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NWOG has paid 88.5 mln rubles ~ $3.35 mln for Lugovskoe field. Another auction for Nekrasovskoe field was canceled (lack of interest - just one bid). We can buy it next time. :)
<<those pic's of the crew,..in their spiffy starched outfits...tell Malyshev,..it looks like those outfits were bought yesterday.>>
I, actually, think it’s a good observation. I may disagree with “scam” conclusion but would give a credit to a person who pays attention to details. The reasons I don’t see anything suspicious here: look at pictures on the NWOG website. They were there when NWOG was a private company. The same shiny outfits. Whom did they try to “scam” then? It’s in Russian tradition to “dress up” before the pictures are taken. I’ve already tried to explain why the ladies on management page are dressed like this. What do you expect from the crew - to “enter eternity” with dirty oil pumping outfits? :) Of course, they took new ones, of course they put beautiful company label on a fence – it wasn’t there just 5 min before the picture was taken: http://www.szng.ru/i/8969b.jpg . They maybe even painted the fence first.
Again, it is just my opinion… which could be influenced by my long position. :)
euddoggwyn, good luck with your plans! It would be very interesting information. Although, I suspect the problem you are trying to solve is more than very difficult. Many companies in Russia are born in “dark places” of personal connections and favors. Nobody is going to tell you: “I worked with Mr. XXX in Rosneft, introduced him to my friends in Canada and, in exchange, he talked to YYY in Surgutneftegas. At this time some Yukos assets became available, so I called …” This is just my fantasy – I made it up, but that’s how new businesses in Russia get to life. All questions will be answered in… 50 years. :)
Sorry, I don’t want to discourage you… And would be happy to get results. Just be prepared that questions you are asking are even more difficult than production numbers. :)
<<Communications with Maria>> Great minds think alike? :) I have a day off next Monday, so my intention is to write the long list of questions during weekend, call her and try to get some answers. On the back of my mind I also have a little hope that when she realizes that caller speaks Russian and is asking “too detailed” questions she may invite Mrs. Sozina to participate. From my past unsuccessful calls I got firm impression that Malyshev is hard to reach, but Julia is usually in the office available to talk if she chooses to (never happened to me).
Not sure I will be able to accomplish anything (even to compile the questions) - family plans, etc., but right now I am looking at a blank paper in front of me with empty sections:
1. Office
2. Company structure
3. Shares count, higher exchange and AIM
4. Revenue and production
5. International deals
6. Miscellaneous
Regarding Udmurtneft... I have searched the "Russian web" today - they have just elected new BOD (December, 11) with 5 representatives from Rosneft and 4 from China. They are investing record amount of money in Udmurtneft in 2007. It just doesn't look like NWOG can bite any piece of this...
IMO.
P.S. Thank you for your kind words. I don't think I deserve them but it was a pleasure to read. :)
Weekly portfolios update:
P1: $9,393.59 down 6.06%
P2: $11,373.53 down 9.01%
in case if someone actually reads this :)
<<I just can give Mr. Malyshev a credit for doing this>>
terrible typo! I meant can not! The whole point was that I don’t think it was the current management’s activity…
So, she stands by yesterday's CC number... WOW!!!
It's not a "correction" it's a subject for a separate explosive PR.
Thanks jazfunk.
euddoggwyn,
I am not saying that Russian management is “innocent souls”. “Trust but verify” is a right approach. What I was trying to say: Russia didn’t have a stock market for almost a century. People still don’t invest in stocks as a rule. They buy gold, foreign currency (less dollars more euros now) – mostly in cash, but sometimes they risk to open accounts and get some interest. Even mathematically/financially skilled and educated people have no idea about stocks, bonds, derivatives, options, warrants, etc. It’s just something outside their life experience. Of course, everything is changing now but it could take a generation (IMO). There are plenty of scams and financial crimes in Russia, definitely more than in US or Canada. But they are mostly simple and “old fashioned” – grab money and run. :) With NWOG/NDOL we saw pretty sophisticated procedure, and I just can give Mr. Malyshev a credit for doing this.
