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So roughly getting $21m for next 12 months cash. So $250m in kitty by 2022. Remind me what is the mcap? We should be trading at £3.50 by 2022. Yawn.
Theoryman, I can now answer your post how I got my $2.5m arrrears figure: used the right numbers with the wrong name for them (I called my gross barrels figure "working barrels"). In short, a fluke for thick retail like myself.
Broadford Bay, I agree about the ambiguity on the length of the PSC. I expect it is deliberate. It allows rampers to have it one way and for a value shock to be delivered to some investors if PSC isn't as long as they think. I asked a question about it at the last AGM and was confused by the answer I got. I will have to ask it again, this time more precisely: which year does our PSC terminate in? How many barrels do you think we can get out before it finishes? Thanks for your help: I've located a model version of the PSC.
Nufc9 Sorry I didn't answer your post properly before. Congratulations on your gains.
SurreyScot, the probability of a successful takeover tomorrow is 2.74 x ten to the minus 4 if a successful one is certain to happen in the next 10 years. We haven't had a successful one in the last ten years. The EV/2P appears to make us the cheapest E&P but that's because the PSC sends most of the cash flows to our host country, so that metric is not necessarily predictive of future riches coming our way.. However the strong cash flow should mean we get some decent dividends or buy backs which should support the price. JMV.
Suppose the repayment agreement remains the same, as does production and PoO at this month’s average so far circa $64.9 and the payments get back to by end of month; then by end of April there will be circa $17 million of the $73 million repaid.
Add in a bit of loose change and they’ve got the $20 million needed to kick on to 55k bopd and I can re-reset that particular spreadsheet.
Today was a good day for GKP, i don't care if it takes all year they have shown intent to pay arrears ,we move on.
Edit, you are correct, I had reset production to 55k to answer a query from someone in a what if scenario.
I get $18.8 million export net.
Plus GKP (ordinary) monthly of $18.7m
Assuming 44.4K bopd for 28 days av Brent $62.3
Export net $23.3 million
Debt repayment net $6.1 million.
Will need to double check later!
What's your number(s) for Feb?
Just reset the spreadsheet to reflect gross field production, outcome is $2.58 million, so rounds to the RNS $2.6 million, did not see that coming and it’s a good news surprise.
"WOW! Seems the arrears payment is based on gross production and as opposed to the working barrels mentioned in one of the other proposed - will lead to a much faster period, about twice as quick :)
The standard monthly payment was within my plus or minus $0.1 million - so no surprise there."
Yup
$14 million in Jan, $21.9 today.
WOW! Seems the arrears payment is based on gross production and as opposed to the working barrels mentioned in one of the other proposed - will lead to a much faster period, about twice as quick :)
The standard monthly payment was within my plus or minus $0.1 million - so no surprise there.
Well i'm happy they have started paying some of the arrears.
RNS Number : 5376R
Gulf Keystone Petroleum Ltd.
08 March 2021
8 March 2021
Gulf Keystone Petroleum Ltd. (LSE: GKP)
("Gulf Keystone", "GKP" or "the Company")
Shaikan Payment Update
Gulf Keystone confirms that a gross payment of $25.2 million ($19.8 million net to GKP) has been received from the Kurdistan Regional Government ("KRG"). The payment is comprised of gross $21.9 million ($17.1 million net) for Shaikan crude oil sales during January 2021 and gross $3.3 million ($2.6 million net) in relation to the arrears from the outstanding November 2019 to February 2020 invoices. Following receipt of the arrears payment, the current outstanding balance is $70.7 million net to GKP.
This arrears payment is in line with the KRG's proposal and corresponds to 50% of the difference between the January average dated Brent price and $50 per barrel multiplied by the gross Shaikan crude oil volumes sold in January. The Company remains in a constructive dialogue with the KRG to finalise the repayment terms.