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At this time I think you would be hard put to find any takers for oil company debt associated with the KRI...
The company is actually making cash (personally I would not be surprised if they were close to 30k bpd), while the Genel and DNO is only down marginally. This whole thing makes no sense to me.
Just looked at advn, some real nutters. They keep bleating on about a takeover. Do they have any idea how business works. Who would be taking over from who. Madness.
As JAdams says, if you want to wipe owners, just rights issue again. They did it b4. Would make zero sense, but it made zero sense b4, unless you simply off loaded all the way down from 2 pounds and want to buy more at 10p.
Would be certainly handy then.
Lows. Be interesting to see where this all leads now.
Under 200 million mkt cap.
Confidence gone.
Woulda been nice to hop off at 1.85 and repurchase my 200k shares at 30p
Placing for what? What does the company need extra cash for?
Looks like market is getting ready for it :(
The pipeline will open again, I'm.betting before the end of October. Its 80% of their economy and Brent is 92 dollars a barrel.
As far as Shaikan crude is concerned, trucking via Ibrahim Khalil border crossing (west of Zakho) is much more direct and convenient route to Turky.
https://www.google.co.uk/maps/place/4HRC%2B486+Ibrahim+Khalil+Border+Crossing,+Zakho,+Iraq/@37.1402875,42.5707656,17z/data=!4m14!1m7!3m6!1s0x40091a6e00c2382b:0x95fc05a50a3b7b9a!2s4HRC%2B486,+Zakho,+Iraq!8m2!3d37.139472!4d42.5710728!16s%2Fg%2F11bytp73wq!3m5!1s0x40091a6e00c2382b:0xd5bd4f7c73073435!8m2!3d37.1402875!4d42.5707656!16s%2Fm%2F07sbjj6?hl=en
Best Regards ValueS
Putup is completely right, Iraq never 'lose' here; nor do Turkey intend on helping Kurds.
The entire middle east is now united, Africa is uniting for heaven's sake. They have zero fear of the West.
I'm currently seeing no hope here. Accepted the loss. Though it hurts.
Doubt if KRG have allowed Iraq to control the border crossing.
The Khabour Border Gate, through which was trucked the crude oil going to the Ceyhan terminal, is now jointly controlled by Baghdad and Erbil forces.
It would be very easy to stop crude crosing the border and/or to provoke an incident there.
Revenue has been deferred not lost. The average price of Brent for April-August this year was $80. It's now over $92...
I dont think Iraq are losing 1.1bn while the pipeline is closed, because they have OPEC quotas limiting them, they have just ramped up production from their southern fields instead to max out their qutoa, so Iraq have no incentive to get the pipeline open in a hurry and share the profits with the KRG while they can get all the profit from the south, apart from they might get their 1.5 billion court award sooner, but if they really hate the kurds they will just let them sweat as long as they like knowing they can get that 1.5bil whenever.
Having said all that I'm praying they've let them sweat long enough now and it could all change in a news flash, but it's wishful thinking for sure so I have to call this a sell at the moment, and look to jump back in once things change even though likely to miss the initial pop, I hate it but that's the decision Ive come to after waiting far too long already, and swallowed a £70k loss even after divis. The bright side for those brave/crazy enough to stick in there is with my luck it probably will get resovled next week now and jump 50%, if I stayed in it was going broke for sure.
Good luck anyway, I'll be watching the situation with interest, ready to kick myself no doubt.
Just speculating. Turkey don't seem too happy with Iraq at the moment. They keep taking them to courts and not doing a deal. Also wouldn't be surprised if Turkey has a keen eye on Kurd oil fields. Then there is the water issue where Iraq is dependent on both Kurdistan and Turkey for supply.
Wouldn't be surprised if trucked oil is already heading off to Turkey.
Is ICG/Baghdad/SOMO miffed that Erbil (ie Bar-z) are profiteering by selling oil over the counter without SOMO involvement - and then ICG rightfully withold salary payments as this breaks the last biscuit agreement ?
Another round of childish disputes kicks off…….
Erdogan is personally loosing out each day - or is there a much bigger game afoot here ??
