Member Info for Krok

Are you kidding me? Who owns Fevamotinico S.a.r.l?

Didnt know though he was down to 49.5%

Yes, that very Zhivago who is still a controlling shareholder

Who will have to approve an issuance of new shares

There is always a choice - bank financing, bonds, hedging prepayments, prepayments from customers, etc

But I agree there will be no need for that. Given the devaluation if Hryvna, FXPO should be having decent margins now. On top of that, I reckon they have some flexibility on how much to spend on capex

So expect they will report a positive FCF in 1H23

Issuing new equity is impossible, that would dilute Zhivago’s stake below 50%. He would never agree

There is little hope for a victory for either side in the short-term. It will most likely lasts for years

Those hoping Russia will lose and retreat somehow better start thinking about excuses why that won’t have happened

Pacman, I have been here for several years. You can check how deeply I understand the situation in Ukraine in the ENW thread, long before the war started

If you truly believe Crimea will return to Ukraine, my advice would be to stop commenting on the situation altogether. As you then have a zero understanding

No offense

Suggest we stick to company’s fundamentals instead

For the record, I have accumulated a long position of 50k shares and thinking about increasing it further

You are as brainwashed as many Russians are. Same low-quality propaganda, just different angle

You no clue what’s actually going on in Russia. This is just a preposterous bulsh@t

I wonder what impact can the demolition of the Kakhovskaya Dam have on the company’s logistics? Any ideas?

Thanks, Evanescent

1Q23 production more than doubled compared to 4Q22 and was at the level of 3Q22. The share price more than halved since 3Q22

Any ideas what numbers they can report?

For those who have followed the stock for a while, what positive news can move the FXPO price upward in the next few months?

Russia will not lose this war, just impossible, even in theory

One needs to be really dumb to believe this nonsense

That said, this war can and will continue for several more years, until the West gets tired with it and stops sending weapons and finance otherwise devastated economy. And this will happen sooner than Russia changes its mind, no doubt about it

The war will then be over within weeks

Remaining as an independent state and losing only a few regions is a pretty favorable outcome for Ukraine eventually

I have invested in a number UKR stocks in the course of the last 10 years. My largest investments have been in gas stocks, particularly, in ENW and previously in JKX

I am now out of all of them, out of ENW most recently, once they announced a 15p divi

Thinking about building a sizeable stake in FXPO

Apart from obvious war related risks, I clearly see the risks of assets been taken by the Government (or by somebody closer to the authorities than the existing major shareholder)

See what happened to ENW - several licenses been revoked, personal sanctions against the majority shareholder, assets frozen, etc

How feasible are these risks for FXPO?

Most of Novinskiy’s assets in Ukraine have by now been lost - Azovstal in Mariupol completely destroyed, most of the shopping malls across the country destroyed by Russian strikes, etc

Taking over the gas business will be the last straw

Novinskiy is a Russia-born, Russian citizen, who openly supports the Russian Orthodox Church

He wouldn’t survive in the current Ukrainian environment, in my view

Finally out of this sh@t, with a reasonable profit. Waited way too long

Can’t see any meaningful future here. Assets eventually will be lost. Share suspension can easily last for many months, if not years

Total cash + receivables should be $120 mn by now. The question is on their location (in/out of ENW and jurisdictions)

For Novinsky, ENW is a minor asset in his diversified holding beyond Smart Energy, so apparently he has plenty of other issues to resolve

Another relevant thing is whether they have been able to transfer cash held in Ukraine to the UK. Wouldn’t be easy, given currency transfer restrictions

The business is pretty much lost, it’s just a matter of time before it is nationalised. Whether the stock is delisted as a result from AIM remains to be seen

This well will not produce any time soon. They will need to build all the infrastructure at the SC field for that

So far they only spent $15-20 mn on the well…

I reckon by now Smart Energy has accumulated $50-60 mn, which belong to Enwell

If they had made an offer at, say, 40 pence to take the company private, it would have cost them less than half of Enwell’s money they keep retaining. Most minorities would have been happy, given the circumstances

Instead, they continue scr@wing the miserable minority shareholders, while their methods are more and more infamous

$5 mn per 6 months is $10 mn per annum. That would be a mora than 10% yield, if paid out as divi