Member Info for belgrano

Well at least they are still talking and discussing the issues. Wonder if the pressure from John Kerry has anything to do with it. No USA dollars if they cant reach agreement to export crude would be my bet.

The overpaid and underperforming Iraqi oil minister, is again trying to link other items into the oil and gas issue that were never there at the beginning. Nothing to do with the oil companies or crude losses to Baghdad, just trying to extort more control.

Any excuse to cause more delay and they will jump on it like a shot or otherwise just make something up..

https://www.kurdistan24.net/en/story/34196-We-discussed-oil-and-gas-bill-with-Kurdistan-Region:-Iraqi-Oil-Minister-Hayyan

On the question of dividends and company buybacks I believe the company are completely on board with it. However at the current time as a group they are in effect at loggerheads with Baghdad over their attempts to cheat the Kurdish oilers from their contractual payments.

If the oilers are claiming they req XXX dollars to remove crude, the current time might not seem appropriate to distribute millions of dollars to shareholders.

Just being a bit sensible that's all.

Few chunky transactions taking place today. clear moving of positions in effect or I suspect selling into the recent jump.

I wouldn't get hung up on the pipeline opening is not much closer. Clearly the IOC statement was to counter notes no doubt originated from Iraqi politicians designed to deflect direct discussion from the USA, ( ie "its all in hand," while doing exactly what they've done all year ...nothing). Now those corrupt politicians have no stone to hide under.

Might actually force them to do something significant, but we'll hold our breath on that one. However they are desperate for water now so something has to give.

Think we must keep our feet firmly on the ground, and see that the share price is currently very low indeed and what I'm hearing is yet again "more jam tomorrow". If you preview history this has been the same with this company and opti on quite a few occasions with the pump and dump merchants (and believe this is big players), making serious coin at the expense of pi's. If its clear profitability with a decent surplus, I'm taking notice, otherwise cash in any gains with a pat on the back.

Baghdad is quick enough to get its hand out asking for financial assistance and American dollars. Little wonder that its already taken over a year to sort out a mess of its own deliberate making.

Its a shame because the gut reaction is "they don't deserve one cent", but then its the poorest who will lose out and the militants who will move in, with the blessings of the many corrupt politicians in charge.

However it does add weight and publicly shows them up to the world as an un-investable country unless you are from a corrupt country yourself where its fine to bribe and extort.

However Baghdad is trying to get more investment from abroad...funny way of trying to achieve it.

Hi Elrico,

We are all here to make money, not to buy this stock just to promote health rewarding products although I do get satisfaction from reading the life changes our products have caused. I'm not owning up to any blunders here as in hindsight I did the right thing, have however shared info on how I got wiped out on one oil company and had almost a 3% declarable holding. That wipe out of a Canadian oil minnow was caused by nothing to do with the oil company but Saudi crashing the price of crude in order to try and kill off the small producers. You get the bank foreclosing, the stock wiped out, then hear that the bank offloaded the field and another company is producing from the same wells.

Bit like a price slump here and a forced foreclosure ,with shareholders cleaned out, then hearing that Croda are now producing all our products with SA working for them. It does happen.

I look forward to reading it Elrico, I really hope this stock does really well. I'll also be the first to admit I was wrong as well and those topping up now have got the bargain of the year. Its the hard cash flow I'm interested in, or even confirmation of a decent revenue stream but awaiting settlement is also good.

With inflation currently high every couple of months we lose another percent of your investment unless it returns a dividend or capital growth.

So with our high wages bill, and timeframe to getting into true profitability, and stock overhangs held by organisations like OPTI, who will pull out funds if the share price recovers even in the longer 1 year plus timeframe things don't look rosy. investors that have run the slide rule know its come up short on funds so will require further funding.

Not saying it might eventually turn to the good but today looking at the charts we do have a falling knife.

I pulled out completely and had a spat with company posters advocating how great this company was. Glad I did, as have reinvested in a large basket of companies that have delivered some brill returns. However things have gone from bad to worse here now and know we have some really nice guys invested here some of whom I have met. Can really see the price dropping another 25% or so considering the all important market sentiment. Hope I'm wrong but suspect I'm right.

Can honestly say now that I did hold 1.1M stock in this company at the time of the main product launch. This was mainly due to falsely believing that pre sales interest numbers had breached 50,000 enquiries and were growing at "an alarming rate". I also loved the product and believed in it. Huge red flag came up when the sales were a complete flop, homework was not done by our board, about breaking into the USA market and the mighty NPA was a complete red herring. Great product///poorly executed and loss of market impact and product costs.

company just not being run well, despite paying top dollar wages.

