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#BREAKING: Kurdistan Region oil exports have resumed via Turkey’s Ceyhan pipeline following a brief one-day suspension triggered by regional instability, with operations returned to normal on Wednesday

Now shamaran from next door are hoping to move from Canada to Bermuda with a view to also list on the Oslo market with the obvious previous connections to the GKP board, it’s becoming more exciting than usual, the GKP share price continues to rise with its highest close since sometime in October last year, the American pinks are up at 2.29 pounds a share and I am beginning to think that some sort of corporate action is approaching to get control of possibly the worlds third largest oilfield. Umm I think I’ll be holding and even adding from here.

I’m pretty sure the contract runs until 2042 with existing extensions so not too soon plus I would not be surprised to see further extensions granted in return for owed debt…if we still exist as an independent company by then

"Harbour Energy to acquire LLOG for $3.2 billion, enters US Gulf.

"LLOG currently produces 34,000 barrels of oil equivalent per day with operating costs of $12 per barrel. The acquisition adds 271 million barrels of oil equivalent in 2P reserves."

$3.2 billion for 271 million 2p reserves values our 443 million 2p reserves at $5.2 billion or £4 billion.

Which is £18.4 per share.

They produce 34k bpd whereas we currently produce 44k bpd and rising.

Their operating cost is $12 per barrel whereas ours is $4.

Sounds good to me.

We used to work these things out at $1 billion per 100 million barrels, it looks like we need to up that to $1.2 billion per 100 million barrels.

Like everything else oil reserves are getting more and more expensive and that's because they're getting harder and harder to find.

You are not considering the elephant in the room, the contract GKP has was considered illegal until now. We are now totally legal and endorsed by the Iraq central government which means major risk discounts should no longer exist.

There is a webcast recording of DNOs CEO saying that in September this year it could go that route without icg having a say in the matter, I’m sure you’d find it if you look, it was around a year ago.

Baghdad court ends Oil Ministry challenge to KRG oil contracts

Ben Van Heuvelen and Staff of Iraq Oil Report

Thursday, February 13th, 2025

A Baghdad court has rejected a last-ditch effort by the federal Oil Ministry to invalidate the Kurdistan region's oil contracts, cementing a legal victory for oil companies and clearing one potential barrier to restarting Iraq's northern crude exports via Turkey.

After losing an appeal at the Karkh Court in Baghdad last December, the Oil Ministry asked the Court of Cassation to reconsider the case. But the court upheld the prior ruling, effectively closing the final avenue for appeal, according to two Baghdad officials and a statement from the Kurdistan region's Ministry of Natural Resources (MNR).

Not quite true, as GKP reinvest to grow production this money will come back via the crp and that in turn will come back to shareholders as dividends

If it is defensive and not price oriented then they will need to extend the time frame or announce a new program as the current runs out this year.

Well if fair value is achieved by selling GKP as a whole at a price based on an extremely conservative $1 a barrel for oil in the ground in shaikan, I would say minimum 1 billion dollars so at least 4 pounds plus a share, and let’s face it, legitimate contracts are what has always been required to be bought out.

And that capital is constantly being replaced with profits from local sales

Well they stated interim dividend so must be at least one more, presume similar size but if we are making approximately 100million dollars a year profit there should be room for both more dividends and buy backs and keep the 99million in the bank as a safety net. Fingers crossed for at least 50 million dollars distribution a year between dividends and buy backs.

Why was this post removed?

HANNAM

Posts: 1

Price: 144.10

Strong Buy

RE: LTIP.Today 12:18

I a find it rather difficult when reading this board to establish whether avatars are deliberately trying to destroy sentiment , or just don't understand what has been happening here regards corporate M+A.

The CEO one off bonus voted on at AGM - is a " stay bonus" it is a requirement of the buyers that he doesn't just leg it on Sale with all his options.

6 month minimum post sale transition - so he only gets it if he is still there Jan 2025.

The time served change voted on at AGM is also a requirement of the buyers .

The large local workforce get a reward , but over time , so again the buyer doesn't risk all the general workforce departing en masse.

The buyback is actually a stabilisation program under MAR rules that the Takeover panel will have approved pre RNS announcement.

I will await this post being swiftly removed.

Cheers

Paul

I find it interesting that you keep saying that the CPR monies are almost over, when in reality, as long as gkp keep spending on drills and other production facilities as the field is developed, these monies will keep coming back to gkp, what is your purpose here?

Ummm GKP share price is always falling because it has paid out dividends, so why do other companies who have been paying out dividends for years not fall in the same way as you suggest. Yes of course as soon as a dividend payment is made share prices usually fall by the amount given out but what you forget to mention is that they recover because the actual dividends are payments from profits the companies accumulate and after a dividend payment is made the companies continue to make more profit filling up the next dividend payment so I don’t think your reason is valid, well maybe for a month or two until the profits build back up and as gkp were making lots of money on a monthly basis before the closure I do not believe it was the dividends that caused the drop from three to two pounds but the political risks which if the pipe reopens will now be gone and the contracts legit so the share price will climb a long way above three pounds once the profits start accumulating again and the dividends are reinstated.

The simple fact that the KRG oil as previous stated by SOMO, will be sold at the same price as the rest of Iraq oil, negates the argument for Kurdish pricing and £3 is easily attainable never mind the fact that the political risk price reduction will be lifted, albeit slowly, £4 is certainly not outside the ball park in comparison to peers in the industry!

The simple fact that the KRG oil as previous stated by SOMO, will be sold at the same price as the rest of Iraq oil, negates the argument for Kurdish pricing and £3 is easily attainable never mind the fact that the political risk price reduction will be lifted, albeit slowly, £4 is certainly not outside the ball park in comparison to peers in the industry!

You seem to suffer from the delusion that the oil market is a buyers market when as the world knows it is a sellers market, hence the likes of opec dictating prices and quantities allowed to market. So if Iraq say krg oil via somo is the same as other Iraq oil products then that is what it will be, if the buyers don’t agree to the new contracts then they don’t get any oil. Please stop it with your negativity!

Iraq Basrah heavy is currently 82 dollars and Basrah medium is 85 dollars and seeing as somo will sell the oil then we can expect one of these prices unless some of iraqs oil is sold in the pec basket then the price is higher, so happy days to come with the opening of the pipe

Do the maths, 12% approx krg budget, 12% of 220k barrels is approx 21k barrels divided by how many oil producers in krg, if it’s a fair split then not a large amount from krg or gkp but Iraq may take all the cut