(UEN.L) Urals Energy PLC Buy/Sell

Nothing to do with UEN gambler, it's about general trading principles and not listening to rampers/derampers. Good advice from a most respected poster Bonobo 77. It's well written and he comes across as a really decent fella, as he always has done IMO. Pretty damn good at spotting a bargain too; GKP, SKR, SXX, FTE, JLP and Aricom among others are old rec's of his.

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What does it say . please
Anything positive?

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=]

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brilliant post on the DESire Petroleum board well worth a read ,unable to paste or whatever it is you do but please read it ta

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This mornings Rencap Mornming Monitor:

UEN LN: SELL, target price: GBP0

Event: Yesterday (4 Nov), Urals Energy (UEN) announced the appointment of Alexei Maximov as its CEO, replacing interim CEO Leonid Dyachenko. Dyachenko will remain on the board and continue in his role as executive chairman. Maximov, 50, is one of the founding shareholders of the group that became UEN, and has served as an advisor to Dyachenko. UEN also said yesterday that it is continuing to work on its long-term strategy and intends to operate the remaining assets after the completion of an assets disposal to Sberbank, which is expected in the coming weeks. Importantly, it also announced for the first time that Ashmore's put option will be terminated for a nil consideration on completion of the Sberbank transaction.

Action: Trading in UEN shares was suspended on 30 June 2009, pending the publication of 2008 annual accounts. If these are not published by 31 Dec 2009, the company will be delisted. UEN said yesterday it is examining whether the accounts could be published and trading in its shares on AIM could be resumed ahead of completion of the Sberbank transaction.

Rationale: Our previously stated investment thesis on UEN was based on the view that there will be no material value left for shareholders after the completion of the Sberbank deal, assuming Ashmore's put option is alive (click here to view Urals Energy - Ashmore put option to be terminated dated 14 Jan 2009). However, a termination of the put for nil consideration could prove a very material positive catalyst for UEN, allowing it to retain control of both Arcticneft and Petrosakh, valued at about GBP0.22/share assuming zero remaining debt. Given Maximov's statement yesterday that the company intends to "restructure its other existing obligations", the remaining debt level could be clearly material, although impossible to evaluate now given the lack of accounts. It is therefore only after the release of UEN's 2008 financial results that we could properly adjust our fair value estimate for the company.



Alexander Burgansky
Telephone: +7 495 258 7904

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to learn about our fate and see what happens after all these waiting times...

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Neftanik,

This is very good news when it is confirmed of course.

We have seen many false dawns with this company and most people don't come here anymore.

It was quite a good board at times. Although it did have its moments. I think all those investors who got in very low (my memory fails me how low it went but I think sub 5p) could make a tidy return (potentially).

I only have a few shares in this company and I invested on the basis that Sberbank would not want them to go under.

It is the debt that killed many companies but if UEN survive then I think that is good news. I expect it will fall when relisted unless there are some fantastic announcements due to people just wanting their hands on some money.

I'll hold and wait and see what happens. I may even re-invest if they will still be an oil producer.

I'm much better researched on my investments now.
I have bought into Matra awaiting drilling results and have a tidy (paper) profit from GKP.

But could I ask you for an indulgence please Neftinik regarding Timan Oil & Gas. They too like Urals are suspended and there is no way of contacting the new owners and they have no NOMAD.
Could you find me an email address or telephone number please?

Many thanks

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Currently they are finishing up the transfer agreement to Sberbank for the 2nd of the 2 East Siberian assets. This is about finished as we speak. This will leave them with no debt and 2 remaining assets making collectively about 3000bbls/day. They have hired a new CEO and are working on a forward plan that they want to present prior to the stock's resumption of trading. They want to have something positive to announce at that time in order to keep the stock from plummeting further. They must file their financial statements with AIM before year-end to avoid the stock being delisted, but in fact the financials are in order now but they are waiting until they have their forward plan in place before filing, since the stock will immediately resume trading thereafter.
I heard recently that Rencap has valued Urals at 22 pence once the dust settles. It's a far cry from what most shareholders paid for their stock but better than the alternative. Originally there was talk of them selling the remaining assets and winding up the company but that is at odds with their hiring of the new CEO. I think they will attempt some other deals to try to salvage some additional value, and in any event there isn't much point in selling at 9 pence, so my plan is to wait it out. They just did a sale of 45k tonnes out of Murmansk so they will have some cash.

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Things all looking much better now. Maximov is old school, and can deal with the politics and authorities. This extract may amuse you describing his time at Harvard............

"ON a crisp fall day recently, the 80 students in an accounting class at the Harvard Business School listened intently as Mary Barth, an assistant professor, described how bonds are classified on a company's balance sheet. The students nodded their understanding. Except for one, Alexei Maximov, who frowned and whispered a question in heavily accented English to his neighbor. He was completely lost.

