Has anyone please got any info on this one? It was supposed to start trading again in July and then August - almost end of August and nothing!

cellby, i think the current increase and valuations are based on actual oil flow - current and future. I don't think there is now anything in the price for the "stolen" assets (i.e. the court case) - and quite rightly so.

If SBE were ever to get a favourable settlement and recover some/all of the assets, the SP would probably double from where it is now. I also think institutional investors are well aware of this situatoin and are not spooked. However, PI's are not so aware or perhaps live on hope and therefore the MM's can manipulate the SP on any bad news about the court case.

I've held for a long time (pre-suspension) and will continue to hold.

all IMHO.

WDIK, PDYOR.

camlad

any one got a shortterm target on these ,im thinking 446p there may be some profit taking tomorrow from holders who got in sub 200p . 9% is a big jump for one day would i get back in at my 370 if i sold now and took the 600pound thats on the table ,lots of small profits or wait see if the big one comes.

dont bank on big from Sibneft.
Have colleagues in Saylm and they say Sibir have no chance of recovering the stolen Asset though their case is as strong as it can be.
Best for a Big one is Shell takeover, With Corperation Tax in North Sea increased by 10% , Shell will be looking to Sell Off and Buy Barrels elsewhere, and Saylm is the best project in te portfolio.
Saylm has lots of near field potential and also is rumoured to have another 1 Bbl uproven reserves in a reservior below the existing producing fields.

there we are still in profit of 600 nearly all gone,cristal ball needed.

cellby, pullback to day was almost inevitable as short term profit takers made their money. I don't think this affects the medium term at all. don't forget there is still a buyer committed to a new placement at 4 in March 2006 - so the future is looking as good as ever.

all IMHO.

WDIK, PDYOR.

camlad

Sibir Energy Sells Magma
Sibir Energy and Moscow Oil and Gas Company (holds 31 percent in Sibir Energy) announced a tender for Magma, an oil producing subsidiary of Sibir Energy, which is to be included in the authorized capital of Moscow Oil and Gas Company. Shalva Chigirinsky, co-owner of Sibir Energy, reported to Kommersant that the board of Moscow Oil and Gas Company had endorsed the deal back in November.
Magma Oil Company operates at the Southern Deposit in the Nizhny Vartovsk district of Khanty-Mansi Autonomous Area. The oil fields residual reserves are estimated at 11.7 million metric tons of oil. Oil production grew 37.5 in 2005 compared to the previous year to come to 330,000 metric tons.

Sovlink, the financial consultant of Sibir Energy and Moscow Oil and Gas Company on the sale of Magma, sent letters to possible buyers of the company offering them 98 percent in Magma. Applications from buyers are accepted until late January when Sovlink will announce a shortlist of the companies to contend for Magma.

Shalva Chigirinsky, the co-owner of Sibir Energy, said that the board of directors of Moscow Oil and Gas Company had made the decision to sell Magma in November. Magma is currently in the process of the introduction to the authorized capital of Moscow Oil and Gas Company. Mr. Chigirinsky declined to name the companies willing to compete for the asset. Market watchers mention North Western Oil Group and TNK-BP as would-be buyers.

Shalva Chigirinsky earlier estimated Magma at over $200 million. Considering previous tenders for oil exploration and production licenses, Magma may be sold at between $300 and $350 million, according to experts.

Salym Petroleum Development produced 100,000th tonne of oil from West Salym Field
22-Dec-2005
Salym Petroleum Development NV (SPD) has achieved an important landmark in the development of West Salym, which is the largest of the three Salym fields developed by SPD.

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Salym Petroleum Development NV (SPD) has achieved an important landmark in the development of West Salym, which is the largest of the three Salym fields developed by SPD. On December 20, 2005 the 100,000th tonne of oil was produced from this field whereby SPD has achieved a production level stipulated in the West Salym licence as one of the major SPD commitments for 2005.

The first tonnes of oil were produced from West Salym field just one year ago in mid-December 2004. At the end of November 2005 the key field infrastructure facilities the Central Processing Facility, in-field supply lines, and an oil export pipeline were commissioned for operation. This paved the way for ramping up production and allowed SPD to meet its oil production commitments in the West Salym Licence Area.

