How is the 650,000 made up? 550,000 to ICG and 100,000 to pay oilers. So much from kirkuk and how much from the oilers, So my question to you guys in the know is what percentage of the extra 100,000 is produced by gkp. If its 20% say, then we would be entitled to 20000bpd worth of money? Anyone know
We touched on this before. I confess I don't understand why GKP should not have to comply with UK governance, one thing that struck me after out last exchange is that exempt companies in Bermuda lose tax exempt status next year. That may drive a desire to move tax residence or sell off assets this year..
Thanks Del, i really think this could finally be the catalyst that finally takes us back where we should be. Non payments are the reason and no one can deny that Just maybe we are about to start seeing full payments to KRG and then more and more to us.
This 17% will make Kurdistan financially secure, Even if they do not use it all for now to make back payments, very soon with sustained production and payments it will filter through and that would be a game changer. I remember wondering if there would ever be a oil and gas agreement, i remember wondering if independence was going to be allowed by USA et al and so if we would ever get paid. Now we are finally seeing the end of what made this high risk, and remember its always been said the early companies in Kurdistan would do very well if they got it sorted. We are so close now, i would not bet against 45p tomorrow and i can not wait to hear how much the companies ( not just us) are going to get. Game changer knocking on our door
i do not understand the negativity here today Things are actually looking better now than for months.
It seems there is those that think that Baghdad pays KRG and next day money is in GKP bank account, This is not the school playground sharing out sweets.
The money as in amount is decided in Baghdad, this is confirmed and then KRG informed on how much. Then the money is sent and arrives electronically to KRG. Who then need to sort out finances for their economy and wages for people. This may include historic payments. Then look at how much is required for payments due this month for each company for oil. Then with money left over work out a fair way to start distributing any back payments to such oil companies. Finally i would expect a few million to become a buffer in the account due to any unforeseen issue in future. this last would be prudent and what any company, govt or individual would do in similar circumstances.
So lets not expect to hear that KRG have been paid and then GKP been paid next day, i would suggest that the light at the end of the tunnel is now brighter than it has been for over 12 months. There are those saying KRG are not paying companies since getting full payment, thats not true as we are still waiting to see. If all get full production costs for the month it will be a huge plus, if on top they get some additional back payments then either we will finally see a sustained rise or good bye GKP, Hello takeover. I do wonder sometimes on here if the negativity at times like this, is due to some with shorts are bricking themselves and one thing I've learnt about shorts is when they drop they leave you quite vulnerable.
Just my glass over half full view and some may wish to ignore my opinion.
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