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Longer term all the oil stocks that survive will be significantly higher due to the lack of investment in the current low oil price environment. Even Buffet invested in an oil company back in March.
'This is not a short-term play' . Tell us something we don't know.
Trapped? I'm in the money. So far so good. Carry on.
If you don't like the risk best be own your way. This is not a short-term play and a lot of the time it's going to stink.
PUTUP, was that in response to me? If so, bar you get a thrill from a small divi here each year (accept this year and all others bar last year) then there's no gain to be had in this share, or company. And that is without considering the immense and perpetual geopolitical risk this region never fails to disappoint with.
Having money trapped is a double whammy. It offers nothing in return where it is, and every day its there is a lost opportunity elsewhere.
Why on earth would you expect it to be otherwise?
The reason for the lack of confidence isn't the late payments but those that are responsible for them. The KRG are much reported to be corrupt, the MNR likewise and of course the ruling families that control and carve up of the above, not to mention call the shots to whoever it is who enters the GKP boardroom who are but a proxy for all of the above.
And the really depressing news is, this is an arrangement that seems to suit the above parties rather than the much anticipated takeover.
I do hope your right. This share defies logic though.
The main problem is reliable payments from the KRG.
When regular payments started some while ago at £15 million pcm from the KRG this created confidence in Kurdistan Oiler’s. Since then we have had regular full payments up to October 2019. But then the KRG fell back into old ways and over £70 million is owed for oil deliveries from Nov 2019 to February 2020.
These monies need to be paid back and then maybe we will see some confidence return,
We are probably the cheapest E&P on the markets based on our production and reserves but there is a reason for this as explained partially above,
I first looked at this stock at 220p and decided to pass. Then came COVID and the great opportunity that came with it. Below 100p this stock is a MUCH more attractive play.
I've bought this at a high of 280p and a low of 65p. Average at 95p. For me the fundamentals still very good thus, no hesitation in averaging down. Nobody expected a pandemic or oil to go negative thus, moist oil stocks crashed. Not because this is a useless stock. Recovery is always slower but cash is increasing so share price can't remain where it is now. Dyor.
My break even will be £3.00 now after many years of investing and accumulating. Remember I have received one whopping dividend which helped a bit. Never the less this share has been an unmitigated disaster for me and many long term holders over the years. People who say they have traded the pants of this share are either the best traders in the world or bull **** liars.
Best of luck to you. Hope it works out well.
Yikes. So what's your weighted average cost basis? You've been prepared to ride the loss all the way down to 48p in return for what percentage annualized gain?
Have been here for over 7 years + and hold enough already. No need to be greedy. Accumulated before only to see the share fall back dramatically. Twice bitten and all that.
Be happy to get back to £2.50 or £3.00 and I am awf!!
I've bought a lot more in last 3 months. 55,000 bopd increase to come, cash in bank, oil price recovering well. No reason not to buy. Absolute steel at current price.
Here we go. The masses are getting all dizzy again.
I wonder how many of those wishing this stock higher have actually bought more in the last three months... The dialogue here seems to suggest a lot of naysayers who are still long (and have been wrong) and a lot of believers unwilling to add even at these very attractive pries.
Needs to finish above 100p and consolidate. We have been here before and fallen back. If so we could get back to match the GENL share price. Needs a bit of momentum though,
Oil price hits $45 and gkp at 100p. Not sure I should be pleased.