Member Info for belgrano

Its staggering to believe that the idiots that run Erbil and Baghdad, have lost multiples of what would cost them to settle, while allowing large amounts of its population to become unemployed through their own inability to settle the oil export dispute.

Most of them have not earnt their positions, but been given it through bribery and family connections. They are not loosing money and still the first to be paid handsomely.

Stunning amount and percentage of the population "work for the government", so clearly do created useless jobs and which I expect is being paid for minimal contribution.

When it comes to bickering, extortion, barefaced bribery, breaking of agreements, and failing to pay dues and money owed these ministers are outstanding in performances.

Do they really wonder why what could be one of the richest nations on earth per capita is one of the poorest.

I expect many are making quite a few bob right now trucking our crude to Turkey. No one has said its not happening, just that the pipeline isn't open.

Got to bear in mind, it was reported a long time ago that Kurdistan would underwrite the complaints from Iraq to Turkey if it went pear shaped in the courts. It was one of the pre-conditions of allowing the crude to flow, and players like the Brazani made billions from it.

Chickens have come home to roost now. Little wonder that Kurdistan agreed so quickly with Baghdad about agreement on oil flows...they have been playing both sides, and also holding out on oil companies and getting paid for crude in advance....pocketing the proceeds. Everyone believed Turkey was the sticking point... now the cats out of the bag about previous promises made.

Both sides and the producers lose out every day of pipeline closure.

Makes sense that as soon as agreement made the pipeline will be opened.

That's a 20 minute task.

Co-ordinating a timely start up might take a day or two, however those plans should have already been completed and agreed in anticipation. Lets face it...the pipeline operators have had much more to do over the last few months.

When agreed it will be fast.

So now we have the Oil minister from Iraq travelling to Turkey to discuss ways to resolve the crude export problem and Erdogans trusted foreign minister renowned as a problem solver coming to Erbil and Baghdad also to try and resolve the same issue.

This isn't the biscuit munchers but those with real clout to get the issue resolved. Turkey has already demonstrated co-operation by opening the sluice gates with another 500mtrs per sec flow.

However remember the article stating it was "for a month". ...that might be extended.

so without actually saying so its a case of "we are sharing our resources, your turn".

Probably the best opportunity we've had for a long term settlement.

Clearly crude oil imports are high on the discussion list. We have already seen concessions given by Turkey and that is the release of much higher water flows from the dams to aid Iraqis. That will please those in Baghdad . Cannot be unnoticed the large amount of trucking that is starting from al of the stranded crude producers which has probably moved Turkey from its previous hardliner position.

Fines can be worked off, and I expect the water flows will be in exchange for stopping of further legal action against Turkey.

I'm sure some kind of "muslim brotherhood " crude discount will be arranged with Bagdad so we will then be pretty much set to go with the fanfare of fellow backslapping, biscuit munching with the obligatory and eyewatering "arrangers fees", and "introduction and finders fees" being delivered for doing almost nothing.

Hi Straycat, you write.

"The point is that this site is now being manipulated by paid posters. Probably without any investment in the future of GKP ".

It is suspicious why some are doing that. However if we look back in the history of this company, right to the TK days, it was clear that there were boiler room scams in operation then. I don't know whether we have the same scammers back again but clearly the motives are the same and its all about money, trying to run down stock by either persuading other investors not to buy or even better to sell up. I actually welcome negative views about this stock , as its a really corrupt location that we operate in. However I prefer factual points and not lies and clear manipulation.

The old saying of "oil will find its way to market", has never been truer.

We don't know if GKP are actually increasing the amount of crude oil being trucked away, however we do know that DNO are seeing increasing crude sales with instant payment so pretty sure GKP will be seeing similar.

Well the Iraqi people really know how to turn a profit, where fuel and labour costs are some of the cheapest in the world.

Can bet your btm dollar that many entrepreneurial drivers and tanker owners will be trucking long distances in order to make a decent up grade on crude sales, delivering to whoever is prepared to buy it.

More tankers moving, more local diesel required, so local refiners will also be upping local production as well, so even more tankers shifting crude oil.

Word soon gets around, and wont be long before its not just local drivers, but truckers from every local country like Jordan and Turkey turning up waving the credit card and wanting our crude.

Run the calcs...well worth the trip even with a few "gratuities", to grease the border guards for "fast track", pass through service.

Turkey best settle quick, or might find its better by private trucking..

Why send by pipeline if not being paid, swipe the plastic as the tanker fills is miles better for us, and the tanker operators and bosses.

