Member Info for Invstrat

.... or they will what ? Pay their debts, return ‘missing’ funds, kick us out, take over the oilfields and stop the flaring themselves ????
Interesting times ahead then.

This neatly explains why GKP has never been allowed to be sold too.

Bernard will be casting his eyes over wind and tide companies to buy up right now as part of his declared diversification strategy - question is: which companies are in his sights ?

Totally agree FH1 - the junta must be having sleepless nights trying to think of how next to screw us - new wealth tax perhaps, or compulsory repossession of the asset due to not being technically capable of meeting production growth promises.... or why don’t they just buy us out (for a ridiculously low sum of course) as their’s will be the only offer allowed to see the light of day ?
Our BoD will be ordered to accept the bid in exchange for their eye-watering termination bonuses I presume.
Really strange that even DNO don’t appear to want to pick us up at sub-firesale prices.

Kurd ruling junta must be growing increasingly hostile at us when they see our cash mountain swelling with funds which should belong in their offshore accounts.
Maybe time to pay off our long term debts and return some serious dividends to decimated long term investors.
Can we find a BoD and Management Team who actually know what to do to grow a small oil company which is dangerously becoming top heavy with stagnant funds and may ultimately attract the wrath of their sole customer ?

Greencarrots: I suggest that the transition phase is financially harsh as the investment gurus are now in unfamiliar territory - and will remain entrenched there until the newly revamped and hybridized BP proves the pudding and returns a sound profit. Look at our sunken SP from where we were pushing 600p as a pure oil & gas company a few years back.
Agreed the tech is pretty basic and mostly proven - but it is a major investment to change the production hardware and in power collection infrastructure (run cables down existing offshore pipelines from modified offshore rigs sprouting solar panels, nodding wave donkies and threshing windmills.... whatever) and of course demand for hydrocarbon based chemicals will remain as a base product line.
So I’ll hang on in there until Bernard gets things done in style - and he will.

Believe me - Bernard’s a sharp cookie and has made the strategic decision to wriggle out of fossils and push BP as a green scene...... transition will be harsh no doubt, and we’re living the symptoms of that right now- but think of the longer term gains.
My tuppenceworth: pile in while it’s cheap as cheese and reflect in a couple of years on just how incredibly clever you were.

Opu - I fear that you are correct to be suspicious around this GKP strategy of using our working capital to buyback our Company’s own shares, then holding in treasury rather than immediately cancelling them to shareholders’ benefit (a counter to them having the technical and commercial savvy for re-investing the spare funds to better our business as a going concern).
I can only surmise that by holding them in the doldrums the strategy is to retain them for a juicy future divi up amongst themselves ‘for the super-human efforts, technical prowess and personal sacrifices they have worked so tirelessly to achieve the 55kbbls/d milestone for us’ er......laughably late and probably over-budget to boot.
Watch carefully how they achieve this without a whimper from us shareholders.

Koran: have to agree with you (at the moment) but times will ultimately change for us.
I had a dream:

Massive corruption will be stamped out in the lands of Iraq.
The repressed general population will finally be allowed to reap the benefits of their land.
Embezzled skinoffs will be tracked down and returned (to clear off the accumulating debts owed to us + compound interests).
The usual suspects will be interred, and keys lost in the sands of the desert.
Payments will be cleared within the month (and overdue interest will be applied on a day-to-day basis).
GKP will resolve the gas problem by supplying scrubbed gas to the Kurd PowerGen Grid at competitive prices.
The PSC will be favourably revised by a grateful MNR (as part of the gas deal).
The full potential and content of Shaikan will be released to the public.
IOCs will be fall over each other to buy us out - but our BoD will keep a cool head to secure us a spectacular open market deal - having first bought out GENEL and DNO at firesale prices.
Shareholders will receive quarterly dividends.
Shares will be bought back to leave a nice even 1m in circulation.
Oh ....... and flocks of golden winged camels will be seen to fly over Baghdad to welcome in the New Dawn each morning.

RDS seem to have caught the prime gusts of the Scottish wind deal first - hope BP can pick up some of the puffs.

Sitting very tight, but Meanwhile our SP goes down like a lead zeppelin.

Folks appear to be pinning the recent US fires and the current EU floods squarely on the oil companies.
Mr. Looney running ahead of the pack on the shift away from the socially unacceptable black stuff - so maybe BP will survive longterm, but let’s batten down for the long haul to see the SP over 400 again.

I bet TE are happy to get out of the pilfer zone before their reputation is tainted and are happy to accept that a significant chunk of the sales price will be via brown envelopes.
Serious Companies will pay a premium to disassociate themselves from this clusterflux.

BP once an English Blue Chip, then became American, then GOM disaster, now seen as UK based Energy Company dipping into all facets of that sector.
Wonder what the future holds ? - Mr Looney is a smart, slik player, so maybe we will see 400p again in our lifetimes ;)

Late dividends: the banks and brokers have learned from the mighty KRG ..... small fry can be jerked around at will when it comes to paying them anything they think they are due.

LS - I think you should add: « repatriation of the pilferred billions and a witch-hunt of the usual suspects»
Then, and only then, would the IOCs trying to make an honest buck in the region - be taken as serious investment chariots.

A chunk of that must have our name on it. Perhaps prison sentences will follow ?
The only crime in that region is being caught at doing an honest day’s work.

‘Fraid we must resign ourselves to accept that our monthly payments will steadily slip by a month each month.
Meanwhile the MNR will be paid before the oil is even loaded I guess.
Wonder where and to whom the buyers make their payments ?
Comforting to think that our sacrifices are benefitting the poor of Kurdistan.

Oh yeh - soaring poo, prudent buybacks, regular dividend handouts, 55kbbls/d, replace some of our incumbent deadwoods by fearless but prudent professionals....... and the MNR will be instructed to step in with a few Draconian measures to put a stop to our unbrideled ‘GREED’ (and redirect a large slice of the GKP profit pie back themselves).

I stand correctd ..... should have clarifed by sayong that a few bb share will actully be cancelld to increase the value of share still held - busy day here, not focussed on this tiddler and it’s machinations.