If I am been really honest...I am probably going to sell out before the oo......The court case is the end of the week....thats the next hurdle. Don't expect any issue there. At the moment it makes more sense for me to sell this side of the oo, as I really don't want to throw anymore money at the KRG. Assuming the restructuring goes a head....my holding would be worth less after I subscribed for shares, again, assuming the sp falls back to 1p level or there a bouts. So would be better to sell now......least from my stand point.. Good luck.
Thanks, del, weather and steve z, for your responses. Are you all still invested here? I am still in but it seems there can not be much defence against selling out now if one goes by current thinking and sentiment. It depends on the volume presently held by the PI when applied to the Open Offer formula (plus further cost) and the resultant/post-restructure SP versus the current 5p. If you guys are staying in for the Offer, what is your logic concerning the maths and assumptions of the outcome resulting in a benefit to you over the situation now? Thanks.
You are so correct, one wonders where everyone connected to big oil, (M.P's included), will turn to next if the oil ever did run out. When will the next corrupt company emerge from that will enable these b......s to continue fleecing those whose hard earned cash enabled them to commit fraud and get rich at private investors expense.
GKP do not operate in a normal business environment. Corruption is at a much higher level in Kurdistan then most other places...so very hard to imagine a condition where genuine value can be determined. The whole affair has stunk as is the norm by the way for the oil industry in general..... Good luck...
What you say is correct, however, you are making the assumption that there was an intention to sell the company in its current state that is with a significant PI presence. With the benefit of hindsight, the directors constant refusal to engage with equity tells its own story. When you couple that with directors willingly giving away commercial assets and then the debt for equity swap on the remaining asset. It would be almost impossible to not entertain the conclusion that the board has at no time acted in the interest of shareholders. I wonder if anyone would be surprised if it was revealed that the board and the KRG were active in the secondary bond market prior to the restructuring. It was an error on my part to continue to be involved in this venture when we ended up with a board with no skin in the game.
Our Masters want GKP's assets under the full Control of their DNO (due to their massive holdings in that company). This will give no benefit to the general Kurdish population (and certainly not the poor GKP PI's who underwrote finding and setting up Production from Shaikan) - but will give spawn even more wealth and Control to those who manipulate the MNR and the 'rulling' familly.
Can a genuine fellow investor please give a view on this question..................
Regarding the Data Room, do we presume that the potentially interested visiting parties are basing any bid they may make on the previous CPRs or were they/have they been given an indication of another method of estimating the value of the assets? If they are using the last one published (to us), surely it will not reflect the true value. If you were trying to sell a company, would you not ensure that the data was up to date? And, if it is, would that not imply that a new, unmentioned assessment has been already arranged? I really don't know but thought it worthy of some opinions. What do you think?
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