Urals Energy (WKN: A0F5HS)

Shareholder Q&A February 2013

Q. There are a number of holders that are not happy with the current board but the majority are supportive of them but need to know that Urals Energy is now a growth story and how the board intends to put that strategy in place?

A. There are plans to drill two new wells at Petrosakh and one new well at ArcticNeft in 2013. At ArcticNeft the Company has entered into a contract to carry out a passive seismic study for the identification of potential hydrocarbon pools with Geodynamics Worldwide Srl. The technology will be utilised with the aim of increasing the efficiency of drilling via detailed interpretation of hydrocarbons within a specific area.  Possible additional wells maybe drilled in the future, based on success of the planned 2013 drilling programme.  The aim of further drilling is to increase production at both sites.

In addition and as mentioned in the update on strategy and trading announcement on 7 February 2013, the Board are also looking at ways of utilising the upside potential in downstream and marketing opportunities at the Company’s existing assets; and, evaluating possible acquisitions and joint venture targets.
Q. I was dismayed to read that having spent so much time and effort in clearing debt the Company is now talking about acquisitions and potentially increasing the equity. Surely in the short term the Company should be focusing on exploiting the existing resources and generating positive cash flows to improve the share price and strengthen the current assets on the balance sheet?

A. The management team are currently working on maximising the existing assets and are looking to increase output through the 2013 drilling programme, which in turn will have a positive effect on cash flow.

Whilst there are currently no specific targets for an acquisition, if and when targets are found, the Board will look to structure the deal to leverage off its existing assets so far as possible (although there can be no guarantee on whether any acquisitions will in fact be completed and how any such acquisitions will be funded).
Q. The market capitalisation of the Company is low compared to others in the sector, how does the Board propose to increase this to give shareholders true value?

A. The Board shares the frustration of its shareholders and there are of course a number of macro economic factors that effect the market capitalisation of the Company. The Board are committed to making sure the market understands the turnaround story and that now the legacy issues are over the foundations for growth are in place. The Board has announced its 2013 drilling programme and looks forward to updating the market on the success of this later in the year. In time the Board fully expects a full re-rating of the business.
Q. We would like to know why the recent independent valuation of Petrosakh asset was never made public?

A. As part of the agreement with Petraco, following the repayment by Urals Energy after the Taas loan assignment, Petraco was required to release one of Company’s assets.  Although one was formally required, the Urals Energy Board convinced Petraco to waive the valuations requirement resulting in a significant cost saving to the Company.
Q. Are the present management invested in the company, if so at what price?

A. Andrew Shrager, Non Executive Chairman, currently holds 0.0207% of the issued shared capital. 75,000 of his shares were purchased at the float price of £2.40 and on the 24th of January 2013, 450,000 shares were bought at 6.5p per share.

Alexei Maximov, Chief Executive, currently holds 1.92% of the issued share capital, 439,000 shares were bought at the float price of £2.40, but he has been receiving shares since 2011 as granted stock options since joining the Board in 2009.

Leonid Y. Dyachenko, Executive Director, currently holds 2.33% of the issued share capital, the majority of his stock was bought at the float price of £2.40, but he has been receiving shares since 2006 as granted stock options.

Aleksey V. Ogarev, Executive Director, currently holds 1.40% of the issued share capital, the majority of his stock was bought at the float price of £2.40, but he has been receiving shares since 2006 as granted stock options.

Urals Energy Public Company Limited (“Urals Energy” or the “Company”)
Loan from Petraco Oil Company Limited (“Petraco”)

Urals Energy PCL (AIM:UEN), the independent exploration and production company with operations in Russia, announces that it has entered into a short-term loan agreement with Petraco under which Petraco will advance the sum up to US$7.0 million to the Company (the “Loan”).

The key terms of the Loan are that:
it is repayable immediately following the loading of the next tanker shipment, scheduled for Autumn 2013 or 30 November 2013 (whichever is earlier);

interest is chargeable at the rate of 5% over LIBOR until the date of the bill of lading of the tanker at which point it reduces to 2% over LIBOR; and

it is included in Petraco’s existing security over CJSC Arcticneft, further details of which appear in the Company’s announcement dated 12 April 2010.
The proceeds of the Loan will be used by the Company to both progress its 2013 drilling plan and working capital financing.

Related party transaction
In view of the fact that Ingeborg Srenger is a director of both Urals and Petraco and the control she exercises over Petraco, the Loan is considered to be a related party transaction pursuant to Rule 13 of the AIM Rules for Companies. The Company's directors (with the exception of Ingeborg Srenger), having consulted with the Company's nominated adviser, Allenby Capital Limited, consider that the terms of the transaction are fair and reasonable insofar as the Company's shareholders are concerned.


