We would love to hear your thoughts about our site and services, please take our survey here.
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.
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).
BB - if we are only allowed to introduce 50-60% Shaikan production into the export line, the rest can still be sold locally (via the usual familly’s businesses) so they can get their cut that way.
It’s a win/win then !
Just the missing payments (plus interest) due to us from the KRG to dig into.
I think we all know where they probably went ?
Baghdad has the power and authority (to apply some simple forensic accounting) to trace these - unless of course ICG leaders have had sticky fingers too ?
Our Colonel (but seemingly 3wks old):
https://youtu.be/lNaCxXBPozs?si=Spy_QoUscxcxOvyo
Querie from a simple investor:
The shares buyback campaign uses up the company’s working capital (which could have been used in acquisitions, or investing in tech or new plant or how about paying off some debt .)???
These buyback shares are not all cancelled - as a big chink are held ‘off line/treasury’ to be dished out to directors and selected staff as «bonuses»
Please tell me I’m wrong.
‘Twas a strategic error appointing the good Colonel to head up our Consortium - should have been a local from the ME region who spoke the language and had lived through the political/religious/geographical traumas first hand, one who had walked the walk before opening his/her mouth on our behalf in Erbil/Baghdad or Ankara.
An ex US militarian would (and probably has) immediately polarized those he deals with on our behalf.
A justification as to this choice has to be presented.
Seems like Baghdad is determined to bring the Erbil billionaires to heel:
Reuced voting power
Summons applied to those holding Stateside protection passports
No oil pipe revenues to pilfer
No water flow from Turkey
SUMO to control all exports and revenues if pipeline is ever opened
Calling Erbil’s bluff on population and govt. employee numbers….
… have I missed anything ?
That’s exactly the problem belgrano - a handful of seriouly wealthy bullies who plunder their terrified population who exist in miserable poverty - while the highly uneducated tribal heads pocket the wealth of a region - without understanding diddly squat about the long game for the Region (and caring even less).
I bet there are several private jets at Erbil International kept fuelled and ready for quick getaways 😉
Worried and concerned appearancies in Armani suits with private jets and luxury villas Stateside - while stealing their people out of basics, will soon be exposed and hopefully serious helpings of porridge over many years will be the outcome.
Oh dear….. been saying it on here for years.
The ridiculous, sudden and unaccountable wealth of the Bar-boys had to get them noticed and into serious trouble - sooner or later.
If The Donald gets back his birth-right to the keys of #1 Penn. Ave……. surely a win/win deal will be struck.