Member Info for ANGINA

Malcy's a decent guy - I'm sure he was party to what is actually afoot here, but he'll keep his word to JF until things break...... which just adds fuel to the fire that something substantial is indeed pending.
Let's wait and see.

JF would have no recourse but to contribute the ten mil when the MNR boss called for it as his implanted watchdog was there specifically to ensure compliance - to the letter, in all matters, three bags full.
You see, JF was not running our little company ......... wonder if he is now ?
Was Sami so p*88ed off with this charade that he voted with his feet.
Wonder what will be exposed of the various MNR goings-on by the bewigged London prosecutors?

I knew of JF while at Mærsk, and took the trouble to be at his ( very promising ) debut in Paris - but have been rather dissappointed with performance and attitude to running the business since.
Was he 'GOT AT' by Hawarami and brought under Control ( clue was complying with the incredible order to take on The MP as consultant/adviser ).
The great 90% wipeout was his next milestone ( perhaps avoidable if a full CPR of Shaikans treasures had been made public and then non-risked funds would have been more forthcoming to pay off the Bonds as interest rates were based at 3% around then ).
How could he justify the bonus and retention schemes for he and his cronies gleefully announced at the time of our wipeout - that was next to criminal when we PIs had been all but destroyed.
Failing to augment any of the production targets recently within schedule, hiring in a non- compliant workover rig.
Using Company funds to buy-back shares for future rewards to the BoD......
I think that's enough to justify a large question mark over his performance here at GKP.
Meanwhile - drawing a fabulous salary, plus bonuses - and now lining up for massive payouts at point of sale.
Smacks of the good old me, me, me syndrome.
Of course these actions can only go uncontested if the majority of shareholders are behind them.
We PIs are therefore treated as irrelevant and are impotent to object or be heard.
What's he up to next, and why would Sami not go along with it ??

Cash at bank / no. of shares in circulation.

I never considered that we got £1/4 M pa benefit or expertise from the MP.
OK JF 'vos only obeying orders' when told to take him on by Hawhaw.
He is long gone - so how on earth is he still due another windfall payout when we are sold ?
At least he can apply his considerable intelligence and knowledge of the Kurdish oil business for the benefit of the good folks of S-on-A, who showed such wisdom in voting him in.

Falling like a Lead Zeppelin - corruption, weak management making wrong technical decisions, continued non-disclosure around what Shaikan really holds. The perfect storm centered over GKP continues.
Wonder if we're sold ?

Yes, time up for the billionaire ex-Kurd rulers....... we all know who most of them are.
If the ICG takes positive action to recover most of the syphoned cash we all should benefit: the Kurd people may get a fair deal, the IOCs will be more inclined to buy in, we may get sold, stable politics under Baghdad rather than the getrichwkik tribal playboys will attract inward investments.
Wonder how the Chinese read this ?

Had experience of the Chinese muscelling into Angolan oil.
Deal was: rebuild the infrastructure in exchange for cheap oil.
Gangs of Chinese convicts arrived to do the grunt work at rock bottom labour rates one assumes ! All materials: building supplies, steel, concrete, rails, new locomotives & rolling stock, concrete pipes, construction machinery etc. arrived at the docks. Technology and systems arrived more subtely.
Return flow was of course oil from the Angolan state oilco.
Just how they will buy out the likes of GKP via this normal business model is obscure - will GKP be ordered to sell out for the price the Chinese & Baghdad settle on ?
A wee bit worrying when the Chinese get their feet in the door.
Donald's IOCs teamed up with US civil works consortiums couldn't possibly put a package like this together - and certainly can't offer anything like the prices the Chinese will put on the table.

I seem to recall from the dim and distant past statements like:
"Shaikan's resources were enough to kick start a Nation" wasn't that Old Man Barzani's dream ?
"13Bbbls plus" was another....
"Big Fields always get bigger"
His attempts to pull away from Baghdad and Iraq then became a bit tighter to achieve than he had bargained for.
GKPs disclosures as to what Shaikan was capable of producing presumably led to why Baghdad wouldn't let it go .
Things were buttoned down pretty quickly after that.
Presumably the MNR were instructed to shut this new wide-eyed , open information, young JF at GKP the hell up - and as we all know, they certainly did.

