Member Info for ANGINA

Come on now FH1 I'm more than sure that you understand that the desperate action to secure buybacks is to award the GKP team when the SP multiples on sale day (whenever that dawns) and nothing to do with fantasy benefits for shareholders !
I'll stick out my neck and predict that these shares will also be awarded and assigned full dividends while languishing in treasury.
They will not be cancelled to cause our remaining shares to proportionately increase in value.
That would benefit only the shareholders.
This process is using up our company's working capital to reward the management team for performing a lack-lustre job in failing to meet their own targets for this small oil company.
How dare they.
Why did the majority shareholders ever vote through this skam - is it the price of silence as to what is really transpiring within GKP ?

Flaring: so this is holding up approval of the FDP is it - do you think the MNR (and above) give a monkey's nuts about polution ?
As SS outlined correctly - managing gas is an everyday occurence in this industry.
It's a mechanism to hold down the SP (along the lines of the delayed payments farce).
Perhaps Kurdish autonomy is still on the agenda due to recent events ?
Whatever.

Memo to GKP's new Bean Counter:
Please don't forget to add the late payments interest to these overdue monthly invoices.

Where have the monies MNR have already received from their customers for the oil we delivered to them up to end November been roosting ? one wonders......

Well I remember the enthusiasm in JF's innaugural adress to us long sufferers at Paris back in 2015.
He had a good grasp of what needed to be done, and set about doing it with gusto.
Then I reckon the MNR lead came down on him like a ton of camel shoot.
Why ?
Barzani was building up to secure independence and (presumably) Shaikan was a hugely significant financial driver to enable this. We can safely assume that Shaikan is a whopper then I guess ?
Soon after came JF's "delicate dance" comment around his dealing with the MNR.
Then the BoD team awarded themselves bonuses, VCP, staff retention schemes - their reward for handing us over to the decimating bond holders.
Silence ensued - and it continues to this day.
Our non-achieving management team continue to reap top industry salaries and eyewatering bonuses however.
Sami bails out, JF continues to act like that deaf, dumb and blind kid in a popular rock musical, old man Barzani has retired into billionaire oblivian (after first securing his boys as rulling replacements of course), Hawramis's wife spits out the baby pacifier, Iraqi population currently seriously revolting at the level of corruption which has raped their country. A few mysteriously and unaccountably wealthy Kurdistani people in power will be trawled through the London High Courts very soon. What a mess.
Wonder if JF will be called as a witness ?
Has Sami escaped in time ? (Doubt it).
Wonder if we are sold ?
Who are the mystery shareholders (who will soon be voting the next round of management bonuses through )?
Same, same indeed.

Shares held in treasury, bought back using company's working capital - are destined to be distributed to the management - at a tax-suitable timing.
They will also of course award themselves the dividends which their shares are due in good time (if we nitpick this too much they'll just deploy more of our capital and award themselves further shares to make up any perceived losses).
End of.
This is GKP - no amount of 'points of company law' or resolved third order differential equations around the facts will change that strategy I fear.

I would have been more impressed if stagnant working capital had been re-invested to buy back then cancel shares to proportionately increase the value of the residue - in the event that they don't/can't work out what else to do with assets.
Not in line with company's internal management strategy obviously.

Why don't you rather focus analyses on guessing, for example:
1) what is GKP worth as a going concern right now
2) are we being marketed
3) are we sold
???

FH1 the 250kbpd race
I was hoping the MNR would facilitate the sale of GKP to a professional OC who have the expertise to get production up to 55k+ bpd.
I guess there will be palms to cross of course - but at least Hawrami and his wife may be excluded from the 'signing fee' this time round ?

Hawrami will have no problem in wriggeling out of these charges.
He'll probably counter sue for deformation of character - and as usual he'll win ;)
Doesn't he have a well respected UK MP who owes him one so will be more than eager to appear as a character witness ?
JF likewise ??

Would be of great benefit to all of us if you two got together and pooled your industry knowledge, analytical skills and intellects to come up with a most probable scanrio around what in heck is going on with GKP.
This childish bikkering and name calling is embarassing and unworthy of both of you.

d55: I bottled out last Autumn and sold sub 290, bought back in earlier at 193/202.
Right now 300 looks like a pipedream indeed.
Hanging around for dividend....
And you ?

