Adam Davidson, CEO of Trident Royalties, discusses offtake milestones and catalysts to boost FY24. Watch the video here.
Seems a neat face-saver then: levvy a penalty on us IOCs working under the usual Erbil warlords to pay-off Turkey’s fine for them (plus a sufficient pilferring factor to satisfy them) and it’s a win-win-win (at no cost to Baghdad, Ankra or Erbil).
What an elegant solution.
ICG should rethink extending KRG monies to pay us…. route should be ICG->SOMO->IOCs which is what the new law dictates anyway (otherwise the temptation will be too much, and the loan will disappear into private offshore accounts - same as what I strongly suspect happened to the funds which were due to pay us originally).
May as well hand Mr.Fox the keys to the chicken hut.
Positive news that Erdogan will travel to Baghdad (presumeably to secure the best deal he can (for his family of course). Trust the Bar-Z family will be represented to secure their cut……?
Then, and only then- will the taps be opened and wealths will flow into their respective Offshore Accounts.
I think the Iraq>
I think the Iraq>
Plenty of beancounter mumbo-jumbo around today ;)
Fact remains that the (clever/cunning) ruling families have short-circuited SOMO’s paper tiger law and are creaming it at the moment via the ‘for local sales’ ruse.
They will fight tooth and nail to keep this local scam running - and the pipedreamline to Turkey firmly shut in.
Wouldn’t you ?
Asked a Moscow court indeed !
Freeze every asset and rubel Rosnyeft (and all of its fat cat directors) have squirreled away overseas (incase The War is lost !).
A day of reckoning is coming…….
I think GKP are allowed to net 12% out of the $30/bbl local sale gross price, so fear not - the ruling families are making double or even treble over the $30/bbl….. so they are squeezing somewhere between $56 and $90+ a pop.
It’s their oil after all.
Nothing will move here until:
Turkey gets the fine lifted and the next cancelled.
KRG ruling family are absolved from paying any outstanding bills (including our paltry $151m).
Assurances from authorities in all three states that official blind eyes will be applied to all pilfering relating to acquiring, selling and transportation of hydrocarbons.
….. then we may see oil at the end of the pipeline.
Good to see we have another solid and widely experienced oil//gas/energy incumbent at the trough.
Where do they find them ? - and who sets the cranky strategic vectors ? - then has to dig around to find a ‘best fit’marketeer to carry the ‘lost leader’ approach to energy marketting through to abundant sales of kitchen and bathroom products ….. while mainstream customers attracted by the cheap (ie LL) pump prices sit in overcrowded forecourts while Mum loads up on nappies and kitchen roll jumbo packs.
Get a Grip BP and pray for another focussed Bernard clone to come along- before you inevitably have to go to the market to force your plan to be seen to work by bidding to take out your nearest competitor WaitLidlRose.
Something haunts me about the delinquent $151m owed to us:
Has anyone thought to query where that money evaporated within the KRG (and send the bill + compounding interest) to the benefactor - as it sure as flux wasn’t the general population ?
Pipeline has to open - the ruling families in Erbil, Ankara, Baghdad must have each lost multi-millions in their various creaming scams to defraud their voters and we mugs - who make it too easy for them.
Just had a look at the Board….. seems to be missing hardcore energy bods who are immersed in the energy industry, the energy markets, the reality of what and where energy is currently vectored towards for the future.
They must have frustrated BL in his quest to adress the future for BP - as he undoubtedly will be proven right.
Hope he gets hired by a less Victorian Energy Company.
External Financing - why on Earth ?
GKP have:
No substantiv debt.
Are owed $00’s of millions
Are on the brink of having their license to produce approved/(extended ?) by a Sovereign State.
Have built up a top quality facility.
Are sitting on a massive oil & gas reservoir.
…. so why seek dilution via farm-out or external financing ??
Let’s get real - takeover from Stateside is fantasy ….. UK Govt. would never allow a Blue Chip local firm to be gobbled up for a few dollars more - more chance of RR car division going to German maker ;)