Member Info for Invstrat

Just had a look at the Board….. seems to be missing hardcore energy bods who are immersed in the energy industry, the energy markets, the reality of what and where energy is currently vectored towards for the future.

They must have frustrated BL in his quest to adress the future for BP - as he undoubtedly will be proven right.

Hope he gets hired by a less Victorian Energy Company.

External Financing - why on Earth ?

GKP have:

No substantiv debt.

Are owed $00’s of millions

Are on the brink of having their license to produce approved/(extended ?) by a Sovereign State.

Have built up a top quality facility.

Are sitting on a massive oil & gas reservoir.

…. so why seek dilution via farm-out or external financing ??

Let’s get real - takeover from Stateside is fantasy ….. UK Govt. would never allow a Blue Chip local firm to be gobbled up for a few dollars more - more chance of RR car division going to German maker ;)

After carefully scanning the current BP BoDs - I have a gut feeling that the new incumbent will be From across the Pond, Female, Long of tooth, and Conservative (to the point of boring).

We will miss Bernard’s youth, energy, charisma and his lifelong committment and loyalty to the Company which he obviously relished working at.

Is ICG/Baghdad/SOMO miffed that Erbil (ie Bar-z) are profiteering by selling oil over the counter without SOMO involvement - and then ICG rightfully withold salary payments as this breaks the last biscuit agreement ?

Another round of childish disputes kicks off…….

Erdogan is personally loosing out each day - or is there a much bigger game afoot here ??

You’re welcome Planit - and it’s an easy slip to make, but your point is clearly presented ;)

The Americanism “do the math” - when they are faced with anything remotely arithmetic to count !

Planit - “ Prosperity is directly proportional to cost of energy.” !

I think you mean Inversley ? - or the black art of economics will have to be re-written ;)

GKP are betting their continuity on ‘local sales’ …. and the locals know full well that the management do not have the cahunas to go after unpaid bills for these local sales - so roll up, roll up….. and fill yer tankers the brim …. it’s free.

The only reason for ‘placings’ is to ensure sufficient funds are available to meet director’s salaries and their massive bonuses before belly-up day arrives.

Who in our management is going after the spiraling pile of unpaid bills in any case ?

Conceed that Erdogan, our local masters and now those in Baghdad need their cuts as a priority before anything can progress around here - so give them an agreed % each and get the next pantomime rolling.

Correct banter…. any of the trucks which dare to fill with oil are either subject to Erdogan or Bar-z control - so the famillies win as usual.

As if buying the oil at a knockdown $30/bbl then trucking it out to sell it for at least double that wasn’t enough !

Question is - how will they engineering things so they can avoid paying us anything this time round too ?

Watch and learn……

All Projections are based on the old (now deemed illegal) PSC.

The local buyer will now claim that they cannot pay against an illegally assumed rate per bbl. on our invoices.

Payments will once again evaporate as our customer enters protracted legal arguements with Baghdad.

Wonder which local familly is promising us a few dollars for delivering them their $30/bbl ( and probably selling it onwards for at least double that ) ?

I will be absolutely astonished of we ever see any payments from what will once again become our freewill donations of this cheap oil to them.

I think we all know how this will pan out (again).

Dammit - if the billionaires Erdogan & Bar-z have made another illegal to augment their stratospheric wealths even more - going against the ICG>

Why on earth is a Bar-z boy meeting with the Turkish Minister……. all Kurdistan oil gets marketed via SOMO !

Presumably the ICG idea obehind this was to cut out the massive tribal leaders’ pilferring - which has nearly ruined us ,and is blatant cheating of the Kurdistan population !

Where there’s a greedy Billionaire, there’s always a way round signed agreements and the law ;)

Wonder if anyone in KRG has the bølls to trace where the revenues actually go to ?

Bet if deposited in a Lebanon bank (rather than being used for paying what eventually becomes our freewill donations of oil) then a certain familly either own the bank, or have sole access to the deposits.

Just for the record: where did the $151 owed to us (so far) evaporate to ?

….. depends what’s in it for him(of course).

Irrelevant is any deal struck with krg as you would actually be dealing with the Bar-z boys (and they won’t be paying what you think had been agreed, and don’t hold your breath waiting for the phantom payment to arrive - if it arrives at all).

We live and learn (eventually perhaps) ?

Are they getting air miles ?

All these trips to the fleshpots of Baghdad by the honourable gentlemen of Erbil …… makes them seem important in the eyes of families and the confused public back home - but nothing ever gets decided «pass the biscuits» is the standard contribution.

If SOMO not consistent and as per contract with payments - then we turn off our taps ;)

Good idea - but it will only fly if Erdogan familly have a sizeable bucketfull in the deal…..