Urals Energy Share Discussion Threads

[gregpeck7] 21/11/2018 13:57

I remember suggesting they should hedge but was told they do not...

[darren81] 21/11/2018 11:06

given half our yearly production is dependent on the price of these shipments it is definitely not prudent to take the "Some you win some you lose" approach!!!

[chavitravi2] 21/11/2018 10:28

If you buy something you usually agree a price at the point of purchase not afterwards. Any old price could be asked for afterwards. The day of loading seems right to me.
As it stands it's swings and round abouts, in that 6-10 days price could go up as well as down. Some you win some you lose.
I would think in regard to tax paid, if we have paid to much for one shipment or more at the end of the tax year it's sorted and the appropriate refund or credit is given. That I think is normal for business or individual.

[amargosa] 21/11/2018 09:30

Maybe they could ask the accountants to come up with a way of derisking the tanker shipment - $3m blown on the last shipment alone, and further losses on the previous shipment. If only we had someone in the company working full time keeping an eye on the finances and maybe also someone thinking about strategy and profit maximization.

[chavitravi2] 20/11/2018 17:48

I just wonder how many were relying on their nice little divi pay out for Christmas?

[darren81] 20/11/2018 16:41

let's hope that tomorrow, 6 weeks to the day after we were first informed of the unauthorised loans, that the BODs finally publish the audit report and let us know if we will be getting our money back from Kononov - its taken far too long for them to provide this info imv!!!

[martyn9] 16/11/2018 11:42

It might be the case of employing the services of a forensic accountants as i believe we have in the uk.

[martyn9] 16/11/2018 11:28

Darren, yes they are taking their time with the audit but i'm not surprised as where does the paper trail of possibly more unauthorised loans lead?? konartist has played it clever and will take time to uncover,imo.

[darren81] 16/11/2018 09:52

a balanced and well reasoned argument there gaffer :-)

chav - brexit is the biggest act of self-sabotage any European (probably global) country has done in decades, there is no way the UK can come out of this better off than if they were in the EU.

The EU has ensured peace and prosperity on a continent that has been ravaged by war for centuries, it is a cornerstone for peace in the north of Ireland and was sold to the people of Scotland only a few short years ago as the reason for staying in the UK.

Unfortunately for the young generation of today in the UK, their future has been put in jeopardy by an inept government who have failed to tell the people of the UK the benefits EU migrants bring to their country.

Its easy for the Tories/rightwing media to blame immigrants for "taking our jobs" , "claiming benefits", "abusing the NHS" etc - most migrants who come here are young men/women who have had their education paid for by other countries (think about how much money countries like Spain/Portugal/India etc spend training up doctors and nurses only for them to leave and come to the UK), do not use the health service, given they are young, and in a large proportion of cases go home when they get older (most people prefer to live where they born - shock/horror) so the UK don't need to pay for their end of life care - they are basically getting taxes for nothing from these people.

The government should be using these taxes to build new houses/ roads/fund the NHS but they don't, they provide tax cuts instead - rather than admit this they use a few obscure cases of people abusing the system to detract from the fact they are underfunding every single department of government.

It really is unbelievable how otherwise intelligent people can be easily manipulated by a concocted "enemy" - if you say they same thing over and over again enough times people start believing.


Another point to consider is that fertility rates for women in the UK has dropped significantly over the last 50 years, in the mid 60's women were having on average 3 children each, now it is 1.7!!! In the long term (i.e. when most of the older generation who actually voted for Brexit die off) this will mean that without immigration the population will eventually start decreasing. resulting in the current younger generation having to work much much longer than the people who actually voted for Brexit - is that really what you want for your children/grandchildren??


Back to the main topic of the board now - I had really expected an update on the audit this week...

its been 3.5 weeks since they said they were bringing auditors in, this isn't a large company with 10,000's of transactions a day! how long do they need to check on transactions made in the last few months??

[chavitravi2] 16/11/2018 09:37

Darren, exactly. "Their main concern is keeping EU intact". By going overboard I pointed out they could be doing the opposite by making us walk away and endangering the collapse of the union. The Mediterranean countries hate the EU and Euro for what they have done to them and would likely use the upset to get reform and a better deal. Unlike us they would play the same game of hard ball not soft ball.
They can't afford to make up financial difference they are already being bled to maximum and can't afford losing us, their main market and see their GDP go further down and unemployment further up. We need to call their bluff and walk. Whatever difficulty we have theirs is 4 fold since they send us 4x as much over here.
Sorry for being off subject of UEN. Not much to discuss here.

[martyn9] 15/11/2018 16:14

The inmates are running the asylum in this basket case of a country i'm afraid.

[darren81] 15/11/2018 16:02

how pray tell is that a problem for us?

the pound has tanked, given the company operates in USD, a weaker pound should mean a higher GBP valuation for us.

