Member Info for Bantercity

haha, no worries!

Just to clarify. I am a private investor with no links to oilman. I am a long term holder and extremely positive for the year ahead for us.

Brent pushing through $60. Onwards and upwards . I am eagerly awaiting an update from the company.

Brent back to 58 dollars. Hopefully the rise continues in line with OPEC cuts.

A nice 500k buy going through after the bell. Hopefully this means news and a good update incoming.

Does anybody else wish that the company communicated what is going on clearly and concisely to its shareholders. Rather than people having to dig around through Mol presentations and chinese studies fueling speculation across the boards. Sigh....

Am I right to conclude that these studies are implying a porosity closer to 3.5% rather than the 0.4% given in the CPR by ERCE.

Would this indicate a huge upgrade in reserves? Or have i completely got the wrong end of the stick here?

I would love to know your questions and the companies responses if you were willing to disclose them.

Its around the 31-32 BOPD with the plans and funding in place to raise this to 55k BOPD by the end of 2019.

Now through $84. I cant believe this has been range bound for the last week or so. Im looking forward to smashing through 300p

how are his number completely wrong? Have you done similar calculations? what were your results?His calculations for 32,000 over the last few months have been very close to the money.

Anybody who hasnt checked out 99Lemmings calculations regarding profit generation with current production and forward projections for 55k BOPD should check it out on twitter. Very impressive numbers and shows the true potential of this company.

Oil trading at over 81 dollars after recent OPEC meeting.

I took some inspiration from the derampers and picked up some more after the non sensical drop.

The last payment was announced on July 13th. In the previous months it was generally announced between the 15th-24th day of the month. Why would you expect the announcement of a payment 2 weeks early? It was announced weeks ago that the pipeline construction was in its final phases and would soon be operational. with this information freely available in company presentations. The board were happy to answer questions at the AGM if you had such major concerns why didnt you attend and ask them yourself? You could have had some first hand answers rather than randomly speculating on message boards. At the AGM it was clearly stated that there were no issues with the wells and the upgrades to 55,000 BOPD should be straight forward.

These are normally one off payments not an adjustment to the PSC payables. Its also highly likely that these payments will be written off against historic debt due to GKP from the MNR.

It is under "3p" with 200 odd million shares rather than 700 odd million pre-restructure so for comparison its now closer to 7-9p.
I hope that makes you very slightly happier.

I can clarify Jeffs comments a little bit. Jaap didnt say that he thought it wouldnt be right for him to purchase shares. It was made clear that the company was no longer in a closed period but Jaap did not want to purchase shares due to possible regulatory issues for himself as a director. He said it is very difficult to prove that as a director that he is not privvy to market sensitive information before purchasing shares and for this reason it was basically not worth the hassle. It sounded like he may have had similar issues previously and didnt want to deal with these issues again.

I assure you I am authentic and would have been happy to have a pint with you after had you been in attendance. I was speaking to Jeff, a gentleman from south Wales who asked some good questions in the Q and A session. I was surprised with the low turn out for the AGM also by financial institutions. Landsdowne had a representative present but they didnt ask any questions, I am assuming the big boys are reasonably happy and informed with what is currently going on with GKP.

I attended the AGM this morning as I had mentioned I would a few weeks ago. It was a fairly low key affair with only myself and another 3 private shareholders in attendance. It was as expected quite a positive meeting and great to hear some things clarified from the "horses mouth" so to speak. You can see from the presentation that topics covered, for me the main things I was very happy to have clarified were that the wells are performing well and as expected with NO water or gas issues. The company is fully funded in the phase to 55k bopd which should be a relatively straight forward process as everything has been "done before". There are no issues with the ESPs, they can be installed easily and as standard. Some people across the blogs have mooted various issues with the wells, water issues and ESPS, this is not the case according to the experts on the board. They seem well prepared to move ahead with the move to 55k asap and the developement of the next FDP is underway as well as negotiations with the MNR and MOL regarding the amended PSC which should be concluded in Q3. I left feeling quite positive and think that the next 6-9 months could be quite an exciting time for this "boring" oil company. The pipeline tie in is expected to reduce costs by about 1 dollar per barrell also which will also be good news with PF2 being hooked up in the coming months and PF1 next year. So all in all quite a positive agm in my opinion, good to see the team in action and also clear up some of the crap being claimed around the boards. Best of luck everyone and hopefully this is only the beginning of the recovery.