t8ss what the sp is currently at. We all know its been hammered down to unfathomably low levels because someone wants it there. When it's ready it'll magically go up again. Sentiment shentiment, it's manipulation that's all it has ever been. Deep down we all know that. Sp's don't drop like this has...especially when we won our historic court case hands down.... It wasn't sentiment that pummeled us after that either. My 49.9 p buy Friday is actually showing a profit for a change and I'm happy to buy a few more if it drops below 50p again Gla
even with that production level, GKP is a definite multi bagger in the future For the short term, it has hit its base and is now shooting up with the guranteed news of approx 40k production levels considering the last RNS was 13th November quote: The Company is on track to complete all remaining work in order to achieve 40,000 gross barrels of oil per day ("bopd") of production capacity from the Shaikan production facilities ("PF-1" and "PF-2") by the end of 2014.
Just to put into context LGO (LENI GAS Energy) is producing 1000 bopd and is valued at £100m and a 60m reserve size GKP is currently producing 10,000bopd and is valued at £450m and has a reserve +1bn Payment is the only hurdle, which as can be seen has had progress
Last week’s oil agreement between Baghdad and the Kurdistan Regional Government (KRG) was a milestone event and the market reaction was largely fitting – Brent crude futures dropped nearly 3% and regional operators all saw a considerable boost in share value as production and export growth is expected to rise across Iraq. Still, the specter that is the Islamic State (ISIS) darkens what was a bright day for Iraqi unity and remains a significant stumbling block to the country’s rise to oil-superstardom.
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The deal temporarily puts an end to Baghdad and KRG’s conflicting interpretations of oil-sharing agreements spelled out in Iraq’s 2006 constitution and allows for the immediate export of Kurdish oil. In all, 300,000 barrels per day (bpd) from the still disputed Kirkuk region and 250,000 bpd from Kurdistan will travel via pipeline to Turkey, where it will be sold by the state’s oil marketing organization. For its part, Baghdad will resume budget payments to Kurdistan and provide $1 billion toward salaries and equipment for Kurdish peshmerga fighters.
It’s all part of a plan to rejuvenate Iraqi oil production, which has struggled to live up to its potential amid the conflict and turmoil that has defined the past decade. Currently, Iraq produces only 3 million barrels per day (mbpd) of crude oil despite a heap of interest from Western majors. The International Energy Agency (IEA) estimates that current contracts imply a nearly five-fold increase of production by the end of the decade. In actuality, the IEA predicts more modest – though still impressive – output of 6.1 mbpd by 2020 and 8.3 mbpd by 2035. Under this scenario, Iraq accounts for 45% of the total growth in global oil output toward 2035.
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