===========

Urals Energy Public Company Limited (“Urals Energy” or the “Company”)
Financial Results for the year ended 31 December 2012

Urals Energy PCL (AIM:UEN), the independent exploration and production company with operations in Russia, is pleased to announce its audited financial results for the year ended 31 December 2012.

Highlights

Operational
Total production at Arcticneft reached 250,394 barrels (2011: 254,445 barrels).

Total production at Petrosakh reached 487,810 barrels (2011: 505,267 barrels).

Current daily production at Arcticneft is 705 BOPD - slightly higher than an average of 686 BOPD for the twelve months ended 31 December 2012.

Current daily level of production at Petrosakh is 1,360 BOPD compared with an average of 1,336 BOPD for the twelve months ended 31 December 2012.

The license for the Okruzhnoye field was renewed until 2037.

Well #41 at Petrosakh was put into operation, the current level of production is stable at 150 BOPD.

In November 2012 the Company successfully completed the shipment of 231,594 bbls of crude oil from Arcticneft, representing a 1.8% increase on 227,525 bbls in 2011, loaded and exported in accordance with the Company’s operational plans.

Measures to halt natural decline at Petrosakh have stabilised production including the completion of successful workovers.

New well drilling and existing well optimisation programmes in place and being implemented.

Board strengthened with the appointment of new directors.
Financial
In 2012 gross profit improved by 97% to US$8.8 million from US$4.5 million in 2011, as a result the Company achieved a net profit of US$2.6 million for the period, compared with a US$24.7 million loss in 2011.

Net working capital position improved by 71% due to a net reduction of US$4 million in current liabilities to US$22.2 million (2011: US$26.2 million) .

Successful implementation of cost reduction programme resulted in 16% and 6% decrease in selling, general and administrative expenses and cost of sales respectively.

Significant improvement in net cash generated from operating activities allowed the Company to pay the final loan principal amount of US$7.3 million to Petraco Oil Company Limited and finish 2012 with a net cash position of US$3.4 million (2011: net debt US$1.0 million). The Company anticipates the release of Arkticneft from Petraco after the scheduled final payment in time of November-December 2013.

Arbitration with V. Rovneiko. On 9 January 2013 the Company received a final decision regarding its legal dispute with Vyatcheslav Rovneiko, which has brought to a close the lengthy process in the London Court of International Arbitration (“LCIA”). As a result UEN has won on all accounts and has been awarded a total amount of US$7.5 million (including loan amount, interest and legal costs) plus daily accumulating interest. To date Mr. Rovneiko has shown no intent to comply with the decision of the LCIA, which has resulted in the Company reviewing its options in relation to collection.
Post-period end and outlook
The plan for further drilling of 8 new wells in the Southern part of the Okruzhnoye field was submitted to the General Directorate of State Expertise of the Russian Federation. The approval procedures are now at their final stage. The Company expects to receive the approval shortly, whereupon the drilling of well #53 will commence.

In April 2013 the Company finalised all customs and visa formalities, delivery of equipment and other preparation for a passive seismic study aimed at detailed interpretation of hydrocarbons within a specific area of Arcticneft. The study entered into its active stage on the 27 May and the Company expects to receive the interpreted results at the end of Summer/ early Autumn 2013.

Implementing new well drilling and existing well optimisation programmes for 2013.

Identifying upside potential in downstream and marketing opportunities on the existing acreage.

Actively seeking possible M&A and joint venture targets with a view to expanding and optimising the Company’s asset portfolio.

Alexei Maximov, Chief Executive, commented:
“I am pleased to report on what has been a positive period for Urals Energy, not only operationally but also in terms of further strengthening the Company’s balance sheet. I reported this time last year that operationally we have been laying the foundations for maximising production from both Arcticneft and Petrosakh, and, with the various measures we have taken to stabilise production at Petrosakh, the completion and entry into production of Well #41 at Petrosakh and the implementation of new well drilling and existing well optimisation programmes, the Company has certainly started to build upon those foundations.

“The release of Petraco’s charge over Petrosakh was a pivotal point in Urals Energy’s recovery and for the first time in many years we are now close to a time where the Company will be free of all major debtors and able to fully leverage its existing asset base. This will enable us to proceed with our plans to increase production at both of our assets as well as dedicate time to our M&A strategy.
“We are also pleased to have strengthened the Board with three new non-executive directors who are actively assisting management and have taken on active roles in the Audit and Remuneration committees, as well as pursuing new ways to grow the Company.

