Member Info for belgrano

I think that when the crude flows again, and sounds like they are trying to resolve the issues quickly it will cause a bit of a dilemma with investors/traders.. Do they sell or top slice as price rises or continue to hold for attractive dividends. Its a nice problem to ponder.

Excellent find Armasmaxilian,
From your post.

Shafaq News / The government of the Kurdistan Region has dispatched a senior official to Turkey to explore mechanisms for resuming the region's oil exports, according to a well-informed source who spoke to Shafaq News Agency.

Safeen Dizayee, the head of foreign relations in the Kurdistan Regional Government, recently visited Turkey, where he held numerous meetings with Turkish officials to discuss ways of restoring the region's oil exports to foreign markets.

The source emphasized that the meetings were constructive and fruitful, and that they serve the interests of all parties involved.

From the above shows meetings have already taken place and the KRG are working to resolve the issues...miles better than just not talking. Seems we are already on the road to getting the oil flowing again.

yep agree accountant. I've just increased my position.

I believe one of the key drivers is actually what has been happening to our crude produced before the stoppage. Some may know others may not, but is does join the dots.
Crude sold at large discount by Turkey, one of the biggest customers was Israel..( alarm bells going already).They processed as chunk of it at their refineries , however a lot was mixed and then sold on again for enhanced profits. ...more opportunity for kickbacks here.

Out of the money the discounted crude sold for the KRG then told all the dues they could think off before belatedly giving the oil companies their dues.

Now if oil sold at " best market price", it probably wont be to Israel, then they wont profit by selling on Arab oil, and brown envelope payments cant take place.
We will be much better off under SOMO than the KRG, so will the Iraqi people.

Hi Itsaponzi,
What do you base your prediction of the pipeline closed for months on. you may be correct, however evidence points at a shorter duration.

Hi rogthegamer,
If you hope to trade our stock best of luck to you mate, I'm actually not very good at it, so tend to end up with a mix.
If we take a cold eyes look at this right now, its clear than some parties do have the whip hand over the other so I do expect things to shift before long. Its just too costly for everyone to not blink for much longer.
Our company can actually be a "cash generating machine", especially wit the projected and forecast increases in crude exports.... GKP could easily last a year, by pulling everything back to min, so I would disregard the "going bust" comments.
Also the assets and licence is worth a great deal.
All the kurdistan oilers are in the same boat here, and their collective influence does carry serious clout.
Its certainly a great opportunity for an investment here right now. I'll be really surprised if no progress seen in the next month, indeed it might be a lot sooner than that. Also Just because weekend is coming don't write it off, as Iraqis still do business at weekends.
Expect it will all be over soon, with more backslapping and self congratulations, like we saw a few weeks ago.

I'm actually a little surprised at the scale of the price drop today. Because most of what was announced was well known and already priced in. However the only bit we did not know was the pre-shutdown crude oil flow rates which in my book were very good indeed.
News that the company is using due diligence due to the shutdown of crude, and failure to pay dues is also no surprise. The oil exported has been sold, where is the money due to the producers of that oil.
At every turn we see signs of a small regional power (KRG), breaking agreements and rules to enrich those in charge.
If you took an Iraqi or Kurdistan overview, they should be living similar life style to some of the richest Arab countries, yet most citizens struggle to provide for their families in the dirt.
Clearly its corruption and inter tribal hostility ( and I mean passive hostile), thats the main cause of this lack of living standards, and to fail to swiftly agree and restart crude production is a clear example in hand.
Talk about needing to bang heads together. Almost couldn't make it up.

what would the company do with such sums if the deals went through.. debts, special divi, or a war chest for acquisitions.

https://www.thisismoney.co.uk/money/markets/article-12016313/Barclays-sees-profits-balloon-2-6bn-credit-card-use-rises.html

Operation expenses actually a tad lower than previously, during a period of double digit inflation. Guess that's a reflection of branch closures. Those results are indeed cracking from a financial perspective.
Many had reported certain sluggishness in raising interest rates to match as opposed to mortgage increases.
Couldn't see anything concrete about the share buyback scheme figures, unless I missed it. Know many on here would prefer dividend increases instead.

