Member Info for belgrano

How unlike you Madaboutmedtech to again abuse the poster Odysseseus when he puts a very true personal viewpoint. Points a negative opinion about your character that is best binned sir.

Please lets keep discussion company based.

Nice find space tomato,

Iraq seeks a fair and equitable source of water , the same that Turkey seeks in crude oil. Article also links the two issues as well pointing out that we have been correct in our assumptions and can clearly see the solution to the export issue.

I really believe that if it was just the Kurdish IOC's and Iraq, they might have withstood the crippling financial losses in order to put down the Kurdistan people.

However having Turkey so financially inter twined in Kurdistan puts a whole new perspective on the issue. One that Iraq cannot easily bypass, ignore or basically try to hide behind legality issues to resolve.

They will give in for sure now its effectively 2 against 1, but will outwardly give a "all brothers working together" approach and try for any last minute gains or concessions from the other two parties.

We are going to see the crude flowing and contracts ratified fairly soon.

The shareholders here deserve the large gains that will then arise it for their perseverance and foresight. Actually a good time to buy.

This is actually good news for all parties concerned and well worth another read. Pretty well factually correct.

Some points I take from it.

Iraq now knows what it needs to do to resolve issue, tweak some articles in its own law.

It also now knows how much the Kurdistan gov gets from the IOC contracts, would be an advantage for Iraq to get the Kurdish oil exports up to max, then deduct that income from the amount it sends Kurdistan. They will like that.

It says the amount the IOCs get is higher than Iraq but fail to mention the additional risk, higher difficulty of extraction, and lack of infrastructure when projects started. So although it says payments are high they are not unfair.

Also the biggest advantage for the IOC's, comments that Turkey stands to gain a lot due to its investment in the region in companies , pipelines etc. Again this is probably correct, but is again not unfair.

Turkey also knows this, and if Iraq wants a regular water supply in the future it better fast track those legislation tweaks because if they don't its going to be a dry summer indeed in Baghdad. Turkey wont aid them water wise which is a cost to Turkey in loss of hydro power unless they expedite exports PDQ.

At last we have full transparency and a route to export market. Don't know if they can "guarantee payments under contractual terms as a sign of good faith", so crude exports can start much sooner , then make the required legislative rule tweaks in order to rubber stamp those payments to the IOCs.

yes my only concern is the iranian influence on the baghdad ministers and those in power. are they looking after the interests of the peoples of iraq as a who or the interests of iran.

their actions point at the latter to date, however they were elected, but it seems the old sunni / ****e hostilities still prevail while trying to keep the public pretence of working together and representing all iraqis.

Yep remember Mickey Admin, bar bar black sheep, and that most famous of all cry........"Black smoke".

Hello Toyin,

Yep have a merry Christmas yourself. I believe in when you invest thousands of pounds its very important to have clear transparency of the now primary income stream. Anyone not completing this due diligence has only themselves to blame if they did not push harder to uncover the facts and not allowing themselves to be side tracked by over glossing of the facts or be silenced by other investors not wanting you to probe too deeply.

I've fallen for the same thing myself once believing that axis pre-subscription interest numbers were going through the roof when told by our CEO that they "were going up at an alarming rate". Later to be told in more private correspondents that numbers had already surpassed 50K. History proved that these were false claims. However must not dwell on the past but look forward to the future, but I am totally right to ask hard uncomfortable questions like exactly how much is our royalty per sale, and how many product lines does Croda envisage putting our product into.

Also the beauty parade, what was Sedermas customers responses, and how many have expressed very serious interest.

Our product is well copyright protected so why any secrecy.. Also have good factual answers to these questions will enable investors to draw more exact timelines on income stream, because the huge issue with axis was the terrible sales numbers..at least with Croda we know current turnover as it already commands a huge market share.

Its not negative to discuss these things, indeed given accurate transparency for everyone and for free I believe will really increase interest and share price. These details will promote SBTX

When I look back over many years of investing its stocks where I failed to fully probe all angles that let me down, and ones that passed the bar with due diligence that performed best.

When knowledgably the most informed investors seem to dislike probing questions it can raise red flags into hidden skeletons. However understand that investors don't like regurgitated points if they repeat themselves but a company stands on its performance and timeline to market and profitability. Top marks for Stuart for performance in getting Axis to launch and market, is a clear positive example.