“We believe that shareholders can now view the future with renewed confidence as the board anticipates the completion of the final year of recovery for the Company and the start of what it expects to be a key period of development and expansion for Urals Energy.”


http://www.uralsenergy.com/pdfs/...ts_6%20June%202013_Final%20RNS.pdf

Urals Energy Public Company Limited (“Urals Energy” or the “Company”)
Passive Seismic Survey at Articneft

Urals Energy PCL (AIM:UEN), the independent exploration and production company with operations in Russia, announces that a two part Passive Seismic survey has been completed for Articneft on the island of Kolguev by GeoDynamics Worldwide srl, and the Company expects to receive the full results in late August / early September.

A Passive Seismic Spectroscopy survey was carried out over the West block, measuring 40 data points at 1000m spacing, and over the East block, measuring 12 data points at a reduced spacing, both for 180 minutes recording time. Conditions were difficult due to the presence of melting snow which affected both access to points as well as coupling of the seismometers to the ground.

Separately a Passive Micro-Seismic survey was carried out over a selected area in the West block, applying 10 measurement stations for seven days. The field operations were completed in 30 days.

The results of the Spectroscopy survey will generate a hydrocarbon distribution map of the two blocks, whereas the micro-seismic will aim at locating the hypocenters of microtremors which will be a complimentary tool for upgrading the structural model of the subsurface of the West block.

Commenting on the passive seismic survey, Alexei Maximov, Chief Executive Officer of Urals Energy, said:
“Whilst the conditions were challenging, we are pleased that the survey conducted by Geodynamics has now been completed successfully at Articneft and once we are in receipt of the full data we will make a further update to the market. At Petrosakh, the drilling programme continues to proceed according to plan, further information will be released once drilling is finished and actual flow rate has been confirmed.”

“On 24 July, we were notified that Sberbank Capital hold a 7.4% position in the Company and we are delighted to have the largest bank in Russia on our list of shareholders.”

Maxim Barsky in spotlight over attempt to oust Urals Energy board - FT.com
www.ft.com/intl/cms/s/0/...-11e3-8ef6-00144feab7de.html#axzz2ij62GFoK

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The company has
lost most of its
assets.The company
needs to develop assets
– if you can’t develop it
[an asset], sell it
- Maxim Barsky


Week in review, October 5
Cross-border counsel
September 25, 2013 4:56 pm Maxim Barsky in spotlight over attempt to oust
Urals Energy board
By Michael Kavanagh
Maxim Barsky, former deputy chief executive and heir apparent of defunct Russian oil group
TNK-BP, has emerged as the figurehead for an attempt to oust the board of Aim-quoted Urals
Energy.
Shareholders controlling just under 31 per cent of the oil producer and refiner have demanded an
extraordinary meeting in the next month to elect a new board charged with turning round the
company's fortunes.
Alpcot Capital Management, a specialist investor in eastern Europe, alongside fellow shareholder Fire East Corporation, is calling for the
installation of Mr Barsky as chairman, along with the election of TNK-BP’s former chief oil trader Jonathan Kollek and existing Urals board
member Torbjörn Ranta as directors of a slimmed down board.
In a joint statement on Wednesday, the leading shareholders said all three of the proposed directors “have a proven longstanding track
record of successful operation of oil companies in Russia”.
The shareholder revolt, if successful, would see existing chairman Andrew Shrager removed from the board, along with chief executive
Alexei Maximov and remaining directors Leonid Dyachenko, Aleksey Ogarev, Ingeborg Srenger and Stephen Buscher.
Urals Energy was set up in Cyprus in 2003 with an initial investment of $80m made by founding investors who had worked together in
accumulating oil and gas assets. It was eventually sold to Russian oil group Lukoil.
The company raised a further £64m at 240p a share when it floated on Aim, London’s junior market, in 2005 in an IPO that valued Urals’
equity at £198m. However, its shares have generally traded at below 10p since 2009 as the company’s operations have contracted to
licences held in the Barents Sea and Sakhalin Island off eastern Siberia’s coast where Urals also operates a refining business.
On Wednesday shares stood at 6.9p, valuing its equity at just £17m.
Urals confirmed it had received a request to hold an EGM to consider the removal of all but one of its existing board but indicated that it
would decline to comment further until the release of interim results later this week.
Mr Barsky said he accepted that conditions in Russia were not conducive to expansive dealmaking by smaller
operators because of the high costs demanded for assets and constraints on raising equity.
Matra, which emerged last year as Mr Barsky’s own Aim-quoted vehicle, has itself failed to strike deals in the
former Soviet Union and was now concentrating its efforts on securing depleted US oilfields ripe for
redevelopment, he said.
However Mr Barsky, once groomed by BP to take command of its Russian joint venture TNK-BP, said Urals
had failed to deliver value while absorbing excessive salary and central office costs.
“The company has lost most of its assets,” Mr Barsky said. “The company needs to develop assets – if you can’t develop it [an asset], sell
it.”

