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Aren't you nearly 70?
Just so embarrassing for the human race...
Baby is bleating again didums
BLESS
Lol... dear lord...bleating?? No mikey its u im afraid, accept u were wrong again!... u state everything as matter of fact... but clearly ur facts r up the swani!!...at least b a man and admit u got it wrong.... but no u wont will u!... u could always blame value seeker on 3 lies .... but then again that would be telling urself off!!... muppet!
No.... wot mikey wrong again?... never!.... stick 2 ya plumbing mikey!!.. or mayb go out on ya bike, hope ya dont crash n burn!!... pmsl
Baby is bleating again didums
BLESS
Mikey,
You know we're not all out to get you, it's just that you really don't do yourself any favours do you?
I won't wait for an apology...life's too short.
Ha!
You need to read last night's RNS Michael.
No.... wot mikey wrong again?... never!.... stick 2 ya plumbing mikey!!.. or mayb go out on ya bike, hope ya dont crash n burn!!... pmsl
Ha!
You need to read last night's RNS Michael.
https://www.screencast.com/t/R3vdjzdP
You need to recalculate Straycat
gotabesirius,
Sorry about Mikey's intemperate tone....he doesn't get out much and it makes him cranky AND wrong.
Under the terms of the second phase buyback for $25m we’d spent $18.56m buying 7,207,403 common shares.
That leaves $6.44m to spend, and using the current VWAP of $1.877 this gets us another 3.4m shares into treasury. At the current run rate that’ll take another 22-23 trading days.
When it’s finished we’ll have bought back c.a. 10m shares to add to the 8.7m we bought back during phase one and the total buyback will have been for c.a. 18.7m shares, or 8% of the shares in issue.
"Any idea how far through the buy back they are? Many left?"
For the Lazy.
As of last night the Buy Back has consumed £14,217,241.96 which equates to $18,306,547.26
$25,000,000 - $18,306,547.26 = $6,693,452.74 left to spend
Provided by the Daily Updates of ValueSeeker8
https://www.ii.co.uk/discussion/t/transactions-in-own-shares/1151016/56
Any idea how far through the buy back they are? Many left?
About 7m bucks to go or 5.5m quid... roughly 300k a day as average...so roughly early march ish at current rate
Any idea how far through the buy back they are? Many left?
https://www.gulfkeystone.com/media/122577/2018-report-on-payments-to-governments.pdf
"What makes you think that notwithstanding that subjectivity nevertheless the MNR have acceded to the reduction to 30%?"
I did say "As far as I know".
The KRG is making changes "on the hoof" which are "not" being included in the Legal Framework of the PSC.
Two such changes are the two Oil Payment Agreements GKP has had, so I suggest you look at those two for your answers
GKP is what it is, a high risk Company working in an environment that is alien to our British ideals of getting stuff done in an expeditious manner.
But the footnote states that the reduction to 30% is 'SUBJECT TO the finalisation of the Second Shaikan PSC amendment.....'
What makes you think that notwithstanding that subjectivity nevertheless the MNR have acceded to the reduction to 30%?
‘(i) KRG entitled to a capacity building payment representing 40% of GKPI/TKI profit oil
(to be reduced to 30% subject to the finalisation of the Second Shaikan PSC amendment pursuant to the 16 March 2016 Bilateral Agreement between GKP and the MNR)’
As far as I know the 40% Capacity Building tax was reduced to 30%, but as yet it has not been included in the Legal framework of the PSC, so that's another matter for the 2nd Amendment to take care of hence the following statement :-
"The Company continues its dialogue with the MNR and MOL in order to achieve further contractual and commercial clarity in relation to amendments of the Shaikan PSC which it anticipates being concluded in Q3 2018."
As far as I know "nothing has gone wrong"
GKP is working in Arab Kurdistan and the Arab's take the relaxed Spanish terminology of
mañana to a whole new level.
The further east from Spain one goes the worse it gets, as nothing that can be "put off" is ever done quickly.
Mikey,
Not having a professional linguist to hand;
‘(i) KRG entitled to a capacity building payment representing 40% of GKPI/TKI profit oil
(to be reduced to 30% subject to the finalisation of the Second Shaikan PSC amendment pursuant to the 16 March 2016 Bilateral Agreement between GKP and the MNR)’
What exactly does that mean in the context of the Second Amendment finalisation?
Also I note that in their ops update of 22/6/2018;
‘The Company continues its dialogue with the MNR and MOL in order to achieve further contractual and commercial clarity in relation to amendments of the Shaikan PSC which it anticipates being concluded in Q3 2018.’
Do we know what went wrong?
Note . . The 36% pre month Cost Recovery is currently split along a Working Interest line between GKP 80% and MOL 20%.
(a) There is a natural rate of recovery without production increases…..what is it?;
(b) No production increases = no accelerated recovery of the $500m cost pool…so what’s the relationship between accelerated production and accelerated recovery?;
https://www.screencast.com/t/PIfwyO1Rs8Z
Taking (a) the present Cost Recovery per 100% of Production is 36%, which taking a Production level that equates to Payments of circa $17,000,000 per month equates to a Cost Recovery per month of c. $6,120,000
Taking (b) as Production Levels increase and Payments increase, based on the same 36% its natural that the Cost Recovery will increase.
So that taking a Production level that equates to Payments of circa $28,000,000 per month equates to a Cost Recovery per month of c. $10,080,000
Rocket Science in action :)
As far as the PSC is concerned the 2018 full year accounts revealed that:-
‘With imminent growth in production, the Company expects to accelerate recovery of the c.a. $500m outstanding petroleum cost pool (gross).’
And then:-
‘the Company has spoken in the past of discussions with
the MNR and MOL which could potentially lead to an amendment of the existing Shaikan Production Sharing Contract (PSC) where the MNR is seeking a carried interest that is common with many other PSCs in the Kurdistan Region of Iraq. Should a new PSC amendment be concluded, the Company is confident that the revised fiscal terms are expected to be at least value neutral to GKP. This matter has no reason to impede development progress, investment and increasing production from Shaikan, as evidenced by our considerable activity in 2018 which continues apace in 2019.’
Those statements tell us that:-
(a) There is a natural rate of recovery without production increases…..what is it?;
(b) No production increases = no accelerated recovery of the $500m cost pool…so what’s the relationship between accelerated production and accelerated recovery?;
(c) The amended PSC will probably have no positive impact on GKP since the Board are likely to settle for it being ‘value neutral’.
In any event, I’d be surprised if the FDP isn’t wrapped up in this negotiation as well.
From the MNR point of view it’s a very effective bargaining chip given the level of GKP’s financial commitment already made to the development plan.