38

It's about time they bit the bullet and raised a decent cash sum to pay off all their 'payday loans' for a decent structured loan. All this petty lending to ship oil and cover operating costs is just plain amateurish, no wonder UEN is so unloved or undervalued as some would say.

[chavitravi2] 19/10/2018 18:40

Maybe some quick in and out profit takers here today.?