Member Info for highlander1970

or maybe they forsee problems in the future with payments hence getting rid of the debt.
They should have done that long ago instead of the stupid buybacks.
Now they need to build a cash reserve

Looks like stakes are being built in Providence
Something must afoot

http://www.investegate.co.uk/article.aspx?id=202206231707340299Q&fe=1

Pressure seems to be being applied in the right places now.
Good to see some of the big hitters taking stakes and keeping the pressure up.
Let's see if it gets these political idiots to think logically for a change.
Ryan needs to be sued for his position on this.

"The groundwork for all that has come before now was laid by JF"

Poppy****!
Utter drivel!
The groundwork was completed by JG

JF did nothing and achieved nothing apart from lining his pockets at shareholders expense

Government stepped in and gave the go ahead for UKOG
Looks like the penny is dropping, let's see if it gets read across to Irish powers that be

They were producing at the time, just not getting paid. They blamed ISIS for it.
Things are not very different now.
If the KRG decide to stop paying for whatever reason then there is no income.
This would very quickly drain the coffers and if loaded up with debt at around 10% ticket (I doubt any company in Kurdistan would be able to finance much cheaper) then the whole scenario of a default raises it's head extremely quickly once again.
If they can fund the expansion (assuming the BoD ever manage to get the fabled (and much reduced) FDP signed off) using pure cash flow then that protects shareholders interests and adds value to the company.
Some might say it's their fiduciary duty to protect shareholders interests but this board don't subscribe to that theory as is borne out by their actions/inaction.

"they should source whatever debt they can"

That is what caused the previous wipeout of shareholders. Idiotic people in the boardroom overstretching the company.
They should use the capital they have instead of frittering it away on dividends and stupid buybacks and, of course, ill gotten rewards for themselves.
Pay down the current debt (as I have said for years) and create a stockpile to cover capex costs. Reduce OPEX by thinning out the board and ghost workers in the workforce.
You cannot rely on the Kurds paying their bills, sods law is that as soon as debt is incurred, they stop paying their bills. GKP is in the position to avoid debt completely but the BoD are too stupid to put that in place effectively (or do anything effectively)
Use your votes wisely.

That is a significant amount of after hours churn.
Something we haven't been told??
Let's see what tomorrow brings

Keep an eye on what happens with the rockhopper court case. It could have big consequences for barryroe.

and the guff keeps spilling out as the inept BoD continue to stuff their pocket with their undeserved rewards.
Fire them all and get real directors in place.
Thieves one and all.

Third party audit is required

That 3m sell was a bit of a ripoff for the seller, well below the bid

Not angry but I don't forget easily the greed and sellout tactics used to enrich themselves.
They lied to activate the vcp as the figures they set themselves to achieve failed miserably in the first year.
I see no reason to reward out and out failure to achieve very very low targets.
These onshore wells are the most expensive wells you will see ( even more expensive than some of the extended reach horizontals I have seen), who exactly are they bunging all this money at?
An expense audit wouldn't go amiss with these lot.

My finances are fine but thanks for your concern.

I call a spade a spade and I expect to see performance for reward, not reward for incompetence.

" they have already made a great deal of money from the risk they took joining GKP."

What risk did those thieves take by joining gkp?

When they joined, the sp was many multiples of where it is now (46p versus today's 2.5p) and they systematically destroyed the share price whilst handing out billions of shareholder value and enriching themselves for it.
Every cost estimate for reaching the ever fabled 55k (which has miraculously been lowered to 50k) has increased with every review and still no nearer.
And as for the incumbent infestation, these people need to be replaced as they are incompetent liars.

they bought more in the open offer that was given to shareholders at the time of dilution. They were priced at the same price as the dilution shares and you would have had a notification saying that you could participate in the offer as a shareholder.

you got diluted into oblivion (95 plus%) then the crooks in the boardroom consolidated the 22plus Billion shares that they had issued at 100 to 1
Then they patted themselves on the back for "saving" the company and awarded themselves millions for doing it.
It still goes on today.

I would be more in favour of them getting performance related options with a hard and fast strike price based on set in stone measurable metrics. Meet the given standard based on performance or get nothing, nada, zip, p45.
Right now, they deserve nothing as they have not achieved their own stated goals.
They have kicked the goals into the long grass whilst revising the goals downwards at the same time as putting the cost of these goals up AGAIN.
Who are they paying?
This seems to be the largest cost for oilfield operations that I have seen in a long time, and it's onshore which should be cheaper.
An in-depth independent audit wouldn't go amiss with these liars.
The options that they have undeservedly given themselves are nothing but robbery.

More free money for achieving absolutely ZERO targets and fiddling the figures to give themselves hundreds of thousands of OUR money.
Shameless lying miscreants.

You need help

I see no reason for this not to be sitting at around the £50m mark prior to drilling.
£4m is just plain silly.

So... with 2C of 69M barrels net to LOGP in safe and shallow water with infrastructure on the same lease and brent at over $100, what is the value of LOGP perceived to be? £4m????
Really?
With the ongoing war and doubt over supply, the politicians of this world really need to get their fingers out and apply logic to the needs of the countries they are tasked to lead otherwise they will find themselves wanting at the next ballot box.
The people will speak, of THAT there is NO DOUBT.