News

October 30, 2009

Conference Report 2

By Amy McLellan

Upbeat Presentations From Volga Gas, PetroNeft Resources And Max Petroleum Demonstrate Why The FSU Remains So Attractive To AIM E&Ps.

The Former Soviet Union has proved a popular, if not always easy, destination for small cap E&Ps, with three of the presenting companies at oilbarrel.com’s 29th conference in the City of London among those to be lured to this resource-rich region on the edge of energy-hungry Europe.

Volga Gas has positioned itself on the European side of Russia, which removes the transportation challenges that face some of its peers working further east in Western Siberia where the several thousand kilometres of pipe separating field and customer can see companies lose one third of their sales price in transportation costs.  “We are close to major markets in Russia and there’s access to major pipeline infrastructure with spare capacity,” stressed CFO Tony Alves, who joined the company...