Member Info for ANGINA

The prolonged mystery behind GKP taking several years procrastinating/avoiding/excusing for NOT tying in to the main export line (which I believe passed only some 4km away from a Shaikan production center) was two fold:
The road tanker business is a monopoly owned by some of the Ruler's familly (a nice littel earned there).
Also road tankers are easy to divert and who knows how many bbls they are carrying anyway, and if stringent logs have been kept summarizing what was loaded vs what arrived at port.
Corruption is like ugliness - it goes right to the core.
Similar situation regarding disclosing the true recoverable reserves - Best keep quiet guys.

Maybe, just maybe JF anticipates that he will able to boast about expertly leading the lame camel that was GKP back from the precipice of bankruptcy to a successful buyout at £15+per share at the two public appearancies ?
A lot going on behind our tent flaps I hope ?

Yawn .....Best to ignore the obvious kids who are on a paid agenda.

JF picked up in excess of 2M for applying his skills, experience and expertise on our behalf over last year.
Just shows what can be done if you keep yer mouth shut.
Add to that what the rest of the team and bought-in expertise will have cost us to strategically deploy our bulging bank balance to the benefit of the stakeholders - and we'll all be suitably depressed when the eoy accounts are published.

Is a surgeon. She earns less than half what we pay JF. The results of her education, skills and dedication touch all of our lives every day in this community.
Anyone care to list what (ANYTHING) JF has achieved for us over this years at the helm ?
Give yourself a well earned New Year bonus JF.
I'm sure you believe you've earned it, yet again.

For delivering anything tangible by eob 2018. Can't say we're surprised. M&A genius appears to be out of her depth against serious manipulators - so another waste of our cash. SH bigger than disclosed and may contain a further strata of light oil - irrelevant, as nobody serious will touch this asset due to corruption from the top upwards. As poo crashes we should become more attractive due to ridiculously low lifting costs - also irrelevant as getting the stuff to market is subject to pilferring and transport manipulations......... wasn't there a pipeline passing a stones throw away from us ?
Closing the year on yet another low of mis-management and non-communication. Can't even find GKP TV on my pod - wake me up when it's all over.

A good summary Topper - but I think the probelm is that the venerable Ferrier and his BOD see their job as avoiding giving out information to us poor (poorer) suckers who bankroll them.
Thre are two levels of communication running here - zilch to us ordinary shareholders (the performance of the business is none of their business of course), and full access to the Big Boys - which inevitably percolates/leaks out to their Stockmarket mates .
I wonder if this stratisfied disclosure of information is illegal under Companies Law - are we all not equally taking the same level of risk ?

As if JF would use tweets to break his oath of silence - I'd be more inclined to throw further contributions into this black hole of his if he were caught redhanded releasing pigeons.

What makes me a tad suspicious Bugsy is the lack of BOD effort in managing the value of these shares by releasing any positive news. Almost as if they are being controlled by some higher power from doing or reporting anything positive to recover our massively destroyed share price. At least the former bond holders have enjoyed their obscene markup. Who actually still pulls the strings here ? Bonuses all round anyone ?

Best not to ask 191 - you know the answer.
How can a company have a production cost of 3 and a selling price twenty times that - and still be a stock market duffer ?

Why a choke ? This valve is installed at the XMT anyway (not for over-pressure reasons at least on Shaikhan wells unfortunately)
In our situation - on a heavy SG reservoir with no gas lift and relying on the DH ESP to give ANY flow - if the ESP failed, the oil column would go into reverse flow and the momentum/energy of the descending fluid column reverting back into pressure when it slowed/stopped it's downward journey - could further damage the failed ESP or the reservoir and its equipment. Best to have a choke to shut off at the surface and suspend the column to release it back into the reservoir gradually before pulling the pump and sorting things out. Whatever....
I think the conversation here is more around whether production is CHOKED currently - and I suspect that would be a "NO" as we are setting up for installing ESPs to increase/maintain flow are we not ? as the reservoir pressure is undoubtedly falling (hasn't it held up way beyond what was expected ?
Maybe Shaikhan is full of other surprises/underestimations (especially in the as yet untapped lower production stratas) to shock and delight us all ultimately ?

Super info T21 - was there a trade-off whereby GKP were granted an additional share of Shaikan of around 7 1/2% to offset the rumoured accrued debt ?
Any idea why everything has stalled and the BoD have gone to ground re developing the field's production ?
Since Barzani's dream of heading his own country has evaporated (nice that one of the familly is still in charge however) is the true potential of Shaikan still being held under wraps ??

This goes back before my time, but I'll have a look through past messages because there was so much discussion about it a couple of years ago. The sum sticks clearly in my mind, and I could never see referred it in the annual accounts.......

'triffic - what about paying us back that old debt of $300M owed since 2013 for underpaid/non-paid oil contributions ?
It would have bailed us out and saved the 100:1 catastrophe.
Best not to forget this type of thing, dear BoD.

Woops - that should be addressed to Armas !

Wow T21 - I'm the proud owner of damned near the same - just over .04% of this piece of non-performing, non-achieving, non-disclosing non-sense.
What's your break-even I wonder ?

this under 2p by the end of the month Jon - DO NOT issue any news which will stop the crash, or your services will no longer required. I guess this is the type of instruction coming from above ?

Yes 911 the whole asset is being played down and its full potential is hidden under wraps.
As if it is been kept under strict control until local Kurdish tinpots can take it over for personal gain.
Shame for them that Baghdad has full control now - so they may as well let the company run its course and reach its full potential.
Meanwhile only the city slickers can play their clever games and make a killing.
Imagine if Jon was allowed to run the business properly - release the true size of the reservoir, expand production, tie in export spur and take our debtors to court to reclaim the past thefts and broken promises.
Who is he afraid of one wonders, why is he still afraid to release positive news, what does he and his team of expensive 'experts' actually do all day ?
Is it so easy to mis-manage a company with immense potential and become personally wealthy in the process ?
What is hidden behinds the smokescreen ?

Is just a one sided game and the only way to deal with this is to join the shorters on the safe assumption that the BoD are so out of their depth on how to increase production or how to go about attracting buyers.
If any of you are still around, award yourselves another round of performance bonuses then guys, dealing with this level of manipulation by doing and issuing some positive news is way out of your league.

Good you brought that out in the open T21 - let's hope patience will indeed be rewarded.

A balanced and informed reply.
Hmmm - wonder who you work for ?