Urals Energy is pleased to announce the following update on its operations at Petrosakh and Articneft assets as well as the Board's preliminary findings on the Alleged Debt Repayment Agreement.

Petrosakh

As outlined in the Circular posted to shareholders on 14 October 2013, the Company is pleased to report that drilling at Well #53 in the Petrosakh field has now been completed and it is currently undergoing preparation for production. Flow rates for Well #53 will be released once they have been established.

Articneft

The planned annual tanker shipment for export from Kolguyev Island is now underway. Weather permitting loading should be concluded by 10 November 2013 at which time the Company will announce the volume and value of the shipment. The shipment of this tanker ties in with the payment date for the remaining interest payment outstanding to Petraco Oil Company Limited which totals approximately US$3.0 million together with US$5.7 million repayable under the short term loan received from Petraco earlier this year. This remaining indebtedness is anticipated to be settled before the end of 2013 at which point the Company will be entirely debt free.

http://www.scandoil.com/moxie-bm2/news/...on-its-operations-at-.shtml

Urals Energy, the Aim-quoted oil and gas exploration company, gained nearly 18 per cent this week on takeover speculation, writes Neil Dennis .

The company, which controls assets in Sakhalin Island and East Siberia, said on Monday it had received a potential cash offer at an indicative price of 12.25p a share, valuing the company at £30.9m – a near-42 per cent premium to Friday’s close.

The offer remained undisclosed but cast doubt over attempts by shareholders, including Fire East, which owns 18.1 per cent, to oust the board, which has been accused of overpaying executives. Urals Energy hit a two-year high of 10.75p on Monday, and finished the week up 16.7 per cent at 8.75p.

Anite, which tests software for mobile devices, slumped after a profit warning drove the shares 32 per cent lower on Wednesday. The company said it had seen weaker orders because of contract delays, and although shares recovered modestly, they were down 21.3 per cent over the week to 89.1p.


----

Urals Energy receives cash approach

By Michael Kavanagh

Aim-quoted Russian oil explorer Urals Energy says that it has received a cash bid that values it two-thirds higher than its closing price on Friday.

The approach is pitched at 12.25p, compared with Friday’s closing share price of 7.5p, which valued the company at a modest £19m.

The move comes less than three weeks after an attempt by leading shareholders Alpcot Capital Management and Fire East Corporation to oust all but one of Urals Energy’s board. The two control just under 31 per cent of Urals Energy’s shares.

Andrew Shrager, chairman of Urals Energy, declined to name the company’s suitor. However, the proposed offer is described as being from “a highly credible purchaser with previous Russian operational oil experience”.

Urals Energy will issue a circular to shareholders on Monday setting January 27 as the date for an extraordinary general meeting to discuss demands to change the bulk of the board, and also setting out the company’s opposition to those attempts.

Maxim Barsky, former deputy chief executive and heir apparent of defunct Russian oil group TNK-BP, has emerged as the figurehead for opposition to Urals Energy’s board. He has accused Urals Energy of paying its executives too much and called on the company to consider selling its assets.

But Mr Shrager has defended the work of current management in recovering Urals Energy from near collapse a few years ago. “The existing management has saved the company from bankruptcy and turned the company around,” he said.

The chairman of Urals Energy also accused the dissidents who are calling for management changes of failing to make their own plans for the company clear.

The dissident shareholders have called for the installation of Mr Barsky as chairman, along with the election of TNK-BP’s former chief oil trader Jonathan Kollek and existing Urals Energy’s board member Torbjörn Ranta as directors of a slimmed down board.

The existing board, with the exception of Mr Ranta, who has abstained, is recommending that shareholders vote against all the resolutions proposed by the dissidents.

Articneft
The planned annual tanker shipment for export from Kolguyev Island is now underway. Weather permitting loading should be concluded by 10 November 2013 at which time the Company will announce the volume and value of the shipment. The shipment of this tanker ties in with the payment date for the remaining interest payment outstanding to Petraco Oil Company Limited which totals approximately US$3.0 million together with US$5.7 million repayable under the short term loan received from Petraco earlier this year. This remaining indebtedness is anticipated to be settled before the end of 2013 at which point the Company will be entirely debt free.

