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Control and owning the oil fields.
The Iraq contracts take financial ownership to the region of 95-98% of the fields productive value.
That’s why I want to know what other people get for the Kurdistan contracts %.
We can then look at a fair value.
There’s no option here now but for an Iraq contract.
Iraq now have legal control of the export pipeline, payments to the IOC’s, and fiscal control of Kurdistan.
The IOCs can say ‘we’ll go to the London arbitration court” but in reality it will take 2-3years to get a hearing.
The more you think about what the Iraq government has done here the crazier it becomes, clearly they could get this running tomorrow if they wanted to there is no physical restriction - just doing this to exert control over Kurdistan and all the fluff and delay is wearing thin. I would probably at this stage prefer arbitration
Well that is a bad start to the year
Does anyone know what the net % of revenue on the Kurdistan contracts goes to net profit for GKP? - On average.
I get around 5.8% - 7.5%
We may hear what the new commercial terms are this month.
Easy ask the PM of Kurdistan !!
….. wonder into who’s offshore accounts the loot from our donations of free oil evaporated to ?
During this 108-month period, salaried employees received full salaries for only 49 months. There were deductions in pay for 44 months, and salaries went completely unpaid for 15 months. The total outstanding salary debt owed by the Kurdistan Regional Government is approximately 21 trillion 584 billion dinars.
Where are the IOCs in the peaking order for back payments??
KRG are just pure thieves!!
Congratulations to mMax1 for winning with 31pts for 6 correct Nones and a close miss out of 8 predictions. (Maybe the first m stands for mystic 🙄)
I was second with 26pts and damofarl third with 18pts.
1 Every entrant thought the Dec ‘22 invoice would be paid some month in ‘23, even mMax1. Null points across the whole field.
2 Went ex-div in Feb.
3 O&G Law didn’t get passed - still arguing over the draft.
4 Almost averaged 55kbopd in March, did reach it on 5 days but the shutdown of the pipeline scuppered the overall figure.
5 Brent FOB never averaged over $100 a barrel in any month despite several analysts suggesting it would be a slam dunk.
6 Anyone hoping for $100 plus total dividend in the year, as some posters on here were, was severely disappointed.
7 Share price never got near the 250 p level.
8 No RNS about an offer being received.
You're nuts if you think you are going to get a dividend before the company gets some of the arrears owed. They need to manage their liquidity very carefully until everything is resolved and there's a path to arrears payment.
Still 85 million sitting around. Should have paid 15 million out in December.
Invstrat, exactly
Put in context if this company make even 30 million profit a year and it is returned to shareholders we'll be a tidy number.
So here's to stability and some minimum profit
On Jan 11th last year I asked posters to submit their predictions for when certain key targets/events would occur during 2023.
Outcomes along with scores will be posted tomorrow.
Predicting the correct month scores 3pts, with 1pt for a close miss of a month on either side. Exception is if you choose Dec and it happens in the following year, that scores 0pts.
If you choose None, that means not in 2023, then you score 5 pts if correct and 0pts if you are wrong, no close miss allowed.
1 As we still await payment for August’s production, in which month will that for December 2022’s production arrive?
2 In which month will the share go ex-div for the first time?
3 In which month will the O&G Law get passed?
4 In which month will the company first reach hit an AVERAGE of 55kbopd?
5 In which month will Brent FOB Spot, as used to calculate receipts at the moment, first AVERAGE above $100 again?
6 In which month will the total dividend PAID reach $100 million or above?
7 In which month will the share price first cross up through 250p intraday?
8 In which month will GKP first RNS that they have received an offer for the company? (News sites,Twitter, websites, sources, unnamed people involved etc. do NOT count.)
5% ….not too bad if its quarterly ;)
If thus pays 15 million a year we still get 5 percent dividend, that ain't bad
Nice find space tomato,
Iraq seeks a fair and equitable source of water , the same that Turkey seeks in crude oil. Article also links the two issues as well pointing out that we have been correct in our assumptions and can clearly see the solution to the export issue.
I really believe that if it was just the Kurdish IOC's and Iraq, they might have withstood the crippling financial losses in order to put down the Kurdistan people.
However having Turkey so financially inter twined in Kurdistan puts a whole new perspective on the issue. One that Iraq cannot easily bypass, ignore or basically try to hide behind legality issues to resolve.
They will give in for sure now its effectively 2 against 1, but will outwardly give a "all brothers working together" approach and try for any last minute gains or concessions from the other two parties.
We are going to see the crude flowing and contracts ratified fairly soon.
The shareholders here deserve the large gains that will then arise it for their perseverance and foresight. Actually a good time to buy.
Https://www.google.com/amp/s/www.thenationalnews.com/mena/iraq/2023/12/24/iraq-turkey-tigris-euphrates-water/%3foutputType=amp
Several individuals here have underscored the pivotal role of water as a focal point of contention between Iraq and Turkey. It was anticipated that Erdogan would visit Baghdad in December. Presumably, upon reaching a negotiated agreement, a resolution to the pipeline matter should be forthcoming. Optimistically awaiting developments.
"I'm following in the opinion of PUTUP."
To be clear, I'm rather well invested in GKP. I just don't have fanciful ideas as to how quickly things will be resolved and as to how much upside there is when they are.
"I'm putting more into Bitcoin!"
Christ! That's nuts! (Have a look at BluNord. A badly executed block trade smashed it through technicals but the fundamentals are still good. In fairness I'm in at around 155NOK but I think there's upside to well over NOK600 in the 1Q. Could be worth a crack and likely much more sound than Bitcoin.)
Retirement man 12th December
"RE: April 4th12 Dec 2023 13:35
Saw your comments- don't give up, wait until shares reach £1 and then buy some more, I will!"
Some people are so full of it.
I'm following in the opinion of PUTUP. Gentlemen I've watched as my investment loses money again.
It's no point I'm investing more, like most of you, to see your money going down the drain.
Wait until the Spring '24 and see what may happen.
I'm putting more into Bitcoin!
Simplicity in itself, worked out well for Petrofac 🫣
This stalemate is eminently solvable……IOC consortium should just agree to set up a mutual slush fund to provide an ‘incentive’ for the rulers to sign ……. and all will be resolved post-haste.
Remember where we are trying to do business, and what the age old customs for getting things done are.
Simple.
A half day once more 12.30pm.
Happy New Year All.
Reportable shorts down to .90% again.