Oil related shares are obviously no longer in fashion, blame Tesla and global warming for the death of an industry.
Time to cut losses and buy into lithium - life is too short to be involved any longer.
The corrupt were the only winners here.

Doesn’t this new snout at our trough effectively mean we are not sold to the Chinese (or in fact anyone) - purchaser would have implanted their own beancounter of course.
Batten down for the long haul as nobody will touch us..
Just hope the dividend policy will continue for the next few years as dreams of £3 a share sellout in the next year are effectively wiped out (:

Very droll S-cat.
Sad thing is that it's probably a close summary of what actually goes on at GKP.
Someone is authorising the award of obscene bonuses to a handfull of persons for achieving ....... ostensibly, nothing.
Would a regular update on the latest missed deadlines and technical failures be sssssooooooo detrimental to World security ?

SP being driven down as usual. This is not symptomatic of a company which has been sold for an assumed multiple bagging amount.
So I guess the clairvoyants and soothsayers are perhaps a tad premature this time around.
Would have been a nice Trick or Treat however.

Can't talk for Invstrat, but my apologies for coming over a tad -ve now and then - but after 7yrs of trauma, null correspondence ( so we are left to guess what's afoot - and it usually is worse than our worst nightmares), near bankruptcy, ostensibly creating a handful of local multi millionaires in politically high places, false dawns and back beddaling by our over-achieving BoD it's hard to be optimistic with this decaying albatross strung around one's neck !
Losses in the upper end of 6 figures (and that's nothing to boast about) focus the mind incredibly.
Let's hope for a pending sale, not a sellout.
As my astute late wife observed at a previous AGM "I don't feel this bunch are in it for the good of the little people".
How right she was.

ElBB - We can all take a day off when this bird lands ;)

CNPC don't go it alone in Iraq. Read their own website.
Big question here is - who are their partners in the pending GKP takeover ?
Due to recent geopols I guess Western partners will want out now, how long will it take to round up their replacements ?
More delays in dumping our albatross I fear.

A few comments on recent posts:
BroadfordBay is also contributing as Broadford Bay....... a subtle, but significant difference in names - who cares ?
The ostensibly unnecessary 100m loan would not have been approved of by a rational mystery new buyer - or is that exactly who has requested and approved it to kick off a hugely accelerated expansion phase as soon as they take over ??
America's abandonment of the region will have pulled the plug on USA based IOCs binding for us (irrelevant if we are already sold of course).

Unfortunately that just about wraps up how GKP are seen by the markets Invstrat.
Question is Why ?
Cashti still in power according to Malcy's blogg then. He will decide if GKP is ever sold, and to whom.
Wonder if he is quietly acquiring shares through a third party ?

Replace 'the future' with 'their future' in your 2nd last para of your 13:52 contribution and all makes sense S-cat.
Next round of buybacks and locking them 'in treasury' will confirm to me what the master gameplan is here.
How dare our BoD use company capital to acquire bonus shares for themselves while failing to executive their own expansion plan.
How can we Exposé this blatantly obvious abuse of a public company for personal gain?
Would a thrusting young investigative journalist take up our case?
What's in it for the majority institutional shareholders, and why do the let the game continue ??
Obviously our little dividend payoffs were calculated to appease us, while the master plan is executed under our noses ?

Good summary there Investrite.
Guess that is what most of us older and wiser sukkers on here feel.

Agree sale appears to be the driver here or the excuse for getting nothing done according to plans as land out to us at AGM. Why bother.
Paying off $100M debt would the obvious course, but it wouldn't set the sp on fire either as it is not a loan the company needs to continue business or expand.
How about buying back SA just to see if the Russcies have a sense of humour, or having a tilt at DNO as their dynamic management team would perform a reverse takeover of our incumbents without even breaking sweat.
Hope Sami gets grilled by Malcy or BBC's Hard Talk program when he is free, and he may solve some ongoing mysterys for us.
As if.