Member Info for highlander1970

the company also need to complete a permian well which they have already purchased equipment for. (Assuming they still have it and the Ferret hasn't given it away as he has done with everything else)

"I haven't posted a valuation"

Exactly, but you take great relish in putting down others opinions of valuations for the company.

So do tell...

How would YOU value 13.8 Billion barrels OIP that doesn't include the permian zones?

"management should definitely request this because it is a real cost"

LOL

This incompetent management will find a way of forgiving the debt owed.
GKP will never see a penny of those owed monies let alone any interest payment, they can't even get the monthly payments in on time let alone past debt.

not to mention a 75% spread!

Consortium members are finding themselves with extra cash flow and expect a recovery in oil this year.

https://www.reuters.com/article/us-schlumberger-results/schlumberger-echoes-rivals-oil-recovery-predictions-after-results-beat-idUSKBN29R1DL
Could bode well for an early schedule for drilling and will certainly help with funding.

Absolutely not

I think there's more to it than a US stimulus package

https://www.youtube.com/watch?v=Tr2QiZCdpPM

JF deserves firing, not praise

He is a consistent liar and has failed EVERY target he has ever set.
He sold out shareholders to line his and his cohorts pockets.
He is a liability and should be shown the door ASAP

when you have an unreliable source of income in the form of the KRG, you don't want debt on your books.

It's common sense.

If they were to stop paying again, the coffers would soon empty and there would not be enough in the kitty to settle the debt and 2016 happens all over again. Get rid of the debt while the cash is coming in.
You can postulate any scenario you like if it were a normal financial regime that GKP are in but it is not.
We have a spineless fool as a CEO who rolls over to anything his lords and masters tell him to and that is why we are in the position we are in.

"The buy back was an efficient return of capital to shareholders"

What planet are you plugged into?!

The average purchase price versus todays share price tells you that the buyback was an idiotic move.
Cancelling debt saves 10% coupon which could be used then to buyback shares on a regular basis.
It's downright stupidity in todays economic times to be dishing out money on pointless buybacks or on dividends when the company still has six figure debt amounts.
It would be different if the client was exemplary at paying the dues, but they're not.

For more balance

The debt should have been paid off instead of the stupid share buyback at multiples of todays share price

"Capex required for 55kbopd."

He raised funds for that at the shareholder wipeout

"JF!!! Has created little value here"

Ferrier was installed with GKP share price was 36p in old money. We are currently at 1p in old money!
He has wasted HUNDREDS OF MILLIONS OF $'s of SHAREHOLDERS money, if you count his giveaways to the local government and failure to collect on debt owed, it totals well over $1 BILLION!!
GKP are producing the same as when he took over.
He has lied constantly to shareholders whilst enriching himself and his cohorts through unjustified bonuses.
GKP is management heavy and the structure is geared only to feeding at the trough, it needs a total clearout and real, competent oilmen put in place instead of the useless cardboard cutouts that infest the current boardroom.

"the reappointment of JF "

would be the biggest mistake ever. The man is utterly useless, a liar and should be unceremoniously booted out the door at the earliest opportunity with zero rewards for his monumental failures.

Would be nice if they did that but the current infestation of the GKP boardroom have history of never collecting the debt but instead paying more to our masters for the honour of still being listed.
Operationally, they have achieved nothing, financially they have cost shareholders billions.
They need to be replaced with actual oil management who know their job and it needs to happen now.

I can't see the KRG ever repaying their debts as long as the spineless idiot Ferrier is involved in the company.
With covid still around, Ferrier will gift our money to local government to "help the cause"

These RNS's are normal practice, nothing to panic about and don't indicate impending doom. They have to notify of total voting rights and when shares are being admitted for trading.

If the lower reservoirs prove to be what is expected then LOGP's share of Barryroe could be as much as 120 MMBOE

This one will be worth monitoring.
With all the shenanigans going on with the US election, China will look to get their mitts on anything they can to secure assets for the future.
The price they pay per barrel OIP will give a measure at least of what Shaikan is really worth, assuming the Iraqi's and Kurds can come to some form of agreement in our lifetime.
All that remains then is to have a management team in place who actually turn up to work to do some work instead of lining their pockets with shareholders cash and giving away the company for nothing.

"Highlander, you state Jaap was"complicit" "

I didn't use past tense