With his faded blue jeans, scruffy loafers and harried, somewhat frantic expression, Mr. Maximov looks like any other first-year student at the school.

What sets Mr. Maximov apart is that he is one of four Soviet students in the class of 1992, the first Soviet group to pursue M.B.A.'s at Harvard and perhaps at any American business school. And aside from having problems with English, Mr. Maximov and his countrymen are struggling, like the Soviet Union itself is, to learn how to talk business in what amounts to a cram course in capitalism.

For Mr. Maximov, at least, the process already seems to be paying off. "Step by step, I feel as though I'm getting somewhere," said the 31-year-old student, who back home is a research associate at the Soviet Institute of Foreign Economic Relations.

The experimental Harvard program comes at a time of great change and confusion in the Soviet Union as the Kremlin gropes for ways to shift to a market economy and to find a new generation of managers to run its enterprises.

At home, students can now pursue M.B.A.'s for the first time at the Russian-American University, an independent school that opened this fall in classrooms at Moscow State University.

The program here is an outgrowth of a joint research project involving Paul R. Lawrence, a professor of organizational behavior at the business school, and the Soviet Institute of Foreign Economic Relations. Professor Lawrence traveled extensively through the Soviet Union to gather material for his book "Behind the Factory Walls."

When officials at the institute suggested that the business school admit Soviet students, Professor Lawrence helped to win backing for the idea. The business school "tends to be on the cutting edge," he said. "When the political situation changed, it became a natural for us." The program is jointly financed by the Soviet Government and Harvard.

THE first class of Soviet students was selected from a pool of approximately 100 applicants. The four men who made the grade passed a comprehensive English exam and then faced a battery of interviews with Harvard alumni; executives of Zyl, a Soviet truck manufacturer that had been studied by Professor Lawrence; staff from the foreign relations institute, and the business school's director of admissions, Laura Fisher.

The Soviet hopefuls also had to complete the business school's exhaustive 10-page application form.

In the Soviet Union, educational applications only request basic information like date and place of birth. By contrast, the Harvard Business School asks applicants to describe which character traits they wish to change or improve and to analyze an "ethical dilemma" they have experienced first-hand.

One of the four successful applicants, Alexei Kolesnikov, a 27-year-old senior analyst at the U.S.S.R. Chamber of Commerce and Industry, spent two months sweating over his papers. His early drafts contained short, factual answers touting his qualifications. After reading the questions and his replies countless times, Mr. Kolesnikov finally decided Harvard wanted to him to think, not just regurgitate facts. His final draft was calculated and intellectual, written as he thought an American would respond.

Besides Mr. Kolesnikov and Mr. Maximov, those accepted were Joseph Bakaleynick, 38, deputy director general of the Vladimir Tractor Works, and Besik Sikharulidze, 25, who

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HOLD from me :-)

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sounds like good news to me! also the put option is now clearly dealt with.... it will be cancelled for no consideration...nadda!

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Neftanick - ''But we will be sure to get a nice Christmas prezzie from Urals Energy. What's on your Christmas list ??''

How do you know this Nef? It will certainly be good if there... Any updates that you have got and heard by any chance mate?

Just a thought as it's been so long since suspension...

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think its in the hands of yourself this one ,be it holding your nerve and bailing out or buying more on info given or just waiting ,it will sort the sheep from the lambs this one

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Ah yes. Good old spp on ADVFN, insisting on copying and pasting yet another set of ficticious numbers and yet another forecast of the future SP based on yet another set of assumptions.

But we will be sure to get a nice Christmas prezzie from Urals Energy. What's on your Christmas list ??

Patience boys

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Dear ol' Yus Yus did mention 'number crunching on ADVFN' (presumably re UEN)I can't even be bothered to look - well, it's not like I can adjust my position accordingly, is it?

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YuYus...I dont come on here too often as it is still depressing me....has there been any update on UEN....any light at the end of the tunnel......will we get anything at all?

On the Ocean Guardian..it is still scheduled to leave Invergordon on the 26th....in the next few days it is only moving from it's current berth...so no need to get too excited yet. I had heard that things may be a little delayed and that spudding on 1st Feb was very unlikely. I am still waiting to hear about a proposal I put forward for essential equipment and do not expect to hear til at least the end of the week..so I would imagine the supply cessel will not sail until well into December.....but lets stick to progress on UEN here

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For me its a close call between "FOLLOW THAT CAMEL " and "CARRYON SCREAMING " ahem I digress lots of number crunching re holdings on advfn so worth a look ,sorry for o/t the OCEAN Guardian will be leaving invergordon next week to travel down the falkland islands for a significant drilling campaign ,don,t get left behind !!

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?? This place has frozen

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?

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Yeah Neft, I haven't seen you there for a while.
Let us know if you have any news. It is killing me slowly now...

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