heres another GREAT find and post from eik...
Post #90
OK, you forced me to look into this stock more carefully. :) Siberian Energy used to be one of my favorite Russian plays (as you can see from my previous posts). It’s not your typical Russian-Canadian pinky. Honest management, complete transparency and reporting, good connections in Russia and Europe. Zauralneftegaz was a typical venture capital investment – “win or die”. If successful they would be among Russian majors now. Unfortunately, first wells didn’t meet expectations… So, we have what we have – big drop in share price.
Two main holdings: KNG (currently 44% stake) and ZNG (50% in JV). Most assets are still there, and unlike risky ZNG venture, KNG is “guaranteed” oil revenue… if they invest about $15mln. Their partner is responsible for financing the operation – win-win situation for SIBN. "Currently we are evaluating different business opportunities in the oil and gas industry, including advanced development stage and revenue-producing enterprises and are in preliminary discussions with a potential partner which owns several oil and gas producing properties in Western Siberia..."
What is amazing, despite of desperate need of cash. They managed to keep small OS count. Out of 100 mil AS only 18+ mln have been issued. Every share is counted, valued, and Zaikin even sued former insiders who tried to sell “canceled” shares. They plan “no later than 2011, to start drilling an exploratory well and to complete not less than 2 exploratory wells by April 1, 2012.”
Current $400K market cap is ridiculous and well below the value of assets. The stock is valued for failure. And this is not going to happen (IMO). To understand why, one needs to check credentials of SIBN President Helen Teplitskaia:
http://www.arcci.org/spotlight/HANDOUT2007.pdf
http://people.forbes.com/profile/helen-teplitskaia/71599
http://www.siberianenergy.com/s_18.asp .
Search also for “Russian Anglo Minerals Resources” http://uk.reuters.com/article/idUKLDE6971TH20101008 . This company is about to start trading in London… And who is in the management? Zaikin and Teplitskaia, sounds familiar?
Bottom line: SIBN is likely to merge or be acquired by RAM Resources. That’s why Zaikin has been carefully watching and protecting share structure. Insiders are holding big part of OS, that's their salaries for last couple of years, and they are not going to waste it. SIBN shareholders are likely holding shares of future multinational company RAM Resources.
All IMO... I could be wrong.
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