Sometimes its really hard to swallow a loss and at least get something back. I once got played by a CEO in a minnow oiler and held just to see it cease trading with a horrible loss. Have learnt now to forget your purchase price and take a good look at this stock right now today. Do you think the price is likely to rise or fall more from here.

If its rise and you like the way things are run and the short term prospects ahead, buy more. If you think value is likely to fall further and not going to see decent profitability in say the next six months, sell some or all of your stock today. Can always return later when its lower.

Do not just think "i'm down % percent, so I'll risk it", not while there are many good stocks out there on the market, and remember time is also a value killer due to inflation.

Not getting into company dealings, but it seems there is a big overhang, and can plainly see which way the big dealers are pushing it. Dont wait till tomorrow?

I would certainly love to see modest divi and share buyback.. Give the board some freedom on quantities while we await the pipeline to open.

It might not take that long to sell the 800K odd shares and might already be completed. However its the decision to offload at best now in my mind that is the biggest impact here. Clearly they do not believe that this stock is going to recover anytime soon. Really glad I jumped north of 20p now, although I took plenty of stick at the time, and did say I would not be back on a regular basis until the value has halved. That milestone has clearly been smashed, and anyone who listened to a few of the rosy eyed company rewarded posters on here have seen the true value of their investment literally slaughtered.

I don't even believe 7p is fair value currently and would also share more of the 5p opinion.

This company is being ground down by huge board salaries while obtaining pathetic shareholder returns.

Its certainly a Kurdish blend, you see if they eve thought about excluding our heavy crude because its too heavy they would have to shutdown nearly all the kurdish refiners and a good majority of the Iraqi ones as well. Pls let me explain.

The local refiners and some of the bigger ones cannot crack the HFO tail ends of the process, they just do a simple "flash over in a normal or vacuum still and cream off the easy napthas, lpg, and gasoil. Expect they flare the gas. They then put the now heavier residues back into the crude feed line and sell it as "kurdish blend".

Iran does this all the time and we can easily see it on our lab analysis, and indeed the purchase price is adjusted accordingly to the results. This does not make it much less valuable, as complex refiners can crack this HFO with equipment like a flexi coker to gasoil. However this kit cost billions.

But you can rule out those investors who are harping on that our crude is to heavy.. Its garbage due to above reasons. Because Kurdistan is not going to change its operation anytime soon.

Nearly all the recently constructed refinery's like reliance in India for example have been built with an eye to processing very heavy crude oils into gasoil (diesel) . This is apposed to some UK refiners like Fawley the biggest in the UK which was constructed to process Brent type crudes into mogas (petrol). It just cant hadle high sulphur and con-carbon loads.

Each cannot run the others feedstock at high rates, and makes them uneconomic to do so.

Its why we see, heavy crudes sometimes commanding higher prices than lighter ones.

The more modern the refinery, the heavier the crude its built to process.

Looking ahead, with phase out of more mogas running cars to EV's, gasoil (diesel) plants will be more in demand as power yields more suitable to trucks and heavy machinery.

This is why our heavy crude could easily be more valuable in the future than lighter crudes. Also Eastern and less developed countries are more likely to continue to require diesel for much longer than Western ones.

Its well known that Turkey has the means and know how to purify Iraqi gas streams and either export to Turkey or use it foe essential electricity generation.

However no country in its right mind would invest in a country that has demonstrated that it cannot adhere to contracts and pay on time.

Another reason to get that crude flowing again.

Hi Coc-eye,

Thankyou for calling my posts nonsense while you actually produce o evidence to the contary. Suggest you look in the mirror before abusing fellow posters whom you dont agree with.

Classic example was shell pulling out from huge Iraqi contract, details and links of which I submitted. It caused the Iraqi board to have a big meeting in scrabbling to try and find another suitor. Clearly your post is incorrect sir.

As another slight aside and clear example of Iraqis shooting themselves in the foot, they have managed to seriously pollute the rivers which were previously used for drinking...One of the main causes....hospital waste from a hospital built to cure sick...lol couldn't make it up.

https://www.kurdistan24.net/en/story/34079-Rampant-water-pollution-threatens-Iraq%27s-shrinking-rivers

Baghdad needs the crude to flow, they need to achieve 7M bopd export. Losses from lack of crude export almost 12B $ since pipeline stopped.

Been no winners here, and Iraq is most certainly not happy about Iranian missiles hitting and killing its population just to settle scores under total pretence of being Israeli spy stronghold.

See a few trying to spook investors here, don't get drawn, into OPEC quota struggles because its all smoke and mirrors, and its certainly not true that they are with holding Kurdish crude due to quotas.