Urals Energy has now concluded its preliminary review of the results of the Passive Seismic Spectroscopy and a separate Micro-Seismic survey (together the “Surveys”) which have been carried out recently over a selected area in the Western block of the Company’s Arcticneft asset on Kolguev Island. A link to a PDF copy of the summarised version of the Passive Seismic Spectroscopy survey is below.

www.rns-pdf.londonstockexchange.com/rns/9280R_-2013-10-31.pdf

The Board believes that the preliminary review of the results show the possibility of significantly increasing production at Arcticneft from the current horizons with limited capital and operational expenditure. This is based on five main trends of hydrocarbon potential as revealed by the results of the Surveys and is consistent with the Company’s existing exploration strategy. The Company has issued requests for proposals to Miller & Lents and Degolyer MacNaughton for the reassessment of reserves to be conducted over the next few months at which point a further announcement will be made.

Carlo Brentari, senior geologist of GeoDynamics Worldwide S.r.l., who holds a degree in Geology from the University of Padova, Italy and a Masters in Energy and Environmental Management and Economics from Eni Corporate University, Milan, Italy, has reviewed the Surveys together with this announcement.

Alleged Debt Repayment Agreement (“ADRA”)
Subsequent to the announcement made by the Company on 23 October 2013, the Board established an internal committee consisting of three non-executive directors to look into the ADRA.

The internal investigation, which has focused on legal, financial and procedural aspects of the ADRA, has concluded that the document is a forgery with no consequences for the Company.

The Company has asked its counsel Akin Gump Strauss Hauer & Feld LLP to perform an outside investigation of the nature of the ADRA, in particularly the circumstances of how the Board came to be made aware of it as well as its use by third parties. The Company is committed to exploring all means available to it in order to secure the prosecution of those parties who have attempted to use this document and its attempts to threaten the Board and also the Company.

The final results of the investigation and subsequent legal measures against those parties will be reported within the next two weeks.

Geduld ist immer noch das wichtigste an der Börse.....und kaufen bei tiefen Kursen:)))) .Meine Geduld macht sich jedenfalls schon bezahlt! Und es stehen tolle News an.....Well#53 ,Tanker shipment ,Arcticneft Passive Seismic Surveys...und zu guter letzt...Übernahmefantasie !Freu mich schon auf die nächsten Tage und Wochen.good luck !!  

Urals Energy Public Company Limited (“Urals Energy” or the “Company”)
Completion of Tanker Loading

Urals Energy (AIM:UEN), the independent exploration and production company with operations in Russia, is pleased to announce that the planned annual tanker shipment for export from Articneft on Kolguyev Island has been completed successfully. The tanker left Kolguyev Island on Saturday 9 November 2013 with 25,008 tons of crude (an equivalent of 198,537 barrels).

As previously announced the payment date for the remaining interest payment outstanding to Petraco Oil Company Limited, which totals approximately US$3.0 million, together with US$5.7 million repayable under the short term loan received from Petraco earlier this year is linked to the shipment of this tanker. This remaining indebtedness is anticipated to be settled before the end of 2013 at which point the Company will be entirely debt free.

Urals Energy Public Company Limited (“Urals Energy” or the “Company”)
Operational Update, Tanker Loading and Alleged Debt Repayment Agreement

Urals Energy (AIM:UEN), the independent exploration and production company with operations in Russia, is pleased to announce the following operational update.

Petrosakh
As announced on 1 November 2013, drilling at Well #53 in the Petrosakh field on Sakhalyn Island has been completed and the Company is pleased to report that the current flow rate of Well #53 is approximately 70 barrels of crude oil per day. The Company is continuing to develop Well #53, as a result of which the flow rate may increase with time. Preparation works for drilling Well #112 are now being finalised and a further announcement will be made at the appropriate time.

Articneft
Following the announcement made on 12 November 2013 the Company would like to clarify that the reason than the shipment was not as large as the previous year was that close to the end of the loading process, the hose to the tanker was torn off by high winds and waves. Given the prevailing storm conditions and in order to avoid spillage, a decision was made to cease further attempts to re-connect and cancel the loading of the remaining crude. Given the fact that the storm was forecast to last for several days, a decision was made for the tanker to leave in order to avoid unnecessary demurrage. The remaining crude oil, approximately 1.5 tons, is still in storage at Articneft waiting for the next shipment.

Alleged Debt Repayment Agreement
On 23 October 2013, the Company made an announcement concerning a purported ‘Debt Repayment Agreement’ (the “Alleged Agreement”), which appears to have been entered into in December 2010 between the Company and a Cyprus company owned by Mr. Vyatcheslav Rovneiko, UEN Cyprus Limited (“UENC”). The Alleged Agreement claims that the Company is liable to pay UEN Cyprus Limited the sum of US$41,652,000 on 15 December 2013.

