RE: Kononov28 Dec 2018 21:55
$40-50m turnover this year and profitable, 300k barrels sold at arcticneft at avg $71 per barrel this year (when combining and averaging price out the two shipments, if memory serves me right, have my notes back at the office) .
Your Worried about $5m in loans?
could just fire sell arcticneft and the other businesses on the west side of Russia for $15-25m or list them as a separate stock listing.
That could maybe Pay off all loans, debt and financing for UEN and leave Petrosakh profitable and paying dividends.
$5m in loans for control of the port, come back in two years and see if they are paid back and the deal is profitable.
If the port shut down went in to admin or was taken over by a different party who wanted to control who can use it would make the whole island would suffer, it’s worth it in brownie points with the local government alone.
Yes the share price and Mcap is very low, Mr K has lost more money than anyone else, when K has renewed and secured the banking facilities it will improve. If the current board did that over the last few months they may have saved their jobs or atleast got a bit of extra support.