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That's the most plausible conclusion I've come to too SS - GKP might surprise us all yet.

How dare you tarnish this board with a smidgeon of sense and sensibility T21 ;)

Quite mesmerized and in awe of the depth of knowledge and longterm oil industry exprience of you guys.
So don't we all feel a bit silly for getting involved with GKP and the like....... ?

They have dropped nigh on 25% in a month for no tangible reason (apart from the rising POO and a statement that they will increase investment).
Mysterious, contrarian business all round.

Let's hope you are right SS - we all need to get out of this mess ASAP.
Assume the heavy buying is a positive sign that good news is pending indeed then .......

Let's hope your right then SS - easy to get depressed around here after years of disappointment, deceipt, double decimation and downright disgraceful behaviour.

Struck me that maybe there is no incentive from our team and those locals whom they undoubtedly take orders from - to get us sold off. They would loose this lucrative source of bonuses and incomes. The company that just gives and gives.

OK - that seems to have set that piece of history in stone........ let's move on guys.

Why are we still languishing at a SP which seemingly bears no reflection of our true worth (and potential) ?
Why is it taking so long to ramp up production ? Suppliers want to sell, we have the cash to expedite the work - where's the bottleneck ?
Have any IOCs put in a bid ? - and if they have (since obviously rejected) can't our BoD disclose the history ?

JF's excuse will be "I vos only obeying orderz"
This can't go on indefinitely without a day of reckoning.

Good - that sounds more plausible SS. I'll sleep tonight then.
Still confused as to why no IOCs appear to be biting at us however........
Someone over on the "other" blogg is expecting us to get taken out for £70 I read !

Thanks to Invstrat's "scenario" I'm having nightmares now that this indeed could be the reason why nobody has taken us out, why the resources within the mighty Shaikan are being downplayed,why the BoD are being controlled from above and rewarded for obedience.
All makes sense now (I fear).

Interesting take on things B-Dog.
But I suspect that the MNR hierarchy, supported by the Kurd supremos, as usual of course - are just as impotent as our millionaire incumbents.
These drummed-up bonuses and awards are the control mechanism I suspect. A further round of awatds for achieving our 55k/ day is imminent I predict.
As if the BoD were not already being paid for (eventually) getting our production up !
As soon as the ICG make a cast-iron deal which satisfies the financial ambitions of the tinpos (rather than the less important home-rule desires of the Kurd population) - we may well see a sale being approved, although the traditional 'signing fees' and pending BoD awards for performing this Herculean uphill task will be eyewatering.

Assuming that the BoD's tireless efforts on our behalf are continuing night and day - and now that their VCP windfall is safely in their bank accounts - could I suggest that their next round of stonking bonuses be based on the premise that they manage to sell us for anything like our true value ?
Even I could just about stomach that one.

Dead right SS - like taking candy off a baby. There must have been a deal struck whereby the PIs were shafted then the BoD were rewarded via their VCP within days. And we were powerless to stop it.
My fear about the future is that the MNR won't allow a serious IOC to buy us out as they would loose the control they have over their current puppets.
Keeping the wraps on the size of this monster reservoir is one of the symptoms.
Wouldn't it be nice to ask our two incumbents at a public forum to explain how they morally handle ripping the guts out of the company's PIs, then awarding themselves handsomely for doing it.
They have done nothing exceptional for the company to justify this windfall - apart from maintaining continued silence around serious issues and protracting the relatively simple expansion to 55k/d hugely when cash lies dormant and underdeployed in the bank. Serious doubts emergong around who exactly our BoD is working for.

Congrats then to Jon and Sami.
True value of their VCP is of course the shares they awarded themselves x the actual SP (so JF gave himself a bonus of some £5M today).
If we look back - at the same time they awarded themselves their VCP windfall - my investment in GKP was wiped out at 100:1 markdown.
Such brassnecked gall and abuse of positiion in a public company is unforgiveable....... But here it is - they pulled it off.
If you think the VCP is now closed - think again.
What are they up to for their next getricherkwik scheme one wonders ?

Hard to get excited about a dividend in pennies - when what we really want is a multibagger sale to recover out of this gawdawful mess.

Agree SS - that's exactly how I see it panning out. Question is when ?
I'll be hanging on in untl then too.....

SS - I'll be right there behind you with shedloads of 'positive sentiment ' when this share realises its true value. Meanwhile, nought to rejoice over: favourable annual report, now paying a dividend, more cash than our management know what to spend it on, PoO climbing, Iraqi politics appear to be stabilising, ISIS no longer a threat to our asset, pipeline tie-in pending, a pack of 18 suitors circling !....... how much better can it get for us ?
Let the bidding war commence then - its the best chance we have of realising a fair valuation as nothing listed above appears to work in our favour.
Now there's a positive sentiment.

That none of the IOCs seem in the slightest interested in buying us out of this misery.
Suspicious indeed.
Back to GroundHog days then..........

Sscot - agree with your summary. Surely explains also Jon & Sami's total beligerence on display to all on Thursday ,born out of frustration I reckon, as their efforts to increase production and ultimately a sale of the PSC are being thwarted at every turn by the MNR and now the ICG who are erecting all possible delays and barriers to stop us from progressing (what they surely see as their field) to turn a profit from increased production and even worse - a sale of the PSC.
Recall fondly the good old days when a hefty backhander to the Barz dynasty and associates would get things movin'.