Perhaps that A level student does not yet understand that -
1) $180m is gross - only $135m of which GKP gets to keep (read the payment RNS - "gross", "net"). 2) Cash burn to run the company is appx $8m a month. 3) Coupon payment on $100m. 4) Various payments GKP needs to make to KRG per the PSC. 5) And some $80m that is required as an urgent capital investment to keep production level at 40k bopd and perhaps increase production to 55k bopd.
Bottom line - in 12 months time, the company may be in another sh1iye situation.
So looking at the raw facts we are a company that turns approx $180 revenue/year with a balance sheet stating almost $110m with a mid to long term debt of $100m. OIP figures suggest upwards of 1bn and we are currently sitting at a market cap of $300m haha what a laugh...
Seriously an A level financial studies student would be able to value GKP and its a lot more than the current market cap. The BoD need to dismiss the derogatory $300m DNO bid and also recognise back costs on the BS, these two actions immediately call for a re rate to 3-5p and that's before any takeover speculation.
See gkp.iii Nice one from the Good Dr. Today - he's made that statement to ensure a big chunk of the pending IMF loan comes via his MNR cashbox. We won't see much of it however - it's bound for the usual recipients. How can this go on undetected and unpunished ?
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