Its proving co-operation between the two adjoined countries works, especially when one has an abundance of water while the other is struggling. 500m3 per sec is a real decent flow. Also demonstrates trust between the two countries moving forward, and quite honestly they have been at odds for a while.

Oil could easily be viewed the same way.

I sense the logjam could be breaking, and it seems the water is already flowing swiftly, Oil will be next.

I remember seeing the supposedly normal trucking costs to Turkey.. Where labour costs and fuel in some of the cheapest in the world remember thinking it would be a few hundred pounds... We were trucking \a decent amount of crude, but being charged an extortionate amount for the privilege.. Barzani family again behind the scam, and with this companies blessing.

By selling oil to the local market three things will happen.

1. company will limp along but wont go bust...huge biggie to every investor here.

2. selling elsewhere normally sees demand increase, doesn't take long for every owner of a tanker to start shipping crude out by road, when there is good money to be made.

3. Puts pressure on Turkey to agree terms.. They shut the valves., they are the ones to open them again. Just might not have them in a barrel as they first hoped... Might backfire on Turkey if it fails to compromise.

Big point for me..."The KRG Prime Minister Masrour Barzani has assured GKP and other IOCs operating in Kurdistan that production sharing contracts will be honoured and outstanding receivables will be repaid".

We are owed $141M so not small beer.

When you view the current share price, see what we are owed, and have a small income stream current share price is very attractive indeed.

I'm actually surprised we hadn't heard any whispers of production.

Clearly the oil is starting to find its way to market. ....Turkey should take notice, as they might play hard ball too much and loose out completely. also wording from Kurdistan that they are fully co-operating with Badgdad, and SOMO.

Maybe guys, however I believe you are incorrect in this. This is due to the fact that Iraq has been failing to meet its agreed OPEC quota for quite a long time, so has in essence, quite a bit in the bag, and allowances for when it can. Other countries have been producing more. The planned reduction is a voluntary one and often timed later in Autumn when plant maint and turnarounds are planned in regardless. By announcing in advance it pushes crude prices up ahead of any reductions, so its a win/ win for those that do it, because they are still exporting and producing their quotas right now.

Saudi telling everyone that they intend to continue cutting the amount of crude being produced by 1m bops from Sept is certainly forcing the general crude price higher. Russia has already jumped on the bandwagon by saying it’s going to join them in also cutting production by 300bopd. This is going to make all energy more expensive come autumn and winter and will hurt all of us. Even gas prices tend to reflect high crude prices, so don’t be surprised to see energy prices rising again as soon as the nights get cold. Indeed crude prices might well go a lot higher as Saudi is really struggling to balance the books with ambitious spending projects and high debts. This will actually increase the chances of a kurdy export deal as the larger pot size will still fill all the pockets of the greedy and who knows…. Might even be a few scraps left for the oil companies that are producing it.

Not hard not to have any injuries when everything is shut down and they are sat around drinking tea all day long.

Clearly they haven't anything concrete to go on just hope.

RNS-SOH offloaded 3% of his shares. You were right guys.

Good to see this forum so sceptical and clearly "eyes wide open", with this stock. Some decent rewards could be in the offing but still some big hurdles to jump.

Crackers really ..just the politics and barefaced bribery holding up decent investor returns, oil wise we are doing fine which is normally the biggest stumbling block.

I also fully agree that our company management have got noses embedded in the trough as well and no word about their salary and perks cutbacks like they are imposing on the workforce.

Clear which way the Kurds view things, they are stuck between a rock and a hard place.

Erodgen visit is the key to unlocking the crude.. He wants to discuss other items as well but you gan bet your btm dollar that his flunkeys have already worked out a deal and the big man will be praised as the deal maker (forgetting it was him that ordered crude shut off).

Praises and biscuits all around and a huge photo opportunity.

With the president flying in next week to discuss and help resolve these issues in my humble opinion its not a time to offload or take profits as agreements will quickly lead to exports starting which will lead to payments with agreements. This could quite easily attain some serious value within the next 4 months.

We can certainly see the scale of the issue with the admittance that the Kurdy crude was being sold $10-20 a barrel under market rate, and that it was being sold to Israel and then some passed on again for more profit.

Really scandalous, and Turkey did it for years so it doesn't want to give to surrender this gravy train easily. They were even undercutting Iraqi crude in doing so.

So Turkey must also be getting some serious pain over this...only way out of this impasse is the pipeline to the gulf.

Its just 2 new posters popping in and recommending we sell up Itsaponzi, ...Lol many thanks for your recommendation guys.