- 21 Apr 2006 11:06
Has any one noticed this this morning a lot of buying with just one sell Ttrade,any one think this could be a good punt,advice please before its too late.thanks.
- 18 May 2012 17:35
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These up a little today driver, not many blue on my list or anyone elses I wouldn't think. Your suggestion of 12p would be a dream come true.
- 18 May 2012 19:02
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Pretty please will you let me know when you think it is time to get out or stay in. I am aware we don't have crystal balls so to speak but I think that the Russian/Eurcrain has a lot to offer and so must the markets??? At this moment in time.
- 20 May 2012 18:59
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Mant thanks Driver I have only got 500 pounds invested in this and don't know how to top slice ;only thingh I can think it means is to sell half -- not a lot but will still be in profit, which would make as we know a change.
- 20 May 2012 19:31
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3ms true http://www.youtube.com/watch?v=6Wnw2-7N13A&feature=related
- 21 May 2012 10:32
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- 21 May 2012 10:36
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The board of Matra is very pleased to announce the appointment of Maxim Barskiy as Chief Executive of the Company with immediate effect
- 21 May 2012 12:54
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Would be nice to think it was a £500 million company in 6 months driver.
- 21 May 2012 16:23
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They would probably do a b. awful consolidation. Shouldn't think we (me) would be that lucky.
- 21 May 2012 21:06
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lol gl http://www.youtube.com/watch?v=fZ0tRSLP1gw&feature=related
- 22 May 2012 11:07
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Not as good here as yesterday morning.
- 22 May 2012 14:26
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Cor blimey, every time I come back to look at these they are going further down!!!! We need some big buys not sells.
- 22 May 2012 15:33
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No spare cash I am afraid too many outgoings at home at the moment sadly.
- 28 May 2012 10:05
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From The Other side
Opinion: No Opinion
translate with googleToday 09:38
Matra Barsky could buy with the AAR Spanish Vetra with assets in Colombia - newspaper
[2012-05-28 08:30:55] Matra Barsky, together with the AAR can buy a Spanish Vetra with assets in Colombia - newspaper
MOSCOW, May 28 - Prime. Independent oil and gas company Matra, the largest shareholder and CEO of which is the former deputy chairman of TNK-BP Maxim Barski, going along with the AAR consortium to buy a Spanish company Vetra, which owns 14 licenses for exploration projects in Colombia and service assets in Mexico, the transaction value estimated at $ 500 million, wrote on Monday, "Kommersant" newspaper, citing sources close to the negotiations.
AAR can be a co-investor in the transaction. In what is supposed to resell Vetra larger companies such as TNK-BP, the newspaper notes.
Matra has already sent a proposal to a potential partner in the transaction - Russian shareholders of TNK-BP, a consortium AAR (Alfa group, Mikhail Friedman, Access, Leonard Blavatnik and Viktor Vekselberg's Renova).
It is assumed that the company will create a joint venture, where Matra will be 50% plus one share. Maxim Barski has confirmed interest in the Vetra, in the AAR to comment, "Kommersant" refused.
Vetra - Spanish independent company, established in 2003 Humberto Calderon Berti, a former president of the Venezuelan PdVSA. It has assets in Peru, Ecuador, Mexico, Venezuela, Colombia and Trinidad and Tobago. However, the main focus of business Vetra in Columbia, where she owned shares in 14 blocks. According to sources, "Kommersant," their reserves by category 2P (probable) are estimated at 14 million barrels.
Moreover, Vetra is a large service contracts in Mexico have PeMex.
At AAR independent of TNK-BP's oil business there, exploration blocks in the Kurdistan consortium sold. According to sources, "Kommersant," Barsky suggested AAR become a financial investor in the project's operations will deal with Matra. While the consortium has not decided whether he is interesting deal, sources said publication.