The Company did not enter into the Alleged Agreement and has no liability thereunder. Since the announcement made by the Company on 23 October 2013, there have been the following further developments.

On 26 October 2013 and 1 November 2013 the Company wrote to UENC and Mr Rovneiko respectively, explaining why the Alleged Agreement is obviously not authentic and raising a number of questions to which a response was urgently requested. Mr Rovneiko has not responded or disputed that the Alleged Agreement is not authentic. UENC responded not to indicate it contends the Alleged Agreement to be authentic, but instead to say only that it is seeking legal advice.

Separately, the Company has sought clarification from those to whom it had been suggested the Alleged Agreement had been assigned or otherwise transferred. By letters dated on 29 and 30 October 2013, Mr. Barsky, Mr. Bosov and Fire East Corporation respectively confirmed that no such purported assignment or transfer has taken place.

Unless UENC or Mr Rovneiko respond otherwise, it appears the issue of the Alleged Agreement is at an end.

The Company has also today published its responses to a number of other shareholder questions and these can be viewed at:

http://www.uralsenergy.com/ir_shareholderQ&A.htm  

Da meldet die Company das man die Restschulden an Petraco Oil zurückgezahlt hat,und das sie 2014 erstmals schuldenfrei arbeiten können....und was passier???!Der Kurs schmiert ab!!Jede andere Aktie würde wahrscheinlich um zig Prozent steigen....nicht so Urals!! -((       Das mit der Aktie Kursmanipulation betrieben wird,ist mir schon lange klar-aber sooo krass..neee!Da will wohl jemand noch ganz schnell ganz billig an die guten Stücke kommen.Mir solls recht sein,wenns noch mal weiter runtergeht,leg ich nochmal nach...sofern ich was bekomme??!!Aber ganz ehrlich-die Sache stinkt mir schön langsam-ganz gewaltig!!Weiss jemand etwas konkretes??Bin dankbar für jede Info!  gl  

President Putin Admits Offshore Zones Are Used Excessively
Rosneft Completes Offshore Projects Deals with Eni, Statoil
Russia Will Use G8 Platform to Tackle Offshore Zones – Putin
Putin urges end to offshore firms in strategic sectors
MOSCOW, December 12 (RIA Novosti) – President Vladimir Putin called Thursday for a renewed crackdown on Russian companies that dodge taxes by registering in offshore jurisdictions.
Around $111 billion of Russian money passed through offshore companies in 2012, equivalent to one-fifth of the nation’s exports, Putin said during his annual State of the Nation address.
Putin ordered the government to introduce legislation allowing Russia to tap tax revenues being lost to the budget by business’ extensive use of offshore companies. He also demanded a ban on state support for companies not registered in Russia.
“You’re welcome to use offshores – but the money needs to be [sent] here," he said.
Russian companies hold money abroad not only to take advantage of lighter tax regimes, but to avoid some of the risks of doing business in Russia, which experts say include an unpredictable business environment, non-independent courts and weak law enforcement.
Putin announced the start of a drive to “de-offshorize” the Russian economy during his State of the Nation address last year, but admitted Thursday that little progress had been made.
“I’ll say it directly, the results [of de-offshorization] haven’t been very visible,” he said.
“The income of companies registered in offshore jurisdictions and belonging to Russian owners… should be subject to our tax laws and their taxes should be paid into the Russian budget. We need to think of a system to seize this money,” he said.
The government is currently looking to maximize revenues as a slowing Russian economy has forced it to cut spending plans. The Russian economy is this year set to record its lowest level of growth since 2009.
Finance Minister Anton Siluanov told reporters after Putin’s speech that the “deoffshorization” of the Russian economy could provide the budget with “billions of rubles,” the Prime news agency reported.

Putin criticized the biggest Russian business deal of the year – state-owned oil giant Rosneft’s purchase of oil company TNK-BP – because it took place offshore.

The crackdown proposed by Putin, however, was criticized by former Finance Minister Alexei Kudrin.
“Unfortunately, in our conditions, the proposed de-offshorization measures are unlikely to reduce capital outflow. [But] they are correct in relation to state companies,” he said on his Twitter account.
Billions of dollars leave the Russian economy every year. In 2012, Russia recorded $56.8 billion in capital outflow, and officials expect that figure to reach about $60 billion this year.

http://en.ria.ru/business/20131212/185495216/...fshore-Companies.html

http://www.themoscowtimes.com/news/article/...e-companies/472993.html

Re Moscow Office

Urals Energy (AIM:UEN), the independent exploration and production company with operations in Russia, announces that its Moscow office was visited by police officers towards the end of last week. During the visit a number of files were removed. The directors of Urals Energy (“the Board”) believe that the visit may be related to the requisitioned EGM (which is scheduled to be held on Monday 27 January 2014), the loan due from Mr. Vyatcheslav Rovneiko (as confirmed by a Court of Arbitration in London in 2012) and the alleged debt repayment agreement against the Company (details of which were announced on 23 October 2013). As previously announced, the Board has no reason to believe that the alleged debt repayment agreement is genuine and the Board notes that date for repayment of the amount concerned, being US$41,652,000, was 15 December 2013.

