Member Info for belgrano

Video online shows her dancing at the open air party just a couple of hrs ago. She was a peace activist and had refused to join the Israel military. Total home goal I'm afraid and glad I didn't see the parade of her body because that's clear human rights violations and fully indictable. Very sad day for the middle East, and ruthlessly planned to try and continue violence, at a time when things were starting to look better. Limited effect for GKP, just that any Iraqi sales or crude via Turkey ending up in Israeli hands is likely to be prohibited. They were a customer previously.

Bit of unknown trading reporting happening this morning...shorts closing??

Cor..... $35 per barrel to the oil companies, would you like that sir???? Little wonder that they would increase exports to 1M bopd.

Still just potential, but very promising.

https://www.rudaw.net/english/opinion/08102023

The Iraqi government has announced an allocation of only $6 per barrel for oil producers in the Region, a figure that has been met with significant resistance from IOCs. In an interview with Rudaw TV, the spokesperson for the Association of the Petroleum Industry of Kurdistan (Apikur), challenged a $6 compensation, revealing that foreign companies in the south receive much more than that amount, around $35. The oil companies in the Kurdistan Region demand a similar compensation from the Iraqi government.

Addressing these obstacles could lead to an increased pipeline capacity, potentially reaching one million barrels per day. This would attract substantial investment, driving further growth in the oil industry in the Kurdistan Region.

And wake up to the smell of burning shorts...... any news breaks today, and its a working day in the middle East and they might get toasted without a quick or cheap exit.

Yes i did also wonder about the Iraqi governments rule that 400k BOPD be controlled by SOMO.

Well thats fair enough to secure the 12% budget share, however pondering these figs for a while and thinking about expansion plans for the Kurdy oilers its possible that 400K will very soon be exceeded. Is this then Kurdish oil share.

Yes looks like it but pretty active buying when they offload a block, bet a few shorts traders are feeling a little hot under the collar right now. they've had some good runs but may have overplayed their hand this time. suspect we will rally hard into the close.

Yep, A cold one also beckons for me shortly, we know that unlike UK business is often completed at weekends in the far East and they take midweek breaks. Very good chance that the final touches will be completed over the weekend and we will be starting up come Monday morning with just such an announcement before trading commences.

This is because we do have ullage in tankage now due to local sales so can most certainly start to get everything moving again once payment assurances received.

You are 100% correct spacetomato,

So much so that I had a dig about in a couple of ISA's this morning and found some divis that have been produced from some blue chipped stock and bought a couple of k more of this stock this morning.

I expect those that are holding our company stock as shorts must be getting pretty worried right now , and a fair bet that they will be starting to close them soon or face the expensive consequences.

With the main parties Turkey and Iraq is effect aligned on restarting flows I believe we will see something official from our company within the next few sessions.

Lot can happen over the weekend and i certainly don't want to be caught out on the wrong side of a positive RNS when I have some dry powder left and want to maximise all opportunities.

Really dont believe now is any time to sell, regardless how much it rises today.

Hi Spacetomato...great name by the way.

Fully agree ref levels of corruption, and that the shareholders here could also come out of this very well indeed. Sounds like we have similar levels of investment.

Know we will have some expenses, but being robbed blind is another thing altogether.....Like security told to take the day off while a huge line of trucks helped themselves making a mess and no regards to safety, then disappeared into the sunset.

Guess the loading terminal.....Shaiken.

Wonder how long it will take till we hear the specifics of the export agreement.

Most importantly how it will effect our company and amount of income it will generate. In my book the more tight lipped they are the more shady the small details.

It could indeed be excellent news for the exporting oilers, however knowing how these twizzling, pocket lining, corrupt officials operate we best be sceptical until all the information received.

I know every investor on here is fully "eyes and ears wide open," and not naïve at all regarding the risk reward ratios.

That said, its still on the face of it excellent progress, and could well lead to re-establishing full production ASAP, along with the well deserved shareholder rewards.

Its a crying shame that the oil companies have to take this unwanted action. Also proof to the fragrant levels of corruption that currently exist that they've completed their side of the deal..IE explored for crude , drilled , and extracted it, and the thieving diplomats trouser the last crude payments and don't pay the oil companies . They then have the cheek to come back and say " start exporting again chaps".

