Can't believe there's not a thread on these already. Well worth having in your portfolio surely.

An impressive breakout.
With small oil companies in focus - especially those with Eastern European exposure, SBE could run quickly to new highs.
This from the website:
"Sibir Energy plc is a UK independent oil and gas production company which listed on the Alternative Investment Market of the London Stock Exchange in 1997 (stock symbol: SBE). As of December 2003, on the basis of its market capitalisation of 297.33 million, Sibir is the 7th largest out of 754 AIM-listed companies.

Sibir has a pure Russian focus with 100% of its reserves and crude oil production coming from the oil-rich Khanty Mansiysk Region of Russian Western Siberia. As at 30 June 2003, Sibir's attributable oil and gas reserves amounted to 1.4 billion barrels.

Currently in production are Magma assets, Upper Salym and Priobskoye group of fields."

"From the beginning Sibir's strategy comprised five components:

To exploit the cheap oil in the ground opportunities existing in Russia


To achieve control over the assets underlying Sibir's Russian investments


To trade part of control over assets in return for the funding of the development of the majority of the assets on a non-recourse basis


To establish Sibir as the natural home for small to medium sized producers in Russia who have no future prospects


To structure Sibir as a unique and robust UK/Russian partnership which enables to access major expansion opportunities in Russia not otherwise available to UK investors
By 2000 strategies 1, 2 and 3 had been achieved and Sibir continues to look for opportunities. Strategy 4 is ongoing. Strategy 5 has been implemented and the results are evidenced by:

- agreement in principle to acquire a 25% interest in British Petroleum downstream network;
- participation in Moscow Oil Company. "

The chart broke out decisively last friday and today's price action implies that things could accelerate now with old highs of 47p being the first real level of resistance. Today's news from Cairn Energy will only add fuel to the fire as investors turn their attention to this sector. Along with JKX, SBE is a quality play with Russian exposure. DYOR as always.

Methinks this co. is in deep doo-doo.

Rather unfortunate, but that's life in dealing with the Ruskies.

JKX went through a very similar thing a few years ago.

Best of luck folks,
Al