Rus News Journal

Urals Energy the Company has again occupied

will spend a new loan for replenishment of circulating assets

Cyprian Urals Energy, owning actives in Russia, has agreed about granting of the short-term demand line of credit that will allow it to fill up circulating assets and partially to carry out of financial obligations. On it yesterday have informed in the company, without having specified the loan sum, credit conditions and the creditor. According to analysts, Urals now in very difficult financial position, however it still had perspective deposits.

Urals Energy has been created in the beginning 1990 - h years. To it belong: JUrals the North with three sites in Nenets autonomous region, Dulisma which owns the licence for the Dulisminsky deposit in the Irkutsk region, 35,3 % of the company Taas - Jurjah Neftegazodobycha (Yakutia), Petrosah (Sakhalin), Arktikneft Open Company TSNPSEI In Komi, Chepetsk oil and gas extraction management (NGDU) in Udmurtiya. In August, 2005 Urals Energy has spent IPO on LSE and has involved 131 million dollars the Basic shareholders Urals: Vyacheslav Rovnejko (21,9 %), George Ramzajtsev (21,9 %), Leonid Dyachenko (7,8 %), William Thomas (5,1 %), Alexander Ogaryov (3,2 %). Company capitalisation - 5,1 million pounds sterling.

Urals Energy it was possible to involve the short-term credit. The transaction should be approved at extraordinary meeting of shareholders on January, 26th. The company does not disclose terms of loan. The new demand line of credit will be used for replenishment of circulating assets of branches - Petrosah and Arktikneft and also for performance of some financial obligations. According to analyst IK Veles the Capital Dmitry Ljutjagina, new credit Urals can make 20-25 million dollars

From - for financial crisis at Urals there were problems with liquidity, admitted the company one month ago. She already had to leave actions of the companies Dulisma and Taas - Jurjah Neftegazodobycha put under the credit to the Savings Bank on 630 million dollars Now the transaction on transfer of securities to bank is at a final stage, have informed yesterday in the company.

besides it in December the information on possibility of attraction of the foreign investor was showed, but on January, 6th Urals has declared that the third party (under the informal information, Chinese Sinopec) has stopped negotiations about its purchase. Besides, to cope with financial complexities the company counted by attraction of the new credit, and also sale of a part of the not profile actives. However with realisation of last variant there were complexities because of instability of a situation in the financial markets and considerable falling of the prices for oil.

Urals it has appeared in difficult enough financial position, the senior analyst FK " marks; Opening Natalia Milchakova. That fact that the company gives to the creditor the most valuable actives - actions Dulisma and Taas - Jurjah Neftegazodobycha says that at it is not present or nearly so there are no circulating assets. The expert does not exclude that in the long term the Savings Bank can resell these actives Rosneft as to one of the largest manufacturers of oil in Eastern Siberia. By an estimation g - zhi Milchakovoj, these actives even at the today`s prices would cost together over 600 million dollars However at Urals there are perspective projects in Timano - Pechora and Jamalo - Nenets autonomous region. in spite of the fact that it is small deposits, rates of extraction here can be very high the next years (about 22 % on the average in a year) - Natalia Milchakova considers.