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!

Sorry all but I am so hung over.. saw these gallop up yesterday & again steaming away today. Now in my fragile state could someone briefly explain where these are heading. Have I missed the boat.. I know I should do some research but by the time I have done so these will have plateau'd. Whats the guide price? I am after a short term stock.

Thanks

Chris

Check their website out.

www.sibirenergy.com

some people have suggested 260p to 360p. Only time will tell.

wilbs

Thanks Wilbs.

No probs chrispine. Also you may like to look back on this thread and also on Ample/iii bb. If your not registered with em, let me know and I will paste some stuff for you later.

wilbs

That would be brilliant if you could paste Wilbs as I am not registered. I know its a lazy way to trade & not an advisable one but I am most grateful to you for your trouble.

Chris

No probs. Im now popping out for an hour to get my last xmas shopping done so will past some stuff later.

wilbs

Is SBE getting any easier to buy for anyone else out there. It took be 15 mins this morning to get a buy 10000 @ 235p in for the ride. (228 when i picked the phone up) Fingers crossed

Here you go chrispine, hope its some help. Sorry if its been posted on here before.

All from ADVFN

....so says the headline in the Sunday Telegraph. The news is that that Moscow tycoon Chalva Tchigirinsky is back in town to re-list Sibir on Tuesday as a "stronger better and more efficient company than before". He is a non-executive director whose stake in Sibir is set to rise to 52 per cent.
The article highlights the problems with Sibir's diluted stake in the Siberian oilfield Yugra. Tchigirinsky alleges that the deals that allowed Sibneft (the oil company belonging to Roman Abramavich) to seize control were unfair. He says "I thought Russia was through that period of its history" and adds "I expect 90 per cent of our shareholders have written off Yugra but I am 100 per cent certain we'll get Yugra back". If the tycoon succeeds, he will restore a jewel to Sibir's portfolio. Before April, Sibir's shares were trading at 28p, about 6p representend by Yugra.
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I have been spending time reviewing the pattern of trades today re SBE.Large buys and sells in fairly equal measure indicate that traders are quietly making a few quid knowing that this could go for quite some time.As a long termer my view is that this is a no-brainer.Middle East supplies are going to be fraught for the foreseeable future.Notice how its all gone quiet on the Ukranian Front.Watch Bush cuddle up to Putin.He needs the Salym field and others he can get his trading hands on.USA and Russia need each other badly.which is where Sibir and others like it are going to be 'stars' of the future.Russia represents relative stability compared to the hell that Saudi,Iraq et al are going to be Medium Term.I would be surprised if this share did not do extremely well from now on.
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Investors in Sibir agree fee of 15m
By Christopher Hope, Business Correspondent (Filed: 21/12/2004)


Shareholders in Sibir Energy yesterday agreed to pay $29.1m (15m) to a Russian businessman for arranging a $150m loan package which stopped the company losing control of its second Siberian oil field in a under a year.



Henry Cameron, Sibir's chief executive, said that banks were unwilling to lend competitively after Sibir lost nearly all of its 50pc stake in a venture with Russian oil company Sibneft in the Pirobskoye field in western Siberia.

Instead, Chalva Tchigirinski, Sibir's biggest investor, found the money. In return he is being paid the fee in shares, taking his stake from 42pc to 52pc, and dilluting everyone else by 3pc.

Speaking at a meeting to approve the deal, Jeremy Le Sueuer, fund manager at Church House which controls 650,000 shares, complained of not enough "justification" for the payment.

However, Mr Cameron stressed that Mr Tchigirinski's fee was half the price charged by banks.

He said that without the fresh funds Sibir would have had to hand its 50pc stake in the 800m barrel Salym oil fields to Shell. "We had to find $130m to meet our share of the Salym development to avoid dillution by Shell," Mr Cameron said.

Shares in Sibir, which have been suspended since April, are due to resume trading on the Alternative Investment Market this morning. Mr Cameron promised a rosy future for Sibir's investors telling them that turnover could jump from $250m to $1.5billion in "three to five years time".

The company's downstream business, which includes 25pc of 40 BP petrol stations in the Moscow area, is doing well. The petrol stations alone made $2m on turnover of $8.5m in November.

Mr Cameron, 65, said the year had been the toughest of his business life, adding that he had offered to quit over the loss of the stake in the Pirobskoye field, which had been held in a joint venture with Chelsea FC owner Roman Abramovich's Sibneft.


wilbs

Thanks for that Wilbs.. hope your shopping trip didnt prove too grim.. I couldn't face it today so will leave it until the last minute.. as usual. I'll wait a bit for the price to dip that bit further & hope to catch it on the up.

