Member Info for leedskier

Under threat of license revocation again. Rosprirodnadzor, an agency under the Natural Resources Ministry that oversees mineral extraction licenses, has recommended revoking mineral extraction rights for Verkhneomrinskaya Neft, a subsidiary of Urals Energy (UEN – Buy), Interfax reported yesterday. The agency accuses the subsidiary of not producing crude, as required by the license, among other violations. We believe the news may have a negative impact on Urals Energy shares.

FTSE 100 breaches 6200.

Dow down 148 points. Bloomberg acrries all the reasons. Sub-prime mortgage bank may fail.

At 10.30 today, mt technical advisor (by telephone) told me the market had not yet reached the bottom of the FTSE100 correction and that 6200 would be breached, falling to maybe 5750. I said the market is rising today. Forget it he said. they are playing. Sure enough the Dow has collasped tonight. Tomorrow will maybe flat at best with real pain to come on Friday.

When the figures of the estimated reserves were released, and Mitvol discovered that they substantially exceeded the old USSR figures showing on the 'file' he was very angry that once again a Western Co. had raided the cookie jar. There were articles appearing in Russian Newspapers sayung he was angry that the license had been granted. All that followed as been to cancel the license. He does not have the power to cancel. The Regional Governor supports IEC and the Ministry with responsiblity to grant/cancel licenses ducked the issue. So Mitvol's next line of attack was to complain to the FSA & LSE. NO doubt any finding of 'infaltion' in London would justify cancelling the license. Meanwhile Mitvol has screwed the share price. I guess he hopes the pressure will persuade IEC to sell to a Russian/Russian company. With a low share price it would be cheap. I doubt the Chairman will be bounced into that.

I have rechecked the Citywire article...the sp has dropped 131 points since. I do not claim expertise but one bets in multiples of £10 a point for a modest deposit. It can be easily seen how some could have made a cool profit...in just 10 days

I wonder what % of these shares are now owned by just a handful of investors...? Another big buy has gone through.

With all due respect when I rad that tip/hint last night I checked every soucre and drew a blank. Au contraire the Mitvol net has widened to a US oil company now. Peter Levine is to wise to leak titbits like that. Furhter since the papers are now with the FSA and LSE and Russia is mounting a new campaign to extradite B.B. over a French villa he allegedly acquired inproperly 10 years ago, I would be a bit surprised if there is a letter being drafted in Moscow saying it has all been a terrible mistake. In any event, if the papers are now in London, the toothpaste cannot so easily be pushed back into the tube in an area of public law (as opposed to private law).

July 30 (Bloomberg) -- Russian billionaire Mikhail Gutseriev said he's selling out of OAO Russneft because of attacks on the company and management by tax and law enforcement agencies. ``I was advised to leave the oil business `on good terms.' I refused,'' Gutseriev said in a letter to Russneft's employees published today by Vedomosti newspaper. ``Then to make me more amenable the company was subjected to unprecedented hounding.'' Russneft spokesman Eduard Sarkisov confirmed in a telephone interview in Moscow that Gutseriev wrote the letter. Russneft's shares have been frozen since June as the government claimed the company owed back taxes and sought control of the stock. The tax authorities, prosecutors and Interior Ministry officials have been investigating the company and management for two years, said Gutseriev, who was accused of ``illegal entrepreneurship'' in May. The story is that he was once in favour, but upset someone, the new owner is close to Putin.

On Saturday 21st of July (when the sp was quite a bit higher)I posted part of a Citywire article written by This report was written by Graeme Dickson, an equities trading specialist (graemedick50n@hotmail.com). He had suggested selling IEC short with a target of 940p. I guess he got right.

Part of an article written back in April 2007 on a Russian website includes 'Steven Dashevsky, an analyst at Aton brokerage, speculated that the stock was sold short ahead of Mitvol's statements, MT continues. Mitvol dismissed the idea that he was going after the company for personal financial gain, however. "Imperial Energy is one of the real success stories of international investment in the Russian oil and gas sector,"

Oil prices up; Dow down (again) losing 3.77% in 2 days...surprising statistic is that the USA consumes 24% of all oil produced...how far will the high cost of oil (together with the junk bond bubble imploding) take the Dow down? Presumeably if it does continue to drop the FTSE will follow it down.

Madjock; Mitvol is on a crusade to restore Russian resources to the 'rightful owners' ) Meanwhile another £550K+ buys in late trading. IEC could soon be a private members club. Meanwhile the US slide continues.

DOW lifts...but the Daily Telegraph website reads 'FTSE 100 has worse day since 2002 and shares in the US and Europe tumble as fears of a credit crunch rattles investors'

Thnx; it has dipped a bit further still...411 now. London has wanted this for quite a while, but of course the Dow (until tonight) has refused to die quietly. All the talk of 'stocks being over valued' and 'no bargains about' has come out of the city for a while. The problem is that the delay means it is now linked to stagnation in house with spin of gloom for the reatils ector, high interest rates and the control of inflation still in doubt...this maybe more than just a 10% correction...I recall 6 years ago all to well...one of my pension funds was virtually wiped out...shall we spec on 25%?

Madjock you are a cynic...))

Madjock it could be an unlisted company which buys shares on behalf of another so as to avoid full disclosure of the real owner...

correction: it was in Yorkshire Post interview on the record by the Chairman 'He won't be drawn on whether, as Imperial grows, it might become an acquisition target for a Russian company or Western oil major. But Imperial has an enviable focus that makes it attractive. Western Siberia is Russia's oil leader and Tomsk is the second most important region there. In that region Imperial is number two only to the oil giant Rosneft.'

in the Moscow News story which was only attributed to a source close to IEC...the question about take over offers was raised...it was not dismissed but as I recall...simply avoided...

my technical advisor told me to move to cash 3 weeks ago, I reluctantly followed his advice wondering why at the time...meanwhile the market makers are certainly gathering shares cheaply to fill large orders...another big one has gone through