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And rarely at 7am as well!
Operational updates rarely occur at 7pm. More likely 11am or 2pm or after hours for some reason?
Yes now is time to buy,one thing is sure,CAD won't give anything away,in more ways than one.
Its not confirmation until its been rns'd. Use it as a chance to get some "cheap"...imo
Just not an RNS
Well,if it isn't a great week here,then the market is blown to dust,and electronic markets are rubbish, fingers crossed.
Could be a very good week indeed....
Zlochevsky buys another gas company The Cyprus company Burisma Holdings Limited, the beneficiary of which is the ex-minister of ecology Nikolai Zlochevsky, received permission from the Antimonopoly Committee to purchase a controlling stake in Astroinvest-Ukraine LLC (Poltava). Astroinvest-Ukraine is engaged in the supply of gas and belongs to the British ... 04/22/2019 111 Views The Cyprus company Burisma Holdings Limited, the beneficiary of which is the ex-minister of ecology Nikolai Zlochevsky, received permission from the Antimonopoly Committee to purchase a controlling stake in Astroinvest-Ukraine LLC (Poltava). Astroinvest-Ukraine supplies gas and is owned by the British company Cadogan Petroleum, whose shares are traded on the London Stock Exchange. 99.99% of the registered capital is registered by Cadogan Pirkovskoe (Netherlands), 0.01% - by Cadogan Ukraine. Astroinvest-Ukraine has no valid special permits for hydrocarbon production. Earlier it was reported that Zlochevsky reissued the rights to land plots bought by its structures around the berth N38 in the seaport “Yuzhny”. In addition, a recent case against Zlochevsky, which was investigated by the National Anti-Corruption Bureau, was closed by the Specialized Anti-Corruption Prosecutor's Office.
Financials, production increasing 50/60% and cash balance $40m plus
What numbers we expecting?
Either way should be a good week. Asset sale is a nice bonus possibly depending on terms but the numbers we’re expecting should take it to 20+
Info about the size of field is here. http://www.cadoganpetroleum.com/operations.aspx
Is there any notes about this drill ie what they were expecting to encounter ... size of field. I've search but to no avail
Blazh-10 well has encountered 207 meters of the Yamna target formation, at a depth 50 meters higher than prognosis and in the predicted sub vertical setting.
Cores taken from the upper part of the Yamna and a preliminary interpretation of the open hole logs suggest that the entire Yamna section could potentially be oil bearing. The well is being conditioned to run and cement a 7” casing, which will be followed by well testing. Full log interpretation and testing results will determine the net pay and the expected deliverability of the well. Further updates will be provided in due course.
The Blazh-10 well is in the west of Ukraine on the Monastyretska licence. Completely unrelated to Astroinvest-Ukraine.
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.
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
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.
This will open up at 17p at start of play on Tuesday
I wouldn’t rush to that conclusion. I think cautious optimism is needed
Mega buy
For this to move up like an RPT it needs to be throwing off cash. CAD has cash but doesn't rapidly grow it
Hopefully a storming rns for you all on Tuesday
I hope it does an rpt too. Looks like it has the potential too but it depends on how the rns characterises the alleged sale and updates on other news