RE: Despite25 Jul 2018 15:59
Mr Marshall:
Correct me if I err - but we are party to a dubious PSC with the KRG - which Baghdad is less than happy about (and btw now has enough clout over Erbil to enforce that all Kurdish oil sales go via their good selves - since Barz's tilt at a breakaway state fell flat).
Why else do you think that the BoD's plans for field development have stalled - despite cash at bank, suppliers of oilfield equipment eager to do business, protracted arguements over the "Revised PSC" before any spend to increase production as the POO soars - are a tad worrying (you see - poor Jon doesn't know who he should be negotiating the revision with).
Why do you think that none of the IoCs have walked in and bid for us ?
Only guessing, but I think it may be something to do with the above factors.
Silly me (and our silly share price rather confirms this, eh) ?