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

Talk over there of 5.5 million share to be bought from monday onwards.

Credit Suisse initiates coverage of Ruspeto (RPO) with an Outperform rating and 332p target price.

Russia Energy Ministry considers oil export duty cut

http://www.reuters.com/article/2012/03/27/russia-oil-tax-idUSL6E8ER5P320120327

FTSE 250 firm RusPetro (LON:RPO) is the subject of an initiation note from investment bank Credit Suisse.
"We initiate coverage of RusPetro with an Outperform rating and a target price of 332p, making it one of our preferred stocks in European E&P," said analyst Ritesh Gaggar.
The firm has assets in Western Siberia - the largest oil producing region in Russia.
It has independently audited 2P (proved and probable) reserves of 1.4 billion barrels of oil equivalent and plans to increase production from around 4,500 barrels per day to around 96,000 by the end of 2016 and to more than 300,000 barrels by 2027.
Gaggar said it traded at a 43 per cent discount to its risked NAV (net asset value) of 332 pence.

RusPetro Broker Views

Date Broker Recommendation Price Old target price New target price Notes

26 Mar Credit Suisse Outperform 203.90 - 332.00 Initiates/Starts

http://www.barchart.com/cheatsheet.php?sym=RPO.LS

Company website worth a good look.

http://www.ruspetro.com/operations/reserves/

RUSPETRO RPO

BoA ML

First Operational update post IPO completion provided an extremely impressive account on a number of fronts and, as a result, we raise our NAV by 60p(+20%) to 372p. The hoghest-ever unstimulated flow rate from a well on the field has been achieved at 700boe/d, and fracturing could increase the flow rate by 2-3x. Consequently, managment are upping the rig count this year from 2 to 4 rigs - 20 months ahead of original guidance of 2014E - in order to pursue this highly significant occurrence. In addition, the crucial 27km tie-in to the Transneft pipeline in already 81% complete and on schedule for commissioning in May. BoA ML reiterate BUY rec and new PO/NAV of 372p, implying c. 87% upside potential

RPO -- Our infrastructure build-out is advancing ahead of schedule to support our anticipated increased production this year. We are also delighted to be included in the FTSE 250 index.

http://www.rigzone.com/news/article.asp?a_id=116035

RPO RUSPETRO

Just a reminder before results on monday
16th.......

merrills..
Our sales focus of the day…



Buy RusPetro (75% Upside): Compelling Valuation and Rapid Production Growth



Following Alex Holbourn’s recent initiation of Russian E&P RusPetro, we take the opportunity this morning to add it to our Mid Cap 1 list of most preferred European mid cap stocks. The company is incredibly cheap, trading at US$0.84/bbl on an EV/2P basis, which equates to a 50% discount to the next cheapest Russian & CIS E&P peer under coverage, Exillon. We believe the management to be extremely competent, the asset to be under valued with significant ramp up potential, and now we are past the peak of political risk in Russia with elections all complete, we are high conviction BUYERS of RusPetro.



Why we are BULLISH Ruspetro:

Materially undervalued 2P reserves trading at US$0.84/boe: The company owns three licences containing 2P reserves of c.1.4bn boe, certified by international auditor D&M. RusPetro is currently trading on an implied EV/2P boe of US$0.84/boe versus Russian & CIS E&P peers under coverage trading at between US$1.7-2.3/boe.
Experienced management team: CEO Don Wolcott has a strong track record, having overseen a doubling of production at Yukos where he was Director of E&P Technology and Senior VP.
Rapid Production Ramp-up: Via an accelerated drilling programme of production wells; and the maximisation of individual well productivity and recovery factors via standardised production enhancement techniques, including hydraulic fracturing and waterflooding.
Good level of current production: Current production of 4.5kboe/d has grown >3.0x from a low base in mid-2010, when current management ramped up operations. We have production growing from 7.1kboep/d in 2012E, doubling to 14.3kboe/d in 2013E, and rising again by c.50% to 22.1kboe/d in 2014E.
A play on a more favourable Russian political outlook: The idea is also consistent with our more bullish stance on Russia. Indeed we see post-election protest action peaking on Thursday while strong oil is supportive for a risk on environment which we think leads to a return to inflows into the region.
Potential FTSE All-Share/250 inclusion? We will find out tomorrow evening if RusPetro has made it into the FTSE All –Share. If it has then we estimate c.5.5m shares will need to be bought.

