Member Info for leedskier

+ 2% and on and upwards

+ 1.71%

sale of typhoons to Saudi Arabia

2 trades totalling 560K this morning

I am not making any recommendations but I do not think the sp will get any cheaper than today's opening...watch me be proved wrong :)))

I wonder what the level 2 position is?

I will not say why; but I just received a wink that something was happening. Peter Levine is highly regarded by the Regional Administration. This maybe to do with Mitvol concerns about gas being burnt off by oil producers. It could and should give rise to confidence in IEC maintaining its licenses. The question is whether (in current climate) it will be reflected in the sp.

should have bought Falkland Oil...)))

it may relate to taxation on crude exports...Russia is determined to turn oil into gold (reserves)

Sept. 12 (Bloomberg) -- Crude oil rose to a record $80.18 a barrel in New York after supplies dropped the most this year. This must have some impact on the PEG?!?! Maybe????

Sept. 12 (Bloomberg) -- OAO Lukoil, Russia's second-largest oil producer, said profit rose 8.4 percent to a record as rising crude prices outpaced export taxes. Second-quarter net income was $2.52 billion, or $3.03 a share, from $2.32 billion, or $2.80, in the year-earlier period, Moscow-based Lukoil said today in a statement. That beat the $2.45 billion median estimate of 10 analysts surveyed by Bloomberg News. ``Lukoil is probably the best Russian stock to own'' for investors who are bullish on oil prices, said Igor Kurinnyy, an oil and gas analyst at ING Groep NV in London.

Peter Levine's demonstration of confidence leaves the market unmoved. Meanwhile I see Mitvol received a very critical reception in the USA, when trying to encourage inward investment into a hostile natural resources climate of his own making. Kommersant carries the story.

Davius I think some when IEC mised the 250 date, I suggested IEC would try to keep its head down and get on with producing oil. In Russia too public a profile is not helpful (unless one is VVP; see Russneft; while I agree with you that the SP should reflect the tremendous work completed by IEC, the level of profitability of crude (when exported from Russia) is rather modest. Either IEC will have to sell locally (at market rates of 20$) or pay rather high export duties. Meanwhile Mitvol et al remain a thorn...another isue is rather a large proportion of the shares now seem to be in the hands of a few instituitions. I guess they will not be selling any day soon.

Madjock I have been away from a computer for a few days; where is the source for the Mitvol 'retraction' over regulation infringment; incidentally he has recently been ordered to pay nominal damages by a Moscow Court for defaming a Regional Governor in a news paper article.

None given, but I wondered myself. I am not surprised about the volatility, but would be amazed if it related to any contributions of mine. The whole Russian oil thing is a mixed-up mess. (1) there is pressure on smaller producers to sell to refineries in Russia (no doubt a cunning way to force smaller producers to merge) by a new tax hike on crude exports; (3) Mitol (either with or without Kremlin support) is still on a mission/crusade (with a sale of £1 million + in 3 tranche of shares) before the guardian article); (4) There is concern in Russia about falling revenues because of the actual or feared fall in oil prices; (5) Moscow Times report today of outflow of foreign currency related to the carry trade (Russian interest rates being quite high)and of the need for intervention to support the ruble. (6) The politics in Russia are still firmly on the radar as the Presidential election gets closer. The treatment of Russnefts's founding CEO is a clear example -- there is now an arrest warrant for him. Meanwhile no word from Peter Levine about oil flows...or the referral of complaints to the FSA in London by him and Mitvol.

RNS:PRICE TARGET (In pence) BowLeven (BLVN.L: Quote, Profile, Research) 335 Burren Energy (BUR.L: Quote, Profile, Research) 1075 Cairn Energy (CNE.L: Quote, Profile, Research) 2310 Tullow Oil (TLW.L: Quote, Profile, Research) 600 Venture Production (VPC.L: Quote, Profile, Research) 810 Dana Petroleum (DNX.L: Quote, Profile, Research) 1025 Imperial Energy (IEC.L: Quote, Profile, Research) 1400 Premier Oil (PMO.L: Quote, Profile, Research) 1215 (Reporting by Aniruddha Basu in Bangalore)

according the Shares Telegraph 3 tranches of shares exceeding in total £1.2 million were sold Friday. Nice profit if one can buy them cheaper tomorrow...

Moscow Times: The country's free crude oil market amounts to around 2.8 to 3.5 million tons per month, with firms that have excess refining capacity seeking to buy crude from companies with excess production.The sellers typically include Surgutneftegaz and No.3 oil firm TNK-BP, while buyers are represented by the independent Bashkir group of refineries and the Moscow refinery.Pricing details of the Rosneft-Surgutneftegaz deal were not available, but traders said first deals on the free crude oil market for September delivery showed prices declined by 15 percent from the previous month to 6,950-7,200 rubles ($269-$278.6) per ton at West Siberian wellheads. Rosneft bought crude as global prices fell while export duties, which are revised only once every two months, remain high, making crude oil export operations less profitable than domestic refining and subsequent exports of refined products.

Aug. 18 (Bloomberg) -- The Federal Reserve reduced the interest rate it charges banks and acknowledged for the first time that an extraordinary policy shift is needed to contain the subprime-mortgage collapse that began roiling the world's financial markets two months ago. The Fed, in a surprise announcement in Washington, cut the so-called discount rate yesterday by 0.5 percentage point, to 5.75 percent

SkyTV report Fed are to cut interest rates...