Another pointless monthly production report demonstrating natural well decline. Do the Russians actually think by providing a consistent monthly issue of meaningless information they can make investors feel informed? Maybe they think they are creating the illusion of an active board working hard to push the company forward.
We don't care
It is obvious the board has no interest in whether people invest in Exi or not. They show no regard for the reputation of the company nor the view of the market. They are very happy for this company to slowly become invisible. The half year report will be a master class in minimalism.
4 Aug '14
4 Aug '14
RE: SP rising
Maybe the continuation of the steady climb from 140 over the last few months. Still low volumes so I wouldnt read anything into it. Without an offer for the company on the table it will be interesting to see how the market values EXI, that is what it will stabilise at - 170p 180p ??? The clock is ticking for the board, three weeks left before they are mandated to provided some details on the company, as much they dislike doing this. Maybe we should request that exi has it's name changed to 'Exillon Energy?'
4 Aug '14
On way up today? Anyone heard anything?
3 Aug '14
Forced to provide some information
This month EXI will be forced to provide the H1 results, of course without any drilling, it is simple booking keeping to be reported. Reserves update should also be revealed this month. One must assume that both major shareholders are working together otherwise the silence would not have been sustained for so long. The pension funds appear to have no real interest in rocking the boat. Gazprom bank will want their money back at some point. My prediction is that the silence will continue with no more than is legally required being reported. I expect no drilling this year and would be surprised at any mention of 2015 drilling campaigns. I would then expect a randomly announced takeover sometime this year that will be significantly below the 375p Khotin payed. With a good reserves upgrade he might offer 280p. A very low offers seems pointless because Lukoil or similar could easily offer slightly more and start a bidding problem. I think a price that his board can accept without generating problems through minority shareholder rights is what will be offered. This may well be 240p. Of course this values all the reserves at non producing levels and rights off money spent on infrastructure. But this is Russia and reputations for honesty and integrity mean very little.
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