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!

RNS out today:

>> Sibir Energy in placing of up to 20 mln shs through bookbuilding at 392p/shr
LONDON (AFX) - Sibir Energy PLC said it is launching a bookbuilt cash placing
of up to 20 mln new ordinary shares to shareholders at 392 pence each, as
approved at the company's EGM on Jan 27.

Demand for the placing will be determined through a bookbuilding process and it
is expected that the books will close no later than 4.30 pm today. <<


SP likely to drop later this week as the institutions lock in some instant profits ?? There is no lock-in period; placing shares will be admitted for trading on 23rd March.

Up 7p yesterday, up 4p this morning and with a very tight spread at 468/469.75. Is this the end of the recent slide?

Good news all the way for those still holding: today we're firmly back over 5. Bid: 510.5p Offer: 514.75p Change: 16.5

RNS last week announced latest improved production levels. Alas I baled out of my holding about a fortnight ago to pursue other opportunities and have forfeited about 40p a share. My Dad's still in, though, so he'll be pleased . . . .

More progress - RNS out today:

>> Sibir Energy PLC - Salym Power Plant Approval
RNS Number:4912BSibir Energy PLC13 April 200613 April 2006 SIBIR ENERGY plc Gas Turbine Power Plant Approved for Salym FieldsSalym Petroleum Development, NV, Sibir's 50:50 joint venture between itssubsidiary OAO NK Evikon and Shell dedicated to the development of the Salymfields in western Siberia, announced today that the shareholder SupervisoryBoard has allocated $54.9 million for the construction of a Gas Turbine PowerPlant at the Salym fields. Preparatory works on the project this year areexpected to cost $20.4 million and will bring the Salym project budget for 2006to $410 million.The 43.5 MW Gas Turbine Power Plant, to be constructed at West Salym, willensure stable supply of electric power for the Salym Project field facilitiesand will use associated gas from the fields. The facility is expected tocommence operation end 2007 - early 2008.Commenting on the SPD announcement, Sibir CEO, Henry Cameron, said, 'Theconstruction of the Gas Turbine Power Plant will help ensure uninterruptedgrowth in production at the Salym fields by providing a reliable andcost-effective electricity supply to the fields. This project also allows SPD todiscontinue flaring which will improve the environmental performance of theproject in accordance with international best practice.' <<

It gets better.

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Sibir Energy PLC - Production Update
RNS Number:9199BSibir Energy PLC25 April 200625 April 2006 Sibir Energy plc ('Sibir') Production UpdateSibir announces today that its total crude oil production rate for the weekbeginning April 24, 2006 averaged in excess of 25,000 barrels per day (bpd), amaterially new high for the company.Over 18,000 bpd of production is now represented by Sibir's 50% share of outputat the Salym group of fields, operated by Salym Petroleum Development, NV('SPD') - Sibir's joint venture with Shell in western Siberia - which is nowproducing in excess of 36,000 bpd.The balance of Sibir's daily production for the week of over 7,000 barrels perday was provided by OAO Magma, a production subsidiary 95% owned by Sibir whereproduction is expected to remain stable at current levels.Commenting on the achievement of this production milestone, Sibir CEO, HenryCameron, said, 'Today's announcement shows a 3,000 barrel a day productionincrease for Sibir in less than a month, demonstrating that production growth atthe Salym group of fields is proceeding smoothly towards its planned year-endtarget of 60,000 bpd (30,000 bpd Sibir share).'

Sibir Energy PLC - Sibneft Yugra Update
RNS Number:0010D Sibir Energy PLC 16 May 2006
16 May 2006 Sibir Energy plc ('Sibir')
BVI Appeal in Sibneft Yugra Case

Sibir has been advised by its English lawyers that upon completion of hearings in the BVI to secure jurisdiction against Sibneft and others in the SibneftYugra affair it became apparent that Sibir had lost its appeal. Neither Sibir nor its lawyers are aware of any formal judgment having been issued but Sibir has noted that Sibneft has announced a victory in this respect on their website. Sibir therefore makes this announcement to ensure an orderly market for all shareholders.Commenting on this announcement Sibir CEO Henry Cameron said 'Without establishing jurisdiction in the BVI our proceedings there can go no further. Sibir has from the moment it discovered the dilution openly recognised that finding a resolution to the dilution would be a long and arduous task but right is on our side and we will diligently and exhaustively pursue the other alternatives open to us until we get an acceptable result.'