If the deal goes through, Vetra could later be resold a large company, among the possible contenders - TNK-BP, which already operates in Latin America. In Venezuela, the company acquired a 40% BP Petroperija (production - about 650,000 tons per year), 26.6% - in Boqueron (375,000 tons) and 16.67% - in Petromonagas (5,5 million tons).
In addition, TNK-BP is a National Oil Consortium (PNC), which is jointly developing with PdVSA Junin-6. In April, the company closed its acquisition of 45% in the 21 block in the oil and gas basin Solimoyns for $ 1 billion, their resources is estimated at 2 billion barrels of oil equivalent.
Barsky was appointed deputy chairman of TNK-BP 1 June 2010 and led the company organizing the work of the Board and coordinating the activities of all employees. Last summer, he issued an ultimatum to shareholders of the company, which will leave it to the end of t
- 29 May 2012 09:21
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Going well today more news to add to the story.
TNK-BP head quits as shareholder crisis flares
Mon, 28 May 2012 15:23:47 +0100
By Vladimir Soldatkin and Douglas Busvine
MOSCOW (Reuters) - Billionaire Mikhail Fridman resigned on Monday as chief executive of Anglo-Russian oil firm TNK-BP , plunging Russia's No.3 oil firm deeper into crisis and challenging co-owner BP's grip on the business.
His departure reflected a further breakdown in relations between the British oil major and the four Soviet-born shareholders, led by Fridman, who together own the other half of TNK-BP, said a source close to the Alfa-Access-Renova (AAR) group that represents the tycoons.
"The AAR consortium has lost confidence in BP as a partner. The status quo cannot continue," the source told Reuters.
BP has recouped the initial $7 billion investment it made in TNK-BP in 2003 many times over. But it has had a series of clashes with its local shareholders over corporate governance, with current BP chief executive Bob Dudley being forced out as head of the 50-50 joint venture in 2008.
Fridman's resignation, effective in 30 days, intensifies a shareholder dispute dating back to BP's failed attempt last year to strike a strategic exploration alliance with state-controlled oil firm Rosneft .
Arbitration proceedings continue under UK law into whether the failed BP-Rosneft deal violated an exclusivity clause in the TNK-BP shareholder agreement, with further hearings expected to be held towards the end of this year.
The demarche also follows the formation of a new administration by President Vladimir Putin, whose close ally and former energy 'tsar' Igor Sechin - mastermind of the abortive BP deal - has just been appointed as CEO of Rosneft.
Since Putin's re-election in March, Rosneft has struck major exploration deals with Exxon Mobil , Eni and Statoil . BP remains sidelined.
With Sechin also nominated by Putin to chair Russia's state energy holding company Rosneftegaz, speculation has mounted that TNK-BP could be a potential takeover target for the state, industry sources and analysts say.
An industry source said that Maxim Barsky, who had run TNK-BP on a day-to-day basis as deputy CEO before leaving late last year, may return in a new role in a move that could further antagonise BP. Barsky declined comment.
The TNK-BP news broke on the day British Foreign Minister William Hague visited Moscow, but the matter did not come up at a joint news conference with Russian counterpart Sergei Lavrov.
Governance at TNK-BP has once again been on the brink of collapse since the resignation of two independent directors, former German Chancellor Gerhard Schroeder and mining industry veteran James Leng, at the end of 2011. Only one has been replaced.
Last week the board postponed a dividend payout in a sign of a broadening rift between AAR and BP, which each received $3.75 billion in 2011 dividends from TNK-BP.
TNK-BP is still looking to replace an independent board director and was unable to decide on the dividend because the board does not have a quorum, the company said.
Two other members of AAR, Viktor Vekselberg and German Khan, retain senior posts at the company, which will be run by executives holding powers of attorney in their areas of expertise after Fridman's resignation takes effect, TNK-BP said.
BP said the resignation would have no effect on the company, which would be run by the management board, which also includes the chief financial officer, Jonathan Muir, and top upstream and downstream executives.
Fridman had not been involved in running the business on a day-to-day basis, BP added.
