Member Info for leedskier

all the markets are lacking direction...yesterday the Dow was buoyant and confident looking forward, today back to doom and gloom...meanwhile the FTSE looks to the US for guidance...how much further do they want the Fed to cut interest rates? there seems to be pressure for a reurn of the Greenspan 'put' when he slashed interest rates just to keep the market happy...meanwhile UK banks have discovered a new endless supply of cheap money from the ECB...neautralising the Bank of England's setting of the inter bank rate...the sooner NRK is buried the better, but will its departure from the FTSE calm the current jitters?

British banks gorge on ECB's cheap credit By Ambrose Evans-Pritchard, International Business Editor Last Updated: 12:19am BST 02/10/2007 British lenders are shunning the Bank of England and turning instead to the European Central Bank on a massive scale, taking advantage of much lower interest rates and guaranteed anonymity to weather the credit crunch. The credit crisis in full EU sources say Britain's banks have been clamouring for money in Frankfurt, accounting for a substantial chunk of the €190bn (£132bn) lent last week in the ECB's variable tender operation. "It is fair to say they have been borrowing from the ECB on a very large scale. It's cheap, so why not," said one official.

but it is recovering nicely

Dragon Oil. Sets new high of 39,600bpd; new well at LAM flows at 3,563bpd Dragon Oil released a drilling update yesterday stating that: the company achieved a new production high of 39,600bpd on September 29; development of the LAM A/122 well was on stream with a 3,563bpd initial flow rate (cumulative for all horizons); the drilling of two new wells - LAM A/123 and LAM 22/124 - has commenced. We note that the company has already reached its targeted year-end daily production level. We also note that it now appears highly probable that Dragon Oil will beat our full-year average production forecast of 30.6mbpd. The successful completion of the new well also highlights the quality of the company's assets, cementing our view of Dragon Oil as one of the most financially and operationally sound small-cap stories in the FSU. We rate Dragon Oil Buy, with a 12-month target price of $7.26.

correction that was historical news

see Aton Cap today...."The stock of British-based Dragon Oil, with an estimated upside of 299 percent, tops Aton's list. Dragon, according to Aton, has a promising asset base in Turkmenistan's section of the energy-rich Caspian Sea.Another British company, Anglo-Siberian, holds a large equity interest in the Vankor group of fields in Western Siberia. With a market capitalization of $32 million and its ticker on the London Stock Exchange, Aton estimates the company is undervalued by 215 percent

I always take time out (when posting on such boring stuff as yellow and 'black' gold to read the posts on this BB. I am saddened that once again the share holders have been suckered on a cure all range of products...all those free lunches and overseas trips to meet with people all over the world must have been very times consuming and those business class beds on BA are not all they are hyped-up to be now that everyone has to use plastic cutlery. Meanwhile infertile women will just have to hope a new IPO will come along.

apparently to do with some ruling in Ireland that the attempt to create side pockets of shares is off the agenda so there is some hope of all share holders benefitting from any recovery in the portfolio's recovery

I did email over the weekend and shared your concerns too

the filter is great...I have no NRK posts on my board

as is known I have an(maybe fatal) attraction to these Russian power plays...but have re-acquired their oil fields...(IEC apart) they now want the gold

LONDON (Thomson Financial) - Imperial Energy Corp PLC said it sees a potentially significant increase in the quantity of recoverable reserves from its Kiev-Eganskoye Field in the Tomsk region in Western Siberia after the 3D-seismic study conducted by independent seismic company Bashneftgeophysica. The new 3D seismic data shows the 11 wells drilled during Soviet times, did not even penetrate the main part of the Kiev-Eganskoye structure. The company said reinterpretation of the data from these wells, combined with the new 3D seismic results, indicate the presence of three new reservoirs not previously identified in Imperial's reserve estimations, highlighting the potential for significant increases in the quantity of recoverable reserves. The preparation for work in the Kiev-Eganskoye field continues with both pipeline construction and commencement of drilling of several wells planned to commence on schedule this winter, the group added.

ANNOUNCEMENT OF 3D SEISMIC RESULTS FROM KIEV-EGANSKOYE FIELD Imperial, the energy company, announces positive 3D seismic results from its Kiev-Eganskoye Field, Block 80, Tomsk, Western Siberia indicating a potentially significant increase in the quantity of recoverable reserves from that field. Imperial has received the results of 380 square kms of new 3D seismic acquired over its Kiev-Eganskoye Field. The seismic was performed for Imperial by the independent seismic company, Bashneftgeophysica. The data obtained allows new improved and detailed interpretations to be made showing significant differences between this new 3D seismic data and the older 2D seismic data acquired prior to Imperial obtaining the licence for Block 80. The new 3D seismic data shows that the eleven wells drilled during Soviet times, whilst providing helpful data in fact did not even penetrate the main part of the Kiev-Eganskoye structure

Sibir Energy, the Russia-focused oil and gas company and AIM's largest stock, planning to move to the official list after more than doubling profits - Saturday FT

AT Communications Group plc ("AT Communications" or the "Company") Director's Shareholding - Correction The following announcement replaces the Director/PDMR Shareholding announcement made by the Company released yesterday at 11:30 under RNS number 6172E. Following the acquisition of 330,000 shares Alex Tupman has a beneficial interest in 12,097,044 ordinary shares representing 15.7% of the Company's issued share capital. The full amended release appears below: The Company has today been informed that Alex Tupman, Chief Executive of AT Communications, today acquired 330,000 ordinary shares in the Company, representing 0.43 per cent of the Company's issued share capital at a price of 45p per share. Following the acquisition, Mr Tupman has a beneficial interest in 12,097,044 ordinary shares, representing 15.7 per cent of the company's issued share capital

Fierce competition is brewing, nonetheless, as Russian gold miners turn towards the Caucasus, and there find themselves in contest with each other. Polyus, controlled by Mikhail Prokhorov, has largely completed its inventory building of domestic gold reserves, and is looking south for lower priced values. Polymetal controlled by Suleiman Kerimov -- listed recently on the London Stock Exchange main board, but at the bottom of the price target range -- is weighing the pros and cons of three growth options: intensive exploration of undeveloped Russian prospects; a takeover of a vulnerable miner (Highland Gold); and a move south, like Polyus.

RNS Number:6532E JSC Polymetal 27 September 2007 A Price Monitoring Extension has been activated in this security. A Price Monitoring Extension is activated when the auction matching process would result in an auction price that is a pre-determined percentage above or below the base price. The auction call period is extended for 5 minutes. For details of how base prices are set for each market, please refer to the Guide to Trading Service at www.londonstockexchange.com

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I posted quite a lot about this one on Saturday...after 3 hours research...there is one problem with it...it has failed to comply with the limits of an exploration licence on one potentially large site (it is seeking an exstension) ...Severstal may just wait for the licence to expire...

credit is being reigned in; there have been lending at high interest rates there...the sub prime situation in the US has shaken confidence...many large banks were initially funded by the oil boom but as Nationalisation (in practise if not name) has occurred and high taxes imposed, profits/income has fallen, notwithstanding the soaring price of oil...this bank is not alone in Russia in finding profits falling...