Interesting RNS, above. I didn't think that SBE's SP had priced in the likelihood of a return of the Sibneft-Yugra stake.

However, in the current market conditions it's bear-runs all the way.

Given recent production updates, etc., I'm beginning to wonder if SBE is once again looking a little cheap.

WDIK, PDYOR etc.

Down 25% over seven trading days with today's fall just about the biggest. I would be interested to see when and where this stops skidding, as the word "bargain" is beginning to cross my mind, although "dirt cheap" is still hanging back and biding its time.

SBE Bid: 421p Offer: 422p Change: -55

.

iam still holding this company for 6000 worth of shares !! do i stay abit longer with this company?

Morning to anyone interested in SBE. Cracking set of results today and it looks like there could be resolution to the Sibneft dispute. I left this one in February but time to now re-examine I believe.

Any views?

This Russian oily is plunging like a brick.

No support at 400p. Expect SBE to reach 250p as oil price and demand are low

238p currently. Looks like it would go below 200p as oil price going down towards $65 soon

Unbelievable now less than 40p.

Corruption of the first degree...shareholders are suffering just to cover Chigirinsky's losses.



Sibir market value halves on real estate buy
AFX


By Dmitry Zhdannikov and Gleb Bryanski

MOSCOW, Dec 3 (Reuters) - The market value of London-listed Sibir Energy halved on Wednesday after the Russian oil firm said it would buy more distressed real estate assets from its key owner for $340 million in cash and debt.

Sibir had already outraged minority shareholders when it said in October it would buy some $157 million worth of real estate from its key owner, Russian businessman Shalva Chigirinsky, in a clear departure from its core oil business.

The new deal foresees the purchase of various real estate assets including Russia Tower, a 6OO-metre (1,970 foot) steel-and-glass symbol of new Russian wealth designed by Norman Foster to be Europe's tallest building, which was halted last month due to a lack of funding.

'This is a corporate scandal of the first class,' said Carl Merling, CEO of Swedish hedge fund Emeralt Investments, which has a big exposure to Russia but holds no Sibir shares.

'It is difficult in such a situation not to be negative towards Russian small caps with majority owners like Chigirinsky. When such things happen there is no mechanism for minority shareholders to protect their rights,' he said.

Sibir asked the shareholders to approve the purchase of additional real estate assets from Chigirinsky, spelt Tchigirinski by the company, at a general meeting on Dec. 18.

'Difficult times call for uncomfortable decisions to be made,' Sibir Chief Executive Henry Cameron said in a statement.

'Doing business in Russia has never been for the faint-hearted and sometimes requires difficult calls in the boardroom,' he added.

The company said the global financial crisis and consequential drop in share values have had 'a domino effect' on Chigirinsky's financial position.

Chigirinsky and his partner Igor Kesayev control 47 percent of Sibir and the government of Moscow owns another 18 percent.

The company produces oil in West Siberia and has a refinery and a petrol station network in Moscow.

Most of the projects that Sibir will acquire from Chigirinsky have been put on ice like many other real estate developments in Russia. Heavily indebted developers have been among the worst hit by the global liquidity squeeze.

The company said it will nevertheless have to spend $128 million on limited development and studies of some of the projects, including New Holland and Passage in St Petersburg, thus taking the sum of Sibir's support to $625 million.

Sibir had a net profit of $238.5 million in the first half of 2008.

Sibir has earlier denied reports that Chigirinsky and Kesayev could lose their stakes in the company after local media reported the businessmen were facing margin calls after putting their stakes in Sibir as collateral against bank loans.

'As the preservation of the company's shareholder structure was paramount, the board of Sibir has concluded that the company must take over the bulk of Mr Tchigirinski's remaining real estate business,' the company said on Wednesday.

Sibir said in a separate statement its finance director and member of the board, Alexander Betsky, resigned on Tuesday.

At 1050 GMT, Sibir was trading at 45.025 pence, down 55 percent on the day.

that is absolutely outrageous, but probably technically allowed under the company's mem and arts ..... that being so, there is bugger all anyone can do .... interestingly, sp is up a bit this morning, but surely not for long

am also amazed to see that the spread is just 0.25p

Well you got your rebound cynic.

SBE won't last long...investors are keeping away from such crooks.