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Actually he did say at the end the Kurds can't be trusted with the money, once the money comes to central government Iraq all the issues will be sorted
Oil article, which book is he selling now
Don't stress not good for you
I was speaking to a friend last month he's from Kirkuk, asked him if he was are aware of the pipeline issue, he replied everyone's talking about it over there, so asked what's the problem why will they not let the Oil flow, he said listen, the Kurds need to realise the oil belongs to Iraq, the Oil money, needs to come to Iraq
I was more confused than ever, I guess It all depends on wich side of the fence your sitting on
Simon Watkins has been posting the same things for months now it's clickbait, there are people really HOPING that GKP will be assimilated for a nice price, IOC's can't be taken over or taken away, the ruling of the Iraqi High Court that the contracts are illegal is irrelevant, that's why the ICG haven't just taken control, the contracts are guaranteed by international law and can only be changed with the agreements of the IOC's, that's one of the reasons why things are stuck.
Like I've been saying, but due to emotion or by wanting to mislead, others have suggested that commercial pressures will override this. They won't! If such pressures didn't burst the dam at 3 or 6 months, they're not going to at 12 or 18 months. The US doesn't have the influence or will to budge this. A Trump second coming may help, but his focus is going to be domestic for some time and his foreign policy previously was to retrench from the Middle East than to gain further influence, hence the vacuum filled by others.
"The article in Oilprice today reads very concerning, there was a similar one about 10 days ago, but disappeared very quickly. Seems to me that Russian (Iranian) & Chinese influences are gaining pace. Hopefully GKP can stay on board through SOMO etc. rather than being assimilated.
Headlines
"The New Oil Law being worked on by the government of Iraq in Baghdad may drastically reduce the independence in energy matters for Iraqi Kurdistan."
"The FSC ruled that the Kurdistan Regional Government (KRG) must turn over 'all oil and non-oil revenues' to Baghdad."
"The New Oil Law may have drastic consequences for Western IOCs working in the area."
The article in Oilprice today reads very concerning, there was a similar one about 10 days ago, but disappeared very quickly. Seems to me that Russian (Iranian) & Chinese influences are gaining pace. Hopefully GKP can stay on board through SOMO etc. rather than being assimilated.
Headlines
"The New Oil Law being worked on by the government of Iraq in Baghdad may drastically reduce the independence in energy matters for Iraqi Kurdistan."
"The FSC ruled that the Kurdistan Regional Government (KRG) must turn over 'all oil and non-oil revenues' to Baghdad."
"The New Oil Law may have drastic consequences for Western IOCs working in the area."
GetL…… please explain: «Unfortunately it is ripping off the people of Iraq»
I have always held that the rulers are ripping off both the peoples of Iraq (via creaming off the sales of natural resources). AND little IOCs like us (via short and late payments).
Non seller holders dont have any effect on SP, as they dont do any transaction. The level of shorts should be compared to the turnover or daily volume, not the ehole market cap or free float. Especially if the part that is considered free float kay also partly belong to the "non-seller holders". Its true that shorting shouldnt have any meaningful effect in theory, but with a low daily turnover, lower really freefloat ratio, the time differemce between the effect of opnening and closing the shorts has. When opening shorts additional supply or selling pressure is created, thus has a preassure to lower the price, as demand or buying power is limited, then when the may unleash the closing wave of shorts, it wull have a lifting effect on sp, both has much stronger effect than in case of a normal, liquid, lower risky, higher real free float etc. share.
In theory.
This company is pure Gold. Unfortunately it is ripping off the people of Iraq. They have paid out more in dividends to share holders than the current value and that does not include payments to the government.
Go figure!
@Kheldar, how does the existence of a Short hold the Price down?
Someone posted that there were roughly 2% of the shares which were Short at that time.
So that leaves 98% which are in the free float or Long.
Does the Short position really have a 49:1 gearing effect on sentiment?
What % of the shares were held by the top 5 holders as the Price dropped from over 300p to just over 80p?
Why didn’t the existence of non-sellers hold the Price up? Which should happen if the Shorts can hold the Price down, if the market is even remotely efficient.
The short positions on GKP are really fascinating. As far as I can gather only walleye from when they took their position are in profit. I think their average is around £1.28. Yet, they are not reducing their short. Over the last few days they’ve seen their profit reduce by over £200k.
I don’t think these hedge funds are stupid and in my opinion they are keeping this price down to accumulate shares as possible.
I have accumulated as well let’s see what happens over the next couple of months.
Atb to all shareholders
Anyone know what all the 10.01k blocks are about today?
