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ADVFN....Poor old lapdog the rabid stray... still yapping on about a company he has no interest in!.....as 4 oilcan, well as he said judge someone by the company they keep.... so oilcan lapdog and broadfraud.... yeah says it all.... job to do nothing more!!... keep trying gang, and yes theres more of them...bless xx
yes indeed i do ****eye
whether its plateaued or not, the fact is a rise is a rise. you know full well if the market didnt like it then the SP would be down double this amount. however in true GKP fashion it will probably drift a bit into the close and not end on the high of the day, but either way the market still responded positively to the news
at least give me credit for the other part of that statement though, about the advfn trolls, just noticed bigdog has logged on for his daily rant. and as per usual the bitterness which has consumed him only allows him to discuss the negatives, dismiss any positive and then just make up a load of deramping drivel to sign off
money, especially financial loss, does funny things to some eh?
they also wouldn't be doing buybacks if not confident in receiving regular cash
With the seller out and the buybacks doing their daily thing, it's got a rise written all over this again.
Looks like Merian Global Investors (UK) Limited are one of the new names buying too
hmm for sure...
10k bopd extra, no shipping costs?
'well the market clearly likes it, despite the usual protestations of the resident advfn trolls'
Indrid, you think so? The rise in SP plateaued pretty quickly. If it was a binary bet as to which way the weekly chart heads from here, I know where I'd place my money. As I said last week, its going to be a long hard slog to get to mid 200's again, never mind shoot towards the lofty 300's and I'd imagine the company just used all it's dry powder.
well the market clearly likes it, despite the usual protestations of the resident advfn trolls
again oilman puts on his cringe worthy display of self congratulations for getting the most basic of info right, whilst there is still no evidence of all these "issues" he and his puppet bigdog keep vaguely referring to and never ever substantiating?
so ANOTHER buyback commences despite broadfraud telling us all to "check our heads" if we believed the BOD when they dared to utter........."self funding".......
anyone would think its time to start exploring the possibility those 3 might not be trustworthy..............lol
pity about the delays, but all else seems OK/bordering on positive! - i mean lets not get carried away at going from 200p to 209p as it is still woefully undervalued, but i think we could be at the start of shareholders finally getting rewarded for their patience, its still going to be a long hard slog, but i reckon the worm may finally be turning..........
'I think we’re all going to be surprised at what that uplift means in real terms…..'
Straycat, the charts don't seem dizzy with anticipation though. When the charts look healthy and break out of their historical slumber then I'll start getting something resembling excitement.
C0ckeye,
I’m delighted that GKP have given up some much sought after operational insight.
The production uplifts already achieved will transform the P&L and Balance sheet of the Company in short order. And that’s at 42kbpod.
Assuming regular payments from the MNR the further planned capex activity is a self fulfilling prophesy.
Also, given the weight of capex bearing down on the bank balances (as planned), our current cash position remains robust with two further payments due before the year end.
As to your specific question-
‘how many of your list of questions did this mornings announcement answer?’
Points 10) and 12) were answered in part.
I did anticipate further buyback activity because of the unanimous voting support (99.67%) for the general authority given by the shareholders to the Board under Special Resolution 13(b) at the AGM.
I just didn’t know why or when.
So I was surprised at a commencement date so close to the year end.
I still don’t know why it was thought necessary.
As for the share price, that will inevitably conform to reflect our changing fortunes.
When I get time I’m going to look at what even the movement to 42bopd-43bopd does to our revenues, profits, and cash performance on an annualised basis.
I think we’re all going to be surprised at what that uplift means in real terms…..
and I certainly don't have short position here for clarity.
The TLW one at 200p paid off despite closing prematurely at 69 yesterday though! This is is not a TLW though ...
Gotabesirious - i agree, it's a means to an end . The capex being spent will make a big uplift to the company coffers but it's a shame the company has pushed back on the 55k target again. That said, they will receive larger payments now due to the increased production levels. The buyback will no doubt support, push the price up as the individual trades are quite large
Straycat, how many of your list of questions did this mornings announcements answer? For a company in apparent pre-sale lock down, were you expecting that?
Also, nothing is ‘outstanding’ with GKP unless the share price says so.
Enjoy the confirmation bias you receive here. Although the SP is one thing that doesn’t seem to approve.
Look at Capex commitments for 2019! Which are now feeding through into production with a circa 30% increase from earlier in the year. Nickel - please stop doing this. You seem a knowledgeable chap but keep seeing you pop up trying to spread negativity with an obvious agenda / short position. Shorting a 25m buy back programme is a brave move!
Yes, but those cash balances include c.a.$90m in 2nd half capex spend.
The cash position was $264m in September, now $206,
Edit. $275m s/b $245m.
Considering they are committing to more buy backs, they obviously aren't concerned
Nothing about the missing payments?
The reservoir is great, operations and production can be managed with delays , but missing payments killed Gkp nearly.
$206m cash @9/12/2019 + August and September invoices to be paid before y/e = c.a. $275m year end cash balances if paid.
Outstanding.
Holding up extremely well given extensive capex. Production at 42,000 now means significant cash will flow into the business, hence another buy back programme. Deferral of 55,000 target by a couple of months is not ideal but overshadowed by the much more significant positives in this RNS. Great progress!