Chris

Thats ok chrispine, hope it was some help. Shopping was as grim as it always is. Hope the hangovers getting better. Im sure its one of many to come over the festive period.

wilbs

Amongst all the reports of a missing oil well and possible civil suits at least SIBIR are getting on with the job in hand. A considerable amount of investment is forthcoming and maybe not before this New Year but maybe next New Year if SIBIR get ahead of schedule this company will be rolling out the barrels. Meanwhile we should relax and roll out a few barrells ourselves. Merry Christmas and Happy New Year to all 'Posters'
Sibir says development plan for North Vadelyp oil field in Siberia approved
AFX


LONDON (AFX) - Sibir Energy PLC said the board of Salym Petroleum Development NV, in which Sibir unit Evikhon has a 50 pct stake, has approved a development plan for the North Vadelyp part of the Vadelyp license area in western Siberia.

The board comprises equal representatives of the Royal Dutch Shell Group and Sibir.

The board further approved a lifecycle capex budget for the North Vadelyp development of 249.2 mln usd, including a 2005 capex budget of 12.3 mln usd.

SPD expects that most of the North Vadelyp budget will be expended after SPD becomes self funding.

The 'Integrated Development Plan' covers the development of the North Vadelyp field as a satellite development of West Salym, with first production forecast for October 2006.

Peak production of oil is around 18,000 barrels of oil per day. Cumulative oil production until 2033 is estimated to be 104 mln barrels. Peak production from all three licences is forecast at 150,000 bpd, it said.


WOULD ANY ANALYST OR SIMILAR BE ABLE TO SAY WHAT THE ESTIMATED INCOME AND POSSIBLE SP BE IF THE ABOVE WORKS OUT AS PLANNED.

From Rigzone.com




24.12.2004
Sibirs Annus Horribilis Brightens As Production Starts Early At West Salym
A difficult year looks set to end a little brighter for Sibir Energy - which has finally resumed trading on Londons Alternative Investment Market after its shares were suspended in April - with news that the West Salym field in Western Siberia has started production a year ahead of schedule.

The field is one of three under development by Salym Petroleum Development (SPD), a 50/50 joint venture between Shell and Evikhon, which is now 100 per cent owned by Sibir.

The company has suffered something of an annus horriblis in 2004. In April it discovered that a corporate raid had mysteriously diluted its 45 per stake in an upstream joint venture with Russian oil baron Roman Abramovichs Sibneft to just 1 per cent; one analyst said Sibir, which had only recently emerged from a cash crunch, had been robbed blind.

The problems with the Sibneft-Yugra JV have had far-reaching implications for the British company, which had put up its share in the JV, valued at US$111.5 million, as collateral for 45 per cent of the new Moscow Oil & Gas Co (MOGC). The companys partner in MOGC, the city-controlled Central Fuel Co, agreed to put in its downstream interests, including the critical Moscow Refinery, into the new venture, which Sibir saw as a lynchpin in its future growth plans. Sibir has long been sought to build a fully integrated oil company in Russia and the formation of MOGC was seen as key to realizing this vision.

With Sibirs collateral somehow vanished the exact circumstances are still unclear - the company worked hard to salvage the MOGC deal. It has taken eight months of negotiations and complex deal-making in order to get the company back on track.

In June 2004, it agreed to subscribe US$184 million for its shares to be satisfied by the contribution of its interest in Magma Oil Co, valued at US$180 million, and cash, as well as injecting 25 per cent of its Evikhon asset into MOGC. As a result, Sibir will hold 70.6 per cent of MOGC.

Meanwhile, Sibirs financial position was shored up in August when Bennfield, owned by Russian investor Chalva Tchigirinski, gave notice that it would exercise its right to subscribe for 171,647,731 ordinary shares, resulting in a cash injection of 20 million. This cash was used to cover cash calls for the development of the Salym oilfields. Bennfield now holds a large stake in Sibir, giving some analysts cause for concern about the rights of minority shareholders; the company is not governed by the provisions of the Takeover Code.

The companys books have also been enhanced by results from Sibirs trading division, which was created in March, prior to the shock discovery of April, to trade products refined at the Moscow Oil Refinery. That initiative has proved highly profitable: in the seven months to September 30 2004, the trading division has contributed some US$21 million in gross profit from the processing of crude oil and the sale of oil products.

Sibir has also taken steps to boost its shareholding in Evikhon, through the US$153.3 million acquisition of Hitchens Global, which has an 8 per cent stake in Evikhon and is currently owned by Bennfield, and the purchase of a 10 per cent interest in Evikhon from the UKs Dana Petroleum. These two deals will cement Sibirs 100 per cent ownership of Evikhon, which holds 50 per cent of SPD and, in the view of Sibirs management, is one of the best new field developments in Russia.

