what guarantees have we got post oo,we dont get paid now,still awaiting last months payment and a missing third payment from previous month,spending more cash to increase output is pointless ,producing 50/100 bpd not getting paid why bother,oh i forgot are masters want it,dont spend another penny on increasing production untill a real payment method is guarantteed,but ther again you have to remember whos really running the show krg mmr,be very carefull guys throwing good money after bad here,
The production increase and Capex should be taken from the KrG and it is they that should be paying for this with the debts owed not shareholders who are being decimated.
Withe the debt owed covering Capex and production increase we could then afford both coupon payments and hold off this d4e offer (theft) until next year with possibly higher oil prices and isis kicked out of Iraq.
With on going payments and production increase its not in the realms of fantasy we could attract new bondholders who want to grow with us and pay this lot off in full that have contrived to destroy us from within.
Distressed - IMO going by your response, even if you invest in another company that has all the hallmarks of another Afren or GKP written all over it, you will not see what's coming ......
Experience they say is the worst teacher, it takes the test first and teaches you the lesson later. But unfortunately, some stops after the shock of the test, never bothering to learn the lesson. You my friend is one of them.
One of the major problems for people attempting to understand any alternative financing possibilities that may be open to the company is the complete lack of detail regarding the agreed FDP (field development plan) and the associated "Bridging element" (the 55Mbopd scenario).
For sure the FDP will identify target dates, Capex, production numbers, etc. and GKP's obligations will have been very clearly laid out - as will penalties for non-compliance.
I for one very much doubt if the KRG/MNR obligations and penalties, in the event of late and insufficient payments, have been laid out just as clearly by GKP's board.
Historical evidence regarding just how non-adherence by MNR to PSC clauses does not inspire confidence that this particular BOD has been any more successful in fighting their corner.
Yes Durbs flawed judgement in many ways but do you not also accept that this new CEO and BOD with all their data room shxt ( okay so it didn't happen) gave out the message that this was an investment big money was still interested in ( if the payment issue could be sorted and more implication that it would.). On a normal day this was should have been a decent long term investment unless there's no actual oil in the ground.! And I don't see gulibility on the court listings but I do see dereliction of fiduciary duty and fraud on the minority. Had to get the dictionary out there. We'se been conned! But it's water under the bridge.
Now then you little tinker, the fact you replied tells me we have a rat in the camp you knew exactly what was coming long back and this is being ridden down with precision timing just like every other stitch up on the stock exchange
And you know it, now get helx to collect them cones in when we are F**KED
Distressed - You are just trying to justify that your judgement was not flawed.
Going by your metaphor, you decided to listen to your own music that you nicely downloaded to your iPod for the road trip, not bothering to tune in to the FM radio traffic update that was already warning a traffic blockade ahead, nor did you observe the build-up of traffic until there was no side lane left for you to exit and escape the jam. Now you are looking for someone else to blame. The smarter ones who were well tuned in to the traffic update already took an exit long back.
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