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With oil price going up am sure they can negotiate a better price.
Clear now was a paid hack to keep buying up as off loading was going on.
Actually I won't bother. Nice to watch an employee. You are clearly hired to work these boards, odd as that it. A member since June, and boy you have been busy.
If GKP is selling $12 a barrel (39%) 23,000bpd = $8,280,000 a month
$6,000,000 cost
Around 2 millon in profit per month
Jadams what are you on about? You really have no clue. Filtered
Before it becomes a 50p price
Hasn’t Tawke been restarted by DNO and oil being sold partly to KRG and partly trucked?
Genl has been stable and we have dropped around 20p since we confirmed the extra sales covering all our costs...have I missed something as to why we have fallen so hard yet our peer hasn't ?
The Iranians have been causing mischief in Iraq for years. They being Shiite and a majority of Iraqis being of the same sect gives them leverage but the difference is Iranians are Persians and Iraqis are Arabs which I’m paper wouldn’t look a big deal but culturally it’s quite a gulf. As a result, I believe the Iraqis don’t trust the Iranians and don’t wish to be a satellite of that regime. As for Erdogan, he can’t play the servant of two masters much longer, he’s going to have to pick a side.
Lot of chat going on about Iran's influence in Iraq and border disputes. Talk of Barzani writing directly to Biden about the issues. US will be very concerned about Iran getting involved given their bases in Kurdistan. Also US will be concerned about high poo impact on inflation. US has a lot of influence in the region including with Erdogan being in NATO. They don't want this to escalate so be interesting to see how they get involved. Imagine a lot of diplomatic phones will be worked in the next few days. One thing for sure about this region everybody loves haggle. But as always once the haggling is done a deal will be struck. Patience.
You'd have to wonder where the bottom is. .8p old money again.
Yes indeed, but what have sales been since? I, for one, am sceptical.
I sounds as though they are making the best of a bad situation. With 23,100 being the latest number we have and they talk about strong demand we aren’t in to bad a place.
All bills covered every month so just waiting for a deal whenever and on we go…
The rns gave staggered updates, we need this continued:
o c.4,900 bopd gross average sales for the period from 19 to 31 July increased to c.16,300 bopd for the period from 1 to 29 August
§ 1-18 August: c.12,100 bopd; 19-29 August: c.23,100 bopd
What about now releasing the period 29.8 to 15.9
To give a consistent relativity?
There is no mention of discounted placing in the RNS.
In the presentation JH explained in they would mitigate cost risks by reducing capital spend to preserve cash. However, this is not an issue now as they have local sales which are covering their running costs. Also KRG owe 151m and they have paid large chunks to oilers such as Dana. So as Directors they have highlighted risks and have taken steps to mitigate those risks. No mention of a placing.
According to PSC 36% is the GKPs share and they said exactly that and if I remember correctly, it is even stated in the documents and shown in the slides. Anyway as we previously discussed they try to keep the KRG's share... we will see whether it is possible (it WOULD be a huge boost in my opinion.
Just listened to the podcast. CEO said we are getting 30$ a barrel. I think he then said our share was 39% so this means we get 12$ a barrel.
Are my figures correct?….
Thanks
Did you not read the last rns about external financing?
They already dropped the hint so no one can be surprised
opulentia indeed putup, sold up i'd say. sad to see this price, though chill i think not.
updates under the circumstances should be regular if there was any concerns for the share destruction. chill my ****. they are not normal times. you cannot say there are local sales and give a number once a year, clearly it's a shareholder right to know daily sales at this juncture. bloody covid gave daily numbers and it was less danger.
are sales consistent?
has there been any week on week increase?
basic shxt
Hey FlyingHorse, I hope you're ok? You have provided good posts lately; it's good to have you back. I have lost all energy with the death of my wife last December, but I am holding tight to my shares. The oil will flow and the field remains a monster.
"Anfil they are not updating the market. That's very bad."
They updated everyone in detail less than two weeks ago! Clearly nothing material has come to light since. Chill.
Not quite (and especially not on a FD basis which is the basis on which you should calculate market cap). I think you forgot the currency translation...
Obviously the market is less confident about being paid the arrears. Let's await any news that might rebuild that confidence. Until then, whatever happened to Opu?
Now less than sum of cash and money owed. They will be paid and the oil will flow. All other assets valued at zero.
Latest thing I "heard" is that it is subject of negotiations. But as others said the KRG needs money very much and their situation is getting harder and harder. To me it seems like that Bagdad wants to squeeze the KRG to make further concessions on the autonomy but how much... and what are they demanding is a question.
More FUD from BB. GKP dumped their debt a long time ago. One of the few oilers that have no debt. And they are owed 151m. Still not clear if they have done a deal with KRG to keep all their local sales income so that money owed can be paid off.