Anybody know anything about this....EK is in.....rising, but I don't know a thing about this newcomer....,

Sadly, history is no help for support level.

StockMarketWire.com
Indpendent oil and gas development and production company Ruspetro narrowed its full-year pretax loss, on higher revenue, and failed to meet its production targets.

Revenue was $76.2 million, from $38.7 million. Pretax loss was $28.1 million, from $88.7 million. The company produced a gross profit of $1.4 million, from a loss of $13.6 million.

"Over the course of the year we have faced some significant challenges," the company said in a statement.

"We are clearly disappointed not to have met our production targets to date but we have implemented a number of initiatives which have had a beneficial impact on the business and led to a positive EBITDA in the final quarter," it said.

"While the development of our field is at an early stage, we have successfully increased our proved reserves base and are developing a significant gas business validated by the recent signature of an Agreement of Intent to supply dry gas with an expected sales value of USD $700million over the period of the Agreement," it said.

"We are currently developing a plan to build production and we are working with our lender to arrange the required financing."

The company's proved reserves were up 35% to 234 million boe at Dec. 31, 2012. This included a 32 million boe increase in oil and condensate reserves and 29 million boe of commercial gas reserves.

Proved and probable gas reserves totaled 153 million boe.

Average 2012 production was up 81% over 2011 at 4,639 boepd

Ruspetro's net debt was $335.9 million. It held $34.4 million cash.

Market not liking it.

Shares up over 40%, this could be the long awaited rebound.

http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11531354

http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11530477

http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11530477

That's better I think.
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11531354

Up over 10% already this morning!

20% wow.

Comment from Inv Chron this week (summary):
"Ruspetro borrowed heavily to fund the fields' expensive development, but because it is still cash-flow negative, it must raise additional funds for further field development. Talks are ongoing with principal lender Sberbank, but we're no longer convinced of management's ability to turn things around. Sell."

Shares still on the rise though Harry. Nice director deal giving it a bit more of a surge.
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11532341

And another good rise today, infact all last week.

draw down on loan, likely may, more ords to depress S/P i am out @ 45p. as said previous unably to crunch the numbers rpo come out with 12k bopd mayby in 2013

Another director purchase today.

ignord maths, bit the bullett bought back @ .4738 due to director buy notice came to late for me will now hold to notice 12k bopd

Only selling if stop loss kicks in. Meanwhile enjoying the ride. Quite a few large buyers today.

I too have set my stop loss and only selling if that's kicks in.

Almost through the 50p barrier.

watching very closely t.m.

another huge director buy today.

Interim results due out 7th November