leeds - I wouldn't say it was good business especially when the company was in a dire financial situation. Long term, the deal could have had some benefits... aka jam tomorrow, but there won't be a long term here unfortunately.
Afren Plc; independent exploration and production company in the oil and gas industry. Address: 10001 Woodloch Forest Drive, Suite 360, The Woodlands, Texas 77380, USA, (Registered 2 July 2012) Talisman Energy Inc; independent exploration and production company within oil and gas industry. Address: Talisman Energy Inc., Suite 2000, 888 3rd st SW Calgary Alberta, Canada T2P 5C5. (Registered 12 June 2013)
Take Afren Block Barda Rash, Ain Sifni ,said to be worthless.
Ian Hannam, Hawrmi's insider trader and JPM before he left and set up on his own after being fined and taking the fall for Hawrmi?
Page 25 amount paid by Afren Shareholders for two PSC shared blocks in Kurdistan $ 589 million .
Same page Taqa paid Aspect Energy "Ge Exploration $600 million for a 51% share of Atrush PSC in December 2102, and remember it say 2 years since any signifcance activity in December 2015. That is 3 years and Ian Hannam and Hawrmi have not disclosed the figures of TAQA purchase
TAQA buys stake in Iraqi Kurdistan oil block for $600 mln Jan 2 Abu Dhabi National Energy Co (TAQA) has bought a 53.2 percent operating interest in Iraqi Kurdistan's Atrush oil block for $600 million from General Exploration Partners (GEP) Inc. A TAQA spokesman said on Wednesday production was expected to start in 2013 and the acquisition would be funded "from corporate resources". GEP is a venture between privately-held Aspect Energy, which owns a 66.5 percent interest, with the remainder held by a subsidiary of Canadian group ShaMaran Petroleum. The acquisition marks the first time the Abu Dhabi-based company has operated an oil and gas project in the Middle East. "It's part of our strategy to expand in the MENA (Middle East and North Africa) region," the TAQA spokesman said. An autonomous region since 1991, Iraqi Kurdistan is often touted as one of the final frontiers for onshore oil exploration and has signed deals with foreign majors such as Exxon Mobil, Chevron and Total. But those deals have angered the federal capital Baghdad, which rejects oil contracts offered by the Kurdistan region's government as illegal, and has blacklisted some firms that ventured north. (Reporting by Mahmoud Habboush; Editing by William Maclean and Mark Potter)
Of course the above is just speculation and conjecture
Enigmatic1 - Clearly you do not understand the A, B, C of investing. To start with, I gave a 5p target before the restructuring news was announced. Once the restructuring news was announced, I gave my 1p target.
Do you understand the concept of risk not being static? Go on throw some more BS .... perhaps you want me to tell that in 2009 I predicted a 1p in 2016.
Fraud? I think you do not know what that means. You have committed the biggest fraud on yourself .... through your delusion! As somebody said ... look in the mirror .... you will see the "Fraud Alert" glaring back at you.
In order to force a creditor court re-structuring ,a company need to default on its payment or force the default …otherwise this can be challenged in Court ! GKP defaulted on its payment so early....may be I am wrong here ...they were not thinking of the dilution in favour of the Bond & Note holders at that time when they were getting rid of the assets !
In order to achieve maximum dilution in favour of creditors ….the default needs to happen first and at the same time the assets of the company need to be stripped …good and proper!
If the shares were valued at 1p now , there would have been greater shareholders protest ..best to leave everybody in hope until the legal issues are sorted before making the next move!
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