Another FSU oiler that has come under Mitvol's wrath,which has been reputed.
Of 4 analysts 3 buy and one overweight,presently to buy 271.5p(i,m in).20day average 295.55p 52 week 352p.Have similar agreements with both Gazprom and Transneft,presently producing 9170bopd and confident of reaching 10,000bopd
year end.




Phttp://www.investegate.co.uk/Article.aspx?id=200710030904330420F
cyril

wow now 20p offer this could go 25p today any views..

LONDON, Jan 6 (Reuters) - Urals Energy Public Company Ltd:
* Discussions regarding a potential offer for the company with a third party
have ended and no offer has been made
* Will now seek to agree with Sberbank that it will proceed to undertake a
disposal of its shares in Zao Dulisma and in Taas Yuriakh, its two
strategic
assets in East Siberia, to Sberbank or a subsidiary
* Will seek to finalise the proposals for the discharge of its obligations
to
Sberbank as soon as possible
((London Equities Newsroom; +44 20 7542 7717))

(For more news, please click here)

cyril

Bad news cyril I'm out for now.

Lot's of buys coming in now.

Anyone any thoughts about the value following the asset sale?

probably worth a penny.

From 3p to 16.25p in 16 days and no news.I think someone knows something and is not us.Once again share holders always the last to know.

Been watching these and can't get the courage to get in.

It is bouncing now, about 100% in the last 2 days from low levels and news soon

Hope some of you got in yesterday, up another 18% today, so farrrrrrrrrrrrrr. This has come up from about 4.5p to nearly 10p in days, someone on advfn reckons 50p in due course, dyown R

ATm, it is 9.75 to 10, there will be some tree shakes on the way, but news is expected, if you want in, possibly try on a shake, if u can! UEN is te epic

The news is here, just look at the action..............................................

Now 16.5p and today just another great RNS. If you are weak willed , this share has not been for you. On the hand if you had patience then this share of late has been a terrific buy, and appears to have turned the corner and in the process of being transformed and subsequent rerating.

Looks like this one is ready for another upwards swing?

RNS out.

"The Company's current production is running at 2,320 barrels of oil per day. This is based on natural flow rates at the Company's existing producing wells at Petrosakh and Arcticneft"

Next to Rkh i would say good value lol !

Plenty od excitement around UEN,volume up as to is the SP,along with takeover rumour,
RUMOUR is just that and treat as such?
cyril

A bit of a tree shake yesterday,followed by tidays excellent news. Looking for 15p as a reasonable target,for now?
cyril

10th November 2010

Urals Energy Public Company Limited

('Urals Energy' or the 'Company')



Operational update





Urals Energy, the Russian focused oil & gas exploration and production company, are today providing investors with an operational update.



The Board of the Company are pleased to report that the drilling of the side track well, 35b, at Petrosakh has now been completed and completion activities are being undertaken. Final flow rates will be announced next week once these have been fully assessed by the Company's management. Current daily levels of production at Petrosakh are 1,611 BOPD.





The loading of the second tanker in the amount of 25,999 metric tons at Arcticneft has also been completed. The price for the tanker was set at the level of the October average price of $82.744 and a premium of $1.020/bbl. The full tanker was shipped before 1st November 2010 therefore meaning the company paid export duty at a lower rate of $266.5/mt instead of $290.60/mt, which is the November average price.



Proceeds of the sale will be received within a week and a repayment of $3 million will be made to Petraco in line with amended debt repayment structure previously announced.



Further operational updates will be made as appropriate.

DWC - Just an email out to their clients:

"....I am pleased to flag the operational update from Urals Energy (UEN.L) detailing that the Company has both completed the side tracking of well 35b, at Petrosakh and that final flow rates are due to be announced next week. With current daily levels of production at natural flow, we anticipate that this can be lifted by 10% with minimal investment. The loading of the second tanker at Arcticneft has also been completed, at an average price of $82.744 and a premium of $1.020/bbl. This has enabled the Company to repay $3m to Petraco, in line with the agreed debt servicing.

With two producing assets, and sufficient cash generation and reserves to meet the debt schedule, we see the risk factors in the Company as being significantly mitigated, and benefitting from both macro drivers in the oil price as well as the potential for a fillip from the intercompany Taas loan of c. $35m, we continue to see significant potential for share price upside, and retain our BUY rating, with a dcf derived price target of 23p, with a less conservative fair value of 49p. We expect further operational updates in the short term......"

Topped up this am,i feel it's now a lot safer to do so.latest update
cyril

Highlights from the 8th Annual Oil & Gas Week: Urals Energy

UEN LN: BUY, target price: GBP0.37

Urals Energy presented at Renaissance Capital's 8th Annual Oil & Gas week in Moscow yesterday (8 Nov). The company confirmed that its key priority for 2010 has been to achieve operating efficiency at its two remaining assets, while before its strategy was focused on debt and asset restructuring. The key points of the presentation include:

- As a result of its focus on operating efficiency, Urals Energy has reduced its head-office headcount from 120 people to just 20 people, while opex and overhead expenses at Petrosakh are down 13% in 1H10 and are down 44% and 55%, respectively, at Arcticneft.
- The company's development strategy envisages effectively doubling oil output from 2.3kbpd to about 4.9kbpd by 2012 through three new sidetracks and development wells at Petrosakh, five new development wells at Arcticneft and optimisation of waterflooding and well servicing.
- The company is looking at ways to better utilise its asset base through raising its production level, by participation in a potential auction for an exploration licence on Kalguev island (near Arcticneft), and potentially acquiring upstream assets on Sakhalin Island (near the Petrosakh production facilities).
- The company is confident that it can repay a $7mn debt obligation before year-end to Petraco, given that the proceeds just from shipping crude from Arcticneft last month amounted to over $7mn. Management also thinks the loan to Taas-Yuriakh (about $36mn) could be repaid ahead of schedule, subject to Sberbank's successful sale of this asset.

We think that Urals Energy presents a very interesting turnaround opportunity, while the current share price does not fully reflect value creation from the companys recent efforts. The fundamental value of its asset base (59.6mn bbls of 2P) is clearly more than the current market cap of about $40mn, with M&A deals or more aggressive production growth as the two most likely options to unlock this hidden value, in our view.

..........so it seems that Urals ARE starting to PR their company, where it really counts, back in the USSR ))