I cannot tell you my disappointment, of 11 million excess offered me I opted to take 7,600,000, I have so far in two tranches been given my open offer and a random 2,800,000. Can anyone side light, is that all I shall receive from a packed back excess? Asked for 7.6 million get 2.8?? Can anyone clear this up, should I expect more before Friday The 7,600,000 are still the same in my account, fully paid but not active?
I sincerely hope we don't see wild valuations however I do hope to see either a sustained incremental rise to its true valuation based on a very conservative CPR or a reasonable takeover/merger valuation in the near future.
Personally now the ownership has changed hands I don't think GKP will realise it's true full value. However near term target price for me should be in the region of 4-5p which is achievable given annual revenue even based on 'regular' receipts of $15m/month equate to $180m/year.
- increasing POO - 89m back costs due + adjustments from PSC changes - Sentiment returning etc - debt now of a manageable size - significantly improved liquidity
The obstacles remain in place with the level of corruption across MNR/KRG but I am sure IMF will tackle this to some degree before releasing monies.
Topulentia - You insult your own intellect! Look at all your "it will be rude not to top up" messages from many many many many multiples of today's price! Even at the very bottom that this share has ever seen, your "another top up" is loss making. So stop talking about me insulting your intellect - you don't need me to do that - as your intellect is on full display out here for pure comedy value :-)
Pete - Pethaps you should then take your complains to the BOD then! The restructuring valued the company at around GBP 200m (plus $100m debt). Immediately after the restructuring, GKP is trading at GBP 285m (mcap) + $100m debt. Yet nothing has changed on the ground.
So Durby working on your assumption that valuation is based on profitability I guess you need to revisit the market cap of Twitter, Facebook et al. These companies were valued in the billions way before they turned a profit (its called potential) and that's exactly what GKP has.
Albeit that the assets owned or should I say the PSC owned has vastly diminished due to the relinquishment of AB licenve they still hold the licence to produce from one of the major onsure discoveries in the world. Unfortunately corruption within MNR/KRG has crucified value here.
Now the city boys have the asset let's see what develops
i am going to take issue with you. i do not believe the EV (MCap plus debt) is too high based on comparators even allowing for the discount to brent the oil sells for and the costs of transport etc.
but without question many of the shares (shall we agree some 60 to 70%) are held by bond funds and pi/ equity funds who are in the money at this sp. for that reason there will be a steady stream of sellers. this will hold down the price and prevent normal rise due to market buy / sell ratio. but i think if it was going to hit 1p it would likely have done so by now (unless of course poo starts a serious fall or cash is not received generally as expected..)
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