So if anyone actually knows how much per sale we will be getting and how many lines our product is likely to be included in I'll be very interested indeed. Understand things are taking much longer than initially envisaged, as I know with big companies just how long it takes to schedule in an extra reactor test run, having actually run them myself.

Hi AquaeS and Cliostock,

Thanks for your honest replies, I find when fellow investors try to play the player and not the ball they have lost the discussion. I most certainly am keeping close tabs on what's happening with this stock, although I don't see what's behind a paywall any more.

One thing that surprised me is that Croda has not made a move for the overall company knowing and having checked out their previous acquisition history and size of their war chest.

when I ponder that while asking myself the question why not if what we are hearing in bits and bobs is correct the formulation does have unique qualities in skin rejuvenation and suppleness, compared to other additives like matrixyl.

while not querying these facts because we have seen the data, I come to the view that it might be pricepoint, and what Croda is due to pay us for the royalties. This is when these terms were agreed our company was really pushing the main launch of our primary product and Croda was said to be a "free carry".

I've yet to see what our returns per sale will be with Croda, yep I know their quantities are huge and products expensive but if we are not getting much per kilo of raw product a sprinkle might be worth fractions of a penny, rendering us as a company not worth taking over. This revenue stream has yet to start, and I have concerns that even when it does we might be far from happy due to the above facts. Certainly hope these fears are unfounded.

Very encouraging start, I do believe we are near the end game. We know that big investors here do have contacts within Kurdistan and probably Iraq where any information can be sold to the right people.

Normally a reason. Anyone out, not that expensive to get back in.

I actually don't think we will see contracts altered in any significant way. Certainly the short-sighted Iraqi Politian's would like it as it further lines their pockets. Got to be remembered the last round of profit shared contracts was deemed a failure by the lack of uptake.

Far more likely is a tweak of the Iraqi constitution rules to enable current Kurdistan contracts to be recognised. They just cannot afford to continue like this as loosing critical income in a major way due to their own stupidity.

They wont want to do it, but they will have to as they now find themselves aligned against the IOC's, Kurdish authorities and Turkey, all of which they need to satisfy and work with.

If we look backwards in seems that the recent large pump and dump was to generate revenue in a large rights issue in order to keep the lights on.

Previous promises on an acquisition that many believed was in the bag have not come to pass.

Its well worth going back 4/5 years and listening to some podcasts from Stuart. Then compare them to performance and timelines.

Now we have further share dilution in the offing 634K and another 190K that the directors can allot if needed.

All for a 100K turnover , whilst having a 35K stock right down.

I used to love this stock but the performance has been dire, and if we remove the emotion and say you didn't hold any stock would you really invest here going on this performance.

If the answer is no you should escape while you can because there are some horrible warning signs glaring at investors here right now. Also some really nice people invested here whom I wouldn't like to see cleaned out. Really think its time to take a cold eyes review here, and if anyone loves what they are seeing I'd be surprised.

DNO have now managed to increase to 90K BOPD. Cant see them giving into financial blackmail to sign new contracts with poor returns either. Their crude is lighter than ours so likely to be more in demand.

https://www.rudaw.net/english/business/19122023

Think we have to digest the article carefully and include the normal pinch of salt, because it talks about the way forward but also as Putup kindly points out some history as well.

However for me looking at the way forward there are most certainly positives. We have the prime minister saying the current law could be tweaked to enable full payment under contractual terms, which would make everything legal and above board.

No mention about payments being excessive now they have finally understood the differences in the risk/reward game of contracts in virgin ground and known oilfields.

Yes some older material on how they would like the Kurdish IOC's to fall in line with current Iraqi policy and terms, but only a fool would do that ad extract crude for peanuts , and they know the IOC's act and operate as per existing contractual terms and will not budge.

It also points out that Iraq has to move as they are loosing millions every single day already by my own slide rule approaching 10B$ and counting. While the IOCs are easily keeping their heads above water by supplying local market and export trucking operations. Let aloe the extra 1M a day fee for unused pipeline penalties.

Iraq has only itself to blame for this mess as it started court proceedings and is now paying in lost revenue several times the amount of the award, and they didn't have the foresight to tweak existing laws in advance so as the Kurdish oilers could be legally rewarded under contractual terms.

Indeed if we believe some articles they didn't really even know what the Kurdish contracts paid the IOC's, despite supposed to be in charge of all Iraqi crude. So spouted "illegal contracts" for years, but when they eventually found out what the IOC's actually get it is pretty decent, and Kurdistan/Iraq does get a fair share.

