Sector "Heat Generation"

Equity research notes on the sector

09/23/2008  TGK-14 buyout offer: a unique opportunity to earn 
Research note also related to: Power Utilities, TGC-14

09/15/2008  Market gifts 
Research note also related to: Financial sector, O&G, Power Utilities, Telecommunications, IT, Economics & Strategies

06/26/2008  RusHydro: the unique generation company 
Research note also related to: Power Utilities

11/21/2007  TGC-6 – New Strategic Investor Possible! 
Research note also related to: Power Utilities, TGC -6

Performance of the investment ideas presented in the equity research note: Shares Price on the day of idea release* Target price Current price* Current returns Highest returns TGC-6 -- 0,0016 -- -- --

10/16/2007  WGC-1 – The Last WGC looking for a Strategic Investor 
Research note also related to: Power Utilities, Wholesale Generation Company 1 of the Electricity Market

Performance of the investment ideas presented in the equity research note: Shares Price on the day of idea release* Target price Current price* Current returns Highest returns OGK-1 -- 0,11 -- -- --

09/14/2007  New SPOs of Gencos – TGC-1 and TGC-8 
Research note also related to: Power Utilities, TGC -1, TGC -8

Performance of the investment ideas presented in the equity research note: Shares Price on the day of idea release* Target price Current price* Current returns Highest returns TGC-1 -- 0,0017 0,00015 -- -- TGC-8 -- 0,0015 0,0012 -- --

07/30/2007  WGC-4: Additional Share Issue Will Go to Strategic Investor 
Research note also related to: Power Utilities, Wholesale Generation Company 4 of the Electricity Market

Performance of the investment ideas presented in the equity research note: Shares Price on the day of idea release* Target price Current price* Current returns Highest returns OGK-4 -- 0,12 0,0090 -- --

05/14/2007  TGC-5 – Hazy Prospects in a Good Region 
Research note also related to: Power Utilities, TGC -5

Performance of the investment ideas presented in the equity research note: Shares Price on the day of idea release* Target price Current price* Current returns Highest returns TGC-5 -- 0,0016 0,00015 -- --

04/18/2007  Kuzbassenergo – There is Still Coal in Stockpiles! 
Research note also related to: Power Utilities, Kuzbassenergo

Performance of the investment ideas presented in the equity research note: Shares Price on the day of idea release* Target price Current price* Current returns Highest returns Kuzbassenergo -- 5,02 0,0025 -- --

03/09/2007  IPO of WGC-3: Interros Looking to Gain Control 
Research note also related to: Power Utilities, Wholesale Generation Company 3 of the Electricity Market

Performance of the investment ideas presented in the equity research note: Shares Price on the day of idea release* Target price Current price* Current returns Highest returns OGK-3 -- 0,17 0,0085 -- --

*Market prices are given either as the prices of the last transactions in a previous session on an exchange (MICEX and RTS) or the average between the best ask price and the best bid price on RTS as of a previous session's close.