Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Hi anon3, Most "reasonable" charting software overlay the news and corporate events automatically so you have full context for any change in price.
I usually only rely on Technical Analysis for entry and possibly exit points, not a substitute for research into the company and its performance.
Hi Stargate, well the SP does look a little weak across all indicators (MACD, RSI, Money Flow, OBV, Stochastic ) Next technical point of interest for me is if the 61.8% Fib Retrace of the whole move (Low- Mon 02nd Nov 2020 low to 29 Jun 2022 - high) of 2504p which also coincides with a close by multiple touch horizontal support line at 2487.5p
On the weekly, we already dropped below the 200 weekly MA and the current weekly bottom bolli band lies around 2446p so who knows where we may see a bottom.
Hi, just following up now I am home, yes I had also overlaid a fib retrace from the low 02 Nov 21 and noted we got a 61.8 Fib bounce 18th May 23, before falling back below it, so continued to pull a fib across the entire uptrend.
Also noted the RSI and Money flow have curled back down following today's action. One certainly to watch closely.
Hi Stargate, appreciate your technical insight, technical charting is something I have followed for some time, but still a novice, so would appreciate an opinion. If we take the high 01st NOV 2022 (3340p) and do a Fibonacci retracement to the Low, 02 Nov 2020 (1987p - include low - candle wick) then we have some fib targets to review. We have already crashed through the 50% retracement (2663.7p) which interestingly enough it encroached upon on Friday, before pulling back.
Looking for a long term investment entry, 61.8% retracement (2504.1p) but would dearly love an opinion (pure technical / chart) of likelihood of a.) this entry presenting itself in the coming months and b.) what an sp usually does around the 61.8% retracement point (e.g. bounce or has it gone too deep and may struggle)?
We are flirting with the weekly 200dma right now and below all "main" daily moving averages (20, 50, 100 & 200) perhaps as you state, a short term bounce / trade, but not just yet a long term investment entry ?
Back to a discussion we had earlier another person, far more versed on the subject than i ever could be kinda agrees with my rough assessment of lack of authority of the Iraqi supreme Court
https://www.kurdistan24.net/en/story/28997-%27KRG-oil-contracts-are-constitutional,-Iraq%27s-top-court-is-not%27:-Professor-Brendan-O%27Leary
An interesting point of view
"This is big money if those three oil fields should become one and it would amount to the world’s third largest oil field."
With a NED, specialising in company amalgamations could this be expertise needed in the near future?
All speculation and hear say...but a nice bounce today in the SP and my divi reinvested with a little cash on top for good measure.
GL ALL
continued:
One lawsuit targets Oil Minister Ihsan Ismail, accused by the Kurds of trying to “intimidate” foreign firms operating in the Kurdistan region of northern Iraq.
The Kurdish autonomous government has accused Baghdad of taking “illegal” and “politically motivated” actions.
For Wahab, Kurdish and federal government officials fail to appreciate “how much they are damaging the overall reputation of Iraq’s energy industry”.
“Questioning the sanctity of contracts … adds legal risk to a slew of other regulatory and governance risks that ail the Iraqi energy industry,” he added.
The dispute, he said, “repels much-needed foreign investment”.
Oil revenues are critical for Iraq, a country faced with widespread corruption but also mired in a financial crisis and in need of funds to rebuild infrastructure after decades of conflict.
‘Compromise’?
Despite the legal actions, Kurdistan says it is open to a negotiated solution.
It is working on setting up two companies specialised in oil exploration and marketing that would coordinate with Baghdad, a spokesperson for the Erbil government said.
Baghdad’s oil ministry, meanwhile, marked a small victory after oil giants Baker Hughes, Halliburton and Schlumberger committed not to initiate new projects in Kurdistan.
The ministry says the companies are also working to “liquidate and close” existing contracts.
Baghdad has fought to regain control of output from lucrative oil fields in Kurdistan since the autonomous region began marketing oil independently more than a decade ago.
But under a current deal, the Kurdish region delivers 250,000 barrels per day to Baghdad, in return for a share of federal funds to pay the salaries of Kurdish civil servants.
In recent weeks, tensions have risen further after a series of unclaimed rocket attacks targeting oil and gas installations in Kurdistan.
Experts say the assaults aim to put pressure on the Kurdistan Democratic Party (KDP), the largest in Kurdistan.
The KDP is allied to Shiite leader Moqtada Sadr, whose bloc won 73 seats in the October polls, making it the largest faction in the 329-seat parliament.
The party is eyeing the Iraqi presidency for one of its members, although traditionally the job has been held by a member of the rival Patriotic Union of Kurdistan.
“The timeline of events evidently shows that this whole crisis started because the KDP took the side of the Sadrist movement… opposing the Iran-backed Shiite Coordination Framework,” Maleki said.
He expects a “compromise” will be reached to resolve the oil dispute because “Iraq is a country of compromise”.
“Until then, the supreme court ruling will hang like the sword of Damocles over the Kurdish regional government,” he said.
Copyright © 2022, respective author or news agency, AFP
And one more:
https://ekurd.net/oil-dispute-baghdad-kurd-2022-07-18
Oil dispute sharpens Baghdad-Kurd tensions amid deadlock
Posted on July 18, 2022 by Editorial Staff in Economy, Oil & Gas, Politics, Politics
Oil dispute sharpens Baghdad-Kurd tensions amid deadlock
Iraqi workers walk in West Qurna oilfield in Iraq’s southern province of Basra, November 28, 2010. Photo: Reuters
BAGHDAD,— Iraq’s oil wealth is rekindling tensions between federal authorities and the semi-autonomous Kurdish region, in a row that could compromise the lifeline industry and keep investors away, analysts say.
