Urals Energy Share Discussion Threads

[calmtrader] 19/12/2018 13:11

Hi TopicelI organised the last meeting and have since sold out around the 85p level ..I lost patience with the lack of a successful drill..as for the latest "fight" I guess the current board are on there way out but this doesn't give Urals any creditability and they will now always trade at a big discount to their true worth because of it IMHO

[topicel] 19/12/2018 12:27

Forgive me for forgetting, but who were the fellow posters who arranged a couple of 'goodwill' meetings with UEN execs last year, or even earlier this one?

Was it all the whitewash many believed? Tell 'em what they want to hear?

Just curious as presumably some are still posting/holding?

Topicel

[amargosa] 19/12/2018 08:56

Chav, I'll have a stab at that.

No, is the short answer, it doesn't matter who we support, this is going to happen. I don't think anyone is happy about what is going on - the share price alone tells you that.

I was never very happy about having a single shareholder with over 44%; every exchange on the planet considers 30% to be 'in control' of a company. However, to then appoint that 44% holder to a key post in the company (giving him total financial control as well as operational) beggars belief. The Board knew all along who Kononov was yet were happy to peddle this Shevets myth to cover up what was happening to the Company. Now that Kononov has stopped taking direction from the Board is no great surprise - who do you believe about what is going on with the loans etc? Well, I suppose you have to just sift through the waffle and grandstanding to see if you can determine the facts. Then make a judgement about who will achieve more for the Company. But it's a virtual exercise.

[chavitravi2] 18/12/2018 16:26

I don't know about you guys but I wouldn't know who to support here. Kornonov certainly has done some dodgy dealing here with loans unsecured and buying a ship we don't need leaving the cupboard bare and not discussing any of it with the board.
Will he take the Co from under us for nowt the same has Barsky tried? Can we stop him if he already has near 45% holding?

[gregpeck7] 18/12/2018 16:08

Total and utter basket case this has become. Sad.

[djmoggy] 18/12/2018 15:27

The 30k trade was a delayed sell from 8.11am which resulted in the immediate 2.5p drop - note the bid price at the time of the actual trade was 25p. It was reported as a buy as the trade was delayed by 1 hour. Looks like someone had enough after the latest RNS and ditched the 30k

[knowing] 18/12/2018 15:25

WOW What a mess

[martyn9] 18/12/2018 15:22

Yeah never makes sense to me stylo, mm's playing silly sods, maybe not showing earlier sells?can delay up to 3 days I believe. Crazy as never portrays a true picture!!

[stylo] 18/12/2018 14:49

All buys and down nearly 10%???

[downsize] 17/12/2018 17:55

You couldn't make this shut up!

[djmoggy] 17/12/2018 16:39

There is a draft of the offical press release by Sergey Kononov available on the Cached Google Translated Petrosakh.ru website.

This reads much more from the heart and (to me) shows that Kononov seems genuinely surprised (and somewhat annoyed) by the events since October 10th.

Interesting snippet - "I am resenting the fact that the board has been rushed to judge. I can’t be suspended by the Board. .... so that infers that the current BOD cannot force Kononov to resign!


Petrosakh press release





14 December 2018



Urals Energy Public Company Limited:

Dear UEPCL shareholders,

I, on behalf of the Petrosakh Council of Petrosakh and its management, made a statement on the number of misleading accusations made on the 10th October 2018 .

First of all, I’ve replaced Urals Energy LLC (UEPCL RNS # 1319D of 24 April 2017) The operations were streamlined.

I, as the General Director of Urals Energy LLC, became the President of the Petrosakh Petrozakhstan JSC.

The petrosakh oil refinery has been one of the local oil refineries in the early 1990s. Historically, Petrosakh JSC has also been able to ensure that it can be overhauled for further possible use.

Previously, JSC Petrosakh would produce a steady revenue stream. However, the Petrosakh JSC has been able to follow up on the board of the UEPCL, the Petrosakh region has been under pressure. Since 2017, I have been spending time on my efforts to cleanse the Petrozakhinskaya oil field from the past of the lawyers and the staff members. It is a long-term strategy for the Petrozakh branch of the oil pipeline that has been approved. on the island, as well as mainland.

It has been the time when I have signed a meeting with the local authorities and the government of Petrosakh. As a result, he received a deposit of funds for his long-term strategy. Unfortunately, they have not chosen to “strategize221;.

It also structured a route to the mainland Russia ("Port"). Initially, it is important to ensure that there is a cash flow to the Petrosakh JSC (UEPCL RNS 8504W of 6 August, 2018), startling resistance from the Board of UEPCL.

It was a clear case that the bankruptcy law was aroused. to normal operations. JSC Petrosakh has been supported by the shareholder of the Port. Finally, we’ve considered our investment in the Port. The individual directors of the individual directors were informed prior to 10 October 2018.

I would like to address this issue. I have been granted that the rules of the Petrosakh International Petroleum Organization are approved. All loans have been carefully documented. Also, the board of the UEPCL was not secret.

I am resenting the fact that the board has been rushed to judge. I can’t be suspended by the Board.

Finally, I believe that Petrosakh has been negatively dramatized for reasons unknown to me. I firmly believe that if you’re well managed, it’s possible to maximize the shareholder value for UEPCL.

The Board makes lots of promises. I ask you to judge our actions.

Sergey Kononov

President of JSC Petrosakh

[darren81] 17/12/2018 15:09

The sooner the EGM the better, the wording of the last/recent RNSs is quite frankly astonishing, it’s almost like an adolescent squabble. It’s clear the current BODs no longer have any regard for the maintaining value of the company.

After reading djmoggys link, I think we’re be better off taking our chances with the new board...we literally couldn’t be any worse off!!!!

[gaffer73] 17/12/2018 14:59

Could be a fixer upper. Bit of paint and a polish then sell on for a profit???

[amargosa] 17/12/2018 14:46

More intersing stuff to mull over!

I guess Kononov didn't need to issue a statement to shareholders, so I'll take that as a positive for now. It's also more upbeat than what is coming out of the Board, whose latest RNS I find somewhat confused and desperate. Why haven't they called the EGM yet?

The ship - well I suppose there could be a logical explanation - an accommodation block for PSK perhaps? Seems cheap enough, but without the details.....who knows.

I wonder how much more mud slinging there will be in the run up to the EGM - surely if the EGM is called legally, the current BoDs won't attend or stick around to be booted out?

[jiggsyboy] 17/12/2018 13:16

Never a dull moment on HMS Urals...

[neftanik] 17/12/2018 12:51

Absolutely unbelievable

[ripvanwinkle3] 17/12/2018 12:46

Ahoy there shareholders! Look at our new boat!