We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
well nice to the SP rise a tad. Of course it will fall again tomorrow, the brokers want champers to go with the lap dancing
They say never argue with a fool in public as onlookers wont know which is which.... theres ya 50p....your welcome
You do understand the Iraqi politics don't you, how long do you think the NOC draft law will take, Hmm lets think about that for a moment.
Did you want to come back at me for the LOL, please do.
- To recommend to the House of Representatives to wait on the approval of the draft law on oil and gas until the completion of the draft law to amend the law of the National Oil Company and the completion of the draft law on oil and gas before the Council of State."
Did actually read it ccc??... it doesnt suggest anything like being on the 'back burner' as u suggest!.. it simply states the the O&G law will not b approved until the amendment to the NOC and the completion to the council of state...so thanks for confirming not on back burner as u suggested!
Your welcome ; )
" The Council of Ministers held its weekly session on Tuesday, October 1, 2019, under the chairmanship of Prime Minister Adel Abdul Mahdi, below is The Council of Ministers decision .....
2 - To recommend to the House of Representatives to wait on the approval of the draft law on oil and gas until the completion of the draft law to amend the law of the National Oil Company and the completion of the draft law on oil and gas before the Council of State."
Best try keeping up dodgy, keep puffing the old chest.
My LOL was for a article i found this morning about Rosneft starting exploration in Kurdistan, only for a few mins later found another article saying they have suspended work, get a grip man and yes i will crack on, thanks anyway.
RE: Share price.Today 10:52
Hadn’t seen the comms that PF2 was back online? I recall they said it would have to be offline in October but wasn’t sure for how long.
No they av not communicated that yet as i believe it will b in a week or 2. I was simply stating the current production with both PF1 & 2 when online.
I note ccc then puts 'lol ' to something that could b construed as negative to kurdistan!! Yeah says it all....crack on ccc...got ur no. ; )
Hadn’t seen the comms that PF2 was back online? I recall they said it would have to be offline in October but wasn’t sure for how long.
Eh???... pmsl.. so revised 30-33k 2019.... there is ur answer..we r nearing NOV 2019, u do understand that dont u? Im not interested in wot the average is for the year as that is largely behind us!!! We r currently 38kbopd with pf1 & 2 online...we now av SH 12 to add to production altho nos not known yet. So we should b above 40k bopd very shortly... so u go do the math... try looking forward. As for O&G law, signing an agreement with SOMO would certainly go some way to applying the O&G law so just dont c how its suddenly on the back burner! Also i forgot to add to ur quiet period is the possible FDP agreement, but im not sure that will add too much but nice to get signed off.
Im sure celicourt comms r up to speed ; )
" Quiet period???... SH12 to come online so we will av additional production, shut down of pf2 coming back online, pf 1 hook up to main pipeline negating the trucking costs and risks completed and starting anytime now, then we av SH 9 gas re injection drill commencing"
2019 gross production guidance revised to 30,000-33,000 bopd, Go do the maths, work out the ave monthly production figures to date and then calculate Oct to Dec production to achieve the companies 2019 guidance of 30-33k bopd, do let me know what you come up with and that's with PF2 back online and SH12 producing, hopefully we get detail of this well in the next week or two.
As with the politics, you did not read my post did you, i said the O&G law is NOT on the agenda and is on the back burner.
Quiet period???... SH12 to come online so we will av additional production, shut down of pf2 coming back online, pf 1 hook up to main pipeline negating the trucking costs and risks completed and starting anytime now, then we av SH 9 gas re injection drill commencing... KRG and Baghdad coming to agreement hopefully by month endish, ive read a few reports now suggesting pen to paper regarding the agreement of oil to SOMO for the budget, so dont know where u get on a back burner from?... its funny we not had any positive press given our progress, but then why would the city want that when they want to accumulate!.... strange business this ... i mean currently 480m market cap... we will av more in the bank soon!!!...... wonder when ferrier is gonna pull his finger out his arse, hes giving neil woodford a run for his money at failing to increase value!!!!.......
Surprised celicourt comms doesn't know all this?
There are 3 main reasons for share price rises.
1, Positive operational news release.
2, Oil price rise.
3, Politics.
I am not expecting any major forthcoming operational news for a good month or two, the company has already readjusted the full year daily production at a lower end than anticipated earlier in the year, so nothing will happen substantially by year end, that's not to say we may get some updates of field progress, but most of this is whats already been planed and we are all informed via RNS's.
Oil price has stabilised at today's levels, something what Trump wants and even the Saudi, Iran threat has had little effect, with Trump verses China saga looking like it will continue, the wider effect on world global downturn will always suppress the oil prices.
Politics, well there is always hope !!!, Erbil and Baghdad being buddies at the moment is great, however no substance has been made on the ground to enable share price sentiment going positive, sure a deal may be made with budgets ect, but the real positive for GKP will be the adoption of the O&G law, unfortunately this is on the back burner with far more important issues to focus on, both internally for Baghdad and also between the two parties.
We are in a non event window, with little to get a positive share response, the buyback and dividends did not have the desired impact.
The share price will bounce around these levels until we get the news of increased production towards the 55k target, then imo today's levels are gone, any increase of the oil price will have a greater impact and likewise with any positive political developments on O&G law, but i am not holding my breath on that one and depends if Adil Abdul-Mahdi is still in his position.
Early next year we should know a little more around the FDP and possible new CPR.
It's frustrating at the moment, but we are if all goes to plan, a few months away from seeing better day's.