Member Info for bdgm

Thats only the Finance comittee, Not the vote in the House of Reps. Looks like only 167 Present and so no Quorum for the vote

In simple terms, the real likely reason that the Share Buyback is not taking place is..... When the buyback was announced GKP was selling oil locally with little sign of an agreement to open the pipeline, the price parameter for buying back was set at anything below 125p as for the conditions at the time this was seen as good value to buyback. Since then discussions have moved on to open the pipeline and as bits of news have become available the share price has gone up well above the previously agreed share price parameter. However the buyback agreement/parameters are irrevocable, as stated in the RNS and therefore cannot be changed.

Purchases of Shares will be made on the Company's behalf in accordance with the agreement with the Brokers and may continue independently of and uninfluenced by the Company during any closed period to which the Company is subject and/or if the Company comes into possession of inside information.

The Board have made it very clear that the share buyback will take place " within agreed parameters ". The only shares bought back so far were when the s.p. fell below 125p. Makes sense to me that the agreed parameter is below 125p. No other agenda .

Last day of the share buyback today

Another 125000 shares today will take the Share Buyback to over $9M . Onto the last $1M over the next few days and then the price support will disappear

All sounds very positive and feels like we are getting close ..... but I've thought that about 20 times over the last year as various comments have been made by politicians, and I've been wrong every time.

Definitely not a one off Belgrano, Khor Mor gas field has been attacked a number of times over the last few years.

To me that makes no difference at all. The pipeline isn't the issue. The issue is getting contracts and back payments sorted out.

Last 2 meeting dates , Nov and Dec, PSN has gapped up and finished 4/5% higher. Lets hope for more of the same tomorrow

Definitely not $80, our oil has a massive discount to Brent price, i'm sure someone on here could give exact discount.

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 ?

This is not a journalist sharing old news Nettles. Last year a number of engines were taken out of circulation due to the problem. Now the whole fleet has been grounded. A big difference so lets have the truth.

RR Trent and GE are both used on the Dreamliner but the Air India fleet use the GE

Air india 787 Dreamliners, which they use on that route all have GE engines

United airlines existing 787's are all G.E. powered. CEO Scott Kirby has said they will stay with the G.E. engines for this new order of 100 aircraft.

2phevs, Those last 2 links are old news. Look at RNS of 4 April this year