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Any possible merger with Mr. Bosov’s Prizalivniy venture will, in the opinion of the Board, be at the expense and to the detriment of Urals Energy and its shareholders, followed by serious overall dilution and destruction of value. The recent claim made by Fire East in a letter to Urals Energy shareholders dated 10 January 2014 that Prizalivniy has been sold and thus its merger with the Company is impossible only points out to the fact that Fire East is in close contact with Mr. Bosov. The Board believes that the possibility of this merger has and still is high since it considers that Mr. Bosov would not be interested in Urals Energy otherwise.
The (now) two individuals proposed to replace the existing BOD/management, both have apparent conflicts of interest with their main jobs. In the case with Mr. Barsky he is the CEO of Pechora LNG, which is going through a difficult stage and requires all his attention to continue as a going concern. In parallel he is also the CEO of Matra Petroleum plc, which also requires a significant amount of his time in order to be successful following its recent acquisition in the United States. Mr. Barsky will no doubt be stretched and therefore will, in the opinion of the Board, not be in a position to devote sufficient time and energy to Urals Energy. As for Mr. Kolleck, in a conversation with one of Urals Energy directors, Mr. Kolleck said that “he is doing this only as a favour to Mr. Barsky”, which, in the opinion of the Board, hardly justifies the decision to enter the Board of an unknown company with difficult assets to manage.
It's also interesting that MB is doing the Q & A with UEN shareholders - a man with the demands on his time wouldn't be doing this unless he thought it was going to go through. He wouldn't waste his time. I still think there's a good chance the merge will happen
Why RMP rise today ? Now only 15% from earlier peak of 30% + .
Paris London and other places . London should be good . July 1st then irrespective of any suspension or other untoward happenings. Are you in here - thought you said were but not much . Did you read the MB uen statement Friday "CURRENTLY " no plans to merge with mta . Interesting use of word "currently" This is all assuming he gets on Uen board at EGM .
Agreed - based at London and Manchester. what bout you.....1st July is good. hopefully we will be able to afford a premium cup
I hope they do But would be weary geopolitics .Just my view Ps lets say July 1st deadline coffee bet . Where are you based ?
Look at the rmp charts....says it all. mta will do ok when they come back
Is approximate - still doing due diligence .- official Be patient chaps
False dawn - Rmp only up 15% and still down from when you made bet . Wait for this to rocket once relisted
Note that 10 Jan statement from MB on UEN said that no plans CURRENTLY to merge with Matra. "Currently" chaps
A man with a bow tie, red socks and brown brogues....Looks an idiot....
Can they NOT re list ?, and what would happen to our shares? Thanks
Is it 3 months or 6 months before they have to re-list or de-list ?
Keep up the good work . Ignore others reactions . Especially the great non pompous one
Do I bother going to the trouble of copying an pasting of the FireEast document some 11 days ago ( 9 pages back) for everyone to ignore, but yet gets attention for this same document linked today? I know I know, I'm just a nobody who doesnt know anything.........
Predicted 15p having earlier predicated 30p plus . As a predictor of sp hopeless . As one who is "never" pompous / blows his own trumpet or has memory problems a tad better .
You also practiced 15p and over when MB took over and 30 previously when two Ronnie's in charge Give it a rest .
Many thanks for that. I did say last year, when the speculation linking UEN and MTA was rife on the bb's, that there would be no link just as I said over the weekend that MTA was not buying RRL's Texan assets. If there was any substance in the speculation MTA would have had to issue RNS's. They didn't Most bb speculation always turns out to be wishful thinking on the part of posters..
Here you go Budget: http://fireeast.com/news/Fire_East_Letter_to_Shareholders_press%20release%2010%20Jan.pdf
Interesting update - where did that information come from?
There we have it from the horses mouth, no synergy between UEN & MTA from Barskiy (fire east) Response to claims of plans to acquire 'high risk' assets The Company also claimed in the Company Press Release that Fire East is planning on using the Company to acquire a high risk asset and dilute existing shareholders. The implication from the Company was that, should the Resolutions be passed, the new Board would proceed with the acquisition of the Prizalivnyj license as well as a merger transaction between the Company and Matra Petroleum plc, which in each case they claimed would result in the holdings of existing shareholders in the Company being diluted. There are no plans to acquire the Prizalivnyj license on Sakhalin Island. Whilst we do believe that a great number of synergies would have been achieved with any such acquisition (which the existing Board failed to do), this asset has now been sold to a third party and so this acquisition is no longer possible. There are no plans to merge with Matra Petroleum plc. Matra Petroleum is focused on the US market and therefore there are currently no synergies to be achieved through any such merger. For these reasons, the claims by the Company in relation to the Prizalivnyj license and Matra Petroleum are completely incorrect.
Range Rns nothing to do with Matra So false alarm
Texas deal nothing to do with Matra OFFICIAL
Anyone seen on the Uen page on advfn that Barsiky is doing a conference call on Wednesday with some P.I that run the UAG so he can answer questions about Fire East strategy for their upcoming egm? Is that not also the 15th when our phase 2 should be completed around then anyway!