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Oops, wrong currency.
Point being GKP is massively undervalued right now and will remain so until the ITP is re-opened.
And that will happen albeit under different trading terms.
Value they can have it all for $40 a barrel!!
'The current market cap is $323m...'
Current market cap is in fact c.a.$247m.
Not $323m.
What's happening to you Man? Depressed? Unhappy? Wishing you'd sold more @ £3.20?
Aren't we all.
Cheer up pal.
We're on the right path, even though it's rocky and we're only wearing flip flops!!
Https://oilprice.com/Latest-Energy-News/World-News/High-Oil-Prices-Force-the-US-to-Abandon-Its-Latest-Attempt-to-Refill-the-SPR.html
May be they should buy Kurdistan oil, they can buy it really cheap if they can pretend to be local buyers!💰
"Or 24M per year which equates to a full 10% of current market cap. "
The current market cap is $323 million...
1 year and nothing still! Total stalemate
Also another question which is currently unanswered but I believe we do have the answer here is "why is there a regional shortage when companies like GKP are producing so much heavy crude". We know they are producing to local markets????
See extract below from just a few days ago.
Last year’s massive budget passed in part because of a prior deal between Baghdad and Kurdish capital Erbil that gave Iraq’s federal government the power to monitor and audit the KRG’s oil and gas income.
However, even since the deal was agreed, the KRG has often circumvented the federal government and sold natural resources directly to foreign partners, leading to tension between it and Baghdad.
and the link below to give full context and flavour, as it appears things are most certainly happening right now.
https://www.aljazeera.com/news/2024/3/28/iraqs-overreliance-on-oil-threatens-economic-political-strife
In addition to increased pricing for heavier local crudes, the first sentence is also encouraging "Given the shortages of heavier crudes in regional markets", which clearly states demand is higher than can be sourced. Also means there is clear opportunity to produce higher rates if able.
DNO has a very slick manager (who speaks the lingo) and a dynamic management team, coupled with several World operations/markets …… so they can (and do) play hardball with their customers.
I think we would notice a few changes if they bought us out. 🙏
Or 24M per year which equates to a full 10% of current market cap. Think we've been in the doldrums too long now.
Gkp sales were good on the last report, if regional prices being paid are mirrored which I expect they are its a decent uplift to GKP income of about 20%, so not small beer.
DNO today:
"Given shortages of heavier crudes in regional markets, DNO negotiated with its customers to nudge Tawke/Peshkabir prices to the mid-USD 30 per barrel level. DNO share of sales continue to be paid directly to the Company in advance of loadings."
Looks like a tight market. We're going up, gents.
while gkp get $10 less that's a lot of lost cash !! another will add to tge fcf . if they are getting more maybe an update is in order. but gkp previous record on updates is ****e
DNO which had 'low $30s' as realized local prices in Q4, reports today that they have nudged up the prices to 'mid $30s' via negotiations.
Mad hatter Paul's repeater station
“ 400k bopd exports from #Kurdistan included in 2024 budget. Baghdad needs those exports to pay for salaries.”
See my post earlier today, they have replaced the 400k bopd from Kurdistan with 300k bopd of their own.
Whilst it’s 100k bopd less than the budget requires, they are getting a far higher price per barrel than the $70 per barrel needed to balance the budget. Judging by the price they got in December they are pulling in the same as Brent FOB.
They do not need the Kurdish oil to pay the salaries, they are currently running a surplus budget without it.
Didn’t they already sign an agreement to receiving a % of the Iraqi National budget to pay these mysterious local salaries as part of the SOMO oil marketting agreement ?
They also receive free oil from we mugs - when they see necessary, if that is not enough.
Guess it’s best to have their hooves on the oil sails cash, and then decide who gets what out of the oil sales loot, secretly within Erbil.
….. and so it goes on, and on, and on.
Very significant breakthrough in the wider context of negotiations...
https://twitter.com/john78846295/status/1775531062325903662?s=19
R u condoning genocide?
Pay no mind to Armas, it’s time for his nappy change.
Omg is this where we are, hamas butchers are ignored just so we can attack the defenders of its people that get bombed daily. I bet your the type of idiot that think the lgtbq community would be thrown a party on arrival in gaza.
Why are the arab nations refusing to take the blood thirsty Palestinians in as refugees?
Anyway, my orginal point remains. If the war in the middle east expands into neighbouring countries then Turkey will almost certainly get involved and the Us will likely use the pipeline as a chess piece.
The only people losing out here are the collective West and Israel on everybody knows it. Israel committing genocide and the fact that Erdoğan is the Sunni patriarch means we are in a very diabolical situation
More of a short inconvenience on land.
An underwater gas pipe is a different matter.
The Us gov may do what they did with the Russian pipeline if the Turks step out of line in the battle in the middle east. It is looking kore likely ramp up and Turkey do not support Isreal. The Us could blow up the pipeline as tactical move. Has anyone thought of this?
There has been a lot of focus on this “lost” revenue e.g. in APIKUR press releases but how is the Iraqi budget doing under present conditions?
Towards the end of their last financial year, they were running a monthly surplus, which significantly reduced the deficit built up in the early months when the pipeline was closed.
They have even allocated an INCREASED amount for the current budget and they are running a SURPLUS at the moment, compared to what’s required to fund that boosted figure.
What have they done to bring this turnaround about?
The budget sets out 3.1 million bopd from Iraq and 0.4 million bopd from Kurdistan, to give a total of 3.5 million bopd being exported at $70 a barrel.
They have sneakily INCREASED their own exported production to 3.4 million bopd to take advantage of the increase in the PoO in general. The price rise more than compensates for the drop in volume.
They are doing very nicely thank you, and there are no signs that is going to change, unless there are consequences when someone points out they have also promised to REDUCE production to meet OPEC+ quotas 🙄