Exactly Dragon, the rns GKP do are awful, many times i have said, look whats missing from them from the 2nd Dec. This all ties in with the missing money and weak BOD response, change PSC etc. Hoping JF has all the info and ready for court. We tanker oil for mixing and they still dont know how many bopd ?? Crazy.
Create instability ..The KRG MNR dont turn up in London as they know they have writs waiting?
Did any IOC annouce they were receiving the payments in two installments with the second part being paid on Tuesday May 31st?
The KRG always maintain they sell oil from well head as such and have no idea of buyers, but have been taking money on account and stashing it away like they always do and now have to get hands on it..
Its all non nonsensical and IMO done for effect, but that's the KRG MNR all over.
One payment Tuesday would have sufficed, its a game and a bad one they play. Worse is how many IOC put out in the RNS the exact amount of oil produced, PRICE it was sold at and the fact they second payment was coming on May31st.
Basic games by Hawrmi, usual guff he comes out with, and to revert to twitter to say what they did is hardly good business is it..
KM, any decision made buying and selling shares can be reflected on and regrets are easily made. GKP as a business as stank since the day it entered Algeria, but that's another story. The board of GKP as been a disaster area since 2008, to many dam egos and no one with any business sense at all, all IMO thick with nothing between the ears , especially the TK Dr AH period which was based on greed and games.
Every should know investing in Kurdistan carrys risk, and track record on how the KRG have treated the Iraq Central Government should be a warning to anyone. I fully support the ICG postion of cutting of the KRG budget, lets face it, before 2014 and ISIL they had on average $12 billion a year, no refugees and still they never paid IOC's , that on its own tell you everything you need to know about the KRG MNR, especially the KDP arm of the KRG. Add onto that the signature bonuses, capital building bonuses, discovery bonuses, ect, with oil they have been selling since 2008 and that amounts to in excess of $25 billion a lone.
Flying horse post on PMO is a classic example of looking at IOC worldwide, I was shocked when they paid so much money for 40 fields producing 15000 bopd last December/January.
Another IOC with debt was and still is TLW, but for some reason people seem incapable of reading up, if people did they would have spotted over 50% of TLW oil was hedged $75 per barrel, so the market bringing it down to £1.20 in January was a real bonus to buy in, and to me its still undervalued, similar to IAE .
If JF is supposed to be a oil person, switched on, then arraging finance is not hard, and not acting on it when he was a appointed shows weakness, or he was never going to and had the CSA hiding under the boardroom table .
My gripe with the GKP board and its CSA is a simple one, and that is they invited pressure on the SP, and only had to reneg the bonds after paying the coupon, that decision on its own is one of the most reckless I have ever come across and it should be reflected in instant removal of key board members and the CSA via a EGM.
There are some real business people out there who know how to handle the likes of Bazarni Hawrmi and would whip there backsides, and I dont state that lightly .
Just passing. normally only hang out on the GENEL board. Just wanted to wish every genuine investor here the very very best for Tuesday. I was originally in the £4 gang and with Dalesmann, Gramacho and many others and my pain also goes deep.
In truth so many reason why we are here and not just the KRG to blame..
As stated understand all the political problems But can't get my head around why its so hard to refinance roughly $600 million in this day and age.With all the potential here.Especially looking at PMOs figures.That figure is a joke in big business and don't give me its because of the region and KRG crooks because with that factored in its still a modest sum.Lets face it you don't find oil like this in Devon of course there's risks
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.