Further announcements will be made upon further information relating to the visit being forthcoming.

Ehrlichgesagt weiss ich momentan nicht, was besser wäre-verkaufen??oder nachkaufen??Mit einem technischen Rücksetzer bis ca.9c hatte ich schon gerechnet,aber dann gleich so ein Absturz??Bei dieser Aktie gibt es so viele Für und Wider....Positiv wären da mal das Erreichen der Gewinnzone,die noch zu erwartenden Bohrergebnisse,über 50Mill Barell Reserven,die Seismologischen Untersuchungen..die auch schon längst fällig sind!!!..sowie die Übernahmefantasie.Das die Aktie viel zu billig ist wird wohl niemand bezweifeln...ausser diejenigen die sie übernehmen wollen:) Negativ wären da:die miserable Nachrichtenpolitik der Führung-,der Streit mit Rovneiko!!!der Polizeibesuch im Moskauer Büro!!!!!und die verschärfte Steuerpolitik Putins.....! Was mir aufgefallen ist die letzten Tage:es gehen nur kleine Verkaufsorder über den Tisch: 5000-30000 Stück meistens,selten sinds mehr.Und die werden dann sofort weggekauft!!Es gibt also keine grossen Insti-verkäufe.Ausser der Transfer der 41Mill Stück von Alpcot zu Adler Impex SA.  Folglich will man hier die nervösen Kleinanleger abschütteln-denke ich!!Denn wenn hier wirklich Feuer am Dach wäre,wären die grossen Pakete schon längst verkauft worden-......hier lacht sich klammheimlich jemand ins Fäustchen und sammelt billig ein!!Was mir jedoch komisch vorkommt ist,das der Kurs in Frankfurt Anfang Dezember abgesackt ist...in London erst eine Woche später!! Wie denn das??Sollte doch eher umgekehrt sein?Ich bitte um Komentare und Berichtigung falls ich falsch liege oder was wichtiges vergessen habe!  Grüsse!  

Adler Impex   25,08%, Fire East   18,19%, JP Morgan  4,94%, Petraco  3,44%, Sperbank  7,42%,  Latvijas Bank  19,4% ,BNP Baribas  2,67%,  Hargreave Hale LTD  0,51& Management  5,65%!!!Das sind 87,13 % der Aktien,das heisst also das nur 12,7%,oder rund 33 Millionen Aktien im Freefloat !!!  Hmmmm......und keiner der Instis verkauft!!Was die wohl wissen,das wir nicht wissen???  gl  

Die kommende Woche wird's zeigen!!War alles nur ein Fake -oder geht der Kurs an oder über die 20cent Marke!!??Wenns über 20cent geht ist die nächste grosse Hürde charttechnisch erst bei ca 70cent!!Auf Grund der Wahnsinnsmeldung über die entdeckten Ölreserven, durchaus vertretbare Kurse.Ich jedenfalls verkaufe nicht unter einem Euro!!!Einfach mal abwarten-zurücklehnen und beobachten...lG  

Post bitte mal ein link zur '' Wahnsinns Meldung''

http://www.uralsenergy.com/newsdetail.asp?news_ID=6463
 

http://www.uralsenergy.com/newsdetail.asp?news_ID=6464  

Zugegeben,mit Wahnsinnsmeldung hab ich wohl etwas zu hoch gegriffen,in meiner ersten Euphorie,aber ich glaube für eine Company die vorige Woche grad mal mit ca.10Mill.Euro bewertet war,sind diese Ölreserven eine ganze Menge!Früher oder später wird,oder muss der Aktienkurs anziehen.Ich bin seit 3 Jahren dabei,und bleibs auch bis auf weiteres.Die Halbjahreszahlen waren ja nicht so besonders,aber in den nächsten Wochen kommt der Bericht zur Tankerfüllung (Arcticneft),das spült der Firma auch wieder so ca:19-20 mill.Dollar in die Kasse.  PS:alles nur meine persönliche Meinung!lG  

aber mit Schulden von knapp 41 Mio. $ - schon...
http://www.kommersant.ru/doc/2519942
(mit Übersetzer, geht's)  

Bitte erklär mir wieso Urals Energy nichts mit Arcticneft zu haben soll, wo sie doch grade die Halbjahreszahlen, mit einer Ölförderung auf Arcticneft von 118958 Barrel gebracht haben.!!?? Wo zurzeit grade ein Tanker mit ca.200000 Barrel Öl gefüllt wird!!?? Bitte klär mich auf-Danke!  