Still a mystery as to why the many IOCs durrently spending billions searching for fields in obscure and expensive places aren't fighting tooth and nail to secure our PSC.

Let's just wait and see then Tom....... some good must come of this mental cruelty !

Hmmmmm - that sounds like a dismissal then ?

"please don't tell me" - this is GKP, so I don't think you need to ask not to be told !
Can't wait for Sami's book to come out as he must be sitting on a myriad of deep, dark disclosures.
Wonder if he'll be called on to testify when the London Court cases kick off ?

AB block: yes, well I remember feeling a bit peeved that we had to PAY to hand it back to the MNR whom (at the time) owed us an eyewatering amount for unpaid oil (plus interest on outstanding amounts - which I guess has been conveniently forgotten, and it has never been invoiced even now).
Maybe Sami was bagged because he tried to claim it back from the fearsome head of the MNR ?

Thanks Scat ...... I was wondering if anyone knows what % of overall shareholders do we insignificant PIs make up ?
Did we ever manage to form an action group - in an attempt to get treated as real people by our BoD ??
Found this snippet on Linkedin from JF's own pen:

"I am particularly motivated by; the need for sustainable investments in energy, value creation and the need to restore public confidence and interest in new talent. Success will come to companies with a clear sense of purpose and a strong set of values. My role in such companies is to lead the identification of opportunities, develop the investment case/business rationale rooted in a clear understanding of the assets and a plan to add value - and create trust in relevant stakeholders."

He really isn't living up to his own goals for us minor, irrelevant , insignificant "stakeholders" now is he ?
He appears to treat different classes of stakeholders differently then.

Who's Paul ?

Ever - Yes, I am quite sure the BoD will leave GKP with eye-watering wealth. Sodden and Sami will have secured their share of the pot 'free for all' before resigning too.
When they look back on their lucrative time at GKP they will not have much t be proud of - minimal achievements on the ground, missed deadlines, no growth..... a sad storey (but at least they will be leaving as millionaires - several times over in some cases).
Nice work if you can get it then.

More cash indeed - shame that our management don't have a clue how to deploy it to improve the business.
Signing up a non-compliant drill rig was the last positive activity they did for us.

Could always use our ridiculous mountain of cash at bank to buy back cheap shares to hold "in treasury" for director's future bonuses (which will undoubtedly be in the form of company shares).
Only a wild guess of course.

I too am can get a bit despondent around this share - I think the MNR director put the fear of death into GKP, now that he is removed and is in fact about to be exposed in the London courts.
There would be no more reason for JF to stay tight-lipped in fear of Hawhaw (remember his inauguration speech in Paris where he fully recognised the need for the company to become more transparent ?). Therefore a pending sale with attached security clauses can be the only other reason (Shell's takeover of BG was so tightly held that it stunned us all).
Any other comments/explanatins ?

I take your meaning Proff - but the current management team are surely capable of utilising our healthy income stream to actually grow the business.
The share buyback is a ruse to ensure that the BoD have their pile of goodbye gold secured at rock bottom cost.
If continuous business was the plan - the BoD would have paid off the longterm $100M loan yonks ago.
The fat pipeline gives a clue as to what is to come from Shaikan.
Sami's departure gives a further clue as to when.
The fact that a non-compliant Chinese rig was contracted to do our workovers and drilling is a sure pointer as to who has us in-the-bag.
The lack of comms from the BoD is a further clue that there is MUCH more going on than is being disclosed.
As soon as the revised PSC is signed, the flood gates will open as I'm sure this is the final condition of sale.

Sad to here more bad news around the GKP saga B98.
I has indeed been a life changer for some of the Old Team.
On a brighter not - as one oldtimer used to say on here: "Time to fill yer boots" ?