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I don't but you obviously do.If you know so much maybe you could tell me how Kurdistan,that agreed to their quota of 400k bopd will fulfill their obligations without the IOCs to get their share of the budget?Like I said their should be compromise reached between all of the parties and that's how it looks to me judging by the KBT tariff being mentioned.Since June or July KRG hands over over 50k bopd say 60k divided by 5 as that's how many members of APIKUR is there it comes to around 12k per member and let's clarify I don't know ,I am just trying to figure something out,but Y'know so please tell me.
Y’know the theoretical price to GKP is interesting of course - but purely academic as they won’t be paying us anything anyway - as it will prolong their strategy to drive us into bankruptcy and out of the region to facilitate the take over to run as their own business.
It looks like everyone has to compromise,as in this release they stated thay their calculation of outstanding receivables is based on KBT pricing.
Surely those PSC terms have been set aside after all that has happened?
Super low production costs per barrel mean even at your discounted selling costs I am getting profit of around $6M per month
HKN crude is a Brent analogue - high quality stuff, SH crude is not. I therefore expect the SH local sales $/bbl to be closer to $20/bbl net to GKP - at the PF loading bay (buyer pays trucking). Worse case $17/bbl (seller pays trucking).
It is not clear if the PSC terms are still being applied at the moment (40% CO, 30% PO) or whether the whole sales revenue is being paid to GKP.
If the PSC terms do still apply, I expect that revenues generated by ca 12Mbopd to be closer to $2.5M - $2.75M per month.
If the PSC has been temporarily set aside, the monthly revenue might be closer to $6M - $7M per month.
Bearing in mind how many other local producers are trying to sell their crude, it's bound to be a buyer's market.
Don't be ridiculous please,so it was ok with no production and sales but it is bad when there is 1/4 of the last year's avg? It was a big fish who has created the situation to scoop some cheap shares, don't you think so?
The ceo is working his butt off ..... He will be trying to ramp up production and sales ... :-)
Not sure what this even means, but at least it's a positive title:
https://simplywall.st/stocks/gb/energy/lse-gkp/gulf-keystone-petroleum-shares/news/gulf-keystone-petroleum-longkp-knows-how-to-allocate-capital
Mulder, companies would be lining up to sell 11,700 bopd
Https://www.gulfkeystone.com/operational-corporate-update-5/
Phat, are you smoking magic stuff? A
Yesterday your message may have made sense, but with today's RNS due the climate has utterly changed. If they cover 6 million a month, they are sustainable. Ergo 200 million mkt cap is insane positive risk reward.
Assuming a production cost of $5/barrel and say $40 sale (broadly in line with HKN) at 11,700 bopd gives profit per month of $12M?
Not too bad.
Looking forward to RNS being made public. Hope it's not a lie!!!!!!
Personally that's the news I was waiting for. Sales, any sales, that can cover costs going forward, provide unbelievable, valuable security. Then we have Father Time on our side. We only need 6 million, then these b stards can't run us out. Gives USA, UK, Israel, EU, time to get fully focused on a strategic pressure.
I have written off my investment here, but GKP will have no choice but to raise money soon and the debt markets are so expensive right now that a placing will have to be done
Phat, it will be interesting to see. However that rns is much more positive than HKN, and maybe yesterday was a MM flush, time will tell,,yesterday was very, very, dramatic.
Has anyone specific details on current shareholders percentages?
Have they changed dramatically?
If a large holder was selling, or has been all this time, then can we find out the current p.i. ownership levels?
Fair play, they're fighting the good fight. That fact at least some oil is moving is very good news.
Local sales since 19th July and now averaging 11,700 bopd, with payments up front. This is excellent news.
¨The KRG Prime Minister Masrour Barzani has assured GKP and other IOCs operating in Kurdistan that production sharing contracts will be honoured and outstanding receivables will be repaid¨ Also reaffirming the previous statement from the CEO.
Regardless of local sales there isn’t any near time solution to the pipeline being open and it looks like an institutional investor is selling out now and had enough, expect the same to happen today.
GKP board sits there doing nothing while this drags on
They didn't disclose the price paid for those barrels, just that its is the local price, expect the worse
I've seen a quote of 6m per month. I guess cash burn will reduce as we go forwards with Capex project slowing down, so I don't know whether 6m per month is the average for the coming period or whether that's now and it will reduce. But I hope that local sales give us more runway.
Do we know what the monthly cash burn is? Are there any capex projects still on going?
Should do - and by any rate its slows the cash burn down massively
Agreed, but just trying to get a handle on whether it's significant in prolonging the deadline when cash runs out... 80m cash and -6/month is 13 months, even if its only 3m net, that doubles the timeline.