Member Info for Invstrat

Trumpetting great results via local sales yesterday heralds another round of awards and bonuses for sure (whether by dippinginto our bank funds or resurecting and reassigning the shares being squirreled away into ‘treasury’).

Problem is - it is rumoured that some of these local sales end up in embargoed countries.

The penalties of knowing getting involved in this could be punitive.

True S2316…. Some OPEC members are indeed cutting production to bolster the PoO. Simple economics.

Iraq are not, and when/if the P/L flows and N.Iraq and Kurdistan fields are added - the quota will be soundly exceeded.

BBay…. How much have they in fact ‘wasted’ on BBacks over the wasted 5 years ?

Can’t ‘ramp up’ as Iraq has already exceded it’s OPEC quota …

Just wondering - How much has been wasted in Buybacks over the past 5yrs ?

And what benefits have we shareholders gained ?

From today’s report:

‘Outlook

GKP remains focused on maximising shareholder value from local sales and unlocking significant potential additional value from the restart of Kurdistan exports.’

- Any progress on recovering our debts ?

- Surely today’s optimistic report will justify buying back more shares to be roosted in treasury (until they are awarded to the chosen few).

You should ‘give a toss’ or the treasury shares will still be in circulation (when they are given out as bonuses for achievements, successes or for just hanging around)

Trust you good self will be a benefactor……. ?

He will be severely rewarded I’m sure (maybe in buyback shares from our treasury ?).

Would prefer that he achieved someting tangible, as opposed to reporting on events - which any on this blog would source too.

He should be lobbying Stateside to : help get our bills paid, standardize all oil/gas contracts within Iraq, squeezing Ankara to pay Baghdad the fines that are due to them, encourage The Senate to have the Pipeline opened….. take yer pick

TT…. I’m totally in agreement.

At last, a resonance of commercial reason creeping into these pages.

J-A-B, let’s wait and see if SOME of the buybacks do indeed end up ‘in treasury’, as previously.

Also - the BoD/management accepted their positions for the handsome salaries offered.

The facility to then award themselves additional bonuses in the form of treasury shares (when they have not even secured our outstanding debts or increased production) is difficult to justify.

Bonuses should be directly related to them achieving KPIs which have been previously agreed via shareholder’s voted approval at the AGM.

Just to clarify..

Buybacks are a symptom of a BoD who don’t know/or are afraid to put their collective necks on the line and invest the company’s discretional funds in growing our businesses via eg: stretched target technology or calculated risk acquisitions…. so the fallback buyback ploy is a safe alternative (and it fools us investors into the perception that at least our BoD are doing SOMETHING to justify their mega salaries (and forthcoming avalanche of self imposed bonuses).

The second reason (which we must watch like hawks for) is to stockpile uncancelled bought back shares being sidelined into that old trick “being held in treasury” - ie: for later internal distribution - which should only happen on achievement of defined KPIs.

Best that we stay awake/mutually informed and vigilant via blogs such as this - innit ?

Welcome home and Super info CCC, most +ve News on this stillborn investment I have seen in over 10 wanton years.

Bodes well for our remodeled contract when Baghdad has the cahunas to stand up to the wealthy Kurdistan tribals to get our house in order under SOMO and predictable and reliable payments and allow serious financial modelling to develope the resource properly ;)

Even after Blinken gets the two to agree …. hotheads somewhere, sometime will break the transient peace …… and blood-letting will inevitably kick-off the cycle again.

PoO will react as per historicals.

So at least we know the future - we just need to interpret our timings intelligently.

All sounds positive from uncle Sam’s ambitions for Iraq.

But fear not - personal greed and the usual pilfer-driven influences will scupper any good intentions to help develop the country….

If no exports - then reduced opportunities for ‘ signing fees etc ‘ revenues to the leaders.

This won’t go on indefinitely - as reduced private wealths will force a resolution.

Someone will buy the product, as storage will be finite and locking in production will make IOCs even less willing to invest.

Would be a bit more impressed if the wise ones running Iran would be arguing around how our debts will get paid, when, and how much interest they have accumulated.

Are they really trying to attract more IOCs to plough more cash into their country ?

The debts are long gone - into private accounts no doubt.

A more incentivised BoD should have persued them vigoroisly.

But no sweat - they will undoubtedly soon receive their bounteous bonuses via our buyback shares as if they had acted as diligent managers.

19% of shares bought back !

Oh what a waste of our precious working capital -it should have been used to GROW the business instead.

Shell vs BP:

Just go compare the CVs of those running them, and you’ll realise why She’ll is worth £100b more.

So - war in the ME looks inevitable (for either or both of the two obvious scenarios developing).

Bit naive of BP to get into Kirkuk area, one could suggest - given the situations !

Delightfully mixed messages you deliver today BB…

Will the GKP bubble still be deflating if the likes of BP go an a buying spree in Iraq ?