Ruspetro: Sergey Gordeev Joins Board as Tom Reed Departs
Ruspetro plc. announces that, under the terms of its Relationship Agreement with Mastin Holdings Limited, the Board of Directors has approved the nomination of Mr Sergey Gordeev as a Non-executive Director of the Company. Mr Gordeev’s appointment is effective immediately. Mr Gordeev is President and CEO of PIK Group OJSC, …
The ROGTEC Interview Thomas Reed, CEO of Ruspetro
Thomas Reed, CEO of Ruspetro and a founding shareholder. Prior to joining the Group Mr Reed was a private equity and M&A advisor and investor based in Moscow. Since 1995 he has been involved in the origination, trading, and research of different classes of assets, such as equity and equity …
Ruspetro: Q3 Update – Revenue Up 4.2%, 80% MET Relief Now Being Applied
Ruspetro plc announces an update on its operations to date and its financial highlights for the third quarter of 2013. SUMMARY Financial 3Q revenue of US$19.7m, an increase of 4.2% over 2Q 2013 3Q EBITDA of US$4.9m, an increase of over 200% from 2Q 2013 (excluding exceptional items) MET relief …
Ruspetro: Signs Tight Oil Technology Partnership with Schlumberger
Ruspetro plc today announces that the Company has signed a technical partnership agreement with Schlumberger, the world’s leading oilfield services company, to advance its field development plan and drill a number of horizontal, multistage fractured wells using best-in-class tight oil technology and technical expertise. The technical partnership covers the following …
Ruspetro Signs $30m Prepayment Facility with Glencore
Ruspetro plc today announces that the Company has signed a crude oil prepayment facility with Glencore Energy UK Ltd for US$30 million. The facility is for a period of one year and requires the Company to deliver a minimum of 15,000 metric tonnes per quarter (approximately 1,200 bopd) of crude …
Ruspetro: MET Relief for Tight Oil Becomes Law, 80% Tax Relief on Tight Oil Reserves
Ruspetro plc announces that a substantial reduction in the Russian Mineral Extraction Tax applicable to tight oil has been passed into law this week and will be applied to production from the Company’s qualifying reserves from 1 September 2013. 80% MET relief: Due to the characteristics of our reservoirs, the …
RusPetro: Tom Reed Appointed Acting CEO and $84m in Loans Extended
Ruspetro plc today announces a number of important changes: · With immediate effect Tom Reed, current CFO, appointed acting CEO in place of Don Wolcott who has now left the Company · Current Chairman Chris Clark to step down at the end of July, replaced by Alexander Chistyakov as Executive …