Sale of Gazvy Well, that should cover the Boardâ€™s salaries and fees for the next 6 months: Proactiveinvestors UK Cadogan Petroleum agrees US$2.8mln Gazvydobuvannya sale â€œThe sale of Gazvydobuvannya LLC is part of Cadoganâ€™s goal of building a platform for growth in Ukraine through the prudent use of its cash resources and the monetization of its legacy asset.â€ I see no one has posted here for at least a year. That about reflects the activity in the company.
Re: such a lazy company Come off it, Invest?These deadbeats have set the amount aside to pay themselves salaries, fees and bonuses for achieving non-existent targets. You couldn't make it up.
such a lazy company with so much money in the bank they do very little with it there were some great opps when the oil price was around $40 per barrel they should have made strides to invest. Look at what SDX is doing in comparison to these lazy guys.. picking up salaries for no return on investment
Re: Early stage talks Sudan asset out now , 3.4K DOWN THE DRAIN, in the past I have sat things out and watched my dosh go,so gla who remain,
Re: Early stage talks Sudan asset well its about time they did some thing to justify their salaries , issuing equity is real hard work !I am just about cut and run wit the spoils
Early stage talks Sudan asset Cadogan who have been reviewing many possible assets to diversify into, are in the early stages of examining the possibility of investing in three exploration and production licences in Sudan.It may of course (like the AST approach) not come to anything. Or currently like the Italian licences appear to be a very long smouldering fuse.[Link not in English][link] Khartoum: Sudan Times The British Cadogan Petroleum Company expressed its desire to invest in exploration and oil production in the Sudan in three oil boxes (17, 25 and 2 B ) and to enter into a partnership with Sudan National Oil Company Sudabit, Guido Michelotti) during a meeting with Dr. Abdul Rahman Osman Abdul Rahman, Minister of Oil and Gas in his office on Wednesday, The meeting, which was attended by Undersecretary of the Ministry, Director General of Exploration and Oil Production and General Manager of Sudapet Company, discussed the desire of the British company to work in Sudan . He stressed the desire of the company and its readiness to work in Sudan, stressing the dispatch of a British technical specialist specializing in oil to study the technical aspects and make offers for partnership with Sudanese company Sudapet, which is located in the boxes mentioned in the concession. The president of the company that Cadogan Petroleum is one of the companies offered to the British stock market and operates in a number of countries . For his part, the Minister of Oil and Gas, the technical bodies in the ministry in coordination with the company and provide the necessary assistance to achieve the goals of the delayed partnership, indicating that the doors of Sudan will remain open to all companies wishing to work in oil . "
Re: Any theories... this is a vehicle for te 'family to syphon off all the cash on balance sheet, until its gone . no sense of cutting costs to align with revenue and massive salaries and bonuses paid based on made up and achievable non competitive targets. good luck watching the boatrd squeeze every last penny out for themselves
Annual Report What a load of utter tosh this is:See pages 43-44: the Board consider it appropriate to pay Michelotti a bonus of 200,000 Euros from shareholders' money for doing absolutely diddly squat. He appears to have increased production from one barrel a day to two or something similar. He will finance the tax on this from his own resources. How generous of him.Zev Furst has earned over half a million dollars in fess since his appointment in 2011 for doing absolutely naff all.The COO earns more than the company makes in field operations. So the company would improve results by firing the COO and outsourcing his position to a chimpanzee. Operations might even improve.Bernard de Pallieres leaves and the SP goes up - just about says it all. He wasn't doing much either, so that's one less snout in the trough.If this isn't abuse of minority shareholders, I don't know what is.
Re: Worth a punt? Posted many times about the people behind the BoD and largest shareholders of this company but nobody seems to be interested. There is and has never been any other intention of the management than to loot the cash and valuable assets of the company. The company was paying a bomb to Helicopter-CEO's that were in reality pursuing other business (with flagrant conflicts of interest). The company's last drilling operations seemed to have been deliberately in the wrong locations. Where did the unused cash go?Like many others before this one will disappear in the schwarz field.
Worth a punt? Anyone here have a strong opinion about this company? It has a negative Enterprise Value, so the market has written it off entirely. Would be very grateful if someone could give me the bull case. Cadogan seems to consist of some tiny oil and gas production assets and some expired E&P licenses. What am I missing?
Re: RNS CAD Buys Italian Exploration company... I suspect rather that the various assorted Euro-trash who pose as a Board in this Company have merely found a way to divert the cash which is the only asset it has. Expect it to disappear down some holes in Italy and don't hope for much else.
RNS CAD Buys Italian Exploration company. Cadogan diversify their exploration assets with an investment in Italy.So the race is on, Will the person in charge of the website figure out how to update the interactive world map on the operations page before the first Italian well is drilled?
Reduced capital burden for trading. In Kiev the International Forum "Oil and Gas 2016" on 25-27 October.Cadogan Petroleum including Astro-Service will be attending, promoting their various oil and gas trading and drilling related service businesses in Ukraine. [link] the signing early this month of law no. 3617, it will come into force on 1 November.This will benefit producers and traders who will now only have to allow 10% for insurance stock (rather than 50%).
Any theories... No theories but facts. With more than 50% of shares held by friends of and a board appointed by Alessandro Benedetti who would expect this company to display any normal business behavior?The company is comatose with marginal production of some 100+ bbls. The cash will disappear and so will it's assets of value.
Re: Any theories on.... Probably the youtube video has drawn attention to the fact that the mcap is way below the cash in bank amount. Plus they have a number of potential assets under consideration to purchase. Basically the share price is far too low for the value of the company.