Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Ok Thanks guys, Bob
Any reason, if settlement out of court, to hold that company any longer?
And yes, I am in for some arbitration money, no LT holder, no believer, etc. :-)
If there is a out of court settlement then GENL will open easy 120p tomorrow morning
Dno going to 80kbopd this year
Because were so cheap at the moment, ???? either that or an out of court settlement announcement??
Any reason we are up 10% today?
More to come methinks
Well something's just triggered a 10% jump
The share price will know any result long before we do...
Hopefully next week, not sure how long the case will run, days ,weeks, or months??,
is it open to public?? or is it behind closed doors???
Not sure on what basis when any result wouldnt be known till end of year
I think we will see a run in teh share price as we get towards the Arbitration date cFeb 19th
Thx for the false hope :-)
Wonder whether a few punters are climbing onboard ahead of arbitration etc....or there has been a recommendation/tip somewhere. Volume is pretty unremarkable
Didn’t realise this DNO, was talked about on the other BB yesterday. May add here next week.
This is a bit of good news!
https://www.iraqinews.com/iraq/dnos-oil-production-in-iraqi-kurdistan-increased/
Https://oilprice.com/Energy/Crude-Oil/Kurdistan-Oil-Flows-Not-Expected-to-Resume-Anytime-Soon.html
Results out, $10 million per month free cash flow Kurdistan
Agreed. This is why I was quite happy to see Taiwan jump on-board in Somaliland. We have been very poor at operating fields .... TaqTaq .... from giant field to a trickle. This will remain a mystery to me. How can you get an appraisal so wrong???
I don't care about other assets, if they get their cash and sell Tawke the return would be handsome
Genel's track form on finding other assets has been very poor for years - in fact hardly existant
In my opinion if the arbitration case is won and settlement is substantial, I would like to see Genel try and claim this from Iraq and sell Tawke stake to DNO..had about as much as I can take of this ridiculous pipeline closure that is none other than political blackmail..sooner Genel exits Kurdistan the better IMO
FCFY - you appear to have a more detailed knowledge of the history of BB/Miran than I do.
At the end of the day it is for the arbitration court to decide, unless of course KRG fold. The case is due to start on 19th, so we'll have to wait and see if they do or not.
I suspect the ace up Genel's sleeve is KRG's incompetence and corruption in pulling the PSC. If the judgement is in our favour, we can all speculate how large the award should be, however it doesn't get away from the question of how/when KRG/FGI would be able to pay. Unless of course the Russians or Chinese are waiting in the background with their chequebooks.
Jc,
The development was cheap onshore wells next to existing infrastructure. Genel was open to a partner, but the FDP covered a sequential startup and development from organic cash flow.
I would say that the KRG didn't expect the field to be a giant and geopolitically significant.
Genel's pre-exploration contract was very beneficial to the company. The likely scenario was that the KRG saw, after the discovery, that it was far more lucrative and geopolitically beneficial for them to pay out Genel and take the field.
Genel's costs were $1.4B. The KRG would have had to pay much of this anyway to develop the asset, and they didn't have the expertise. The exploration, testing and FDP is now done. It's a go-ready project they are now, in a way, purchasing for cost.
It would be possible for the KRG to settle early, but the case is underway, and it will legally clear the field of all disputes in the future.
It would have taken billions to develop those gas fields. It is highly unlikely Genel could have done so on its own. I suspect part of the reason for KRG canceling the PSC was that it wanted a bigger operator with deeper pockets who could develop the fields quicker than Genel ever could. All this is now irrelevant of course. I was thinking about this this morning and wondered if there is any chance of KRG attempting to settle this early?