The problem is nobody knows exactly what oil is being exported, the Erdogan government takes 30% of oil exported in a illegal deal cut in 2011/2012 by the KRG, part of that deal was Exxon and a certain Ali Khedery a Yank who as the ethics of a slug and is another YANK like Galbraith, Jeffery, And the YANK Lizard who owns a hedge fund and sits on the board of a oil company who have operations in Kurdistan . The Ruling familys are without any shadow of a doubt the most corrupt people on this planet and the MNR as at least 30 protectors who firefight everyday, as journalist get closer to the truth about oil sold, oil extracted, oil trucked..I doubt there is a single company who actually know what is sold , when they produce oil. Its also claimed they have no control over what oil they produce.
One company had an idea and that was DANA GAS, who claim $1.5 billion plus, from a couple of years back.
I would have said sell SH and AB, BB and work on SA...But what I hear from respected people Journalists all Kurdish is oil is a curse that as ruined the lifes of 100,000 Kurds who land as been ripped from under them, fenced off, KRG KDP security and barbed wire stops them farming for basic crops,.
What is in NM BOx or JG's box is of little consequence any more, the BOX belongs to the KDP and MMR.
Just get the dam thing sold now and allow people to move on, as this part of Iraq is rife with corruption, so much so, Journalist Vanish.... I would liken GKP production and DNO/ GENEL to the Bermuda triangle, now you see it now you dont.
THe KRG hold over $4 billion from oil sales in Halkbank and another Bank. Oil company's should just shut up shop and all head to the courts with Dana, OMV, Pear, MOL ect...
Most people would gladly accept 1.50 to 2.00 just to get out, Its all made in Henley , and the ruling familys are wealthy, the KDP ruling family.
LASMO eh..... one of TP's ex-outfits that he left in 1994 when this article came out :
Shareholders are nevertheless being asked to take a lot on trust. If past experience is anything to go by, the latest pounds 219m will be just sufficient to tide Lasmo over to the next crisis. The hope is that in the meantime the oil price will rise and all will be well. Given Lasmo's luck, however, it's much more likely that it won't. It's cruel to say it, but those who think the oil price is set to recover (there's certainly a reasonable case for it), might find it a lot safer to stick their money in the commodity markets.
Mr A R Peart, aged 47, qualified as a lawyer and has more than 17 years' experience in the oil industry. Prior to joining MMS as commercial director in 1994, he was corporate development adviser to LASMO plc following the takeover of Ultramar plc. At Ultramar he was director of corporate affairs for Ultramar Exploration Limited. He has a broad experience in commercial negotiations, planning, public affairs and providing legal advice.
Indeed. Payments for exported oil, payments of monies due, possible sale of part of the company or whatever, plenty of cash for the time being, plenty of time to arrange a Rights Issue and Open Offer if necessary...a very different situation imo to when Murray was the chairman.
Gulf Keystone Petroleum (GKP) has made progress in its attempts to redefine the trust deed covenants linked to its outstanding debt instruments. The frontier driller remains in negotiations with parties with regard to a possible asset sale, so progress on the proposed amendments to the notes has been viewed positively by the market - GKP’s shares were up by around 3 per cent on early trading. We keep our buy rating.
LOVL very very funny... have to say Nicki, its a spot on assumption... sadly, smoke mirrors and innuendo's are not enough, we need substance... ie a very large sp rise... after PROOF current cpr is wrong and money is now being PAID and REGULARLY no more false promises?
There's nothing wrong with Gulf, the company needs to be paid by the KRG.
Gulf have been VERY POSITIVE today about the establishment of a regular payment cycle.
And of course Joanna Southcott's Box featured in the introductory remarks. Well, the Shaikan Fracture Porosity actually, because one can hardly expect to see a Box on the front cover of the 2014 Annual Report and Accounts, but that's the key item inside the Box for most of us!
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