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 Number:9097E
Sibir Energy PLC
05 November 2004

5 November 2004

SIBIR ENERGY PLC ("Sibir" or the "Company")

Sibir previously announced that it would post a circular to shareholders
on or before November 5, 2004. Whilst the circular itself and all related
matters are at a very advanced stage, the Company was over optimistic in
believing that all matters could be pulled together within that time framework.

The Company now expects to be able to publish a circular during the week
commencing November 15, 2004 with the Extraordinary General Meeting to be held as
soon as is possible thereafter.

This announcement is made with the knowledge of AIM Regulation and their consent
to the amended timetable.






This information is provided by RNS
The company news service from the London Stock Exchange

END
MSCUVOARSWRARAA

Anybody got any idea how this will fair when trading begins tomorrow? Just trying to find some light at the end of the tunnel following recent events at PET!!

Wildboy, this will fly over 3 tomorrow.

At what price do you feel it will open at?

Wildboy - Grateful you explain PET

Oakapples, PET had risen to 1+ on the back of intense speculation regarding the potential award of the first post war oil contracts in Iraq. Following a supposed leak from the oil ministry saying that PET had missed out on the first two contracts available the share price subsequently collapsed leaving several people out of pocket. That said I still believe that there may be one or two more twists in the tail with this before very long. Hope that explains.

Wildboy

Wildboy - Thanks - It will now be interesting to see if anyone is prepared to answer gra1969 post number 5 - SBE is now very much in my Watchlist for a very early look to-morrow.

Expect to Open at 2.72 and rise upto 3.20 a share , especially with First Oil Production started at Saylym 1 year early.

I work for the other Partner in Saylym and I have freinds working on the project.

They have sold all their shares in the Oyster shaped Company and are buying into SBE tommorow.

Keep an eye on their website for news of shareholder meeting today.

I have been in since 16p .

They are giving 1 share for 10 old shares as of tommorow,hence price.

If you actually go to the website and look at the report issued today you will see the 2.72 target price has a huge 'Russian ' Factor in that keeps the price down. This report was prior to early production start.

Have received the e-mail update from Sbe and Cannacord now! The target price of 2.72 is set out in there publication. Can we assume that the market will agree?

I think it will go higher ,

If you report the report they have been very cautious with this target.

Look at the Rised and Non Risked Targets.

This report has not taken into account early production start up of 1 year, so cash flow will be substantially better than forecast.

I have alot more info on Saylym via my job with SBE partner and the drilling results are looking much better than first forecast.

With Shell being involved I think it will hot 3.20 ish

well what happened ? no 2.72 . Good stuff.

Give it time. There are problems with online dealing at the Moment .

I just had to trade over the phone and it took ages to sort out.

The shares at this price are a bargain.

I had the same problem...took forever.

SPD begins oil production at West Salym field a year ahead of schedule
15-Dec-2004
Salym Petroleum Development N.V. (SPD) has reached an important milestone in the development of the Salym Group of oil fields in Western Siberia. One year ahead of the schedule SPD commenced oil production from wells in West Salym, the largest of the Salym fields.

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Salym Petroleum Development N.V. (SPD) has reached an important milestone in the development of the Salym Group of oil fields in Western Siberia. One year ahead of the schedule stipulated by the License Agreement, SPD commenced oil production from wells in West Salym, the largest of the Salym fields. Putting producing wells into operation early will ensure SPD not only achieves the production levels stipulated by the Technological Schema (Field Development Plan) but also acquires new data on the pay zone characteristics, well rates and other key parameters and thereby be best prepared for full-scale commercial development of West Salym.

The oil produced from the initial wells will be exported by road tankers from West Salym to Upper Salym for further shipment to customers. This oil evacuation pattern will be continued until the Central Processing Facility (CPF) in West Salym and the oil export pipeline have been commissioned. This pipeline will transport the oil from the CPF to a tie-in into the Transneft main trunk pipeline system at Yuzhny Balyk Booster Station.

The construction of these essential field infrastructure facilities is now under way. Simultaneously, drilling operations are continuing on West Salym well pad 20, and another two drilling rigs are on schedule to be mobilized early next year to increase the drilling scope. As a result, new well pads are being built as well as infield roads and other facilities.

"The start of oil production from West Salym is a major achievement that we can be proud of", commented SPD's CEO Dale Rollins. - "This is the result of combined efforts of SPD and our Russian contractors. Within a relatively short timeframe, just over 1 year, a huge work scope has been carried out to put West Salym surface facilities in place. We will continue to increase the development pace, ensuring in the process compliance with the Russian environmental protection regulations, SPD Health, Safety and Environment standards, and with due regards to the needs of the indigenous people. Our next important milestone is the completion and commissioning of the CPF and oil export pipeline, which will enable us to sharply increase oil production and respectively commercial revenues from the Salym Project".

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.

Development and production from Upper Salym has already begun, and Vadelyp production is due to start in 2006. The production from West Salym, the biggest in the Salym group of fields, is expected to peak with at least 120,000 barrels per day by 2009.

SPD began intensive field development work in the autumn of 2003 after SPD shareholders had taken the decision to proceed with the Salym fields under the tax/royalty regime and approved the budget in excess of US$ 1 billion. Since then both SPD and the Salym Project have progressed at a rapid pace. From an organization with 15 staff in early 2003, SPD has grown to a large company with offices in Moscow, Tyumen, Nefteyugansk and Khanty Mansiysk. Currently, some 500 Russian and foreign specialists work in SPD.

An all-season 50-kilometer road, energy supply facilities, storage tanks, field camps, a helipad and other major field infrastructure facilities were put in place in West Salym. Drilling operations are ongoing as well as construction of new well pads, infield roads and the Central Processing Facility (CPF). The CPF is designed to handle West Salym's planned production of 6 million tonnes of crude oil per year with an option for expansion to 9 million tonnes per year after Upper Salym and Vadelyp fields have been tied-in. The construction of a 90 kilometres long oil export pipeline is under way. The pipeline will transport the oil from the CPF to the Yuzhny Balyk Booster Station, the point of a tie-in into the Transneft main trunk pipeline system.

Investments in the Salym Project will total US$330 million in 2003-2004. The majority of the funds are used for payments for the goods and services of Russian contractors and subcontractors of SPD. Some 800 large and small Russian companies, firms and research and development institutes, mainly from Western Siberia and the Urals as well as from Moscow, Saint Petersburg and other cities, are now working on the project. Federal and regional budgets have already been receiving tens of millions of dollars in taxes and fees paid by SPD contractors. The region's community development also benefits from SPD's activities. SPD has committed US$2.5 million for community development purpose in 2003-2005.

US$278 million will be allocated for the operations and continued development of the Salym Group of oil fields in 2005.

keeps saying STOCK NOT TRADED!!!!!!!!!

I had to go through to the 3 people and direct to the floor to get the trade .

Barclays and i think all other online traders etc, have not dealt with the 10 for 1 share result of yesterdays agm , I am showing 650% profit on my holding i had from Jan this year.

Trading difficulties are keeping the price down.

STILL NO JOY! bloody hell!!!!!

HSBC were OK but I had to accept 197p (at best) - lets hope trading difficulties improve as currently not looking healthy

Hoodless Brennan were ok with dealing. I bought at 197p.

I see sellers aren't suffering the same difficulties as buyers.