just discussion production, 53700 bopd, prior to shut in is excellent performance with further increases planned. no reason that when the exports resume within a week or so this rate could be achieved and maintained again.
The size of the income lost is just too large to bear for the KRG and SOMO, which does make me believe it wont be overly long before the valves are opened again.
Indeed the lost production due to the squabbling with cost more than any fines within a short period, but I agree both sides are clearly looking at the longer plan.
So much for all the back slapping with agreements between the two parties, seems it was very premature with the few "technical details", clearly being larger hurdles than envisaged. I'd wager that these are the "finders fees,/ consultation payments, or arrangement rewards, which have been "oiling the way" for years, which others see as blatant bribes for nothing more than rubber stamping which are in danger of disappearing if SOMO control the chequebook.

Hi Toyin,
OK you win, I don't like nastiness, and I'll refrain from posts on this company on this forum till either we hit 10p or 35p.

But in going I'll tell you truthfully that if really called to account over the potentially libellous accusations I would win, because all my private phone calls are actually recorded.
However I'm not revealing names so would prefer just to call it a day... Even those who told me how you were being rewarded by the company. Actually believe you know as well and trying every angle at reputation protection to protect your investment. All is fair in love and war, and money brings out the worst in people.

I actually want our company and its long suffering investors to do well, so have come to the the conclusion that the truth may be just too unpalatable and probably best buried currently as the company stagnation continues.
I actually agree with your posts on the ADVFN forum, that unless something happens within 6 months you are out. You should copy them here as it gives a different side.
Hope you converse again at 35p, and I'll gladly congratulate you on your sound investment, and accept I was wrong to exit at 21p.
Best of luck with your decisions, and good fortune.
Bel.

Hi Toyin,
Thats not what I said, you have changed it from expressing an interest with no obligation to buy as AS correctly points out, to expects sales of 1.5M on the first month which I never said. You then insult me again, after making stuff up. Why don't you leave board Toyin, your rude bullying style will not be missed, and return to ADVFN from where you used to post.
Very best regards to you sir.
Bel

Hi AquaeS,

Many thanks for your excellent post. Yes I fully agree it was registration of interest, not any obligation to purchase. I also agree with you that it is a possibility that somehow it might be manipulated to create thousands of extra e mails, with addresses. However thats a real remote possibility, indeed one poster who I respect even told me the number in a phone call and it was higher than 49,999. I actually knew of 5 people who signed up, and all 5 actually initially purchased.
Going by this tiny straw poll and actually believing the figure I was told, its easy to see how an investor might believe that the launch is on to a winner.
So can I ask what investors actually believe, did manipulation take place , because I for one never heard any whispers of it at all on any forums, and no one mentioned it at all.
Those records probably still exist , and were they tens of thousands or just several hundred.
I've asked this question a few times and no answer returned. In my book and life experience that probably means they don't want the answer to come out. ~Its certainly not price sensitive now. Believe just after this time we heard first talk of a "soft launch", what caused that to happen....realisation that a serious error had been made in that we had thousands and thousands of false names, e mails and addresses (easily confirmed). Or a certain someone was pulled in by the team and told to drop it and its going to be a soft launch. Now I mean to offense to anyone, and I along with everyone else here lost serious money on the failed launch, but something is not right, and its got a whiff about it so all I'm doing is trying to get to the truth of the matter.. Then it WILL be put to bed.
If anyone can spread any light on it, it would be appreciated.

Not causing trouble, certainly provoking honest debate, its idiotic investors that cannot take off the rose tinted glasses and try to shout down those that are pointing out the numerous errors being made here that are actually causing the problems. Was only a couple of years ago I was very pro company and indeed held a seven fig position here that an inverse post by me was ticked up by many.
However I've learnt the hard way by investing over 30 odd years that when things repeatedly keep going wrong, and reasons given with time consequently are proved to be short of the mark its time to get out of the water. I did at a point 30% higher than right now, and also told this forum I was doing it, indeed I did the same when I bought as well so no hypocrite....Some might call it a savvy move.
Yes I am sitting with a decent lump of investable income, and if I saw information that led me to believe that any big top ups are likely to generate decent solid returns in the next year I would take advantage today. That's what investing is.
Can anyone point to solid numerical figures, subscription numbers, or even the smallest bit of Croda licenced product actually returning revenue I'll be very pleased.
Currently the only bit of solid data I have to go on is current axis sales, and even if I apply an annual 40% growth on that figure, it would be several years away before profitability achieved, and by then further fundraising to keep the lights on req.
This is a result of lack of company news allowing share price to drift, its not investors bad mouthing libellous statements, but honest opinions openly being discussed. Its in our boards power to change that today.