Unless something extraordinary happens, that’s how our future looks in my crystal ball: NWOG price gradually rises to $0.5 and higher, supported by some fundamental estimates (production, reserves, AIM). At some point insiders will start selling small portions of their holdings. People will start talking that “this means nothing”, “they just need pocket cash”, “this is a $5 stock”, etc. This moment, when you start believing all these statements, is usually the most dangerous (to me). That’s when you have to sell enough to return invested money. Of course, I always sell too early but now I own free SIBN shares, almost free SPRL and AURC, etc. I want to own free NWOG shares too. It will happen somewhere in $0.5 area. :)
All IMO (and I am not qualified to give any trading advise - after 3-4 pretty successful years my performance is pretty poor in 2006).
This is true. However, the point was: earnings can double or triple but everybody’s share in company’s wealth (current or future) won’t change with additional 10% shares. So, no particular group of shareholders (“Russians”) can benefit from this more than others.
Probably, I am also not bright enough... I was going to ask this question myself: How can anybody get "bigger chunk of the profit" after stock split? TIA.
Agree. Wendel, thank you for your call to NWOG today - great job!
I am not a very religious person - hard totalitarian childhood. So, celebrate everything. :) But if I had to identify myself… the holidays start tomorrow (12/15 - 12/23).
I find changes in NWOG attitude very encouraging. My opinion: in this "Monimpex way" to bring Russian businesses public Canadian team (Parkin & Co) is a bunch of self centered “businessmen” who are testing the law by using different techniques that often hurt the company they suppose to care about. Until proven wrong, I don’t blame current NWOG management too much. They had no experience of public trading (especially in Pinky jungle), they probably looked at Parkin & Co like an example of “the Western way to do business”. I am sure that game with $2.17 buyout was Canadian invention and they brought it to Saratov like Westerns brought alcohol to aborigines. You can’t blame aborigines for being drunk after that. :) Believe me, nobody in NWOG knew anything about Frankfurt, shorting, restricted shares before “foreigners” explained those terms and methods. You can see this looking at merger PRs. They merged first, then posted something like this (from the memory): “correction: it appears new shares will be restricted according to SEC regulation #...”. So, my take for now: NWOG team is inexperienced and even amateurish but comparatively decent. And even if they are not, we have common interests now – they need to bring the stock price up and keep it up long enough to be able to sell insiders shares (there are restrictions on % of the daily volume that could be sold). Malyshev talked about $1/sh in a year. I would be more than happy with $0.5-0.6.
IMO.
Thanks, Brent. We have a very strong board here. Sometimes I even think that this could be harmful for the stock price – it’s hard to surprise people, every PR that would normally rally the stock is met with yawn: “Old news!” :)
First, I am ashamed that I didn’t call NWOG today, but I really can’t do this from work… Of course, I could take a couple of hours off but was discouraged by 1-minute format… which (looking at your posts) wasn’t a big problem after all. Great job, guys! Very interesting and encouraging information, good market reaction.
Some notes, looking through today’s messages:
1. wishmd:
“I asked about the Oil India JV - the answer was that they were to be involved in the (I believe) Udmurtneft purchase, which may still come to pass. There is a protocol in place and a proof of reserves necessary before they can move forward. But Oil India is apparently still very much involved.”
Very interesting. Yes, NWOG-Oil India JV was created to buy UdmurtNeft and should be dead by now because we lost the bid to Rosneft/Sinopec (China). How it “still come to pass” is beyond my understanding. There is no way Chinese will lose their stake (IMO). Is Rosneft swapping it’s part? That would make some place for NWOG… But Oil India? Not enough room for all of them… Kind of strange and unexpected information.
2. greg33:
“When can we expect an audited financial statement to be released?
Answer: We are in the process of doing the financials now and they will be release in March 2007(1st quarter)”
We heard the same encouraging statement from Maria before. They do need it done before restricted shares will be allowed to trade.
3. wishmd:
“The former NDOL licenses are not currently being explored, though they comprise a part of the total NWOG assets. Per Mr. Malyshev, the assets of NWOG (without NDOL) far exceed the assets of NDOL.”
If those astonishing production numbers are true this is, actually, a great news. We are generating revenues even without “10% of PetroKazakhstan”. Imagine what is going to happen when NDOL assets join the pump.
“… he estimated the share price would rise to $1 within a year. His advice, in view of this, is that if you can buy additional shares, the current price would be very good, as appreciation to $1 within a year is likely.”
No comments. :) I don’t think that $1 price is somehow calculated and based on production, reserves, etc. But Mr. Malyshev is a big shareholder and that’s what he and other insiders want to see in a year. I don’t mind.:)
4. greg33:
“Are you in any way affiliated with Lukoil or Gazprom?
