Itself CenGeo bought "Sibgeko" only in February, "Gazprom oil". In 2007, the license to develop Koltogorsky group sites received over $ 50 million in Sibir Energy. In 2011, control of the "Sibgeko" moved to "Gazprom oil", which consolidated the Sibir Energy. In the "Gazprom oil" refusal "Sibgeko" explained territorial remoteness Koltogorsky block from the other assets of oil companies. Source: "b" in the market said that the license for subsoil study sites Koltogorsky partially block ended at the beginning of 2011 (the other - after 2013). Therefore, according to the source "b", the very "Gazprom oil" initially did not expect to get for the asset more than $ 5 million but CenGeo immediately after purchase "Sibgeko" managed to arrange the production license of 25 years.
Reason for participating in a non-core transaction co-owner "Sibuglemet" Valentine Bukhtoyarova parties do not explain. But sources "Y" in the market say that the mine "Sibuglemet" long supply coal to the West-Siberian and Novokuznetsk metkombinaty holding Evraz, co-owned by Roman Abramovich.
Roman Abramovich himself came out of the oil business in 2005, when he sold to "Gazprom" for $ 13.1 billion, "Sibneft", later became "Gazprom oil". According to the sources "Y" close to the businessman, he sees an opportunity to return to the oil business. In particular, according to sources, "Y", close to TNK-BP, the AAR consortium suggested Abramovich to take part in the transaction for the purchase of shares in the company from BP as a financial investor, but the contract the parties have failed, resulting in the TNK-BP was acquired "Rosneft". Arkady Abramovich is engaged in investment for two years. In 2011, he was a £ 3 million has acquired 26% in Crosby Asset Management, specializing in energy investments, and then received a share in Zoltav Resources. Both of these companies are actively investing in the development of mineral resources in Australia, North and South America. Also Zoltav in September 2011 sent by $ 235 thousand for the purchase receipts of "Gazprom" and "Rosneft" and $ 156 thousand - in LUKoil.
Despite the low initial expectations, "Gazprom oil", Zoltav still got "Sibgeko" cheaper than the market price, said Valery Nesterov from Sberbank Invesment Research. According to the experts, Zoltav paid for stocks in categories C1 + C2 10 cents per barrel, whereas, for example, TNK-BP in the past six months, bought a similar license for 40-50 cents a barrel. Подробнее: http://www.kommersant.ru/doc/2150816
For a long time, ive been saying that it is A snr who is in fact behind Zol - the simplest reason is how does a 19 year get hold of tens of millions of $$$
When A snr made his billions he was an unknown figure, but now he is public, with the recent court case his background and how he made his billions has come to light. What A snr is doing is killing 2 birds with 1 stone here, recreating Sibneft again, but this time letting his Son take the credit so as he grows older, people will say his wealth is down to his company Zoltav.All transparent and aboce board:)
is it a suprise that the gentleman who owned it and who will be a large holder in zoltav supplies the coal to Evraz? (Another of A Snrs enterprises)
Arkady Abramovich went to his father's footsteps The son of Roman Abramovich buys oil fields in Russia
$ 26 million to spend Arkady Abramovich (left) Koltogorsky oilfield Photo: Photo ITAR-TASS Controlled by Roman Abramovich's son Arkady Zoltav Resources acquires Koltogorsky oil field in Khanty-Mansiysk. The deal amounted to $ 26 million with an additional $ 20 million in investment commitments. The main shareholder CenGeo, which owns the license, is co-owner of "Sibuglemet" Valentine Bukhtoyarov, who will receive in exchange for its 29.1% stake Zoltav. Independent experts believe the deal is very beneficial to Mr Abramovich.
Zoltav Resources Inc., 45% of which is owned by an investment fund 19-year old son, Arkady Abramovich ARA Capital, bought the company CenGeo, paying an additional issue of its shares for $ 26 million, according to a mandatory disclosure Zoltav on the London Stock Exchange. CenGeo owned JSC "Siberian Geological Company", which holds licenses for oil fields in the Khanty Koltogorsky block. Seller CenGeo perform Bandbear Valentine Bukhtoyarova.
As a result, the share of first additional issue ARA Capital in Zoltav reduced to 20%, as the controlling shareholder will Bandbear. But then followed by a new additional issue in favor of the ARA Capital for $ 20 million for the stake in the investment fund will restore Zoltav to 45%, while the share of Mr. Bukhtoyarova was 29.1%. The funds invest in Zoltav CenGeo. Zoltav other major shareholders are Mark Nicholas Tompkins and Simon Drake Borkman. Their share in the company for the transactions will decrease from 12% to 5.3% and from 2.5% to 1.1% respectively.
Estimated reserves of JSC "Siberian Geological Company" ("Sibgeko") is 13 million tons. Immediately after the closing of the transaction in the areas planned three-dimensional seismic survey of an area of ​​500 square meters. km, and in 2015-2016 to drill up to four appraisal wells.
we need to see the admission document - which will also contain the CPR for the oilfield before we can attribute a new mcap...
sidenote - $80m was spent doing seismics/drills etc on the fields - that will be on our books now (in the case of a future farm out, it is the norm for the partner to pay all back costs , in this case $80m:)
Following completion of the Acquisition, the Company intends to acquire up to 500 sq kms of 3D seismic data and to further appraise the oilfield, which was only flow-tested in one of the discovery wells. During the 2013/14 winter season, the Company plans to commence initial test production by re-opening well #141; and to drill up to four further appraisal wells during the 2015/16 drilling season.
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