Member Info for Invstrat

Judge resigns.

Not surprised….. the law has no place there.

He risked waking up to his favourite camel’s head in bed beside him perhaps ?

Let’s hope Old Joe vents his spleen on the hideously wealthy Iraqi & Kurdistan rulers when they meet soon.

This get-rich-kwik (at the expense of the lowly population) has to come to a head soon.

As ICG didn’t send several monthlies last year - as they suspected they were not going to pay the population - the tribal chiefs in Erbil didn’t miss out on pilferring from the agreed 12.7%…. they just pocketted our due payments.

Its as easy as that !

Pipeline not laying empty then - arguements about our production costs etc., will be delay until after ramadam for sure - so that those who control the flow can continue to pocket a few more daily millions at both ends.

I think that the ruse is now fully exposed and the USA will come down very hard and very soon on those millionaires in power will be held responsible…..

Hmmmmm - sounds like sticky fingers in ICG are allowing santioned Iranian oil into the Turkish pipeline in place of Kurdish oil from our good selves.

Probably brown envelopes at both ends of the pipe then.

Erbil tribals will need their cut too of course - or they would have leaked the sanction busting to DC immediately.

But we must remember where we are trying to run an honest business and that the Iraqi people get paid on time.

Watch and learn how corruption goes directly to those in power.

So we are liable to meet the cost of removing/reducing flaring are we ?

Not without an approved FDP I would suggest.

How long has our license left to run incidently ??

Get real - IOCs operating under the tribal governed PSCs will only derive a fraction of your dream figures - read back on putup’s calcs for a credible analysis of our income.

And remember - the tribal leaders know exactly how to default and short- change on our invoices….. and we appear to be stuck under them yet again.

Watch and learn how to skin-off and avoid paying according to contracts.

What is anyone actually doing about recovering our debts from the Erbil famillies ?

No human is worth an annual remuneration as ridiculous as that.

Base of 1mill plus a retrospective performance related (not exceeding his base) would still be excessive.

The rest of the management team will drooling at what they will get - based on this precedence.

Dammit - so plenty of scope for under and late payment excuses as to continue as before.

I wondered why the Erbil tribals seemed to be accepting SOMO taking over dealing with the invoicing and incoming payments for oil, and seem to remember a load of discussion about Baghdad re-writing the IOC PSCs, but that has been swept under the magic carpet.

Only morcel of good news is that the PSCs and families ruling during non-payment will remain in place and hence can be held responsibl to settle the debts (+interest).

Watch and learn how they wriggle out of it.

So still plenty of scope for the tribal rulers to abuse us if they are responsible for paying us as before.

Would have been much preferred if we invoiced Baghdad, and they paid us according to the PSC schedules.

Oh whatever, maybe we can appeal directly to ICG when the cheating recommences….. ?

One word answer Blu:

corruption.

You had mushrooms for lunch ?

OH, thanks for quick and comprehensive reponses guys.

lots of expertise on this site….. how did we all get involved in such a clusterflux of a share ;(

Question: if an entity is quietly accumulating our shares, having bought out 51% via proxy agents etc., could they then force through a takeover at substantially under market value.

Could the BoD block such a sell out on behalf of the minority shareholders ?

Yet another chapter of interminable meetings - called by ICG Oil Minister Hayyan this time…..

The skies over Baghdad will be black with private jets inbound from Erbil, and roads will be blocked with truckloads of (approved) biscuits.

What an ongoing pantomime of incompetence and self enriching point scoring at the expense of us little IOCs and the peoples of Iraq.

Good to have some fresh blood in the game.

Welcome David85….. hope you know what you have got yourself (and presumably your money) into !

Charge Baghdad to go after their rich cohorts in Erbil to recover our missing payments….. and meanwhile stump up as per our contracts.

I have no shame in receiving a long overdue cut of our cash - which is stagnating at bank.

GetL…… please explain: «Unfortunately it is ripping off the people of Iraq»

I have always held that the rulers are ripping off both the peoples of Iraq (via creaming off the sales of natural resources). AND little IOCs like us (via short and late payments).

Ohhhhhh, that’s not good news ….. time to dump my 114,000 hard earned golden tickets (or maybe not !).

Do the monthly costs of c.$6m incorporate the various bonuses, incentives and awards which our BoD will hang around, champing at the bit, to vote through for themselves ?