Answer: No but we are in contact with Rosneft”
Interesting. It could be the same Udmurtneft deal. It could be recently announced “confidential agreement” which (my guess) could include splitting Yukos SamaraNeftegas assets, or anything else.
5. WENDEL1, mildtrans:
“14,600 barrels per day!”
Well, this is more than exciting and (IMO) the main “excuse” for today’s rally. I don’t know… The discrepancy with numbers used in company’s PRs is so big… And Svein, who asked the same question, doesn’t confirm the number: “production is in line of what we know and what the company has told for this year”… and number is approximately 7 times higher than we used to think… and 1 m. ton = 7.3 barrels… To avoid disappointment in future I choose to think that something went wrong with Mr. Malyshev calculations – in Russia they never measure oil output in barrels, divide by 7, multiple by seven… :) Svein, I would be curious to hear why you are so cautious in your description of the call? I mean Syria now. Did they tell you secret and confidential information? Was it hard to believe?
6. wishmd:
“The Danziger deal does not seem to fit their business - what's the story? … They asked NWOG to purchase - and NWOG views this as strictly an investment for profit…”
Connections, connections… The offer was too good to refuse. :)
“What is the status of the $60mm financing they had announced earlier? A group of investors has made the financing available about 2 weeks ago. However they are going to try for better terms.”
Very interesting. Do those (not so good) terms include dilution?
7. mildtrans:
What' are the daily revenues?
Answer: About $one million/day
Another reason to get excited. But… let’s say they do produce 14,600 barrels/day. $1 mln/14600 = $68.5/brl. There is no way they could sell oil for this price. I haven’t checked recently, but it should be something like $30-40/brl. They do have other sources of revenue: transportation, etc. Still, before I fall down from my chair I’d like to see this number in print…
I also asked current O/S shares.
Answer. About 500 million O/S.
Excuse me… And how about “Outstanding Shares: 605,400,387 of which 567,146,124 are restricted and 38,254,263 free trading.”? Is 605 mln “about 500 mln”? And what about additional shares that were issued for SaratovNefteGazGeofizika acquisition?
Conclusion: Great day and good information. I would like to see it documented somewhere (NWOG website, press release, etc.)
The auction for Lugovsky field is tomorrow 12/14/06 (although, it’s already tomorrow in Russia), 4 participants, including NWOG. Next interesting auction is scheduled for 2/21/2007 – two fields in Saratov region (~$.085 - $1.3 mln).
http://news.sarbc.ru/main/2006/12/13/65425.html
If I had to guess who is the seller and which assets NWOG is going to buy, I would look at SamaraNefteGaz – former Yukos subsidiary. Samara’s government wants to sell all Yukos “leftovers” as soon as possible and offered a discounted price to Rosneft and Gazprom. NWOG may want to get a piece of property close to it’s main producing fields. Just a speculation.
http://www.au92.ru/msg/20061213_g424h0y.html (Russian)
Sold 50% of my tiny AURC position at the close today, which exactly reflects my 50/50 trust to Parkin & Co. Of course, we wanted cash dividend and following price rally… But, honestly, does anybody believe that Aurus is profitable at this point? Yes, they produce gold and generate revenue. But what are the expenses? If you look at history of their Russian divisions (Ruda, Northern Ore Technologies, etc.) – they all were almost (or fully) bankrupt a few years ago. Dozens of employees, other expenses. Does Krong cover it all? Do they produce gold at other places? Did they take that $10 mln loan? Are they going to take another $40 mln? Until AURC starts reporting nobody knows… And how would they pay cash dividend when the number of OS is unknown, accounting is not audited, expenses are not counted, etc. Believe it or not, but for me this dividend announcement adds some credibility to AURC management. As I posted before, I would consider cash dividend as the trick used to artificially inflate share price for further manipulations. This dividend, although a little disappointing, looks like a business decision – they pay what they can afford now. Long term investors can hope that additional dividend-shares will be worth much more when company starts reporting and moves to the higher exchange.
IMO.
I’ve received a PM about yesterday’s NWOG PR about signed “Confidential Agreement“. I don’t have the PM ability on iHub but posting here is almost as confidential as PM.