I wouldn't get hung up on the pipeline opening is not much closer. Clearly the IOC statement was to counter notes no doubt originated from Iraqi politicians designed to deflect direct discussion from the USA, ( ie "its all in hand," while doing exactly what they've done all year ...nothing). Now those corrupt politicians have no stone to hide under.
Might actually force them to do something significant, but we'll hold our breath on that one. However they are desperate for water now so something has to give.
"After that little drama it's back to boredom for another three weeks. 83-102 range trading?"
Wrong: traded @ 107.15 just few minutes ago!
@Kheldar, when I wrote, “ So it might be zero but it could also be something else” that’s what I meant but your post explains very clearly how it could have worked in practice.
Hope the upward trend continues and it encourages some more closing of Shorts putting even more pressure on the Bid.
@theoryman - the short tracker link I provided is correct as you can compare with fca short tracker. Millennium did take their holding to 0%. However, that’s only for the day reported , subsequently they can open their short but don’t have to report it until they cross the 0.5% threshold which is why figures in second table can’t be guaranteed. This goes for all short positions below 0.5%. As hedge funds don’t need to report they could be as extreme as 0% or 0.49% irrespective of what it says in the table
Why waste valuable time by taking any notice of sadistic words written by Izsaponzi.. he is clearly a sad fool that can’t stand the thought that some of us have made enough money in the past to be able to take a punt on the prospects of GKP.
Fortunately, as I posted last week, I was a buyer @89.5. I’ll take a 15% ‘day trade’ profit in one week with thanks to the idiot that sold at that price.
@Kheldar, you wrote, “Millennium quickly closed their short position last week. Why do you think they did that?”
The shorttracker link you provided has a disclaimer about any 0% that occurs in their tables of shorts held.
“Notice: We no longer track disclosures after they drop below 0.5%. It is possible that the manager still holds a short position even if we are showing it as zero.”
So it might be zero but it could also be something else, aka chocolate fireguard quality info. 🙄
Itsaponzi: “Probably expect a 6 /7 % down today after that news !! ”
So you think a company that is making $4m a month profit and has said it is is expecting to increase this is overvalued at a market cap of £223? Give your head a shake.
Points to note:
Millennium quickly closed their short position last week. Why do you think they did that?
Apikur have suddenly become more vociferous and calling out lies.
Why is the Iraqi government keep dangling the promise of opening the oil pipeline soon if they are in control? Why not just say the contracts are illegal and close these companies down?
Why has Sudani openly criticised USA bombings and asked for US forces to leave but has not written a formal letter to UN or the US about either of these matters.
There are a couple of Iraqi media channels on X linked to these Shiite factions. If you think Sudani is against KRG then you need to listen to these guys. They think he is a US stooge.
Nothing can be taken for granted but things are not as bad as you think.
Still swinging at spin bowls in his head that guy is...
Brief notes about recent developments... holders are likely to be rewarded soon.
https://twitter.com/john78846295/status/1764393002556879311?s=19
THIS WEEK - Deputy Assistant Secretary Victoria Taylor visits Iraq
In the American Congress. we have more than 40 members of what is called the Kurdish caucus. So we are talking to all of them, and encouraging them to draft a letter and make statements and have direct communication with Prime Minister Sudani as well as the White House to support the people of Kurdistan Region. Some members of Congress are already talking about preparing correspondence to the White House.
We have had a good reaction and been well-received from both sides of Congress, Democrats and Republicans. This week I've met with nine different offices. And all of these offices say that they are supportive" of resuming oil exports, said Caggins.
The US State Department has also urged Baghdad and Ankara to resume the exports as oil revenue is critical for the KRG.
c. 10th March - Ramadan starts
APRIL - President Erdogan to visit Baghdad and Kurdistan , following March 31st local elections.
c. 9th April - Eid
Mid-late April: Sudani visits Washington DC
Before he comes to Washington DC, the prime minister must put in place a budget for the KRG [Kurdistan Regional Government] and create the policy to restore full oil production and exports.
Ohhhhhh, that’s not good news ….. time to dump my 114,000 hard earned golden tickets (or maybe not !).
Pressure is being ramped up on GoI ......
"no concrete progress"
That about sums things up
There are two demands that APIKUR included in the original negotiating position, commercial equivalence and schedule for repaying arrears.
Let’s focus on the positive about the latter one.
As far as I can tell, not one local politician has lied about sorting the arrears out.
On the other hand that could well be because none of the locals on either side ever mentions how it is going to get sorted.