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Bring back Todd.
Pointless new presentation as far i can see, with nothing newsworthy.
What i will say is it is becoming obvious that the two outstanding issues regarding a new PSC and the new FDP are being downplayed by the company, but in reality this shows a lack of leadership and a little concern to investors, who do not like uncertainty.
At the end of the day these are just normal company procedures moving forward and are highly important for a company's development.
Incompetence maybe, embarrassing absolutely, if the MNR is a tough nut to crack, then have someone who investors have confidence in to deliver.
Just my personal view.
ANGINA,
Strikes me that the truly aggressive play would have been to launch a share buy back plan at the same time as the new dividend policy was initiated at the Capital Markets Day event in March.
SZ was quizzed on it and didn’t rule it out in the future.
Well the future’s now in my view.
Could be the FDP .
IF there is a buyer in the wings then they will need to accept it , and since the new CPR is part of the FDP then it will also be on hold.
OR
It could just be KRG political issues.
IMO
Cash Cow indeed: that $300M odd in the bank must have the BoD lickin' their lips to dream up a new Bonus Scheme.
Time to pay off the $100M 10% loan, and kick-off a share buyback campaign.
Why are the MNR holding us back one wonders.....
"Bravedog, as I said yesterday, they don't want any PI's at the AGM asking difficult questions, so they will leave the notification of date and location of the AGM to the very last minute in an effort to deter."
The Rules of the Stock Market are that every Listed Company shall give a MINIMUM of 21 days notice of an AGM's date time & place.
Last year GKP announced the AGM by RNS on the 20th June with the day being Friday the 13 July 2018 at the Sheraton Amsterdam Airport Hotel.
From the 20th June till Friday the 13th July equated to 25 days notice for last years AGM, which is well inside the 21 day Ruling.
Might be a good idea to cancel the Divi, and plough it into IE3 as an example, as a Joint venture, or one of the other great potential oil stocks out there, 50 Million would go a long way.
GLA LTH However dont think they would have the brains to Diversify, they wouldnt get thier Golden Handshakes every year
'and their incompatibility with the complexities of local negotiating necessities on the ground.'
There you have it. This company cannot behave like a normal company because 'normal' is incompatible with the corruption and whims of those in Kurdistan. Yet the BoD refuse to diversify away from Kurdistan?
Bravedog,
As I recall, at the Capital Market Day presentation SZ was asked about premier listing aspirations by an analyst during q &a’s.
His uncomfortable response referred to the strictures of FCA regulations and their incompatibility with the complexities of local negotiating necessities on the ground.
And as always we dont bounce back like others genl up 4% were what now 1% ? Share price is so detached from asset value what will ever make it recover?
Cockeye,
« A revised CPR is expected after FDP approval ».
This means no big revision in reserves as they are stating.
I can tell you they don’t care about PI. PI are a hassle. Analysts and II are much more important for them.
PI will not bring big money, analysts will because they will bring coverage.
But what brings the biggest amount of money into the stock will be the inclusion of the cy in an FTSE Index, because of the amounts invested in indexed funds.
I mean look at this pile of sh*t....
'Today, PSC in place and valid with 80% working interest to GKP
• Should a new PSC amendment be concluded (with a carried interest to the KRG),
GKP is confident that the revised fiscal terms are expected to be at least value
neutral
• This matter has no reason to impede development progress, investment and
increasing production from Shaikan, as evidenced by the ongoing activity and
near-term production ramp-up to 55,000 bopd'
So in addition to the FDP that the company can't get the MNR to agree to, they can't gain an agreement on the PSC either despite years of negotiation, which would indicate either complete ineptitude by the BoD, or the MNR being deliberately intransigent and obstructive which of course would give cause for legal recourse yet, we have a CEO and CFO that suggest Kurdistan is the only place to be, and therefore will not seek to diversify elsewhere, whilst enriching themselves enormously.
Join the dots.
Bravedog, as I said yesterday, they don't want any PI's at the AGM asking difficult questions, so they will leave the notification of date and location of the AGM to the very last minute in an effort to deter.
'A revised CPR is expected after FDP approval'. Like the 2nd amendment, your guess is as good as mine on when that might be.
Why now?
I didn’t find anything new apart that the pipe will be ready during the summer.
So why now? What are they waiting to give us the AGM date?
New presentation on website
https://www.gulfkeystone.com/media/120756/gkp-corporate-presentation-may-2019-website-final.pdf