Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Well presented Q ss. Holding of breaths until M replies.
Wonder how an IOC would value us ?
10% of GKP's projected field life revenues at today's POO on the current 2P+2C (well they have to make a profit too).
I'm sure it's way more complex than that.
Over to you Mikey.
Interesting T21 - but can you realy see any of the assorted tribals in the KRG (and especially the MNR) voting to pay back a longstanding debt which they know and believe should be (has already been) split up amonst themselves, back to infidels with a tinpot company and bewigged olde worlde lawyers based in London England ?
So had the KRG (I almost wrote KGB) paid their share of the initial development Capex when it became due - would GKP have avoided the bond holders takeover and the decimation of us PIs ?
If so - when can I lodge a claim against the KRG for my personal losses ?? As if.
A load of potential leaks then SS/Cocky - the brutal truth will out eventually, it always does (or in our case - has).
'SH is a monster' is the underlying rumour on the street. Never heard it referred to as anything other.
Jaap - who he ?
The big guy never utters a word, maybe just filling yet another deserving seat in the GKP boardroom ?
Perhaps he's known for his indepth oilfield, marketting or merger/ farm-out expertise (we have one of the latter already seemingly, and she is equally vocal and effective).
Perhaps a mate from JF's Mærsk days, or a Good Old Guy from the squash club ?
Who cares ?
Certainly earning his keep here.
I would be very surprises if several IOCs have not run their eyes over us.
Nothing much approaching our size has been found over the last few dormant years when exploration was shelved due to the collapse in the market, and of course there are probably fewer and fewer elephants like Shaikan out there - and less incline to risk company resources in probably not finding them.
We have just nervously restarted Explo campaigns offshore - but at $30-50mm a pop, they are mainly infill developments in well understood areas and not wildcats. How many of these is a sure thing like Shaikan worth ?
Seems unbelievable then that Shaikan - a monster proven field, staggering along producing at a fraction of its true potential, notorious in the industry only for it's checkered financial past, colorfull management, decimated stakeholders, and now an admirable consistency in failing to meet current development targets - should not attract attention from the movers and shakers.
Let's hope our esteemed management are doing the right thing by us in flirting with several serious international suitors and ensuring that we do not go out in a damp chinese cracker firesale scenario.
DHESPs
No need to resort to FMEA in-depth Chi2 analyses here:
Reliable as hell, and cheap compared to what they achieve for us.
We adhere to the suppliers recommendations when they service/replace the pulled units.
Biggest problems have been damaged cabling and impeller erosion due to sand and/or gas (causing cavitation).
(are the SH. wells starting to gas out !)
End of storey.
Lets move on -
Who stands above the MNR mafia then ?
Can't be old man Barz as he is presumably history now.
Can't be Baghdad as they are seen as the enemy still.
Must be the majority holders you refer to - those who diluted us by 90% - but why would they work to destroy their own SP and portfolio value ........ I wonder what really lays ( or is it lies )!behind this catastrophic company then ?
I have just commented on GKP that there appears to be serious pressure to get (and keep) us both under 200p.
Due to recent Good News here having no effect - there must be underlying pressure being applied at a level we are not aware of to continually batter down the SP to a predetermined level.
I can only conclude that it must point to the MNR calling the shots.
Do we operate in a Free and Fair stock market ?
I think not.
to get us below 200 it would appear.
Question is - who is selling when it is common knowledge that there is something "in the air" around GKP ?
We must be the joke of the LSE - thanks to JF's continual silence, due presumably to his fear of the Big Boys in the MNR.
Smoke & mirrors indeed SS - I bet MOL got their fingers rapped for overstepping the blackout recently.
Something is undoubtedly afoot, but the lowely PIs will be the last to know (GKP company policy, you understand).
Is selective information release to stockholders normal practice in a public registered company in the UK ??
Some evidence of the queue of IOCs sqabbling over us would be a comfort at this time.
Impressive analysis by PH 'though. Way beyond the level of info provided by our incumbents.
Now where did I put that Aston Martin catalogue.......
The big negatives around us appear to be 1) unresolved PSC 2) unrecovered longterm debt due from the KRG 3) unresolved KRG ICG politics 4) seriously underestimated reserves 5) operating in a region where corruption is rife, admired, and goes unpenalised.
Any others ?
JF can surely take on items 1,2 and 4 - should he feel motivated and inclined.
ERC were re-hired to serve up and regurgitate their vast underestimation, as ordered.
Use an FP of 0.4% , decimal error for a more representative 4% (anyone can make such an error).
Recall the reservoir being quantified to "the area enclosed by the M25" and "riddled with fractures" I also recall it consisted of at least two distinct, stratified production zones.
This was of course before JF and our BoD were subsequently gagged.