Member Info for mbingo

I don't like to make predictions, but I would be very surprised if this wasn't at 180-225p range by end May if oil price remains in this area - and based on no change. The netback per barrel for 189,000 barrels in October was over 45$ per barrel from Kolguev island at Brent price of 62/barrel. 1st tanker shipment was for 240,000 barrels last year. The second tanker allowed them to reduce debt from 12m to 3.8m USD. Oil has gone up. Then, look at all their other operations. Look at the reserves at South Dagi. This is cheap at 200p.

Re-rate will happen on this stock. So cheap given the fundamentals! Brent Oil well up. More than 2000 BOPD. Dividend paying, debt at 3.8m or less. Crazy cheap market cap here! CPR due. South Dagi update. Low free float. RNS could come anytime. CPR certainly over due. No operational update since December. Looking back are RNS history, we tend to get one a month...

Brent up 3% now. Back to 64.5. Great for Urals!

Net proceeds from last tanker were US$8.5m - for 189,000 barrels only.

Take a look at the November 2017 presentation on the urals energy website. The Arcticneft subsidiary (with mere 37m barrels reserves) produces 1100-1400 barrels day. This is transported in tankers. Increased production and economics lead to them using two tankers in 2017. The Petrosakh subsidiary produces 1,000 + barrels a day currently and this is sold in local market. Hope this helps. The November presentation is helpful.

South Dagi drill updates in due course also - reserves there ain't small!

Well, there was an offer rejected at 240 a couple of years back.

And forward looking prospects should be great if oil price stays above us$50/55.

$8.5m from the 2nd shipment in 2017 of their subsidiary arcticneft, representing netback of $45.08 per barrel, a big increase on the 1st tanker on 2017. They do also have significant revenue from their Petrosakh operations, where they produce approx 1,116 barrels a day which are sold in the local market. Year end numbers should look good.

Small free float means that this will fly with volume. Look at RPT

Fundamentals should re-rate this, let alone the CPR (overdue), drill news or other operational update. Debt down from US$13m to $3.8m in October 2017. Debt servicing costs should be massively down. Dividend paying. 2000 BOPD +. Massive proven reserves - and strategy to increase production.

Risk vs reward at this price certainly in buyers favour IMO

And CPR due, which could spell a re-rate! Operations update also

Thanks for your thoughts.

Think these last two weeks are just the start of a monster re-rate..

So what is holding this back, do you think? Profitability / territory/ taxes? Costs in the last 3 months and over 2018 should be vastly down. Price of oil had a big impact on $45 net back per barrel on last tanker, it should have a bigger impact this time (with a bigger load at a higher price).

The two reported late trades from yesterday were both buys. The £40k buy at 102 was from 22 January. Additional £23k buy at 118 just reported, from 23 January.

Will be interesting to see if we get a late reported buy like yesterday. Either way, fundamentals make this a buy and CPR will make this very interesting! I'm holding all mine.

From yesterday's late trades, there is clearly a big buyer here.

And having repaid 75% of their debt further to 2nd tanker payment, the costs of servicing this debt now considerably reduced.