The proven and expected reserves attributable to Sibir through its interest in Evikhon put Sibir ahead in terms of reserves of most of its UK quoted sector peer group, the company said in a statement. Once Sibir begins production at the Salym oil fields in 2005 the board expects Sibir to be similarly highly ranked in terms of production.

SPD's proven and expected oil reserves stand at 657 million barrels of oil, a figure thats dwarfed by the official Russian reserve estimate of 1.1 billion barrels. The Russian reserve number includes reserves from the extensive
oil in place in the Salym fields' deeper Achimov reservoirs, which the operators want to appraise further before committing to numbers.

West Salym, which has now started producing, is the largest of the Salym fields, the others being Upper Salym and Vadelyp. Development and production from Upper Salym has already begun, and Vadelyp production is due to start in 2006. With high volume production starting within the year, it is expected that SPD will become cash flow positive by the end of 2006.

The oil produced from the initial wells on West Salym will be exported by road tankers until the Central Processing Facility and 90 km oil export pipeline, now under construction, have been commissioned. The CPF is designed to handle West Salyms planned production of 6 million tonnes of crude oil per year with an option to expand to 9 million tonnes per year after the Upper Salym and Vadelyp fields have been tied-in.

The pipeline will transport the oil from the CPF to the Yuzhny Balyk Booster Station, which ties into the Transneft main trunk pipeline system. At this point, output from the field will sharply rise heading towards peak production of at least 120,000 barrels per day by 2009. Drilling operations are continuing on West Salym and another two drilling rigs will be mobilized early next year to hike drilling rates. New drilling pads, infield roads and other facilities are also under construction.

Working in this remote area, on these huge oil deposits, is no trivial matter. There is a US$1billion price tag on the development of the Salym fields and the workforce has grown from 15 in early 2003 to around 500. An all-season 50 km road, energy supply facilities, storage tanks, field camps and helipad have been constructed.
Sibir reckons it will need a further US$202 million over the next two years to fund its share of the Salym oilfield costs. The company is in advanced negotiations with international banks to provide a facility of $75 million which would convert into a project finance facility of $150 million to fund the Salym Oil Fields. However the company has agreed a back up bridge financing deal with Bennfield should the banks fail to conclude a financing facility.
In addition to its upstream investments, Sibir has taken steps to enhance its downstream holdings. Through the Hitchens acquisition, Sibir has secured a 12.5 per cent stake in Mostnefteprodukt, an oil distribution and retail company part-owned by the MOGC Group. Sibir is keen to expand its down stream interests in the fast-growing Moscow market, which is already the biggest oil market in Russia. The Hitchens deal also brings the company a stake in ST Oil Limited, which is in a profitable petrol-station joint venture with BP Russia in the Moscow region.
But for the evaporation of its holding in Sibneft-Yugra, 2004 could have been a real turnaround for Sibir. The company is making money trading refined products, production has started at Salym and it has acquired interests in a host of downstream assets, making good its vision of a fully-integrated oil company. Despite this promise, however, investors will be slow to forget the shocks of April and the harsh and high-risk realities of working in Russia.
[ends]

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Is this a Christmas bonus announcement after the close of trade that will make investors/shareholders a little happier.

Maybe this will be something for the shareholders to discuss at the meeting on the 18th January 2005 as well as the mislaid or misappropriated (to someone else) oilfield.

Website article:- http://www.sibirenergy.com

24 December 2004



Major contract signed for infield flowlines construction at West Salym
Salym Petroleum Development, a joint venture between Shell and Sibir Energy’s Evikhon, today issued the following press release:

Construction of yet another major field facility at West Salym oil field in Western Siberia will begin in the next few days. This was announced today by Salym Petroleum Development N.V. (SPD), the operator of the three Salym oilfields, the largest of which is West Salym. On December 23, 2004 SPD signed a contract worth over US$ 15 million with “Stroytransgaz” Company for the construction of infield flowlines. Under the contract, “Stroytransgaz” will carry out all works at West Salym on building and hooking up to the well pads both production flowlines and water injection pipelines.

The infield flowlines construction represents an essential element in the implementation of the main challenge SPD has for the next year – to begin full scale commercial oil production from West Salym field in Q4 2005 and thereby ensure compliance with its license obligations. As part of fulfilling this task, intensive drilling operations have been underway at well pad 20, new well pads and infield roads are being built. Also progressing is the construction of the other key field facilities, the CPF (Central Processing Facility) and oil export pipeline, which will transport produced oil to the Transneft main trunk pipeline system.

