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Looks to me Barzani is doing just fine stitching up the IOCs in Kurdistan!!
He probably likes the pipeline closed while making $40 a barrel of everyone.
Eventually this has to stop because his country is about to implode on itself very soon.
Does he care probably not and we all thought things were improving 🤔.
To much thieving and lies by all.
I think you’ve hit that nail on the head … 165-195 incoming this year !!
Next week, fireworks!
Great news there ‘ponzi :)…… 190s sounds very OK to me !
Haha. The 00k was a mate of mine. In small.
I'm here don't worry !!
Will we see 90s next week ?? Absolutely we will
113 to breakout of this quagmire
Purchase of 100k 2.15 pm followed by sharp increase. Personally I wouldn’t spend 107 k without knowing something. If I had 107k to spare.
Not much chance of a post from Itzaponsi today.
It's happening fellas, everybody onboard?
A potential breakthrough right here. Lets up Erdogan turns up this time and isn't weakened after last weeks announcement he's steeping down at the next election.
'Ankara has long been pressing Baghdad to designate the armed group a terrorist organization. But the central Iraqi government has deemed Turkey’s operations against the group and its military outposts in the Iraqi territory as a violation of its sovereignty.
Thursday's move indicates that the two countries’ positions on the issue are becoming more aligned as preparations are underway for Turkish President Recep Tayyip Erdogan’s upcoming visit to the country in April. The Turkish leader’s visit will mark the first of its kind for more than a decade.
“The parties stressed the importance of Iraq’s political unity, sovereignty, and territorial integrity,” Thursday’s statement said. “They have also stressed that the PKK constitutes a security threat for both Turkey and Iraq.”
"Surprised at you putup.
With zero visibility for sales you want a buyback?!"
Yep. No need for $82 million to sit on the balance sheet and a great time to mop up the free float. A dividend doesn't do that. Most divi recipients reduce their value at work by banking the dividend.
Meanwhile, Build a new pipe (they will assume the AKIPUR consortium will pay for it) - while the tribals agonise over how they will divi up the spoils from the free oil we gift them.
That’s how crazy this has become.
@Armas, there is a counter argument about the message that might end up being sent.
One problem with dividends is that it allows investors to take the cash and not re-invest it in the company.
The message that sends is that even holders think there is better value to be had elsewhere and they want non-holders to do the buying and drive the ex-div price back up.
If that doesn’t happen the total return from the dividend distribution could end up neutral, the income gain is offset by the capital loss of it going ex-div..
The buyback requires those who want to take their cash distribution out to actively do something I.e. sell a proportion of their increased % holding in the company. Given that many, if not all, of the LTH have demonstrated an unwillingness to sell at any stage, then that should boost the effect of the buyback.
Yes that would be brilliant, while we either wait for the crude export pipe to flow or existing contract expire. would inject new life and capital into this stock for sure. 18 months is not long in investment terms, especially if being sweetened by that scale of reward.
A buyback?? Give a dividend if you want to send a message. 25ml. And plan that per annum, ie 10 percent
Surprised at you putup.
With zero visibility for sales you want a buyback?!
@rog, Im in England, just up early for Ramadan.
From Advfn - KRG we’re represented at the meeting.
https://twitter.com/john78846295/status/1768312605070733501
Very interesting development, thanks for the early research, or are you in a warm time zone like me?
If at long last the Turkish conditions for a presidential visit are falling into place we can only hope that our issue will be a part of the grand agreement announcement the senior politicians like to make in person.
As I said yesterday the PKK have been served up as the sacrificial lamb to celebrate the new Turkey and Iraqi partnership. KRGs silence on the matter speaks volume. I wonder what they are getting in this deal.
The silence from Iran and US is also telling.
https://www.al-monitor.com/originals/2024/03/iraq-bans-pkk-security-ties-turkey-gain-momentum
PUTUP I now agree that buybacks at this (low) point would would be a welcome initiative towards some share price recovery. Surely value accetive at this level. $25m would be enough to spark the apothecary’s magic. And let’s face it, if the company is doomed we will never see that cash anyway.
Buybacks and then a positive statement from AKIPUR on the ITP would bring springtime sunshine, like the clocks going forward in Wales.
I think you're getting common sense mixed up with politics, they don't care about the lost revenue it's not coming out of their pockets. BUT, one way or the other I'm confident there will be oil flowing, just a matter of when, I've bought up to my limit and can wait a month, 6 months, 2 years for the pipeline contract to end, will be a good retirement investment.
Since October 2023 - when Turkey lift the force majeure and green light restart of flow - Baghdad is being debited $30m USD per month. Approx. $180m USD as per today and $360m USD per year.
Baghdad could flip this losing hand to $1B gross revenue per month, with the start of exports. (friendly reminder that Kirkuk SOMO oil also went through the pipe).
Follow the incentives. Load up. Cheers
DNO, GKP and Shamarans pays approx. $15-16 per barrel for midstream transport, storage and loading. When I talked to management at Shamaran and DNO both confirmed that +90% of these costs lands on the side of Turkey. One can then conclude that Turkey gross income for a open pipe is +$1,500m per year, every year. Substantial.
I might get a rebuttal that the (Botas) pipeline fee is not $15-16 per/b - but that's not the entirety of the cost structure. Turkey makes a killing here and it's in that context we should understand their constant eagerness to restart the exports. Not to mention the "quality discount".
The more disgruntled retail holders that can be mopped up the better. Plenty still prepared to sell at or near current levels.
The original Pipeline Agreement was dated 27th Aug 1973 and was subject to various addendums in May-76, Dec-80, Aug-81. July-85, Mar-96 and Aug-07. Although due to expire on 19th Mar-2010, a further Ammended was agreed and signed 19th Sept 2010 (the current one) with a validity of 15 years.
Expiry is therefore 14th Sept-2025, in 18 months time.
BOTAS have lost a LOT of money over the years maaintaining this pipeline infrastructure and if the agreement is extended you can bet your boots the currently-agreed $/bbl tariff will be substantially increased, as will the Minimum Guaranteed Throughput.