Member Info for 34adsaddsa

If they were going to return whatever cash they've got I'd probably buy here, but they aren't so I won't. I think it'll all get eaten by G&A and god knows what else.

Their share of Brentford Oil Tools LLC (oil field services company) alone should be worth $3-5M if that has been included.

It would be absurd to expect any impact at this time. Most of their platforms are out at sea and production isn't even large. What matters isn't immediate impact, it's whether the powers that be there stay in control, whether there's a civil war, whether they say contracts are void, all commodities belong to the state etc.

See you at zero.

Shakey did sell. I said many months ago that this is a zero unless they change strategy. Littlened won't listen. He'll defend it until it goes bankrupt or gets taken over for several million.

Why take it over and face inevitable capital loss when you can instead own just 6.66% and bleed it dry via interest?

It's difficult to know exactly what has or hasn't happened in the past - both what the agreements really were and to what extent they were followed - but I think they could deduct PSC costs before.

"Under the 2021 budget law, the Kurdistan Region will be committed to produce 460,000 barrels of oil per day (bpd).

After deducting expenses for production operations in the Region, transport of oil and the domestic consumption of crude oil, the KRG must hand over to Baghdad revenues generated from regional oil exports of 250,000 bpd, according to Iraq’s SOMO pricing, as well as 50 percent of non-oil revenue.

The Kurdistan Region, in return, will receive its share of the budget, which is set at 12.67%"

They claim to need $700M per month just to pay salaries.

I think the most important point is that before, they NEEDED to offer juicy PSCs because they were in a legal grey zone and it was obviously very risky. Once everything is above board with Iraq and Turkey, they won't need to do that. Why give away billions a year when you don't have to?

Pretty simple: Kurdistan gives the oil to SOMO. Kurdistan gets cash from the Iraqi Federal Government. Kurdistan would need to pay from their own pockets the PSC amounts due to IOCs which are over and above the average cost of production across Iraq. They won't do this, because it would be financially ruinous. PSCs get changed/scrapped.

Oil output then collapses?

If the contracts are done then it'll go down 70%

PSCs are done because they can't afford them, but without the PSCs they can't produce enough oil to get revenue from the federal government. What a mess.

No one will buy this because there's zero certainty in the integrity of the contracts. The contracts are what matter. Whether exports resume this month or next year doesn't really matter.

Vanquis Banking Group : Peel Hunt cuts target price to 115p from 220p * Vanquis Banking Group : Peel Hunt cuts to reduce from hold

It's Jeremy Hunt drinking your milkshake.

*COO

The CEO is an arrogant fool who is using the company to push his political views. He needs to be pushed out.

The locals will soon be raging against the hijackers because petrotal not getting its supplies means the quality of life in the villages collapses. They now also know it's costing them hundreds of thousands a week.

Well, it happened.

My average is 50p so I'm not as emotionally upset as others, and I made money on these last year.

For those who have been buying recently, we probably wouldn't have been able to at those prices without IIs knowing this would be coming and the resulting price collapse.

Still disastrous misuse of cash etc. etc.

That they handled a problem poorly, didn't communicate candidly and could do the same thing again.

Bonds maturing in less than two years at trading below 58 cents on the $. There's really no debate to be had here.

1. You don't buy back shares to try to stop the shares from going down.

2. Buying back shares here would be extremely reckless.

3. Buying back bonds would be highly beneficial if they think they have enough capital to get by (I doubt they think they do).