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Hard to know FH1 , wouldn't out it past the Kurds to play one against the other and who could blame them after they have being shafted so brutally and so regularly. Re HCL if the MOC has share holders than that would matter ( some what ) but if it's a NOC then no issue.
Yep up for sale. Probably the reason why CFO has left and no new one announced. Who’d want the job. Expect they will anounce that some internal person has been shadowing and will continue until the sale. Waiting for O&G agreement to be announced as probably can’t sell GKP without that in place. Baghdad would porbably say that any sale is not legally binding so IOC won’t want to commit. Russians probably not allowed to bid on this one as US have blocked it. Even Chinese might be blocked. Trump will want to see payback for all the military spend.
I cant really see the point in diversifying if the Company is for sale .
GKP has always been a one trick pony - Shaikan.
Stray remember that forecast profits are AFTER taking depreciation charges... hence true cash operating profits will be much higher. EBITDA is a better measure.
Ss,
I can think of at least one drill ready with proven reserves in European waters with existing infrastructure. I left the industry a few years ago now but I doubt if would take me too long to find more that are ready to go.
Just the useless Bod here have no interest or skill set to do it.
So back in 2011/2012 didnt PEEL HUNT av a valuation of 524p or something around there?... that with no reserves, no income no clear title, loads more shares in issue.....yes the POO was higher but how did they manage that figure...now they give us 381p!!!....... wot a bunch of peelhunts!!.... now weres that ceo?? Cat got his tongue again!!
surreyscot,
Good get on those Peel Hunt forecasts surrey.
They forecast 2020 with revenues at $340m developing profits of $109m. To get there they’ve assumed 55k bopd from Q2 next year.
My forecast is $310m showing $110m. The sales discrepancy is because I’ve assumed 55k bopd from Q3 as per the latest update, not Q2.
More worrying, their 2021 P&L performance is showing revenues up to $507m and profits at $218m.
And I reckon the only way that makes any sense is if we go straight to full year production at 75k bopd from the start of 2021.
But that part of phase 1 development is not yet sanctioned and I believe it to be FPD approvals dependent.
In any case the projected time frame for the move to 75k bopd is 18-24 months.
Thing is, if they are making those assumptions and recommending accordingly , if we don’t meet their unrealistic forecasts then it’s likely to adversely impact the sp.
Far from £3.81 we might be looking at something very different.
highlander1970, because of the 110,000 bopd plans, GKP would not have more than perhaps $50 million to invest in non-Shaikan opportunities. And that would mean reversing what they have told the market and potentially cancelling shareholder dividends.
You seriously think it is easy to pick up good non-Middle East assets for $50m? What sort - high-risk exploration which is very unlikely to find anything? Producing assets which everyone is after? No bargains to be had there, I’m afraid. btw take a look at the mess at Tullow.
Your strategy appears rather like someone with a Bugatti Veyron who is stuck in traffic, thinking of swapping it for a skateboard. In any case, the MNR pay GKP regularly.
Much better to wait and see who wants the Veyron.
IMO
Yes I agree once the 100 mill is payed off we will be a debt free company which in the oil sector is unheard off, then people who take notice of us !
Gkp need to pay off the 100 mill they owe at a 10% coupon instead of borrowing more.
Once that is done they should use the cash pile to diversify out of the middle East and get so stability.
If they can't or won't do that then sell it at fair value and be done with it.
GKP being a boring Oil Co isn't helping the PIs, GKP needs to borrow that $100 mill and get the SP up by buying hard , £10 is where we should be now.