For SPD, bringing on stream West Salym and production of more than 100,000 tonne of oil from this field represent the most significant events of 2005, commented SPD CEO Dale Rollins. - We finish this memorable year in good spirit because we have kept our promise to the SPD Shareholders and delivered on our commitments to the Russian Authorities with excellent performance in health, safety, environment protection and social performance including our responsibility to the community. The accomplishments of SPD and its contractors in the realization of Salym Project in 2005 make a solid base and an encouragement for successful tackling of 2006 challenges. The main challenge will be ensuring the total oil production from all three Salym fields next year in excess of 2 million tonnes (around 15 million bbl).

all the other oil producers are moVing up should be sbe turn for a brakeout 440-450 must be our short term leVel. this is on my list as a good play for o6 with such big oil number how can it stay down.

bid speculation in the industry is rife.

SBE will do well to hold off an approach this year

chart (25,50ma and bolly bands) looking just like last August when it put on 100p in about 10days.

with the placing at 400p this is a massive vote of confidence in the future potential, imho could see a 5bagger by 2009...

WHY is it dropping like a stone last 2 days,any views.

MB, can't see that SBE in particular is being singled out; seems to me that a lot of oilies getting hit. SBE is only marginally down from last Friday's close so this week hasn't been as bad as you seem to think.

WDIK, PDYOR.

camlad

Bennfld. sub. for shares is huge,amounts to 620 milliondollars about,apart from a p/up,what will they next acquire,any views.

Good question, mbugger.

According to the press release from 09 Dec 2005:

The introduction of Orton Oil and associated fundraising will be important elements in the Company achieving the following objectives over the next two to four years:
*Creating a major vertically integrated oil company with reserves of 700 million to one billion metric tons
*Attaining levels of oil production between 10 and 12 million tons annually from existing oil fields and through expected acquisitions
*Upgrading the Moscow Refinery with an aim of increasing refining capacity to between 12 and 14 million tons and attain 70%-75% light-ends
*Increasing the number of gas stations operated by the various entities controlled by the Company to approximately 150 in number and attaining Western levels of service at all sites.

I'd expect SBE to go after acquiring more unexplored acreage/licences in the hopes of finding another Salym (i.e. "through expected acquisitions").

BTW good news seems to be developing re Sibneft-Yugra now that Gazprom is involved (see RNS 02Mar2006). Hopefully Gazprom will deal with all Sibneft's nonsense and restore SBE's stake in Yugra . . .

Definitely worth holding on to!!

Up 10p this afternoon - good thing after the heart-stopping nosedive of the last few days!

MMs used to drop bid apparently recklessly to precipitate p.i.s to sell their sharesand then mop them up,also drop bid to faciltate large buyer at agreed low fav.price,but SBE is supposed to trade now under SETS ,but drop for the last week was frightening,and may be due to a trick under SETS,we havnt heard of yet,but rise today is a relief.

Trade today was between 452low to494high,volume rel low 1 mn.,amassive 42 p.swing,not due to any large volatile trading,but probably to do with bennfd. or oil valuations or russian movesbehind the scenes,any views.

I second that, MB.

Frankly I am amazed at how the purchase or sale of just a few shares seem to move the SP by such a wide margin. Unexpected for a co that's now worth a billion pounds. I would certainly welcome any light being shed.

Salym Petroleum Development to increase drilling scope at Salym oilfields
10-Mar-2006
By the end of 2006, a 5th drilling rig will be mobilized for drilling operations at the Salym group of oilfields developed by Salym Petroleum Development NV (SPD).

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On 3 March 2006, SPD signed a contract with one of its major drilling contractors - KCA Deutag - for a Russian-made mobile 200 tonne capacity drilling rig. The new unit will be manufactured during 2006 and put into operation in December 2006. It is to be used for drilling exploration and highly deviated wells, and also for drilling wells into possible high-pressure formations.

Mobilization of the new mobile drilling unit will allow to reduce the unit move time and increase the drilling scope at the Salym fields, commented SPD CEO Dale Rollins. Currently, four Russian-made drilling rigs of two types are in operation at the Salym fields, and they display excellent performance. Since the spring of 2004 till recently about 80 wells have been drilled with Russian-made drilling units at the Upper Salym and West Salym fields. This coming summer drilling operations will start at the Vadelyp fields with the aim to produce first oil by end 2006. SPD is planning to drill over 300 development wells at the Salym group of oilfields during the next three years.

LB - good post!

The SP's a bit choppy of late - anyone got any info?