I think you are deluded if you actually believe "They will beg for a deal" - the EU's main concern is keeping the union intact - they have to make it be seen that UK has a much worse deal by leaving otherwise others will want to leav too - I really don't understand how any sensible person can think otherwise.

[chavitravi2] 15/11/2018 15:44

Another problem for us, the PM has sold us out by all account, as expected.
More waiting and upheaval till they sort out another PM to sort it properly.
Just walk away and take everything off the table same as they should have done 6 months ago. They will beg for a deal in weeks when the EU is on near collapse.
PIGS I reckon are itching to come together and collectively tell EU they are leaving EU and Euro. It's their only chance of prospering. They aint going to pay up, they can't, EU already bleeding them dry. Germany will cack themselves having to pick up the whole bill. No deal will be difficult for short while but that difficulty is magnified for the EU and our gov should have seen that.

[defender3] 15/11/2018 08:09

uen own 23%
an employee of JSC Petrosakh.
used urals money to by 19%

[gaffer73] 15/11/2018 07:57

Defender, UEN only own 23% of the port.

[amargosa] 15/11/2018 07:44

It's also worth considering the likelihood that Ilya Glebov is to Sergey Kononov what Roman Shvets is to, er, Sergey Kononov. If this holds water then Kononov unloaded his Komi assets onto Urals for a decent wack. Mind you, do you blame the guy after being conned (pardon the pun) into buying half of Urals for 12p a share (now 1.25p OM).

[defender3] 15/11/2018 07:42

im trying to show other investors that this is not a shell company made up over night and that the company owns more than just the port . its always good to read about what you are invested in .(but you make your own decision what you read )

[neftanik] 15/11/2018 00:12

So apart from showing you can cut and paste what is you point then?

[defender3] 14/11/2018 21:05

THIS IS WHAT THE HIGHLIGHTS OF THE 28TH SEP R,N,S SAID
Mr Andrew Shrager, Chairman, commented: "The results for the first half of 2018 have been affected by a combination of lower production volumes as we see the continued natural decline of our production at Petrosak, increased production taxes, and having to hold large stocks valued just at cost, as our first tanker was not loaded until after the period end. Nevertheless, EBITDA was positive at over US$1 million, and even after some US$5 million of capital expenditure, our term debt position remains comfortable."

"The most important events of the period were the successful work over of well No 7 and the potential discovery well No 1 at South Dagi, which should progressively help to offset the decline at Petrosak. The acquisition of a shareholding in the most important port on Sakhalin Island is part of the strategy. The objective for this investment is to secure the future of our refinery at Petrosak, improving throughput and margins, which we expect to see over the coming months."

"We have initiated a plan that could allow us to acquire our own fracking fleet for Articneft and continue to investigate partnerships to develop our Komi reserves and resources."

"We remain confident that we can build a long term future for the Company, but believe that shareholders should share in our results, and so are pleased to confirm the intention to propose at the AGM in November that a dividend should be paid for the period to 31 December 2017 that is equivalent to last year's dividend."

[defender3] 14/11/2018 20:50

who is Shvets
who is alder
Loan was authorised by Mr S Kononov, a representative of his family's interest in 44 per cent of the Company's ordinary share
im reading through all the R,N,S but am slightly lost
I keep pointing out that we own 23% + 19% of the port
we have 5 of the 7 board members
it obviously suited to acquire the extra shares in the port
we have not lost money
urals has acquired all these companies in the last 13 years

Arctic Oil Company
May 9, 2016
—

Arctic Oil Company acquired by Ural Energy Management Company

BVN Oil Ltd
Nov 19, 2015
—

BVN Oil Ltd acquired by Ural Energy Management Company

RK-Oil
Nov 19, 2015
—

RK-Oil acquired by Ural Energy Management Company

OOO Verhneomrinskaya Neft
Oct 5, 2006
—

OOO Verhneomrinskaya Neft acquired by Ural Energy Management Company

Lenskaya Transportnaya Kompaniya
Jun 12, 2006
—

Lenskaya Transportnaya Kompaniya acquired by Ural Energy Management Company

ZAO Arcticneft
Jul 26, 2005
—

ZAO Arcticneft acquired by Ural Energy Management Company

Petrosakh Private Joint-Stock Company
we own all of these , we just need a bit more clarity

[amargosa] 14/11/2018 19:18

Strange isn't it that the Board doesn't just ask Shvets (who owns Adler according to the Board) to sort out Kononov. No mention of him in any of the recent significant RNSs.

The reality is the Shvets (if he even exists) is a front for Kononov; it was perhaps a way of disguising the stupidity of appointing the major shareholder as President of the Russian trading company, which controls all the financial and operational activities of the whole entity.

I think its pretty evident now that Kononov is Adler; so the Board has been misleading shareholders about what influence Kononov has within the Company. They have lost control of the company in favour of the single largest shareholder and have now crashed the share price to try and regain some of the control they gave away. They need to address this issue with shareholders.