First, as everybody else I was shocked by the language… English was at the record low level, even worse than mine. :)
So, they practically agreed with “unknown seller” about purchasing of 9,256,400 barrels of C1-reserves. They just have not come to the price that should be paid – which leaves the rest of the “agreement” open. Does the seller recognize “international experts specializing on an estimation of assets”? Was it joint choice or NWOG found them itself? Uncertainty and guessing game.
Of course, if the deal go through it will significantly increase NWOG reserves (by 25% of C1 reserves)… which is very positive. My only concern: NWOG believes $25 mln is a fair price for this producing asset – it’s about $2.7/brl. We saw similar estimates ($1.5-4.5/brl) in some other recent deals (MOL, Star Energy) – all in the same area with similar to NWOG conditions. I am starting to think that my $8/brl “conservative price which includes Russian discount” is not that conservative after all? Of course, it’s hard to tell w/o knowing details of infrastructure for every field, but still… strange. If somebody wanted to buy NWOG, using the same criteria for a “fair price”, what would be an offer price for oil assets?
Brent, regarding your Sam Hyams - Robert Yeggy (SPRL) conversation with IHDR…
I’ve never talked with any of them, but I do have an opinion, based on my life experience with guys like these. :) FWIW, this is my version of events:
Robert is PhD-kind guy, researcher, inventor, owner/author of technology and “know-how”. Sam – is savvy businessman with connections, owner of “know-where”. In Robert’s “scientific” mind Sam knows nothing about refining and sludge processing. Now, Sam takes him to Russia. High level meetings, huge sludge reservoirs, Bashkortostan, Tatarstan, Orenburg, Stavropol’, Rosneft… Robert sees that “know where” Sam is about to become a “sludge-king”, and he “doesn’t even understand how it works, he can do nothing without my brilliant technology, I would do it better if I had those Russian contacts”… The eternal conflict between “know-how” and “know-where” :) Or using one word - jealousy. Robert wasn’t prepared when IHDR called, and let his jealousy out. Not the best quality… but that’s how I see this. BTW, you remember velvet’s post about Yeggy’s intention to move his operations from public company to the private firm? IMO: this is a direct result of Russian trip and Sam’s influence. He also wants to get his share of the coming cash flow, he wants to be rich, he is going to prove that he is as shrewd as Sam is.
Pure speculation, but that’s my interpretation for now… and this is my board. :)
Hmm... I still see Klyon picture on the home page:
http://www.auruscorp.com/index.asp
and Klyon listed in Aurus structure:
http://www.auruscorp.com/about_structure.asp?sec=about
Klyon/Maple is in the list of RosPrirodNadzor among the licenses that could be revoked, but doesn't look like it happened already.
<<NWOG INC is subsidiary of CJSC-NWOG and all assets that belong to CJSC automatically belongs to NWOG INC, because it is owned by major shareholder of 59% CJSC NWOG and in near future , hopefully first quarter of 2007 we will make consolidated audit balance in order to show capitalization of CJSC NWOG including NWOG Inc.
Hope it was clear explanation. >>
If anybody understands this please explain… Assets of a parent automatically belong to subsidiary? I always thought it’s an opposite. Anyway, the important information from this exchange: in near future , hopefully first quarter of 2007 we will make consolidated audit balance in order to show capitalization of CJSC NWOG including NWOG Inc. They do need this before restricted shares become tradable.
Thanks Gibbe for your post.
You are right. I’ll give it a try, probably next week. I did call NWOG a few times in the past and never was able to go through secretary. But it was in “old times” - before Maria.
Received e-mail response from her:
“Dear ***,
Unfortunately we don’t have technical ability for CC, but it is very good idea to have prepared questions in advance and than to post the answers in PR.
Best Regards,
Maria. “
So, I am going to write a list of questions/suggestions (based on wishmd’s list and other posts), send them to Maria, and, maybe to call NWOG after that. I don’t expect answers to technical questions (like production numbers, etc.) but, at least, NWOG will have enough material to keep “2-time a week” PR flow for some time ahead. :)
P.S. BTW, jazfunk, if you talk with Maria “on a REGULAR basis” – why don’t we hear from you more often? What is the subject of your discussions? Is it of interest for the rest of us? Thanks for all your efforts, and don’t hesitate to share “on a REGULAR basis” :) – even if it’s just “feeling”, “impression”, etc.
this is an article about Sam's visit to Stavropol'. Still interesting but not the text you posted.
Thanks.
and the link is...? :)
TIA.