Sorry about the time delay as I'm a different time zone to the UK and its roasting hot. Did certainly say I expected the normal stick for expressing honest opinions , and those words were most certainly said at the time because I was there. However the post does express my personal opinion which is clearly not the opinion of those who others have taken offense, when none was intended. What we have seen is actually a long line of errors which can be blamed on a lack of DD.
Yes we might excuse one or two of them like the RNS accounting errors, but at the time I can recall many who stated it was extremely poor. However putting them all into context and then adding every excuse we've received every time tends to portray a very negative picture when added together. I could have easily bought a lot of stock today at 14p odd, but until I see any really positive signs that I'm going to see a return on my investments I'm unconvinced currently. Have we got more than 350 subscribers yet? I see the company is using its current mailing list in an effort to get more subscribers by offering a few free months supply now in exchange for more pictures showing improvements. This is a really good idea, however bet its because of large stock holding that's currently unsold. So could be seen as an act of desperation. Good luck to every investor here.

Hearing reports for Manchester region that the shops have queues of customers waiting to purchase products. I buy the frozen products myself and the sausage rolls are superb. Greggs control and produce the whole food chain to able to keep prices low and quality high. Can actually see this going a lot further.

Heard some great opinions and some wild guesses on this forum last few sessions but I thank everyone who has positively contributed.
For me I believe the answer is actually in what has just been published today, the most important extracted part for me being.

Awadi emphasized that the pending matters are mainly technical, adding that had the issues been between two states, it would have taken six to seven months to solve, but since it is between a regional and federal government, it will be a matter of days.
“There will be good news after Eid holidays, regarding the resumption of oil exports,” he said of the Islamic holiday which has come to an end.

So what conclusions can I draw from it that wraps up all three interested parties.
Nothing currently to do with PSC's, just a smoke screen or trying to spread miss rumour to lower price.
Article clearly points to disagreement between Erbil and Badhdad, with SOMO having the whip hand. Also pointed out by another poster today, was that Kurdistan agreed to indemnify Turkey if it resulted in adverse legislation results which has happened.
Thats why its between the two Iraqi states, now the KRG in effect has to take the fall for Turkey loosing the case and own it.
Then it all makes sense, and probably why the oil will be flowing again within a short period.
Actually good news, as was pointed out, inter country issues would take longer to resolve, and now the KRG are on the hook, but need to get the crude moving soon.,

Kindly posted by bigpunt below.
The point I am making Aquae is that the DD is that if Management come out and say they are looking at an acquisition, it should be at least 75% complete with a high likelihood of completion. Because this is clearly not the case, I am suggesting that this was a bluff by Management and I have made my case.

If what you say is true, and running with it why would they do this...Clearly to raise funds at 16p/share and very noticeable that pi take up on the offer was very poor. So it was in effect "to keep the lights on".
If we look at finances, what you say is clearly true in part. The money would have run out before long.
But to not tell the complete truth but a part one only does not inspire confidence in our team.
Bit like getting a bunch of keen investors into a Manchester pub, where they were clearly keen to hear any small snippet that might convince them to increase their stock holding having travelled or flown half across the UK to be there. Only to be collectively told that " registering for pre subscription, numbers are growing at an alarming rate". In hindsight that was clearly a lie, and I now suspect one of the reasons the meeting was arranged. It has also never been answered , although I have asked by e-mail directly. Many investors here will also vouch that those words were stated, and many including myself increased stock holding by a decent margin as a result.
So putting current and previous actions into perspective the points that bigpunt pose do have merit.

Excellent reply theoryman, many thanks for your kind post.