"They reap what they sow", and Baghdad sowed poisonous weeds.

Nice to see that the Baghdad oil ministers after drawing an extortionate salary for many years have finally learnt how much the IOC's operating in Kurdish territories which is part of Iraq are actually being paid for every barrel of crude they produce..

Are they really for real......... You could not make up this level of incompetence, it just cannot be true.... can it??

It states that the agreement comes out at $21 dollars a barrel, for doing everything from roads, infrastructure, all exploring in a virgin plot, where as in Iraq, you had known quantities , easy to extract oil, with a lot a basic infrastructure like pads and roads already constructed.. there they get rewarded $8 per barrel.

Well actually considering all the risk/reward factors I believe those figures are pretty fair, if not even a bit one sided towards the Baghdad fields, where some local export pipelines exist.

Only a fool would disagree.

Certainly quite a few chunky trades going through, not normal PI ones. New positions being taken for sure.

Someone has some privy info.

Those shorters will be feeling the pressure this morning. Squeaky bum time.. Lot of shorts still open, with plenty to lose.

While the genuine investors here have plenty to gain.

Clearly Mr. market likes it. Are the Iraqis buying stock knowing a pipeline deal is in the offing.???? Would never discount that kind of dealing from those with the ability to give the green light.

Good point Bugsy, having these face to face meetings items like export rates (for local consumption of course), and most importantly the rates for those exports can be discussed. They have all worked together for years and no one is fooled by the antics of Baghdad. I'm actually also thinking of topping up as well because the current antics have come at no surprise to the toughened investors on this forum. Indeed its why we are here and not £5.50 a pop. How much we can make in the interim is very important right now.

Good to see meetings actually taking place, however its clearly not a case of contractual rights but moves against the finances of Kurdistan and deliberate moves to stop their income by Baghdad hardliners that are clearly holding sway here.

It does appear that Kurdistan and Turkey have agreement and its Iraq that's doing the holding out even though it makes no financial sense for them to do so, they don't seem to care.

Offering the IOC's terrible terms that they know cannot be acceptable in any way or form is just part of the games they are playing.

Think we have to see who's loosing the most here for the most likely outcome. The IOC's, have beaten attempts at financial blackmail, probably with the help of the Kurdistan government.

Iraq has lost 8$Billion in lost crude revenue and counting and is also paying 1$M a day in unused pipeline fees to Turkey. It 's also desperate for regular water flows from Turkey for its farmers which is being restrained in Turkish dams currently.

Not surprised to see them try the tactic of ignoring the IOC's, or even making up that they have agreement of a kurdish operating company we don't know of. Just a last gasp attempt to put pressure on and perhaps worry the IOC's or their shareholders. Now we see the Iraqi puppet masters who have been pulling the strings for years, living in embezzled riches while the population goes hungry and unpaid. All the time being two faced spouting that they are working with Kurdistan while deliberately hiding behind the "illegal contracts" in order to cause delay and smokescreen.

They are loosing here and they know it as the losses rise daily.

"Removing legal obstacles to the Oil Ministry's transactions with companies investing in the Kurdistan region".

Seems like a another Iraqi trouble making politician had his complaints rejected.

Its clear where the obstacles lie, little wonder XOM have pulled out completely from Iraq.

They say they are working towards a solution, they are lying. Not long ago they were trying to blame Turkey for the delays when all along it has been Iraq.

https://www.kurdistan24.net/en/story/32535-%E2%80%98The-ball-is-in-Turkey%E2%80%99s-court%E2%80%99,-says-Iraqi-oil-official-on-resumption-of-Kurdish-oil-export

However now the unused pipeline is costing 1M a day plus a Billion $ a month. Already 8 Billion dollars lost, plus costs and they have held many meetings and achieved nothing concrete bar "working together and God willing".

Well the waters not flowing from Turkey either now the "sign of good faith that they asked for has clearly been false hope for Turkey.

Now they offer the IOC's much less per barrel than they are paying for easy crude extraction in known oilfields in Iraq south. Then talk rubbish about illegal contracts in Kurdistan.. Clearly target is aimed to destroy the kurdish economy, and they are supposed to represent all Iraqis, and are trying to build world trust...

Believe they are now the worlds laughing stock and no country really trusts them despite what they say when sat together at the almost daily biscuit munching meetings.

They will yield because the costs are becoming intolerable for Iraq, just we really see that they don't want to, so certainly cannot be trusted at all.