Petrolinvest, a company from the group of Ryszard Krauze dealing in lucrative sector of oil exploration is evaluated at PLN 1.9 billion (EUR 495.9m) today.
“If the estimates of our geological fields in Russia and Kazakhstan prove true, in several years’ time our company may be worth several billion US dollars. Recently, Chinese CNPC bought Hurricane, a company exploring oil next to our field, for USD 4.2 billion”, Petrolinvest head said.
If so, Petrolinvest’s capitalization would exceed this of Grupa Lotos which today is worth PLN billion.
However, the value of Petrolinvest has recently dived on stopping Ryszard Krauze, its main shareholder. The businessman is alleged to take part in the leakage of details about the action against Andrzej Lepper, the former deputy Prime Minister. Last Thursday, the stock price fell 20 percent.
“Until we find oil and start generate money, the stock price will be susceptible to this kind of news. Last week’s events have not disturbed our operations”, Pawel Gricuk said.
The company concentrates on looking for oil in Russia and Kazakhstan.
“We will spend USD 200m this year. If we find oil, investments may grow to USD 400-500m next year”, the CEO stressed.
(PLN 1 = EUR 0.261)