Member Info for Invstrat

Er….. is that the same place as The Gulf of America ?

Should the disparity between $6 and c.$16 /bbl prod-expo costs be grudgingly upheld … I think we all can guess into whose trousers the discrepency will end up !

I’m considering investing in a local Iraqi biscuit manufacturer - as that will be a surefire growth sector over the next year(s).

Would be SP positive and an act of commercial mercy if any of BP’s professionally managed competitors took us out and ended this doldrums existence we are are being subjected to because of our lackluster ‘management’.

Compare and contrast eg Shell’s team of professional, young, highly qualified and dynamic executives - with our Current incumbents :(

Bring back Bernard - the guy had charisma and initiative……. (we could even forgive him for being ‘a lad’)

Meeting deadlock is it ?…. Now there’s a surprise.

Nobody wants to disclose where our missing payments evaporated to, and likewise - nobody wants to pick up the bill for our debts.

Turkey won’t open valves until someone picks up their fine.

As I said…. perpetual motion.

When’s the next biscuit meet sheduled for ?

Correction: “lower profile” !

Agreed - the areers are long gone and neither Erbil nor Baghdad want any part of chasing up liability (as I suspect the monies went elsewhere……).

Can’t remember if the other little IOCs got stung by the same trick - or were we singled out because of the crazy and visible cash we naively held at bank and our well publicised ‘no debt’ boasts.

May have been wiser to pay it out in divies and maintain a power profiel ?

Best to keep a low profile in this region - or those in positions of wealth and power get greedy.

Perpetual Motion continues…

I still suspect that the delinquent debt went walkies into offshore accounts of the rich and infamous - rather than the unearned incomes of the Gort. Emplyees - so passing the buck at biscuit meetings expecting Erbil or Baghdad to even admit that there is debt - will rumble on and on until the camels come home. Our contribution to the AKIPUR monthly invoice will produce no tangible positive contribution to our bance sheet.

Remember where and with whome we are trying to run an honest business……

BoD will be amassing justifications for bonuses all round soon.

Perpetual Motion discovered in Iraq.

I thought an agreement was already signed - to market export oil via SOMO (or was that an earlier,now dissolved, biscuit meeting )?

Good News is that: The oil is still in the ground- just waiting to be pilfered by those representing the population.

Not really surprising…. always at the ‘wrong time’.

Buybacks are never a clever cost effective short term move (except when they can be held ‘in treasury’ - for later transfer as bonuses to those running the show).

If the goal is an increase in SP, the measure to be employed is DiviDends.

Nothing responds quidproquo like them.

«WE» may get a rude awakening - if put in gets put out by his disgrunteled kamerades…. as their ill-gotten wealths are even further erroded by increasing sanctions, confiscations, a rapidly worthless currency and impounded real estate assets and expensive toys.

Trust he carries his nuclear football within easy reach - just in case all needs to go mushroom shaped - to save his own skin.

Let’s hope so S-cat……but we are dealing with some seriously wealthy slippery local rulers - and they didn’t amass such wealths by being fair and obeying rules agreed and signed from Baghdad.

Oh dear - the buybacks fallacy still rumbles on :(……

They are a last resort activity for a floundering BoD - who can’t come up with a calculated and risked array of alternative business vectors for deploying our precious resources within the technology of our core business or within the market and its competitors - we are exposed to.

Should the accompanying RNS contain the words ‘to treasury’ - I think we should all have anticipated by now - in whose pockets the limbo shares and the now neutered capital used to buy them back - end up with.

If - ‘for cancellation’ the results will be insignificant and at best transitory for a few trading days.

The default strategy for an inert and apparently inactive BoD procrastinating over what to do with our embarrassingly stagnant cash at bank - should be DIVIDENDS…… the markets respond instantly and positively.

Always.

Irrelevant whether it’s 24 (or decimated to a much more realistic 2.4).

Greater minds (than those existing within any of the nine IOCs) will have already worked out how they will deflect the lion’s share of any such fantasy claims into their own offshores.

Surely ‘25 will be a better year for us than ‘24 - or any of the disasterous previous ?

Best to all.

If Contract ruling is uncontested, export line opens and we get stable payments (from whoever), and all wells behave - could sp burst through the 150p barrier in 2025 ?

If the offending nine Oil cos. would just take the blame for illegally producing the oil (which Erbil then exported) - and man up to pay Turkey’s fine for them, and all the subsequent oil they produce is invoiced via never-never-Erbil (who should then sell it on to SOMO, and short pay/delay pay us as before).

Only then are all ducks lining up astern: Baghdad/SOMO gets to export all oil, Erbil’s warlords get their palm’s graced and regain control of us on their preferred terms, Turkey gets off Scott free.

A Win Win Win solution indeed - taps will magically open and our donations of cheap oil will flow North.

Shares tucked away into treasury always end up in director’s hands.

What a waste of our Company’s working capital.

Hideous rewards to the few, by the few for such stellar performance (reminds me of their wealthy clones and home counties mates in the water boards).

Look at the year’s results to find why they justify self-awards.

Our BoD approving the maintenance of stagnating cash languishing at bank in excess of £100m - when the company has zero debt - is commercially troublesome to say the least.

Our local masters must be baulking at paying back their debts - when GKP is sitting on such conspicuous wealths.

If SOMO doesn’t take strict control over how and when Erbil deem to actualy pay our future invoices (in full), then I think we can safely predict how things will again pan out.

Oh yes it can - if the bought backs end up ‘in treasury’ (for distribution among the management - at a later date as bonuses).

Watch and learn…..

Using valuable, hard-won Company Funds for this buyback farce is bordering on commercial folly.

Subsequent ‘cancellation’ contributes zero to holders’ remaining shares (witness where out SP languishes today).

Retention ‘in treasury’ as dormant funds until inevitably dished out in ‘bonuses’ by the BoD for the BoD at a later date.

Wait and see how this is swept under the carpet in the tide of euphoria (eg when the export lines are opened).

USE our spare Funds either in technically developing the asset and its performance

OR by drawing positive responses from the market by increasing our dividends.

If improving shareholder’s returns is indeed the goal.

I think our ‘cure’ solely hinges around being bought out by a professionally run competitor.

Simple as that.