RPO RUSPETRO

Just a reminder...

BRIEF-RESEARCH ALERT-Renaissance Capital starts Ruspetro with buy
29 Feb 2012 - 06:05

Feb 29 (Reuters) - Ruspetro PLC :

* Renaissance capital starts Ruspetro with buy rating; price target of

750P

For a summary of rating actions and price target changes on European companies:

Reuters Eikon users, click on [RCH/EUROPE]

Results day is Thursday as per the Mail item at the weekend.

This is what the RNS said earlier......

Full Year 2011 Results and Capital Markets Day

Full year 2011 results of RusPetro will be released during the week beginning the 16th April in conjunction with a capital markets day for investors and analysts

RPO RUSPETRO

Weekend Mail Article.......

POPULAR since floating at 134p in january, shares of Ruspetrohave eased from a high of 237.3p but closed 3.5p better at 198p yesterday (friday). The Russia-based explorer with assets in Western Siberia hopes to float fund managers boats at its Capital Markets Day in the city on Thursday. The £163m proceeds of the floatation is being spent on paying for the drilling across the Siberian licensed fields by 2014.

RPO Ruspetro....

Note from Credit Suiise this morning....

Upped forecast from 332p to 340p

17 Apr RusPetro RPO Credit Suisse Outperform 199.10 332.00 340.00 Retains

RPO RUSPETRO

Superb results and excelent trading outlook..

Current Trading & Outlook

RusPetro maintains its production guidance for 2012 of an exit rate of 10,400 bopd, corresponding to an average for the year of 7,652 bopd, from its current production level of 4,600 bopd. The company is comfortably on course to drill its target total of 24 production wells by year-end. It has added two further rigs to its existing roster of two, and these additions will provide flexibility in the drilling programme including the capacity to high grade its chosen well locations. Costs will fall during the year as new power generating equipment, driven by associated gas production, comes on stream.



Among its UK-listed peer group, RusPetro is unique in being focused upon a single, large-scale, onshore asset to which modern enhanced recovery methods, still under-utilised in Russia, can be applied. The Group is well-positioned to grow production rapidly, drive down unit costs, and grow reserves further from its already exceptional base. RusPetro is confident of delivering a steady increase in value for its shareholders in 2012, and beyond.



To view a video interview with Don Wolcott, CEO and Tom Reed, CFO please visit spacewww://www.ruspetro.com or access the video and transcript directly via http://merchantcantos.net/ruspetro/2012/full-year-results



The management presentation will also be available as an audio webcast from 2pm BST onwards via spacewww://www.ruspetro.com



Enquiries



Media
Patrick Handley / Natalia Erikssen, Brunswick
+44 207 404 5959

http://www.investegate.co.uk/Article.aspx?id=201204190700216330B

RusPetro trebles revenues in 2011, ups reserves
19 Apr 2012 - 07:15

MOSCOW, April 19 (Reuters) - RusPetro , the independent Russian oil company that floated in London in January, said on Thursday that it more than trebled revenues and cut core losses in 2011 as it expanded its reserves base and boosted output.

The company said that revenues rose by 209 percent to $38.7 million, while earnings before interest, taxation, depreciation and amortisation narrowed to a loss of $5.5 million in 2011 from a loss of $6.3 million the previous year.

RusPetro boosted average production by 136 percent to 2,475 barrels per day. Its proven reserves rose 30 percent to 157 million barrels, while proven and probable reserves increased 95 percent to 1.4 billion barrels.

RusPetro raised $250 million when it listed in London. Its shares have since rallied by nearly 40 percent to value the company, which has been included in the FTSE 250 mid-cap index, at just over $1 billion.


(Reporting by Douglas Busvine)

((douglas.busvine@thomsonreuters.com)(+7 495 775 1242))

Keywords: RUSPETRO RESULTS

UPDATE 1-RusPetro trebles revenues in 2011, ups reserves
19 Apr 2012 - 08:58

* Targets output of 10,400 bpd by end-2012

* Long-term target to produce 300,000 bpd - CEO


(Adds details)

MOSCOW, April 19 (Reuters) - RusPetro , an independent Russian oil company that floated in London in January, said on Thursday that it more than trebled revenues and cut core losses in 2011 as it expanded its reserves base and boosted output.

