Member Info for Invstrat

agree there ****eye, but we can probably conclude - that was/is not the game plan…..

see it from their perspective - their oil is still there in their ground to be extracted after we have all been removed, without a chirp.

i guess its called a ‘win, win, win’ for the tribal rulers:

(no pesky historical bills to pay, their personal oil company takes over, no interfering foreign owners with illegal pscs to deal with).

….. trouble is, if they don’t divvie up the spoils, assets and revenues correctly internally and i would expect internal familly feuds to erupt within the region.

….. and so it will go on, and on…….

So, the tuling locals taking over would be a formality - (in the inconceivable event of us unpaid oilys being forced into bankruptcy) ?

Interesting !

So, the unending excuses and objections continue to erupt - and we are soon back down to 1p (old money - after the 100:1 catastrophe), so I guess the locals won’t take pity on us by even paying ‘1p in the pound’ to take over the physical assets - why should they ?

They just need to wait until the oilys soon start to go into bankruptcy, and then move in (and of course any attempts at takeover from IOCs would be veetoed immediately).

I doubt if any of the surviving oilys could afford a protracted court campaign to claw back a few $s in unpaid bills as the outcomes would take years - and any findings by foreign courts would be ignored off-hand of course.

Can we collectively afford to pay Turkey’s fine - to break this cleverly contrived artificial deadlock to acquire is foc and evaporate these upaid bills ?

Sorry, but:

The game plan looks increasingly like that of starving us all out of their region.

Some of you learned guys must know what recourse we would have against enforced bankruptcy via a strategy of non-payment of invoices and blocking the ability to export our product to them ??

Perhaps we sould then advise our BoD as to what preparations they should be putting into action now ?

A few weeks ago I jested that «maybe the tribals have done a deal with their Turkey mates to keep the taps closed until we either stump up and pay Turkey’s $1.5B for them or go bust - whichever comes first.

Now I’m not so sure.

If so - how devious they are in that neck of the woods..

None of us should have to ask such a question - a lavishly reimbursed, incentifised, committed and conscientious BoD would be informing their owners of what activities they will and are performing for us during the shutdown ….. (if only to prove that they are earning the wages and bonuses they have voted themselves to receive)!

Hope the poor population (and the starved IOC’s) see at least a token % of it.

Perhaps Baghdad should audit where exactly the loot ends up ?

The tribals will surely prioritise their personal losses during shutdown ??

Their excuses for not paying us what we think they owe us (plus interest) - will make fascinating reading……

…… depends where it’s located, silly 😉

What do you think is the tribal’s strategy in not paying those who abide by their contracts and donate oil to them ?

Why did the directors of these companies not unilaterally cease production ??

Where did the money the tribals received from selling the oil disappear to ???

These are a few of the questions which need to be answered.

The ICG should be telling the Erbil attendees what they are entitled toas this % has already been set - not asking them what they would like to approve.

Putup: yes arma…… just a ruse to get him up out of his box (and it worked of course ! :)

Transportation will be, as previously, via the trucks owned by a prominent local familly (to and from their own refineries of course), the cost of this will be deducted from our fictitous sale price (not that any bills will ever be paid).

If ICG can remove the latitude for local corruption/pilferring, and our production licenses are not withdrawn - I think their is still a chance of returning a fair roi.

Overdue payments for product supplied and interests due on same - will be a miracle if we, or the indigenous population, ever see any of it.

However, no-one expected a 100:1 bloodbath here (including myself).

The proceeds from sales have gone somewhere, and must be traceable (unless the corruption runs so widespread and so deep that the entire political hierarchy is involved) hence investigations will never transpire and the benefactors will escape scot free and tax free.

My 7 figure losses must be someone’s illegal gains.

Western courts and their pathetic findings are laughed at in the region…… watch how the Paris decision evaporates into zero.

Great theory there man - but the loan would never be paid back, nor would it be used to pay the fine (it would evaporate into private accounts as we all know) - a bit like the monies KRG received from our daily contributions of oil.

There must come a day of reckoning in the region eventually - and a few seriously wealthy high ranking persons will be eating porridge until the camels come home.

Buybacks achieve nothing in my experience. Better to use the company’s accumulated capital to diversify, improve operating hardware, buy

-in new technology, buy-up competitors……. whatever !

New shares are inevitably issued to service directors’ next round of bonuses and awards.

Net effect - zilch.

«A committee will review the fate of these oil contracts» - which implies that contracts do in fact exist.

Preferred option for Baghdad would be :

cancel all of these illegal contracts set up under Kurdistan,

wipe the slates clean of all unpaid debts incurred by Kurdistan to date,

set a price for us to have our contracts re-issued (with copious signing fees of course) under Iraqi law,

lend the money raised as a loan for pay off Turkey’s fine - and open the taps

.

A win-win-win for them, and a goodbye - see you in court from all of us (Baghdad may as well cancel their «invest in Iraq campaign» ) !

Anyone see a worse case scenario ?

Nothing, Nothing surprises me now.

OK - but they are ‘ the wrong type of biscuits ‘ then ;)

Just two things to agree on then:

Dump Turkey’s Paris’s illegal fine on the Western IOCs operating in Barzanistan - in return for Baghdad recognising their illegal operating contracts.

and

Set up a slush fund levied on every transported barrel for all future oil exported via Erdogan’s pipeline - including the great man, tribal leaders in Kurdistan and likewise in Baghdad.

Only stumbling block is the participants personal slice of the cake.

A further round of biscuit meetings to be tabled then ( no Jacob’s Clubs or Jaffa Cakes allowed).

Why is Barzani sticking his nose in here ?…… should only be Ankara>

Erdogan will not want the fine paid from his pipeline transport fees unless his cream comes off first.

Think the worst pilferring that can happen - then prepare for the unimsginably cunning scam ….. and you might be on the right track ;)