Gulf Keystone Petroleum is an independent oil and gas exploration and production company. It was founded in 2001 by UAE, Kuwaiti, Saudi and US private equity. It is now operated in the Kurdistan Region of Iraq.
More creative accounting, no the KRG never exercised the back in rights or paid there way, ask JOA of Atrush, they did not dare allow what GKP have allowed, as they made IR reports to the Canadian Stock Market saying the KRG had exercised the BIR, and then he KRG failed to pay there costs, wonder why DNO carry takwe costs, perhaps its the arab owners?
Shaikan Arrears Position net to GKP as at: 31 December 2015 30 June 2015 Comments Revenue arrears $93m $117m • Export sales entitlements for the 6 months are in line with cash payments received • Decrease is due to MNR back-in impacting share of profit oil and clarity on Shaikan realised prices Payables to MNR ($49m) ($41m) • Payables are offset against the revenue arrears, as permitted by the Shaikan PSC Net arrears $44m $76m MNR 20% back-in $75m $76m… Read More
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