Urals Energy PCL (''Urals Energy'' or the ''Company'')
Completion of Tanker Loading and Update on Petraco Loan

Urals Energy PCL (AIM:UEN), the independent exploration and production company with operations in Russia, is pleased to announce that the planned annual tanker shipment for export from Arcticneft on Kolguyev Island has been completed successfully. The tanker left Kolguyev Island on 23 October 2014 with 26,093 tons of crude (an equivalent of 207,940 barrels).

The sharp fall in Brent oil prices in October 2014 and the continuing depreciation of the Russian Rouble have resulted in lower netback for export sales of oil from Russia. The average Brent price in the second half of October 2014 (the period of Arcticneft shipment) reached its lowest level for the year at US$86 per bbl (second half of October 2013: US$107 per bbl.).

Whilst marketing and transportation expenses were in line with last year, the Company’s export netback has also been affected by export duty being set by reference to oil prices in September 2014.

The combined effect of these factors has been an approximate 30% decrease in the netback received by the Company on its export sales.

Petrosakh is only selling in the domestic oil market for which netback prices for oil products have been stable during the first nine months of the current year. The Company expects a seasonal increase of the product prices in the Sakhalin market for the remainder of the year. The Board believes that this will secure the Company’s operating cash flows at a level sufficient to maintain operating and investment activity in 2014.

As announced on 6 June 2014, the Company entered into a secured short-term loan agreement with Petraco Oil Company Limited (“Petraco”). The re-payment date for the US$3.9 million received from Petraco under this agreement, as well as for prepayment received from Petraco for export duty settlement in the amount of US$9.8 million, is linked to the shipment of this tanker. This indebtedness is anticipated to be settled before the end of 2014 at which point Petraco’s collateral over Arcticneft will be released and the Company will be entirely debt free.

Strategic Update
The Board also wishes to provide shareholders with the following update in relation to the Group’s immediate core priorities, which are to:
undertake a comprehensive review of the drilling programme at Petrosak to stabilise production and optimise refinery outputs to maximise local market net backs;
prepare and implement a new development programme for ArticNeft to bring forward production from the identified proven undeveloped reserves set out by Miller & Lents in their recent report (details of which have been announced previously). This development programme will focus on raising production levels substantially and improving the profitability of ArticNeft;
improve investor perceptions and understanding of the Company’s stable financial position and potential of its assets; and
identify potential acquisition opportunities within Russia that combine existing oil production with potential for adding reserves, as well as refinery opportunities that can be integrated with oil production.
The Company will also seek an early withdrawal of the Alleged Debt Repayment Agreement or seek a more rapid legal solution to this issue which has deflected the Company’s management and resulted in the Company incurring significant costs over the last year.

Commenting Andrew Shrager, Chairman of Urals Energy said: “I would like to place on record my thanks to Alexei Maximov for his contribution to the Company and its shareholders over the last five years. The changes to our Board and management will help reduce the Company’s overheads and ensure we have a team in Moscow that is focused on our priorities for the next three years. We will be recruiting a new Chief Executive Officer as soon as is practicable.

“In the near term the Company will have to cope with a lower oil price, rouble devaluation, and potentially rising rouble inflation that can be expected to follow. The management will report back to shareholders on our progress on a regular basis.

“The Board is pleased to be working with Adler Impex, a 44% shareholder in the Company, on implementing the Company’s strategy and the identification of new Directors to join the Urals Energy Board.”

Urals Energy Public Company Limited (“Urals Energy” or the “Company”)
ADRA Dismissed by 2nd Court of Appeal in Moscow

The Board of Urals Energy (AIM: UEN), the independent exploration and production company with operations in Russia, announces that it has received notification from the Moscow Court of Cassation (the 2nd level appeal court in Moscow) that the Company has won its case concerning Urals Energy’s appeal against the ruling of the 1st level appeal court in Moscow to grant Russian court jurisdiction in respect of the claim by UEN Cyprus Limited to recover the sum of US$41,652,000 from Urals Energy (the “ADRA”). Further details of the ADRA have been announced previously, including on 23 July 2014.

Urals Energy is also pleased to announce that it is in advanced discussions in relation to the withdrawal of all litigation between the Company and Mr. Viatcheslav Rovneiko and further announcements will be made at the appropriate time.