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What's the big development?
Can you please elaborate
I dont think they will close. Probably made enough with the algobots running the show here.
Lets hope the shorts all rush to close.
Big developments overnight and more likely forthcoming in Munich.
ADVFN is up to speed.
:) Upwards we go
Just a few facts re : Gabriel
Gabriel is listed as a member of the technical committee as stated here: https://www.gulfkeystone.com/about/corporate-governance/
Now if you scroll down to the technical committee box and click on the terms of reference link it tells you who makes up the committee and their role. The first paragraph in the document states “the committee is a committee of the board of directors of the company”.
I suggest everyone read the remit of this committee and then make your own mind up if you think Gabe is in the know or not.
The risk here is mainly political between KRG and Iraq government. One main positive which didn’t get much attention is that for the first time KRG received money from January from the budget allocation rather than a loan. Let’s see if that continues for February.
Atb to all shareholders.
Damn Nobull, you spoilt the fun. I wanted to let Andy take enough rope to properly hang himself. He doesn't realize where the listed company is incorporated...
The top holding company is incorporated in Bermuda, so if Gabriel is a main board director, the Company Secretary would have to file Director Appointment form in Bermuda (the Bermudian equivalent of Companies House in Cardiff, which is probably in Hamilton).
Papineau LeGris, because of his qualifications (CFA) and his job title (Chief Commercial Officer?) is likely to already have considerable responsibility, so it is not surprising if he is a director of one of GKP's subsidiary companies e.g. the UK one, for which director appointment forms are usually filed at Companies House in Cardiff.
So no, G. PLG is not yet a main board director, but probably is a director of a GKP subsidiary. In any case, as he is a PDMR, he still has to disclose his share dealings in GKP. JMV.
"when this was a screaming buy around 70"
Yeah I bought big time then. As I said then:
" I'm of the view that this is cheap and have been buying all the way up from 69p."
They were producing about double the amount of oil as now, the pipeline was open and they were being paid with clearly understood contract terms. They had an agreed FDP. The off-balance sheet CRP asset was multiples of what it is now. All you had to believe in was a recovery of the oil price. Since then a lot of capital has been paid out of the company. Different times...
Andy pandy back in the filter bin. Muppet.
He's a director you effing numpty. If you knew anything about UK Ltd Co. law, you'd know about director's fiduciary responsibilities .
But you don't .
Did you find a roundabout ?
I'm a MD you f u ckwit.
It’s the same as ever on this board. Same names I remember in covid when this was a screaming buy around 70 and had to put up with the nonsense of lemons telling us it’s all doom. Worked out beautifully then as it came back up when people realised the world wasn’t going to end with Covid. Good to see the reputation of those tobys are still the same.
While somewhat irrelevant, BroadfordBay, and TM, is correct. He is not a member of the board (although, as noted, we can expect him to be appointed in due course). He participates in board activities as part of the Technical Committee (as does John Hulme who isn't a board director either). In any event, he is a "person discharging managerial responsibilities" (PDMR) and the company is required to make the relevant disclosure. 20k for a person in his position is neither here nor there.
Budget amendment now in process of being approved... next 10 days.
Iraq's government is studying options for amending its budget in order to be able to pay foreign companies operating oil fields in Kurdistan in a bid to restart the flow of oil from the northern semi-autonomous region, al-Sudani told Bloomberg
"We are discussing the draft amendment of the relevant article along with the parliamentary financial committee," al-Sudani told Bloomberg, adding that companies operating in Kurdistan "are waiting for the amendment to be done on this article in order to be able to pay for the production cost."
https://oilprice.com/Latest-Energy-News/World-News/Kurdistans-Oil-Still-Offline-Due-to-Discord-Over-Payments-to-Producers.html
Andy pandy has never been on a board
It’s clear to me that BroadfordBay is paid to nullify irrational exuberance and frankly he has done and continues to do a good job for his paymasters.
SHUTUP...
And that "buy" discussion, if formal, will be in the Board Minutes and is illegal under UK Law, or if it was informal and coercive , it's illegal under UK Law.
So it's neither and you're talking pish as usual.
Go play on a roundabout.
You guys are hilarious. Arguing about whether he is a director... The board will have made him buy the stock. Don't read anything into it at all.
Looked at the GKP site this morning and he was on the Senior Management list but not the Directors’ one.
Just checked again and that is still the same.
From the appointment RNS.
“We are pleased to announce that Gabriel Papineau-Legris, GKP’s Chief Commercial Officer, will be appointed CFO and Executive Director after the AGM in conjunction with Ian stepping down.”
Could well be he was already a Director as CCO, in which case it was a Director Buy of £20k worth of shares.
Still doesn’t meet the several directors making “chunky” Buys criteria though 😎
Apologies if I have inadvertently posted incorrect info about his standing.
So, Companies House has PAPINEAU-LEGRIS, Gabriel, listed as an active director of GULF KEYSTONE PETROLEUM (UK) LIMITED. Appointed on 10 October 2017.
It's a very easy thing to check, yet some on this board are adamant that he's not a director. Or is Companies Houes wrong perhaps?
A quick peruse of HM Companies House website states that he IS an existing Director of the Company.
@TM,
true, he is not (yet) a director but only a Chief Commercial Officer...but one who has been told he will soon be CFO.
He possibly has even more detailed knowledge of "what's going on" than does the CFO...
It's good to see the technical support (albeit weak) at 94 'n change hold up. Let's see what happens. I'd still expect it to be tested again. It seems clear that management and the board haven't got the balls to get started on a buyback before the quiet period ahead of FY results and that's the bid we really need to see. Maybe with the results in 5 weeks or so.