The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Last 2 meeting dates , Nov and Dec, PSN has gapped up and finished 4/5% higher. Lets hope for more of the same tomorrow
See 26 Jan 22.44 link from Morbox.
"Unable to access export prices, the operators have turned to the local market and local refineries.
“Local sales have been up and down … I think some supplies from the KAR refinery were being diverted into northern Iraq and they’ve come back in November. That has led to barrel-on-barrel competition in Kurdistan,” Harris said.
“There’s also capacity constraints at refineries, around certain types of crude, there’s logistical constraints and there’s also the fact that we’re selling into an oligopoly marketplace.”
My take on those comments by our CEO were that he wasn't sounding particularly positive on local sales.
From the last op update. " while the Company is receiving advance payments for its net entitlement of 36% of gross sales revenue "
Essentially GKP is break even at 18,000 bopd, last update we were at 21,900. The question is what will the next update tell us bearing in mind the comments made by the CEO
I've not bought GKP on its ability to sell local, I'm in based on its potential over the next few years when all issues get resolved. However short term i wouldn't be surprised to see further downside, which I would see as a buying opportunity.
Just drawing my own conclusions from the comments made by our CEO. Thanks but not a Moron.
Unable to access export prices, the operators have turned to the local market and local refineries.
“Local sales have been up and down … I think some supplies from the KAR refinery were being diverted into northern Iraq and they’ve come back in November. That has led to barrel-on-barrel competition in Kurdistan,” Harris said.
“There’s also capacity constraints at refineries, around certain types of crude, there’s logistical constraints and there’s also the fact that we’re selling into an oligopoly marketplace.”
That doesn't sound like a man who's next op update is going to be very positive.
Definitely not a big ramp up of local sales, I would be happy if we have maintained the low 20,000's bopd. But wouldn't be surprised to see a fall in local sales from the last update of 21,900 . Is it going to be below the break even of 18,000 ?
2phevs, Those last 2 links are old news. Look at RNS of 4 April this year
Yes my thoughts are the 1.60 this morning was a good time to get out and look at buying back after the Rights Issue. But i do stress thats just my opinion, i could have misjudged it. Others on here will have different thoughts. As i said before if you really are unsure it may be wise to sell some and reduce your exposure to both losses and also potential gains
Mazzno, only you can make that decision. It really does depend on whether you think the price will go higher from here or if you think the price will go lower. I am happy not to be in at the moment as i think the price is heading lower, but thats just my opinion, i could be wrong. If you really haven't got a clue then selling some now will reduce your risk to losses should the price fall but also reduce your potential profit should the price rise. Sorry that wont be a lot of help but it really is down to you and your decision about where you think the price is heading.
Another one out of AMER, Bought here just before Xmas and have added more today. Good Luck All
Just can't see an all share takeover. In relation to the possible offer from M&P Amer made it clear that it was not at a level nor in a form that merited further consideration. To me that says Amer are looking for an all cash offer .