Member Info for ANGINA

Lets be the second group to collectively forward our felicitations. Must have been the excellent job he did at GKP for his big mate HawHaw.
Hope he doesn't get dragged into the witch hunt which is kicking off around missing Kurd Bills or it could tarnish Boris's ability to choose wisely (and only after duedilly one would assume).
Incredible.

Good summary scat. Have witnessd several IOC hatchet jobs, and the majority were rooted in personality clashes as this industry attracts an overbalance of mucho-machos by its very nature.
Maybe he had a clash with the Dutchman as they are particulrly overbearing and do not suffer inferiors injecting their opinions !

Thanks for recent good dialogue guys/girls.... pleasant reading at anchor as the sun dips.
Mate said The Great Wall Drilling co. were active in our area quite recently - just tubing work for us (or perhaps a side order was being wokked up under the table too) ?

It's a balancing act: the humungous cost of exploration (especially now in deep, cold water) versus tainting company reputations by dealing with dubious characters sitting on easily proven reserves with peppercorn extraction and marketting costs.
When and how will it all end ?
FDP, CPR and any other 3-letter oil industry abbreviation you like to conjure up to justify delays, missed or broken promises, closed ranks and perhaps even fear among those entrusted to managing our investments - seems to be the key.

Even with the cost of production at around 10% of our selling price, we are a sp joke. How many businesses could only dream of that level of mark-up ?
Something essentially rotten around Kurdish oil which will take years to remove.

Don't worry about Ash Tea - he didn'tbecome a billionaireby honest graft I fear. He could sink the Bar-z tribe with his testimony, so quite safe - however the Ex is about to blow Jakob's trumoet on him - so best if he is sidelined temporarilly until the blowing is over.
So we were valued at 10B by the big boys a few years back - that's around 30 bucks a share (irrelevant whether $£€) - where did it all go one wonders ? Now we appear to be worth diddly-squat.

Not even the professional Oil Industry managers who run things at DNO and GENEL can get their albatrosses off their backs and either rampes up or sold on.
I am coming round to the conclusion that those who run the country via the MNR are just waiting to take these incumbents off our hands for rock bottom prices and repatriate their oil.
Maybe they are buying in quietly but surely while denying all attempts to increase production.
Under no circumstances will they allow IOCs onto their patch, so I guess we can forget ever being sold for anything like a fair value on the open market.
At lease JF is doing his best for us via share buy-backs and divis.
Sami left because he lost hope of ever building this into a merketable asset perhaps ?

To get my mind round the simple sum that our market cap is equivalent to our bank cash + outstanding debt owed - 100M loan.
So the PSC and future profits from producing from a very large reservoir, plus the hardware on the ground - are worthless.
No wonder nobody in the oil business is particularly interested in picking us up as a going concern !
Maybe time to award the BoD their latest bonuses for services rendered, close shop, and move on.

Zahawi on your BBC right now spouting his wisdom about the election.
Wasn't he the same guy who was planted by the MNR as their watchdog on the GKP board at a disgusting retention for doing absolutely NOTHING during the time his mates were defaulting on our monthly invoices for oil supplied ?
How can the UK voters be so gullible !

Good points SS & Prof. Back to Sami's withdrawl from the dripping roast as a potential clue:
If removed or squabbling with JF or disobeying the Masters he would be out within a very few months, if ill health he would be gone already.
Dare we surmise then that we are close to a sale announcement and his services are no longer required (after a suitable 2Q handover period ?
....... Where's that Aston Martin catalogue dearest - I feel a Royal Flush coming on.

Had to come out, and here it is.
Surprised the aggreived lady made it to court.
Has this timely and profoundly damming exposure got anything to do with our Sami's rapid 'exit stage left' - or am I just adding 2 + 2 and hitting a nail squarely on the head !
From memory (help me here guys) - the wife was stick with laundering a $9 figure sum of 'familly' money, she got caught in Turkey I think, claimed her name had been used in some worryingly shadey bank depositing - unknown to her good self, papa Barzani threatened to punish her (are Kurd pots and kettles black ?), she escaped and luckily el presidenti didn't have to put her on the stocks or she may have squeeled to the press louder and earlier.
She's taken it slowly and gone for the Full Monty in open court. Clever girl - I guess the Henley riverside bolthole may well be on the market via Crown Office agents quite soon. What about the splendiferous other foreign assets - both real estate and numbered discretely in the Alps ? I'm most intriqued to find out where a mere govt. Official in an empoverished state, struggling for survival, with an honourable population suffering hardship because the govt. couldn't afford to pay them, doing us all a huge favour by fighting for it's life and destroying IS - could ever amass these eyewatering sums. Makings of a book and one of these in-depth BBC documentaries here I predict. Hopefully none of us in and around GKP will be party to any of the shenanigans when the fit lady sings.
Just my imagination running rife here of cours - wait for the real storey in the tabloids.

If the money is not in the bank - it is been deployed in or on the ground, hopefully...... same-same the company is worth that contribution whether it is crisp notes or (presumably wisely) used/invested in hardware/facilities, thereby increasing the overall asset's value.

Debtors: $600M, and let's not swep it under the annual report carpet. DEbt owed is debt owed - show it on the books mon ami Sami (or we may 'forget' that its there) !

After the gloomy picture presented in the 2018 Annual report, I'm hardly surprised at the drop in SP.
After all: swelling bank balance, ramp to 55k/day on schedule, cutting out last of the road transporting soon, wells holding up with negligible pressure drop after 5yrs of production (means that the reservoir is indeed a whopper - but don't tell anyone), $500 debt from the MNR due ?
All add up to a cr*p SP and an un-rosey future seemingly.
Hard to reconcile why we arestill a wallflower at the Energy Ball.

Fair points there Inv. Do you think the Chinese have backed out of grabbing us ? Or is the valuation process still underway ?

I thought to donate a further contribution to the Barzani coffers tomorrow too - but tonight's news that Iraq will side with Iran is a bit of a shocker.
Trust they are doing a belt & buckles approach incase Iran wipes out Saudi and the USA (as if !).
However, it adds yet another 'degree of freedom' to the indeterminate GKP equation.
Think I'll hold back a bit until we see exactly how The Donald decides to mishandle this volatile situation.

Good point B'dog.
Elections - foregone result: Barzani tribe and henchmen will prevail - or heads will roll.
Whatever happened to our MP superstar and his sworn dedication to GKP and the poor souls in Kurdistan ??

Let's hope (a) is The One then SS !

are here. Perhaps some of you brighter members can untangle them to reach a plausible conclusion as to what in h*ll the game being played with us really is ?
Mounting cash - but our honorable BoD are not managing it professionally by deploying it to grow this company at the pace which could be achieved, a total and lasting ban on disclosing the size of our asset, historical debt a tabo subject, audacity of our BoD in awarding themselves bonuses and incentives in the same breath as they double-decimated their stalwart PS backers (how ruthlessly selfish and insultingly disrespectful was that little play ? - and no, we won't forget it), promises of communication and openness under JF wilted and died on the vine.
I am a bit concerned that our inert and swelling cash pile attracts attention from those who really are controlling GKP as and how they wish - may take offence if it goes to these pesky private shareholders.

Cash Cow indeed: that $300M odd in the bank must have the BoD lickin' their lips to dream up a new Bonus Scheme.
Time to pay off the $100M 10% loan, and kick-off a share buyback campaign.
Why are the MNR holding us back one wonders.....

SS (ffs) I was there too - in the old McD. yard on the creek ..... we must know each other !