“The contract for infield flowlines construction is the third major West Salym development contract that SPD signed in the recent two months”, commented SPD CEO Dale Rollins. – “The activities leading to the full scale commercial operation of West Salym are entering its crucial phase. And we are happy to have “Stroytransgaz” and other leading Russian companies with skilled personnel and impressive track record of working in the oil and gas sector as our contractors at this important stage of the Salym Project”.

Note for Editors:

Salym Petroleum Development NV is a company established on a 50:50 basis by Shell Salym Development B.V. and OAO NK Evikhon controlled by Sibir Energy. SPD holds production licenses for all three of the Salym fields, which are located in the Khanty-Mansiysk Autonomous Okrug in Western Siberia, 190 kilometres from the town of Nefteyugansk. It includes West Salym, Upper Salym and Vadelyp.

The production from Upper Salym has already begun. In December 2004, 1 year ahead of the deadline stipulated by the License Agreement, SPD started producing oil from wells in West Salym. The start of full-scale commercial production from West Salym is scheduled for Q4 2005. The production from this field is expected to peak with at least 120,000 barrels of oil per day by 2009. The oil production from Vadelyp is due to start in 2006.

ENQUIRIES:
Salym Petroleum Development NV
Elena Zakupneva, External Affairs Manager
+7(095) 518 97 20 Mob +7(095) 762-91-15

END

Why has the price dropped so much???

Maybe the price now has bottomed out and the buyers are re-appearing. I somehow cant get it out of my head that the Shareholders Meeting on 18th January 2005 has something to do with the confidence in this share. The Shareholders are meeting to discuss confidence in the Sibir Board and what is being done to get back the mislaid oilfield and when answers have been obtained - get ready for this share to move and quickly.

But if the Shareholders had no confidence in the board, then they would not have approved the Re-organisation at the Meeting in December

Lansdownboy, Im only relating what was said in the Press release on Christmas eve or it may have been the day before Christmas eve. The release stated that the meeting was to discuss confidence in the management/board and the loss of the oilfield. The article appeared in the Daily Telegraph. Are you aware of the meeting and if so what other purpose is there for it.

Solid buying of this share all morning even the 128k at 8.07 this morning would appear to be buy wrongly interpreted by mm. Due to Rise in oil prices, i personally don't think so. I think a month or so into its resurrection it will now find its 'just price'. I expect to see steep rises over the next few weeks to a level of 2.30 to 2.70. All in my humble opinion. DYOR

I agree, The Company is in a very strong position, and is undervalued at this price.

Shell is in desperate need to get its Reserves replacement up. Don't be surprised to see bid.

It will be interseting to see the progress of the Legal battle with Sibneft develop over there Oil Field Steal.

A Furious Pace in Western Siberia
27-Jan-2005
Salym Petroleum Development

--------------------------------------------------------------------------------





The Salym project in Western Siberia grew from a few dozen people to over 200 in 2004. The $1 billion project will see the development of these discovered, but never developed, fields peaking at around 120,000 barrels per day. Oil production commenced in December, ahead of schedule.

The Salym group of oilfields includes the West Salym, (discovered in 1987), Upper Salym (discovered in 1966) and Vadelyp (discovered in 1989) fields. Licences for the development, awarded in 1998, are held by Salym Petroleum Development NV (SPD), a 50:50 joint venture between Shell and OAO NK Evikhon, a subsidiary of Sibir Energy. The potential is large; recoverable reserves amount to 153 million tonnes. The oilfields are expected to have a life of about 30 years.

This quarter will see the construction of a 90-kilometre, export oil pipeline linking the West Salym oilfield to the Transneft trunk pipeline system as 40% of production is destined for export. Drilling operations are also being stepped up with another two rigs being mobilized to increase scope.

The project will contribute significantly to the Russian economy. Besides the required taxes and royalties that SPD pays to the Russian authorities, the JV is also using predominantly Russian services for the project. Currently around 78% of SPD staff are Russian with the plan to be over 90% in the next couple of years. By the end of the project, well over 75% of the capital will have been expended on local equipment.

In working in Western Siberia, Chief Executive, Dale Rollins, feels that, the learning curve has been very steep and were climbing it rapidly there is no choice. Things you tend to take for granted for example hydrotesting a tank arent so simple when its minus 35 degrees. We have many experienced Russians working for us and were learning fast.

Sustainable development and contributing to the local community is a key part of the project. SPD has begun building a kindergarten for 210 children, renovated schools and donated equipment to schools and a local hospital. It is also looking to establish a micro-credit scheme and has other ideas to help local businesses.

For more information on Salym, see Shell in the CIS, Issue number 4, December 2004.


EA/27.01.05