Member Info for Invstrat

Z was hired as facilitator to GKP - no doubt at insistance of his mate Hawarami, the Kurdistan minister of oil (who has a bolthole mansion on the Thames at Henley).

Both are seriously wealthy of course.

Z trousered several £million, for his tireless efforts as counsel to GKP.

On his ascension to High Office in Cameron’s govnt., he withdrew his services from GKP.

He was sorely missed.

Redirect the funds wasted in the buybacks fiasco into taking the rulers to the ICC for recovery of the growing mountain of debts we are legally entitled to.

Accountability as to where the funds which should have paid our debts ended up - will come out in the wash.

Corruption may be behind this farce - who knows !?

Buybacks NEVER give a value added return ….. a savvy BoD would opt to spend our free cash on technical improvements or acquisitions.

Correct SpA…. The loot from these illegal oil sales and transporting of same is going to a few controlling famillies…. The rot runs so deep that the population see no benefit.

This may come back to bite all involved (including our good selves - as we are handing over our product illegally under a non state approved contract and in the knowledge of where it is being sold !

Surely the revenues from the illegal sale and transport of oil from Kurdistan is being collected by someone, somewhere ?

I am surprised that the USA stands by doing nothing to legalise control, while graciously donating funds (raised from the USA taxpayers) to Iraq - while the embargo breaking sale of oil to Iran continues, and the ICG/SOMO is not yet in control of oil sales, as was agreed previously.

The breadth and depth of corruption around this is breathtaking.

Something has to give.

Yes, I recall we were caught previously by ‘the buyback scam’ …… company cash was used to buy back shares which were held ‘in treasury’ and later distribute among the BoD as bonuses.

It was Criminal, but no prosecution was taken.

Danger this time is that the BoD will claim that the tireless buyback actions (and subsequent cancellations - we hope) are evidence of their efforts to manage the Company - hence justification for the award of the proposed bonuses - which will be voted for at the pending AMG

Watch and Learn …….

Time is ripe for us to be gobbled up by a larger, professionally run Big Oiler - who will surely restructure to achieve the true potential of our assets and strategy.

How much are we worth ???

Surely significantly more than today’s SP - plenty of knowledge on here to vector a probable value ;)

OK AGM 21 June….. only two really important items on the agenda:

Approval of staff retention scheme (a substantial bonus will be sought for hanging around until pipeline opens no doubt)

Approval of performance bonuses (ie this will be a fictitious self-award over and above the salaries the management accepted when they signed up)

These justified by the stellar performancies they have achieved in :

growth in production, diversification, inspired deployment of our dormant massive reserves of capital, dividends, progress in engineering for gas re-injection, reduction in flaring, drilling new wells, workovers, upgrading plant and machinery……..

What in reality have they achieved to progress our business during 2023 (or plan to achieve during ‘24) ??

Too much private money being gleaned off trucking and marketing cheap Kurd oil over into Turkey to bother with official procedures.

Everyone’s a winner (except the population, of course).

Same same.

Self made Multi-millionaires with degrees in Fahrenheit and Centigrade slogging it out in Armani suits and Saville-Row dish dashes …… all for the benefit and long-term security and wellfare of the population of course.

Makes one proud to be a contributor.

I’m sure we all graciously accept your profound apology PPUTUP.

Whoever you may be.

Let’s see how things pan out then…..especially if the BoD pick up their bonuses for achieving nothing stella ;)

As I raved recently…. Buybacks are very transitory, but the BoD are preparing us for the resurection of that old twin self-awards of Staff retention and Performance bonuses due to be voted and confirmed at the forthcoming AGM.

Why on earth do the BOD think shareholders will vote to confirm the massive bonuses they have propsed for themselves for no tangible improvements to our business ?

Glad that the remunerations committee is performing productive hard work and dedication during these challenging circumstancies…. ie progressing zilch on new wells or BOPD, taking nothing to do with pipeline or political negotiations (APIKUR does this for the group - we await proposals for their bonuses from all participating oilies).

Who on earth would approve these obvious fake awards among our shareholders ?

Jon may not hang around long enough to receive his doubled-up salary retention award, nor has GKP progressed in any way materiallager under his managerial expertise..

Those who are proposing their bonuses are those who sit on their own remunerations Committee.

Oh it will be a double bonus system: award for exceptional efforts during reduced production AND a retention award for hanging around awaiting full production to return and bonuses to arrive in recipients salary slips !

This must be illegal under common law to be both proposer and benefactor with monnies that belong to shareholders ?

We assume that the AGM will be held in an obscure Location to force-limit mass attendancies.

As usual with the buyback strategy - the difference to SP is minimal and transitory.

A more effective strategy is to restart dividends - the SP would respond eagerly.

Or spend on drilling, or workovers, or upgrade equipment, or start setting up for gas injection, or ….. I recall a previous spate of buyback mania where the shares were ‘held in treasury’ then after a suitable period - were dished out as bonuses and incentives.

Wasn’t this exactly the kinda strategy and opportunity that good old Bernard was surely dreaming about in his (unpopular) stanse to steer the Company away from it’s hitherto core business of finding and marketting CO2 producing products ?

Take a bow Bernard (perhaps - if Murray can pull it off before Bigger Oil catches on).

Time and TESLA will tell.

( SP and propensity to be bought out for serious bucks will follow).

Belg, your item #2:

Turkey still liable to pay the fine for transporting the oil illegally, but Erbil did the actual exporting, and received the payments - so are they liable too ?

As you State correctly, Erbil continues to defy State law by exporting meanwhile, but that appears to be acceptable (Ankra must wonder why they are being fined when Erbil are not).

OK they wriggled, delayed and avoided paying us some of the invoices (but that will be glossed over of course).

Where does the buck stop around there, one wonders ?

Somebody tell Sleepy Joe that the cessation of pipeline exports is only about corruption, pilferring and personal gains - if he thinks that the general population sees any of his naive US aid packages $s - he really is sleeping.

CUT off all aide until exports recommence - then we may see action.

DNO have a very dynamic, ME recognized and flamboyant MD in Bijan M-Rahmani.

My sizeable DNO investment feels secure in his hands.

….. Who was that running GKP again ??

Obscene ….they already trouser more than ‘cancer surgeon salaries’ for the very short period they have been learning the ropes around the complexities of ‘the counting of the BP beans’.

Not to worry - the BoD can just issue a new block of shares to make up the deficits.

What was all this buyback smokescreen ?

Thank heavens these extra extra bonus awards are performance related.

What performance KPI, one wonders ?