Analysis is spot on. Internet is being taken over by UN tomorrow. Not known widely. Socialist rule and laws. China, officially part of the IMF reserve currencies tomorrow. Not widely known. US election rigged for Hitllery.
Zoltav Resources shares rise after maiden first-half profit
26 Sep 2016
Russian gas group reported a maiden pre-tax profit of US$1.6mln
Zoltav believes the eastern fields of its Bortovoy licence hold considerable resources Shares in Arkadiy Abramovich's Zoltav Resources Inc (LON:ZOL) soared more than a quarter after the Russian oil & gas group made its first profit.
The stock ticked up 2.5p, or 10.2%, to 27p after Zoltav reported a maiden pre-tax profit of US$1.6mln versus a loss of US$2.5mln a year ago.
Zoltav attributed the progress to good operational performance, cost-cutting and a higher gas sale price.
Arkadiy Abramovich is the son of Russian oligarch and Chelsea Football Club owner Roman Abramovich.
He is Zoltav's joint largest shareholder along with a vehicle of Russian coal magnate Valentin Bukhtoyarov called Bandbear Limited.
Pre-tax earnings before interest, depreciation and amortisation (EBITDA) more than doubled to US$6.2mln from US$2.7mln last time.
The group reported a 4.4% increase in first-half production from its Bortovoy licence in the Saratov region to nearly 1.6 billion barrels of oil equivalent.
Operating cash flow increased to US$4.8mln from US$2.9mln a year ago and borrowings fell 8%.
Chairman Marcus Rhodes said the success came despite the increased weakness of the rouble against the US dollar.
He said the company was working to better understand the feasibility and economic viability of the development options for the “considerable resource” in the eastern fields of Bortovoy.
“The board believes this strategy will not only result in our transition into an attractive and profitable junior oil company - a path on which we are already well advanced - but also position the company very well should the rouble regain strength and as the oil and gas sector continues to improve," he said.
House broker Shore Capital described the results as very robust, adding: "Local gas pricing has been strong and we remain impressed by operational delivery from this high-quality Russian operator."
Deutsche bank is a very real problem for Merkel. When media speculated that she'd bail them out recently it had to be denied just as quickly as this is contrary to her own austerity guidelines....she/EU do not allow the failing banks to be bailed out ...they refused Italy year...but no doubt it'll be done by the back door as usual. This is another good reason to be out of EU...with the awaited laws (in 2022 I think) for member states (and individuals) being jointly liable to bail out other countries banks when needed i.e. UK bailing out German/Italian/Polish banks ...not widely known in this country yet .....wonder why ?
As for the threats I tend to think Russia are a thorn in the warmongering US ????side. It's ok for US/UK et al to enter Syria illegally and bomb the hell out of it for the last 4-5 years but when it comes to helping to save a sovereign state(i.e. Russia on Syria's request) they're miffed.
Perhaps the planned pipeline across Syria will have to wait until the next president is installed.
Obama's looking for some flagship event to go out on a high...and no doubt struggling ! Perhaps he could say there's been more countries invaded during his tenure than any other US president in the past or the biggest debt than anyone else ? There's plenty of scope here but not the right kind I guess !
Anyway as for here...if the ask drops to 20p sometime I'd certainly entertain a punt of a few k. I reckon this has legs for over 50p ish now.
Great post also recommend,but the only people who could have Bought at 18/19 were mr MM as the spread then was just a wide .at the moment they they are bashing this because they have no shares ,no shares no profit no interest, Good for us as we can pick up some cheap shares .
Good balanced post. US Gov threatened to send Russian troops in body bags from Syria today, also, a veiled threat of potential terrorist attacks on Russian cities. Deutsche Bank collapse and US presidential election on Nov 8th. Turmoil. Oil up though.
I've been following it here for quite some while on and off although I currently don't invest but could've at approx. 18/19p some while ago. The substantial spread has certainly been worse ie 25%+ as opposed to the circa 10%ish today. This I can only put down to the perceived Russian risk factor and the lack of shares in circulation.
The relatively low no of shares has a 2 pronged effect in my view ....investors wanting to retain overall control of the asset(and negate potential takeover scenario) and the lack of available shares to outsiders reduces volume/liquidity...hence the sp is generally on a short leash.
Although the asset value remains strong and potential relatively high (allowing for risk) the MMs dictate the sp ..but also how well known is this share ?
What we are left with is a company generation profits,130%up on last year ,with massive assets ,if they keep making money steadily then the share price should rise as at the same pace ,nice and steady ,a rise in oil price or further production of gas should have massive upside .Let's not forget they have reduced overheads and increased profit .and are still cheap to buy as Panmure gorden see the share price of 55.00 .plus opec meet in the next few days regarding oil production,which could have a massive upside to the oil price .
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