Urals Energy

an article in the Times reports: 08.01.09: -0.88, (3.5) an article in the Times reports: Urals Energy fell 10.38p to 4.38p after news that it had failed to find a buyer... read more

an article in the Times reports: 08.01.09: -0.88, (3.5) an article in the Times reports: Urals Energy fell 10.38p to 4.38p after news that it had failed to find a buyer and that its main assets would go to its bank

an article in the Times reports: 17.12.08: -1.25, (16.25) an article in the Times reports: Urals Energy rose 5.5p to 16.25p after it confirmed, not for the first time,... read more

an article in the Times reports: 17.12.08: -1.25, (16.25) an article in the Times reports: Urals Energy rose 5.5p to 16.25p after it confirmed, not for the first time, that it was in talks over a possible sale.

16.12.08 :-4.75, (16.25) Urals Energy remains in talks with third parties and has not received a takeover offer, the mid-sized Russian... read more

16.12.08 :-4.75, (16.25) Urals Energy remains in talks with third parties and has not received a takeover offer, the mid-sized Russian oil firm said on Tuesday, paring an early leap in its share price. Business daily Kommersant reported on Tuesday that Chinese state-run energy giant Sinopec was in talks to buy Urals for $130 million, five times higher than its market price. Urals? London-traded shares opened 100 percent higher, but pared gains and by 0900 GMT were up 28 percent at 13.9 pence. Urals, whose owners include Leonid Dyachenko, the former son-in-law of Russia?s late ex-president Boris Yeltsin, said the possibility of an offer for the company had been raised as part of discussions first disclosed on Dec. 5. "However, it remains the case that no offer has been made and there can be no certainty that an offer will be made," it said. China has been vying for a greater slice of neighbouring Russia?s energy resources and has plans with Russia to conclude a 15-year oil supply deal. "Chinese state firm Sinopec started talks with Urals shareholders in October about buying the firm," Kommersant reported, quoting unnamed sources both close to negotiations and from Urals Energy. The $130 million price tag quoted by the newspaper was almost five times higher than the value of Urals on the London Stock Exchange before the market opened. Urals? market capitalisation at Monday?s close was 19.15 million pounds ($28.81 million), according to Reuters data. In Russia, Sinopec is developing the Sakhalin-3 oil and gas project on the Russian Pacific island of the same name along with state oil major Rosneft. In 2006 it bought Udmurtneft, a production unit from BP?s Russian unit TNK-BP, for $3.5 billion which it now co-runs with Rosneft. Sinopec was not immediately available for comment.

JP Morgan has initiated coverage on Imperial Energy Corporation Plc as ?underweight? with a 950 pence target price and Urals Energy Plc... read more

JP Morgan has initiated coverage on Imperial Energy Corporation Plc as ?underweight? with a 950 pence target price and Urals Energy Plc as ?overweight? with a 320 pence target price in a sector review, market sources said. In a note published this morning, JP Morgan said that it recommends switching to Urals Energy from Imperial Energy Corporation. The broker added that Urals Energy is superior on economics of growth.