Urals Energy Share Discussion Threads

[johnwalton] 01/11/2018 17:13

Gamblers would be put off with that RNS.
Iooks like fake invoices and trouser filling.
Bad news is usually in 3s

[chavitravi2] 01/11/2018 17:12

That did happen but can't remember who it was that allowed it.

[amargosa] 01/11/2018 17:09

Didn't this CEO make an unauthorized loan to Rovneiko and then let him off it even after a court had ruled in the company's favour? There's a word for that.

[chavitravi2] 01/11/2018 17:09

Yep, people for a long time now will be reluctant to invest so share price is going to be stagnant till things really take off and some resebalance of trust earned.

[chavitravi2] 01/11/2018 17:05

I wouldn't be surprised if they didn't have to put a lot of things like that on hold.
In regard to the money gone to the port restructuring. I reckon the plan was to pay our share of that in reasonable tranches has required, not in one go. It would make good sense to do that. Kornonov should have known that and ought to be shot for doing it. It's obvious they strongly suspect fraud here but it's clearly their poor governance that's allowed it.

[martyn9] 01/11/2018 17:00

Chav, also will very much restrict any new investment with this hanging like a dark cloud over it,no matter what SD drill result brings.trust is shattered IMO.

[takeachance1] 01/11/2018 16:45

Still no mention if how things at south dagi (well 7) are developing.

[chavitravi2] 01/11/2018 16:35

Has you say amargosa, we live to fight another day.
The last bit to me was telling. "Our bank remains supportive".
I do think this is going to get sorted but it will cost us in more ways than share price collapsing to this level. It's going to limit our going forward with new wells until we can get a reasonable working capital.

For me it's all the more reason to get a good affordable structured loan to let us press on and get much more profits in the bank much quicker.

[gregpeck7] 01/11/2018 16:28

Looks like one thing is reasonably certain.. This is not going to be resolved quickly and its very much a sticky web they are working through... Read that RNS and still none the wiser really what on earth is going on! So many unknowns...

[geoffmanana] 01/11/2018 16:09

As I've posted before....what were the auditors doing while all this was going on?

[amargosa] 01/11/2018 15:59

Still, we live to fight another day..

[darren81] 01/11/2018 10:43

I agree with that point amargosa - if export duty is calculated as an average of 20 days prior to shipment then it would make sense to use a similar timeframe with the POO we receive.

I guess we cant do this for previous 20 days as its possible to hold shipment to inflate the price if it dipped massively 20 days prior to shipment (doubt Petraco would agree to this) but taking average 20 days after would help mitigate risk a bit.

[amargosa] 01/11/2018 10:18

Assuming UEN survives, they really need to find a better system for the tanker payments than gambling on the oil price in the 5 days after loading. Looks like they were unlucky again.

[darren81] 31/10/2018 11:51

if you don't have hope in your life gaffer its a pretty sad state of affairs.

[martyn9] 31/10/2018 11:30

Yes gaffer true, but i can hardly use the word "trust" with this company.

[gaffer73] 31/10/2018 11:23

There's a lot of 'hope' floating around this morning.

[martyn9] 31/10/2018 11:19

Let's hope in the interim the bod have made arrangements with the creditors short term until they can find a permanent answer to the $3m hole.

[amargosa] 30/10/2018 20:51

Kononov can't be sacked, he runs the entire shebang in Russia and he's the 45% shareholder meaning what he says goes. We have to hope he's on board in keeping the AIM listing, for the time being at least. The Board is on borrowed time imv, their last-ditch desperate attempt to save their jobs won't succeed in the medium term.

[neftanik] 30/10/2018 18:22

I guess a couple of days. If my memory serves me correctly I think it's only a 4 or 6 inch hose

[darren81] 30/10/2018 15:05

thanks Neft - how long would it take to load ~150k barrels (once weather permits)?