''He says, however, that the new competent persons report, assessing Shaikan, due in the first half of 2014, will be conservative and he estimates proven and probable reserves will be 400mln barrels gross, or 218mln barrels net.
400min !! thats some 600min short of what i thought was already a poor figure.
What Westhouse have done is removed the 'sell' rating and kicked us in the bollux at the same time.
Ref Genel, each to there own, certainly not advising anyone either way. Holding both
Could it just be that genl are £10 a share and still an AIM share, may just seem to rich a price for many, also they've not been hyped up like gkp, to many a novice if , lets say your buying £5 k woth of shares you dont get many genl for ya books,,,, but lets say ya buy the same amout worth of pxs you get zillions lol,,,, but as many experienced know its the %age rise that matters , not the amount of pips a share rises, just my 2 bobs worth, right back to hibernation, BW all
Spot on mate. As I say, we cant afford to make it to 2015. We dont have the money. Being bankrolled by the Rothschilds means that Genel have as much money as they like. Do GKP plan a massive share issue of 400 million new shares, diluting the SP by half, at 150p or something? That really would need to raise that much money to see our the 'plans' which they have between now and late 2015. We wont ever see 100k barrels a day. 40k will be a decent little earner next year, to prove the viability of SH and an income stream, and also by then there will be evidence that Kurdy oilies are being paid. As for carrying out the long term 150k barrel a day plan...... come on. 40k a day wont be enough to raise the hundreds of millions we need, at least not in the timescale the KRG demand. Deadlines approach, and once those taps are on in the coming weeks its going to be a whole new ball game for Kurdistan. A nailed on payment mechanism is the only thing missing in Kurdistan, in fact its been the main problem for years now. That will soon change when Turkey start paying for their pipeline fed goodies.
Just crack on with it Todd. Get the for sale signs up and stop messing about. You know whats in SH7 already, have done for years, and its just one massive timewasting exercise, dragging our heels until the time comes where Kurdy oilies are priced based on their assets due to being paid for them! $12m for SH. $0.5 for AB. $2m for BB, and who knows on SA?! Call it $15 for the lot eh? Thats a bargain for the majors, and a good deal for a company who will run out of time and money in around 6 months time and has only spent about a billion in the last 5 years..... just when SH 'proves' up another few billion barrels eh?
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