RusPetro raised $250 million when it listed in London. Its shares have since rallied by nearly 40 percent to value the business, which is included in the FTSE 250 mid-cap index, at just over $1 billion.

The company said that revenues rose by 209 percent to $38.7 million in 2011.

Earnings before interest, taxation, depreciation and amortisation narrowed to a loss of $5.5 million from a loss of $6.3 million the previous year.

RusPetro boosted average production by 136 percent to 2,475 barrels per day (bpd) in 2011. Its proven reserves rose 30 percent to 157 million barrels, while proven and probable reserves increased 95 percent to 1.437 billion barrels.

"We're currently at 4,600 barrels a day and we're ready now to start putting online and completing wells," CEO Donald Woolcott said in a video briefing.

Woolcott, a former executive at oil major Yukos, added that RusPetro expected production to end 2012 at 10,400 bpd and would drill around 24 wells. The company has completed a sales pipeline that ties it into Russia's trunk pipeline network.

RusPetro is developing territory in Western Siberia adjacent to established projects. Based on an independent evaluation, RusPetro's assets could ultimately deliver production of 300,000 bpd, Woolcott said.

Since the end of the reporting period, RusPetro has added 10 percent to its proven reserves, bringing them to 173 million barrels, while its proven and probable reserves are up by 7.5 percent to 1.545 billion barrels.

RusPetro said at the time of its IPO that it would use the proceeds of the float to develop existing operations and pay down pre-IPO debt of $444 million, according to a presentation seen by Reuters.

The company is partly owned by management including Executive Director Alexander Chistyakov, a former director of several state utility firms.


(Reporting by Douglas Busvine; editing by Jason Neely)

((douglas.busvine@thomsonreuters.com)(+7 495 775 1242))

Keywords: RUSPETRO RESULTS/

Excellent news...

Newly Listed FTSE 250 Company is "Poised to Grow Production" Says RusPetro CEO in Video Interview
LONDON, April 19, 2012 /PRNewswire/ --

FTSE 250 recent joiner RusPetro, an independent oil & gas development and production company with assets in Russia, has today held a Capital Markets Day following their 2011 results announcement.

In a video interview with online financial broadcaster
http://www.Cantos.com, Don Wolcott, RusPetro CEO, discusses the progress made since IPO, the potential for production growth and the company's future plans.

Dr Wolcott states that since IPO at the beginning of the year, RusPetro has "put in some very key infrastructure which has given [them] the ability to push costs down to be a competitive low cost operator."

CFO Tom Reed comments on the restructuring of the company's debt and reduction of OpEx. Referring to the location of RusPetro's activities in Western Siberia, one of the largest oil producing regions in the Russian Federation, Mr Reed affirms that "costs in Russia are actually relatively modest if you control them directly and accurately yourself."

Looking ahead, RusPetro's aim is to "be the low cost producer in Russia as well as harvest the prize, which is to get to that 300,000 barrels a day," states Dr Wolcott, referring to the estimated peak rate achievable from the company's reserves


http://www.prnewswire.co.uk/news-releases/newly-listed-ftse-250-company-is-poised-to-grow-production-says-ruspetro-ceo-in-video-interview-148053755.html

VIDEO INTERVIEW

http://www.cantos.com/

RPO RUSPETRO

19 Apr 2012

RusPetro
Don Wolcott, CEO and Tom Reed, CFO

RusPetro 2011 results
Operational Update - Don Wolcott, CEO
This is RusPetro's first set of results since listing on the London Stock Exchange. Can you take me through the latest developments?

What we promised the market originally was four key issues - production growth and putting in the infrastructure to support that production growth, to enable that production growth and what is our prime focus after 90 days after the IPO is basically to bring those results to the market. The key things that we needed to put in to support that production growth was a sales pipeline. It's a 27km sales pipeline and I'm very happy and proud of our team that I can announce that we've put that pipeline in. We put the pipeline in ahead of schedule, significantly. We promised the market we would have the pipeline in and commissioned, with crude going through the line, at the end of May. We've in fact been pumping crude through that line since the beginning of April. We had budgeted that pipeline at $10m and we put it in for $8m, so we also saved a significant amount of money. Also, the reason it was a compelling thing to put in was because we get $2.20 per barrel of cost savings on OpEx as well.