"As long as he owns it, he will de facto run it," said a well-placed source in Moscow energy circles.
"This is just a way to formally disassociate himself from the management. Looks like preparing the ship for a storm."
TNK-BP's board is likely to remain inquorate until late this year, meaning that the Anglo-Russian oil firm would be unable to pay dividends during that period, said the source close to the local shareholders.
"It is highly likely that there will be no board meetings and no dividends until the end of the year," said the source.
A further round of arbitration hearings into whether BP violated the TNK-BP shareholder agreement in its failed exploration and share-swap deal with Rosneft last year is, meanwhile, expected to be held in the fourth quarter.
If the arbitration panel finds in AAR's favour and awards nominal damages, that would significantly strengthen the case for TNK-BP's directors to back legal action against BP for $5-$10 billion in damages over the Rosneft deal, the source said.
- 31 May 2012 10:15
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More news to add to the story. Starting to look very interesting.
May 30, 2012 5:38 pm Financial Times
Barsky rejects TNK-BP for future with Matra
By Michael Kavanagh
Maxim Barsky, former deputy chief executive and heir apparent of TNK-BP, has insisted his future lies with developing his new exploration vehicle rather than returning to the troubled Russian joint venture.
Speaking ahead of Monday’s decision by the Russian billionaire Mikhail Fridman to resign as chief executive of TNK-BP, Mr Barsky confirmed that he was seeking the potential support of Russian investors in the warring joint venture for Matra, his Aim-quoted vehicle.
He argued that contacts with Alfa-Access-Renova (AAR), the consortium of Russian shareholders that owns 50 per cent of TNK-BP, and other Russian investors might provide a source of future funding for Matra to achieve its ambition to establish itself as a leading independent explorer in Russia and beyond.
“We will look to use my relationships with Russian companies and investors,” said Mr Barsky. “If we can’t raise money through capital markets, we will have them as alternative investors.”
Suggestions that Mr Barsky might re-establish himself as the preferred candidate to lead TNK-BP have been damped in recent days by Mr Barsky and potential backers in his new venture.
“Mr Barsky will be working as an outside consultant helping the company [TNK-BP] develop some outside opportunities but not in an executive position inside the company,” according to a person familiar with AAR.
Mr Barsky took over as chief executive of Matra last week after agreeing in April to inject £4.6m of equity into the company from his personal fortune. He amassed this through building his last listed venture, Western Siberian Resources, from less than $100m to $1.5bn.
The Russian oil executive stepped down from BP’s joint venture last October following a series of protracted disputes between BP and AAR – a consortium made up of Mr Fridman’s Alfa Group, Len Blavatnik’s Access Industries and Viktor Vekselberg’s Renova.
Explaining his strategy of focusing opportunities to acquire assets in Latin America as well as areas in Russia, Mr Barsky stressed his experience in negotiating deals outside his Russian hinterland during his spell at TNK-BP.
During his time at the venture, under the tutelage of both Bob Dudley and his predecessor as BP’s chief executive Tony Hayward, Mr Barsky was responsible for negotiating and assessing asset deals in Vietnam, Venezuela and Brazil at a time when the partners in the TNK-BP venture “weren’t talking to each other”.
In spite of the impasse between the two sides, Mr Barsky last year helped oversee the agreement with HRT of Brazil for a 45 per cent stake in an onshore field in the Amazon basin for $1bn.
Though now in command of a vehicle with a market capitalisation of £49m rather than Russia’s third-largest oil producer, Mr Barsky insisted he was content.
“The challenge [at TNK] was to prove you can operate in a large organisation – though smaller companies can be harder to manage,” said Mr Barsky. “At that time, the scale was something I wanted. But I am more an entrepreneur and less of a bureaucrat – I am more an entrepreneur than just a manager.
“When I was dealing with Marcio Mello [chief executive of Brazil’s HRT], I saw a happy man who reminded me of myself when I could call the shots and move quickly. Looking at him sowed the seed of Matra.”