I have to confess I’ve just noticed that “one minute ... will disconnected automatically”. It’s even unclear whether Mr. Malyshev himself is going to take calls, or it will be an answer machine… So, they expect me to take a day off, call to Moscow to be “automatically” interrupted after “hello”? Hmm... I will probably pass. Waiting for Maria's response to my email.
Lugovsky auction.
First time was scheduled to 9/4/2006. Was canceled because of “lack of interest” – just one application. According to official site http://www.saratovnedra.ru/ next auction is scheduled to 12/14/2006 at 11 am (but terms could be changed). Probably, the date was moved to 12/12/2006 (according to NWOG’s PR) but maybe not… BTW, the field is so small (P/P reserves 344/5 thousand ton of oil, 13 mln m3 gas) that it would be rather moral satisfaction. Start price 700,000 rub ~ $27K.
http://www.rosnedra.com/article/711/8
euddoggwyn,
The Surgko position on NWOG licenses: “Zamestitel’ of General Director, which means Vice General Director. He mentioned as General Director on licenses granted to “NefteGazEnergo” (acquired by NWOG later?). Although, the history that you managed to dig up is very interesting and worth a look. I remember Slavneft is a former company of Gutseriev – president of Russneft (but maybe I am confusing something). NWOG-RussNeft connection (if it’s the case) would be something very interesting: two major private players, competitors, etc. I used to look at NWOG licenses in “zoom” mode and decided to leave them alone for now. There are some questions that I am afraid to ask. :) For example, license for Kalininsky field (one of the main producing assets) expires on July, 27 2006. Was it extended? Usually this is almost automatic procedure, but still…
Very interesting post, thanks.
I think it has something to do with the fact that name and ticker were changed in different times.
"UPDATE TO LETTER DATED NOVEMBER 20, 2006 - THE NAME CHANGE TO NORTHWEST OIL GROUP INC. HAS BEEN CANCELLED."
Name was changed in September
http://www.stockcloud.net/press-release/NDOL/43441/nord-oil-international-inc-nord-oil-internationa
Maybe when they changed the ticker later TD Waterhouse also erroneously recorded name change again? Just guessing...
Just sent this e-mail to NWOG:
Dear Mrs. Romanova:
Our investment community (iHub NWOG board)
http://www.investorshub.com/boards/board.asp?board_id=4052
is very excited to see significant changes in NWOG attitude towards it's loyal long-term shareholders. The announcement about the conference call this week is another positive step in this direction. However, we are concerned about the format of the conference call - one minute per caller. The importance of entire event could be diminished by this detail - the same questions will be asked many times by different callers, some conversations will be interrupted, etc. As a result, valuable time of NWOG management won’t be used properly with the effectiveness that in general characterizes your company’s work. Our board, which includes dozens of members with millions of dollars invested in NWOG, suggests to use some CC time to answer questions prepared in advance by the board members. We could post them on iHub, or I could e-mail them to you on Wednesday. The answers could be posted in company’s PR that summarizes the conference call, or e-mailed to one of our representatives.
Regards,
**** (eik)
Before you give your opinion of this stock you may want to learn more about “shell companies”, “reverse mergers”, Monimpex, etc. To talk about AURC “ten years ago” is kind of ridiculous (sorry) if you understand the subject.
IMO.
Actually, only Mrs. Sozina holds “high power position”. Accounting, general enquiries, assistant manager – traditional women “paper” work in Russia, a-la receptionist in US. Agree, the way they dressed looks unusual for American eye. Day before these picture were taken they were warned to be prepared – so they “dressed up” - like they usually do for restaurants, weddings, etc. You are not going to believe, but there is still a difference between men and women in Russia. They just started implementing American “sexless” business style. Maybe that’s why Russia doesn’t have problems with sexual orientation… yet. :)
AURC is not a scam! It’s a real business with good assets… The problem (if any) is in a way how this company (like NWOG) has chosen to go public – using one of the schemes suggested by Monimpex. The whole idea, as I understand it (maybe wrongly) – first, the “transition team” Parkin & Co gets everything they can, then they leave business alone and let people work. Hopefully, this already happened with NWOG. I am not sure about AURC – in my sick imagination I see Monimpex pushing AURC price to $1+ level (using real or fictional dividend, etc), shorting it in Francfurt, etc. In this case one should “load the truck” now… But maybe the market perception is changed, and they just can’t do it anymore? We will get our answers next week. If it’s a stock dividend or no announcement at all (which is possible) than they’ve probably got what they wanted already. If it’s cash dividend with “quarterly” promises – we are moving much higher from here.