The long-simmering dispute came to a head in February — at a time of political deadlock in Baghdad — when the federal supreme court ordered Kurdistan to hand over oil extracted from its territories to the federal authorities.
Then earlier this month, a commercial court in the Iraqi capital annulled contracts between the Kurds and foreign firms, after the oil ministry in Baghdad filed a judicial complaint.
Authorities in the Kurdistan capital Erbil have cried foul, accusing Baghdad of heaping “unjust pressure” on them and announcing their own legal action.
Iraq, the second largest producer in the Organization of the Petroleum Exporting Countries OPEC, sits on enormous oil reserves, and revenues from the sector feed 90 percent of the federal government budget.
It exports an average of 3.3 million barrels of crude oil per day (bpd), while production in Kurdistan amounts to just over 450,000 bpd.
The February ruling stated that a 2007 law adopted by Erbil to regulate oil and gas was unconstitutional.
But analysts say politics play a major role in the dispute in Iraq, whose political barons have failed to reach agreement on choosing a president and a prime minister since October legislative elections.
“When it comes to oil, each side uses their respective powers as carrots and sticks depending on the political atmosphere of the day,” said Bilal Wahab of The Washington Institute for Near East Policy.
“At times when there was political accord, the courts were rather quiet. When there was political discord, however, the reverse was true,” he told AFP.
‘Reputation being damaged’
The nullification of oil contracts between the Kurds and four international oil companies (IOCs) from Canada, Britain, Norway and the United States at the start of July has inflamed the row.
“For Baghdad to be chasing IOCs out of Iraqi Kurdistan does not serve to show Iraq as a major producer welcoming of foreign investment,” cautioned Yesar al-Maleki, an analyst at the Middle East Economic Survey.
In a fightback, the Kurdish regional authorities in June initiated judicial proceedings against the federal government.
One lawsuit targets Oil Minister Ihsan Ismail, accused by the Kurds of trying to “intimidate” foreign firms operating in the Kurdistan region of northern Iraq.
The Kurdish autonomous government has accused Baghdad of taking “illega
Nothing I could find on the ruling yet, just some more Kurdistan focused discussion
https://ekurd.net/kurdistan-oil-psc-contracts-2022-07-18
The Kurdistan Oil PSC Contracts – What is Going to Become of Them?
Posted on July 18, 2022 by Editorial Staff in 1 Top News, Exclusive, Oil & Gas
The Kurdistan Oil PSC Contracts
An oil refinery in Iraqi Kurdistan. Photo: AFP
Sheri Laizer | Exclusive to Ekurd.net
Iraq’s Federal Supreme Court has ruled the Sarsang PSC contract illegal concerning HKN Energy – and that is Ross Perot’s Company. [1] But meanwhile the KRG elite’s efforts continue – particularly in the territory under the control of the Barzani-dominated KDP.
According to a statement on July 7 reproduced in the ISHM bulletin of 7-14 July 2022, “Iraq’s Oil Minister, Ihsan Abdul-Jabbar Ismail, said that his government was serious about enforcing a recent court decision against four foreign oil companies operating in the Kurdistan region. The day before, news reports said that an Iraqi court in Baghdad ruled that the contracts between the Kurdistan region’s government and Western Zagros, DNO, HKN Energy, and Genel Energy were void. The court reportedly found the contracts in question to be in violation of the February 15 ruling by the Federal Supreme Court against oil operations in the Kurdistan region.
In an exclusive interview with AP, Ismail, said that Baghdad’s plans to bring Kurdistan’s oil operations under its control will expand to reach a total of 17 companies and he would present the companies with three options: canceling the contracts, requesting waivers from Baghdad, or agreeing to transfer the deals from the KRG Natural Resources Ministry to Iraq’s federal Oil Ministry. Ismail said his approach first involves giving the companies a warning that they are “working in the smuggling of oil,” and “If they are a respectful company they will listen to us.” Should the companies refuse to cooperate, the minister said Baghdad would seek to enforce the court decisions through “the law and banks.” [2]
The Kurdistan Oil PSC Contracts
Iraqi Kurdistan oil map. Atrush field. Photo: Provided by Sheri Laizer
Of current importance therefore and worth watching next is the fate of the following fields:
The Sarsang field under the blacklisted HKN Energy=Ross Perot.
The Atrush field is now Taqa (Abu Dhabi National Energy Company) /ShaMaran (Lundin of Sweden) who bought out Alex Cranberg’s GEP Aspect Energy and kept the name.
Shaikan field, is GKP (KDP PUK/ UAE and UK elite). They own 95% of GKP, and that’s why they are paying themselves a dividend of 11% this year.
When, and if, ShaMaran use GEP to buy Sarsang, that would mean the elite of the KDP would own Sarsang, Atrush and Shaikan.
This is big money if those three oil fields should become one and it would amount to the world’s third largest oil field.
A recent public statement by ShaMaran itself read:
Shamaran Announces Sarsang Acquisition Progress
VANCOUVE
Having said that, GKP have been treated (in terms of communication at least) differently along with SharMaran & Addax
Why would these three be treated differently to Genel / DNO / Western Zargos and HKN?
I guess we may well soon find out
GL ALL
Well, one could postulate that none of us are in any position to know the absolute truth therefore all are mere opinions.
And as such, we ought to live with the fact that none of us will know and can know what is really going to happen or is actually happening right now.
Until the absolute truth is known, and confirmed, then it is pure speculation and bulletin board chat and speculation.
You pay your money, you take your chance.
Its a confused picture for sure, as the Iraqi Supreme Court itself is an illegitimate quango forged in a non constitutional manner in breach of the Iraqi by laws.
So you have an illegitimate court passing non binding illegitimate decisions over areas and companies is has no jurisdiction.
A right mess