Careful wot you say as the likes of Durby,Helx and Nickiminaj whom is still on here all go running to Admin to complain if you say anything offensive against them like the little people they are. Anyway I stand by my comments last week before my account was suspended. Hehehehe as they say.
It really would be putting all your eggs in one basket.... I am sure MNR would manage to pull it in it's own favour...something like this only pay one payment per month. I think if I were a GENL holder...I would be steering clear of another investment in a company that is getting as screwed over as they currently are...
One of several things today that really hurt Genel was the following statement / qualification:
Expected recovery of trade receivables (P22) The existing arrangement with the KRG is that the receivable will be paid from a percentage of total field revenue from the Company’s producing assets, Taq Taq and Tawke. This percentage is currently set at 5% and the KRG has stated that this will increase as oil price increases. If this percentage is not increased, management has estimated the present value of the receivable using life of field models as circa $300m million, which would result in impairment of circa $110 million.
Anything is possible let's face it mismanagement of GKP has turned a rough diamond into a tu&d!!
Strategically I think they would be a good fit and no doubt they were one of the 18 parties interested in M&A activity, however we all know we're not operating in a level playing field here and MNR/KRG seem to be pulling the strings so who knows what will happen.
Imagine the potential of a combined GKP/Genel I am sure the majors would be all over it.
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