All very good Flying Horse. BUT, isn’t that the route of our problem, ie Iraq won an international court judgement against Turkey so Turkey closed the pipeline ( as we are ALL only far too aware. )
That said, it is a pipeline dispute based upon a legal agreement and Iraq would lack the power to stop Kurdistan, legally or forcefully, from exporting oil Via Turkey by truck. Although Turkey might value their relationship with Iraq more than they do Kurdistan.
The rhetoric seems to be heating up between KRG and Baghdad. If Baghdad is refusing to pay salaries and won't open pipeline then wonder what's to stop KRG doing a deal directly with Turkey. Could simply state that Baghdad refuses to treat Kurds equally and sign a pact with Turkey and off they go.
Numerous reports state that the Iraq federal government are not sending the KRG adequate funds. Could it be Iranian influence attempting to starve the Kurds of an ability to finance the large ( 300k strong ) Peshmerga? Was Erdogan right in saying that the pipeline closure is still a dispute between Baghdad and the KRG? Could a conflict occur that would be in no one’s best interests apart from Putin’s etc.
On the plus side could the prospect of a military dispute focus powerful minds on a resolution, ( the U.S. for instance) and in the meantime with the KRG desperate for every dollar will they fully support discounted oil trucking that allows the IOC’s some profit? We shall see, but this is certainly not a share for the faint hearted.
Patience Required
I can't believe there are many investors, PIs or institutions that are not suffering right now..
Unless they bought a sh8tload of shares during the (unnecessary) Covid panic. As I did.
And even then, if they've topped up as a consequence of the inevitable sp improvement post Covid (as I did) then there's inevitable pain to bear. Even if it's only lost paper profits.
But let no-one forget the return of capital to shareholders via dividends (and let's forget the debacle of the rigged share buyback!).
We've all been surprised/stunned by the pipe closure. Including the Board.
It's time to put your big boy pants on if you believe in the future for a modified GKP.
Or it's time to sell up and lick your wounds.
Either way the oil will definitely flow.
Good morning.
This Bulletin Board has gone from long running disagreements and occasional squabbles to quite absurd and ridiculous theories'.
Worrying times such propaganda can be so easily used on a mainstream platform.
Now where are us pi's?
The board, and their mates, know the sales numbers.
We have NO regular updates. Are sales consistent? What's our cash balance? Who's buying? Is it legal? Do SOMO support these sales?
They've been off loading into each bounce since April no doubt.
Because they have INFORMATION.
It's a scam. Under current situation there should be weekly updates.
Prophetus definitely has the 'chip', vaxxed to the max, and would nuke those pesky Ruskie commies at first chance.
Prophetus, get on a plane with Indrid and put your dweeb finger tapping hands on a Western weapon and join the dying forced men. You CAN volunteer.
Those poor men should not be fighting YOUR war.
Go. Sign up.
Pathetic
That is a very possible theory, as at its core it is mass genocide. They were the last major non conforming 'white' country. Their men are now gone. Could even be revenge for historic genocide of Israelis that they have not forgotten.
China definitely support Russia, ergo, they cannot be defeated. Either way, they will win any wars.
Why do you guys obsess about Putin when everyone can see China is pulling the strings? At this point I would not even be surprised if the theory about Putin and Zelensky collaborating to kill as many Ukrainians as possible to make room for American and Israelian lefties (fleeing Trump and Bibi), was true. Would also explain why the Russians have left Ukrainian infrastructure mostly untouched. In Russia's shoes, the USA would have carpet-bombed Kiev and Odessa several time already.
China wins a secure overland supply of oil and gas.
Russia wins new oblasts and a battle-hardened army.
USA bolsheviks get to return to their homeland and rebuild it for profit.
Ukraine gets to become a new industrial powerhouse (with Chinese investment) on Europe's door - think Ukrainians making BYD EV cars for a fistful of Hryvnia.
Germany loses, as usual.
MAXIMILLIAN IS OBVIOUSLY A HOPELESSLY DELUDED RUSSIAN. IGNORE THE FOOL. RUSSIA WILL FALL AND PUTIN WILL BE IMPRISONED, WHICH IS WHERE THE CHILD/WIFE/MOTHER MURDERER BELONGS.