Could MA just be an interim safe pair of hands until we are taken out at these low SPs by a serious, dynamic IOC who will inject new life into the management structure of the Company ?
Actual cost of production is easily documented as most of the IOCs have solid records over several years.
Contracts made with (the ruling families) in Kurdistan can be accepted/modified/ or re-written and legalized by the Court of the land.
That only leaves agreememt of an acceptable mechanism to allow pilferring ……
Job Done.
Buy-backs do nothing for our share price……. other than creating a temporary drop in shares on issue - until the BoD vote themselves a wedge of new shares as self-award for ‘a job well done’ since their previous round.
A proactive and dynamic BoD would be reinvesting our precious working capital excess in the core business, or acquisitions, or new technologies, or improved efficiency …… whatever.
Opportunity to inject some much needed new blood has come and gone then.
The likes of The Good Dr. Woodburn would have given us a much needed step change in leadership - but our dynamic BoD have elected for the safer (for them) option of nepotism.
Just the ruling families to secure their cut - and oil should flow Northwards then.
I still reckon that if we operating in Kirdistan can agree an equable slush fund to satiate Baghdad/SOMO/Erbil greeds, then things will happen post haste.
Seems that the local Erbil famillies have legal authority over «The Production of natural resources within the semi-autonomous Region»…….
Says nout about Sale of the natural resources ?
Hopefully some of you formally legally qualified contributors can decipher the wordings ?
PS our vocipherous bean counter contributors may be a little out of their area of expertise on this one ;)