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London South East Natural Resources Briefing webcast: #Emmerson #Alba #Condor Gold #Gold analysis
Angus Energy in talks to buy 'transformational' gas asset in North England


Cadogan Share Chat (CAD)



Share Price: 9.75Bid: 9.00Ask: 10.50Change: 0.00 (0.00%)No Movement on Cadogan
Spread: 1.50Spread as %: 16.67%Open: 9.75High: 9.75Low: 9.75Yesterday’s Close: 9.75


Share Discussion for Cadogan




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mpd12
Posts: 378
Opinion:No Opinion
Price:12.75
RE: Stuff
20 Apr '19
The Blazh-10 well is in the west of Ukraine on the Monastyretska licence. Completely unrelated to Astroinvest-Ukraine.
 
mpd12
Posts: 378
Opinion:No Opinion
Price:12.75
RE: Stuff
19 Apr '19
CAD (or it's subsidiary Astroinvest-Ukraine) has the (now expired) license for the Zagoryanska area. The deal doesn't make much sense to me. Maybe Astroinvest-Ukraine get revenue from gas trading, I found one website that states that Astroinvest-Ukraine made 14 million GPB in revenue last year but literally no other information.

Also could be buying because Astroinvest-Ukraine have a tax loss of 100 million that they can use.

Also maybe Burisma know which pockets to line and can get the licence granted, but with the political situation in the Ukraine I think that's unlikely. Viktor Yanukovych is still wanted for treason and Nikolai Zlochevsky (Burisma group's beneficiary was his minister of Ecology!

I'm confused by this, I only bought in on last week's oil discovery and this deal has nothing to do with that!

Other possibility is that they're selling one part of the business to develop said oil discovery, but I'm just speculating.
Simple00
Posts: 242
Opinion:No Opinion
Price:12.75
RE: Stuff
19 Apr '19
The guy buying it has 38 licenses!
MadChatter
Posts: 3,628
Opinion:No Opinion
Price:12.75
RE: Stuff
19 Apr '19
Hang on, so who has had the 60% since 2014?

Confused.

The new person is buying us out of that completely I think? I'm pretty certain I read somewhere they already have a production license for it.

@simple

Sounds like a long planned sale. If they bought it the same day our licence expired
mpd12
Posts: 378
Opinion:No Opinion
Price:12.75
RE: Stuff
19 Apr '19
From what I can gather it's a 100% owned subsidiary, however they had 40% of the Zagoryanska license with Eni holding the other 60%.

The ZA license expired in 2014 and Eni were not interested in renewing it so CAD (via Astroinvest-Ukraine) applied for 100% of the production licence of ZA, only to be denied by the regulators.
Simple00
Posts: 242
Opinion:No Opinion
Price:12.75
RE: Stuff
19 Apr '19
Interesting that the methane supply license expired On 17/04/19 when the sale was leaked. http://www.astroinvest-energy.com.ua/en/
Simple00
Posts: 242
Opinion:No Opinion
Price:12.75
RE: Stuff
19 Apr '19
We own it 100% I believe
MadChatter
Posts: 3,628
Opinion:No Opinion
Price:12.75
RE: Stuff
19 Apr '19
* 40% owned joint venture I meant
MadChatter
Posts: 3,628
Opinion:No Opinion
Price:12.75
RE: Stuff
19 Apr '19
Remind me, any lth, I think this is a 40% owned subsidiary? Its quite confusing between documents.

Even so, whilst there is a difference between turnover, earnings and p/e multiples, if that website is correct then its got to be worth at least £5m cash I'd say??

Decent boost here.
Fourprinces
Posts: 3,778
Premium Chat Member
Opinion:No Opinion
Price:12.75
Stuff
19 Apr '19
Can't vouch for veracity of attached but claims Astroinvest-Ukraine turned over over £14m in 2018

https://www.kompass.com/z/ua/c/astroinvest-ukraina-ltd/ua1703127/




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