The second infrastructure upgrade is the power generation. And on power generation what we wanted to do there is also save OpEx in terms of electricity costs for our production as well as reduce some of our CapEx in drilling our wells. We use power of course to power up our rigs and we can save about $150,000 per well using these new gas-fired generators that we've put in. We are also able to use the flare gas. So those are OpEx savings that we get - we targeted about $1.60 a barrel for OpEx savings because we generate our own electricity as well as the $150,000 per well that's a target to reduce our new well costs.

So between these two first infrastructure upgrades we are targeting nearly a $4 decrease in OpEx per barrel and both of these things combined really put us towards our ultimate goal, which is to be the low cost producer in Russia.

The other big challenge we had to do post IPO was to put in place the drilling pads so that we could go ahead and drill. At the end of the year we only had one rig operational. With that one rig operational we had drilled really to the extent of the drilling pad that we had built and in addition, we built three more pads and with those three more pads we've had the ability now to stand up additional rigs.

So, in summary, what we've managed to do in the first 90 days is we've put in some very key infrastructure which has given us the ability to keep our costs, to push our costs down to be a competitive low cost operator and in addition, is going to facilitate our production growth which we're now poised to move ahead and begin to put wells in the ground and grow our production.

Production Growth - Don Wolcott, CEO
Picking up on production growth, what can we expect from here?

Okay, currently we're at 4,600 barrels a day and we're ready now to start putting online and completing wells. Our exit rate is still targeted at 10,400 and we'll stick with that guidance and we'll also stick with the guidance of drilling approximately 24 wells this year and we do have the rig capacity to do that and we have good locations, so those targets are still going to be our guidance and our plan.

Our asset is a very large asset. We have 1,200km² of asset area and across that area we have more than 1,000 well locations identified, so it's truly a world class large asset with over 1.5 billion barrels of 2P reserves and with the recent reserve report, we have 173 million barrels of proved reserve.

Our recent Competent Persons Report that we did at the time of IPO has defined the size of the prize as a peak rate of around 300,000 barrels a day. So our charge as management of this company is to go out and execute and develop this asset.

And what makes you confident you can actually get it all out of the ground?

We have a good management team. We have a good exploration, production, development team in general in our company. We were able to put that together as part of leading up to the IPO and since that time. Myself personally I've had a long history in the oil and gas business and specifically in Russia developing and producing assets in Russia. The rest of our team has a lot of very good and applicable Russia experience and also oil and gas and business experience in Russia. So we have a great team. It's all about having a good plan and executing on that plan and we feel we have both.

And how about the location, why does that suit you?

One of the things that I knew about Russia's production after having run one-third of Russia's production in my previous company that I worked for was that I knew the best way to keep an operation that was low cost, and therefore competitive through all kinds of market conditions, was to get an asset that was near existing infrastructure. So we fully hooked up into the good low cost, federal grid in all of its different versions: roads, power lines, pipelines etc. So this helps to keep costs low.

In addition, we have a number of big fields nearby. We are in the area of Russia where two-thirds of Russia's production comes from, so we're surrounded by good low cost Russian service industry. We're also in an area where the rest of the fields are off peak production. We have services available where they're looking for places to go and do work and then additionally, I understood the geology. I developed fields like this in the past, so it fit.

Finance - Tom Reed, CFO
RusPetro has a clear growth strategy, but how are you going to finance this growth?

Well historically we've financed growth at RusPetro through our own means. Shareholders have contributed a significant amount of money to the company and Sberbank provided strategic support from the very beginning when we acquired the assets.

The IPO of course helped improve that situation considerably and all shareholders and our senior lender Sberbank came together in a very supportive, very constructive way during the IPO. We were able to restructure the debt for an extra two years with Sberbank out to 2015, gave us some room to grow and investor loans, shareholder loans were restructured as well. Most of them not for cash, so we were able to conserve quite a bit of cash and to have significant funding now for the next two years. In short, the development plan that we brought to the market is fully funded, at least through the end of 2013 in today's price environment.

And can you just give some more detail on the cost of development in Russia?

