Member Info for ANGINA

no, make that lead Zeppelining.
What is causing this latest crash ?
Now would be a good time for a buyer to launch-in and take us out of our misery.

Clear sign that we are not sold is that JF and his team of top industry specialists are still around after failing to meet any of their self-inflicted targets. Chinese/Ruskie or even Indian owners would have them removed post-haste.
This procrastination is stopping the field's potential being realised in a timely manner, and denying the people of the region additional revenue just when they need it to rebuild the tradgedy around them.
Congrats on your successes then JF and your merry and increasingly wealthy band of professional oil men.
Are they above being accountable ? Only reason for continuity must be things going on under the surface which shareholders have no right to know about.
Who would they be accountable to in a real company ?

Hang on in there - silly to sell when the company may be instructed to do likewise and if the sale is 'honest and above board' it may even be allowed to exceeed today's SP by a few % just to make it look attractive.
All depends on the brown envelope sums which are needed to get the signatures - nothing to do with when, whom or how much oil is said to be in the asset.

All that was holding back the PSC / FDP approvals was the amount of kickback probably.
Now that this process has been exposed in the biggest possible way - presumably there is a better chance of action from now on ?

So - money in the bank, stuff lying around on the ground and down holes, no need for ESPs as the massive beast is producing for free, gas injection campaign only being undertaken to meet MNR requirements to cut flaring, pipeline tie-in a jubilee clip away.
And we are worth - NOTHING.
Are we even on the market ?
Why will no-one touch us with a barge pole ?
The is a Case Study on mis-management.

Jinping puts retaliatary 5% tariff on US oil today.
Bid Deal.
C'mon Xi - extract yer chopsticks and instruct CNOC to buy DNO GKP & GENEL and you won't NEED Yankie oil.
Now that would be an effective retaliatary move to stuff Trump where it really hurts.

Could be right there Inv. Had many false dawns over the years here 'though.
An oil company running out of reserves with a professional management team in place must be looking out for a bargain basement oil producer with money in the bank and not a clue what to do with it.
Get this sold then Jon, we just know you'll do good by us in the end.

Hmmmm - whatever.
I think we are all sad, little old men (and wimmin) if we are involved in this play :(

Just read an article re lifting costs in North Sea - they average around $30/bbl seemingly.
GKP are under $3/bbl.
Something doesn't ring true here - shares in the doldrums, investment capital undeployed in the business, BoD seem to have lost their tongues, the sticky finger suspects heading for the courts, massive effort to underestimate the resources.
Wonder if we are already sold to a major player who is not risk averse ?

May thanks for your erudite explanation T21.
Clear and to-the-point as usual.
Oh - a friend took delivery of a very impressive T.Thruxton classic on Monday ..... it is probably a better longterm investment than this Game of Clowns !

Another $20M into the bank account then.
Apart from share buy-back campaign, what else are our BoD doing to reinvest in the asset and improve our company with this huge amount of underutilsed cash languishing and earning next to nought ?
Maybe DNO will have another try at taking us out for the $300M + which we must now have on deposit ??
They'll probably get us too !

If an entity wants GKP on the cheap and buys up shares until they have 50+% - these dealings would be obvious surely ?
How could it be stopped ?
GKP appear to be the only people doing this type of share purchasing campaign at the moment.
I was hoping we are all hanging around until a big player made a tempting offer for the company up front, rather than chipping away at buying in small amounts unti lthey have overall control for tuppence a share.
Can some of you clever guys correct my assumptions and explain how this will play out please ?

I think the tactic is to bore we few remaining PIs into submission ?

That would be a sweet outcome SS - but how long will this dddddrrrraaaagggg on before we get a positive result ?
Wonder if this will allow the "For Sale" (or "SOLD" ) sign to be officially hung up ?

He will turn over any loot the courts can pin on him "To be used for the benefit of the Kurdish People" as he was only securing it in a safe place under his/his wife's names to ensure its safety in the event that IS over-ran the Kurdish region.
He will easily escape prosecution, and also be hailed as a National Hero.
All will be well.
We will be the only losers here at the end of the day - how could we be seen to claim back some of the loot which was being held in secure accounts for the people of the region by the Good Doctor HawHaw and his wise foresight ?

Like the cut of your jib SS ..... no matter what sh*t I throw at you - you come back with consistent and credible replies ;)
And that's a good sign on here ;)
We must arrange a meet ?

All this chat around high finance and who said what is confusing and my brain hurts now.
Are we sold ..... and if it is underway - what tangible clues do we have ? (not that any wil be allowed to leak out).
None of the other players in Kurdistan oil have been sold or are rumoured to be "under offer".

It would appear therefore that nobody will touch Kurd oil with a bargepole.
Presume this is due to the political wranglings, the unrestrained corruption and instability in the region (we also appear to have the "wrong type of oil").

Looks like we are Donald Ducked then ?

That's another 18M in the bank which our crack management team don't have a clue how to deploy to increase our value.
At least Sami came up with the share buyback and dividend ideas to his credit.
Probably cost him his job ?
Our Market Cap is now made up of nearly 50% cash at bank.
Business Schools will soon be using this farce as a case study on mis-management of a public company.
Some of you guys are seemingly Oil Field specialists - can't you bury hatchets and make up a shareholders advisory team to bail out our overpaid overwhelmed team of "specialists" who are day-by-day assasinating their own CVs ?
Serious people in the business must be laughing at GKP's public display of incompetence.
Good luck in your next venture Sami - you were probably our last hope.

That would equate to a value per share of around $42 if the new PSC is neutral and oil does drift up to $100/bbl.

What would a prospective buyer consider offering us in a buyout 10% of that, 25%.... ? to get their hands on an asset which would return them a multiple over many years to come.

Remember the old industry saying: "big fields tend to get bigger" !

I fear you are right SS - the corruption runs at DNA levels thereabouts, so exit strategies are well in hand as all levels are involved and no doubt lives will be at stake for the kinds of monies which are being mentioned.
The common Kurd population should be grateful to their elected government members for taking the initiative and foresight on their behalf and depositing their country's wealth into temporary private refuge outwith the 'war zone'.
Won't be holding my breath that the long-abused IOCs operating within this clusterflux of accrued debt, partial payments and interest due will be considered as part of the eventual repatriation settlements, so we'll be footing (have footed the bill) as usual.