IMO.
Joe, although I can imagine AURC paying cash dividend (many companies even use debt to do this) my concern is: AURC accounting is less than transparent, they don’t report the number of OS, so we can’t estimate dividend related expenses… They just borrowed $10 mln and were ready to borrow up to $50 mln… Will they pay dividend and keep borrowing? Is it wise? It’s obvious that the purpose of this “dividend campaign” is to raise PPS. The question is how high is enough for them. Are you sure they are not selling at $0.2 and have already achieved the goal? I have no desire to go down with AURC position again – I am happily in the green now, and can get ~ 7000 “free” shares if I sell the rest. Just trying to figure out the further action… “to buy or to sell?” – that’s is the question. :)
“The purchase is expected to be completed in the fourth quarter of 2006.” (from 10-QSB form). We still have a chance to hear about this, although, I am watching Mr. Zaikin for a couple of years now… he had 60 days to evaluate situation, and the main question was about chances of Kondaneftegaz to win those licenses – this company is worth zero without these deals. SIBN CEO is very smart and savvy businessman – he is not going to gamble, so if Kondaneftegaz has not secured these assets we are not going to feed their employees. After all, SIBN doesn’t generate profit yet. Oil licenses in Kurgan region is an example of how Siberian Energy is taking properties under control – 100% success in auctions. If they want it – they get it! Results are known even before auction is started. And if/when some unexpected bidder shows up (like in recent November, 28 auction) Zaikin would rather boycott event than take a risk of losing – the auction was canceled, and I have no doubt next time both licenses will go to SIBN.
Drilling results in Kurgan fields is the main event, that can move SIBN price to double digit range or… they need something like Kondaneftegaz to diversify business.
IMO.
Yes, everything points to the growing conflict of interests between two Russian ministries: RosNedra and RosPrirodNadzor. The first one issued hundreds of licenses and probably got some benefits (kickbacks) from parties that were awarded those licenses. Now they oppose revocation and try limit the damages by painless financial penalties. OTOH, RosPrirodNadzor is a police-like tool that provides direct orders of Presedent and tries to get “people’s property” back from foreign invaders. :) It’s a struggle between “Russia’s political interests” (represented by Putin/Mitval) and “economical interests of particular groups” (corrupted branches of Government).
http://www.rusenergy.com/newssystem/opened/37/
IMO.
I have googled “cash dividend Pink Sheets” and related topics. Looked at dozens of pinky companies that pay dividends. It’s hard to compare - different businesses, different source of revenue… General conclusion: special (one time) dividend is as good as the amount of dividend paid. :) Usually it’s a one time event with temporary price spike and drop to the old levels following the ex-div date. To make a killing (and that’s what AURC management wants to do) the announcement should sound at least like: “AURC declares cash dividend of $0.01/sh (?) + We plan to pay dividend regularly on quarterly basis.“ I mean, 1 cent dividend with “hope” of 3-month cycle is better than 5 cent “special”. With 1 cent/qrt even for pessimistic and unrealistic 10% yield: $0.01*4*100/10 = $0.40 - ultra conservative price target. For 5% yield it would be $0.8, for “normal” 2% - $2, etc. And the funny thing – they just need to promise to pay “quarterly” and then, when the price jumps to the moon, re-consider because circumstances have changed (“Parkin & Co style”).
I am going to read coming PR very carefully… If I see those “magic” words – I am a buyer.
IMO.
This Austrian company, Eastoil Holding Gesellschaft m.b.H., owns 89% of shares NK SaratovNeftegeofizika and supposedly is selling it’s stake to NWOG . Maybe somebody can visit them in Vienna :)
http://cgi.compnet.at/contact-cgi/compnet?act=9&nr=3820506&l=1&ver=5&ol=0&opt=1&....
The auction for Lugovskoe field is scheduled for December, 12. If NWOG wins it's a PR for next Thursday.
Interesting that Surgut-6 has almost the same reserves as Surgut-7 but was sold more than 2 times cheaper. Probably because of less developed infrastructure. It was ~$8.5 mln at that time, should be $11-12 now (using Surgut-7 as an example). We will see how much NWOG is ready to pay.