Costs in Russia are actually relatively modest if you control them directly and accurately yourself. What we've found is that we can drill wells for less than $2m. Our empirical average for 2011 was about $1.6m and at our initial rates and in today's price environment the payback on those wells can be considerably attractive relative to other markets.

We're working now on reduction of OpEx, reduction of lifting costs per barrel and the best way in our industry to do that is to increase the denominator, to increase your barrels produced. Those costs are relatively inelastic and they stay semi-fixed while your denominator grows. So we've done that this year both by increasing production and we had some major infrastructure builds already from the IPO that will help directly reduce OpEx by eliminating trucking and transport costs for a while and reducing our electricity costs.

And can you briefly cover your sales strategy and your margins?

Historically we've sold oil through the Transneft pipeline system. Most of that is delivered domestically to refineries. In 2011 we began exporting. We used Glencore as an off taker and our export quota given to us by the Russian Federation was for Hungary. So we're able to use those routes competitively depending on where we think we can get the best netback.

But I think an important aspect of RusPetro's business is the quality of our oil. We have very high quality oil at 41 API in the western part of our field and over 50 API in the eastern part of our field and if we are able to sell that oil outside of the Transneft system, considerable premiums are available. Just this month we've been able to, for the first time in the company's history, sell oil directly by truck from our field and we were able to achieve a contracted premium of $9 a barrel relative to our domestic Transneft deliveries.

Future Plans - Don Wolcott, CEO
How is 2012 looking so far and what are your plans for the rest of the year?

I'm excited to say 2012 has gone really well. Obviously starting out with the IPO, that was a huge milestone to get through. I'm very proud that our team did that. It was unique for the market and we as a team we put together a great sales line, we've put in the power generation, we've built out the pads, put in in-filled lines, so we've, as we discussed earlier, accomplished a lot in the first 90 days.

So key things that we need to do now is go ahead and ramp up that production, get the wells in the ground and we do have the infrastructure to hook them up and we've got the equipment in place to do that, so now it's execution. Execute, get the wells in the ground. We do have some oil treatment facilities that we've got to get online and that is really our main focus now from an infrastructure point of view is to get the oil treatment online to support that production that's coming online with the new ones.

And how about over the medium and longer term?

Medium and longer term we will put in significantly larger oil treatment facilities. We will have roads and paths and pipelines out into the centre portion of our field where we have a major fairway and a significant number of new wells that we will need to be putting online. Also, in the southern area of the field there is a new area down there that is very promising. That will require some 3D seismic. We'll shoot that. We need to integrate that. There will also be in the medium-term a number of new revisions for our geologic modelling. So those are medium-term issues that will get us out into some new areas and really help us ramp up the production.

And longer term, what we will do is be the low cost producer in Russia as well as harvest the prize, which is to get to that 300,000 barrels a day.

@commercia: I met with the company and CEO a while back, the management are top notch and indeed very clever. There are political risks, you are right, but with RPO these are minimised first of all because of the ties to Androsov and Likhachev (latter is the ultimate beneficial owner of Limolines, which owns 29.74% of co) and also because the company (unlike a lot of of the other oil interests in the region) is split between several main founders. In Russia a lot of conflict is often personal, and this division acts as a negating effect for a controlling stake through one individual. Obviously the other risks are typical of an E&P - licence extension, production rate, execution risk (and specifically in Russia taxation rates) - but you must remember that all the brokers discount their target prices by a risk factor, which is usually around the 15% mark for this company, hence all the risks are very much taken into account.

This company is just at the beginning of a great journey with a fantastic new management, and there is so much upside (check out their CMD powerpoint for those who have access to it, graph on page 8) as they ramp up production. You think it looks expensive here but looking back in a year's time this will look like a blip on a much bigger chart, its all psychological - check out Ophir, Africa Oil recently, and Tullow - everyone thought Ophir looked expensive at 350 when it had a big one day rally, but looking back now with the sp at 570, that looks insignificant! Same with Africa Oil etc. RenCap rate this 750p (and they were underwriters/bookrunners for the company), Credit Suisse upped their target price yesterday to 345p and Mirabaud have it at 250p. Future updates will have great potential for reratings and new coverage as the stock gains traction within the oil E&P universe (watch out for IMS on 17 May)