They are the ones who need locking up for corruption.

Doesn't have to be a massive divi, give a modest one now and post notice thats its going to be repeated all being well.

That way, faithful shareholders get rewarded now and the prospect of future divis will boost the shareprice making it a win/win and longer term hold.

Lots of traders, most of which know somebody in Iraq, Kurdistan or Turkey or mixed up with one of the oilers trying to anticipate the market .

Always a very high chance of the curved ball being tossed, which is happening right now with Turkey saying the pipeline is ready (ahhh but at what price), is little different from SOMO saying "we would like you to open the pipeline" (but expecting high prices and full control of all the crude).

Knowing this region with its blatant corruption, its good to see the oil companies sticking together. The politicians have paid themselves, in effect with money owed to the oilers so in effect stealing from them.

Bet they thought they could get away with fooling the oilers again and try to cheat them by changing contractual terms after they have taken all the risk , found and extracted the crude oil.

That would subsidise the brown envelopes further and get the crude flowing...and we'll give the oilers any last remaining scraps.

Well Oilers should be paid first, or don't expect more.

The most modern refinery's are constructed to handle very heavy crude as its normally purchased at a discount to brent.

However its very very marketable, and no one should be any doubt of that. Just look at this older article from March where new Chinese refinery's been build that can only run on heavy crude.

https://oilprice.com/Energy/Energy-General/The-Price-Of-Heavy-Crude-Oil-Is-Climbing.html

Believe what the oil companies require is actually very easy, and could be completed in minutes.

Give then a guarantee that all contracts will be fully upheld, and that they will be getting prioritised future payments with a proportion of the owed money as well.

That would suffice...and I'm sure shareholders would also like to see it.

The oil companies want to know exactly where they stand.

This is really good news that the oil producers collectively are fed up with being cheated and not being paid for the crude oil discovered and funded by in the best part shareholders.

They are sticking together and saying, that although you may have agreed cosy deals and back handers where's all the money for the crude we have produced which has clearly been trousered.

This is the perfect time to do it, as Iraq needs the crude payments and the oil companies want the correct payments promptly as per original contracts, not a bit when the Kurdish or Iraqi government finds some spare change.

Pretty sure they will win this argument as its pretty clear cut.

However then by winning it will make it very difficult for someone in the future to try and reduce or with hold due contractual payments.

Fully support our company holding out on this.

Good post CCC,

Does demonstrate what we have been saying, Turkey now willing to be more "flexible" faced with Kurdish crude being sent to alternative sources at increasing rates.

Actually I believe having SOMO in charge of crude exports is responsible for this new "potential flexibility", which can only be movement on costs /fees and backhanders.

This is because they cannot hold SOMO to ransom like they did the Kurds extracting ludicrous costs and expenses. Now they know SOMO can divert Kurdy crude entirely if they wish it puts a whole new perspective on talks.

My game plan here is actually to hold and wait for at least first dividends, when that happens the price will also be north of here so the two go hand in hand.

If we look at the risk/ reward aspect from current position the odds are pretty good, but certainly not zero.

Fully agree Swell, another area where Turkey could aid Iraq is in the region of flare gas recovery and export.

We are flaring off our gas, clearly long term not sustainable. Europe is desperate for gas and Turkey is a main consumer.

Give them a good deal and they will come. Just need to demonstrate adherence to agreements and contracts past and present to rebuild shattered confidences.

At first weeks of the holdup we saw Iraq requesting opening of the crude export line, and Turkey not opening their side.

Now it seems Turkey wants to open its side and have asked Iraq to restart crude flow.

We aso know that talks and discussions have been taking place for a while now, with minor leaked reports that progress was being made.

During this hardball time GKP found other markets, firstly trucking its crude and the latest we heard piping it away.

Has Turkey suddenly realised that it may have overplayed its hand so has relented on concessions, now faced with the fact that the longer it goes on the less likely Iraq needs the Turkish export route.

Either way its much better news for Kurdish oilers as it seems there are multiple suitors for its crude.

Normally when that happens the price increases.