Member Info for Invstrat

New Jon a veritable chatterbox compared to his multimillionaire predecessor.
Wonder why it is taking sssssoooooo long to drill a few simple onshore wells and tie them in ?
I recall the saga of the dowhhole pumps from 5 years ago ....... and still it continues.
Here we are with so much cash available that it is becoming an embarassment - and 75% of it is not being reinvested to ramp up production. Seems strange - to say the least.
Hoping for a dividend bonanza and positive news as to how our BoD intend to deploy our funds ...... buy shares in Tesla, stick in a cheeky bid for DNO, offer to build our hosts a gas fired power station, play the horses - take yer pick - but ffs DO SOMETHING to stimulated our little company.

wise words there triple C......

https://shafaq.com/en/Kurdistan/Kurdistan-MoH-warns-of-the-rapid-spread-of-COVID-19-s-new-variant
....... monitor via basnews also.
Increased spread of new variants predicted - procuring mass vaccines and providing additional hospital care will need to be financed.

President Barzani informs that the region is experiencing a deluge in Covid driven hospital cases - which could be translated into a warning shot that our monthly payments will soon be required to fund this ‘unexpected’ expense.
The Big Boys in the market understand this - hence our ourcollapsing SP.
QED.

Budget agreed ! ....... yeh, right - and camels bearing wages for the workers will be seen flying over Erbil.
Agreement depends wholly on whether sufficient wiggleroom can be found in any traceability applied by Baghdad as to where and in whose pockets any budget funds actually end up.
Same old, same old.

Interesting scenario if the KRG are indeed buying themselves back into Shaikan. But why ?
I seem to remember a comment from a informed source several years ago that «Shaikan was a large enough asset to underwrite the creation of an independent state» .... or words to that effect.

Would explain the skullduggery around the size of the asset, the ‘silence of the Jons’ .... and why the other major players are holding on through thick and thin like limpets to this hugely under developed, down played, lost in the desert asset.
Maybe the peoples of Kurdistan and the long suffering small investors around here will eventually get a fair deal out of this mess - but I somehow doubt it.

! 2p - wow that brings things sharply back into context and reality indeed Opu.
Were we duped and misled into believing that GKP was ever worth more than this ?

Someone please remind The New Jon about the outstanding (and augmenting) interest payments on the outstanding unpaid bills.

T’man - redress in this case would hopefully result in both identifying where the monies went, when, and to whom.
I recall that Hawarami was paid around $90k pa as head of the MNR - but his wife was (unfortunately) caught trying to expatriate a sum of around $130m via a bank based in Turkey - she publicly admitted the crime (to avoid breakfasting on porridge for prrsumeably a long, long time) and el presidenti Barzani immediately removed her husband from his high profile position as head of the mighty MNR.
One imagines that pilferring on this scale must run far and deep to allow it to prosper and continue .......

MNR head tribals (and above) have learned that they can manipulate the payments to the unfortunate IOCs who are only guilty of investing in their (questionably legal) region by producing and handing over hydrocarbons for (questionably legal) sale on the open market.
Convenient excuses have lined up to promoted this - Costs of fighting and defeating the fearsome IS (Uncle Sam did it for them foc), absorbing millions of refugees (has their lives improved under Kurd generosity ?), rebuilding the (still broken) infrastrucure, underwriting the formation of the Kurdish nation (against the will of the majority of the popularion), and the latest non-payments escape clause - saving the nation from C19.
Nope, None of the above - the only logical agenda can be that of massive and unrestrained pilferring to secure further dazzelingly impressive personal gains.

Our only defence against this would be in closing our collective export valves - until our sole customer is forced to follow the terms of the PSCs..
Unfortunately said PSCs would be withdrawn for not fullfilling the terms of the contracts of course.

Rocks and Hard Places then....

The MNR receive their payments for oil sales up front.
Wonder where these monies go to ?
Not to the peoples of the Region, grudgingly and eventually a small proportion goes to the Oil Companies who donate the goods as per the terms of the PSC.
Wonder then where the residue of the sales end up ?
Are we being taken for mugs ?

What does it say in the contract about compound interest on debt one wonders ?
Does it only apply if we owe the MNR ?
Whatever the rate is - it should amount to a tidy sum on $74m over 3 years (or more like sometime never).
Perhaps I get it wrong as usual - Is GKP a legally registered charity in Kurdistan (or anywhere in the know universe) ?

Could you clarify the last sentence in your article please B’dog ?

Budget agreement !
Haven’t we been here several times before ?
The only way this will ever be agreed is if a means of continuing pilferring has been found (or has been manipulated into the contract).
Otherwise, it will fall to pieces yet again, and the rulling famillies fabulous wealths will continue to augment - as per their birthrights.
Can anyone on here see a way out of this disaster - short of civil war ?

Wonder if newby JH has caught on to the fact that from the MNR’s standpoint - their $73m paper debt to us is null and void because we have double that of (their) money in our bank account, and we infidels don’t even know what to do with it !
He obviously has yet to learn the ‘me me me’ mindset of his new masters.

Best then to remove the object of their annoyance:
1) pay off our longterm loan
2) distribute the residue as dividends to the shareholders

...... or the MNR supremoes will continue to be seriously uncooperative and p*ssed off at us.

Borrow to underwrite the eternally delayed breakout to 55kbbbls/d - if and when funds are ever needed.

PUSHUP is patently under contract to detach us from our GKP tickets....... we’ve weathered many such clones over the years - he/she will evaporate like snow in Summer as soon as the quota (or the hire) is exhausted.
Meanwhile - take it as a positive sign that such tactics are being instigated.

A must see independent report on where the revenues from Iraq’s massive oil sales end up (just confirmation, so nothing new - but the level of pilferring is quite impressive)
https://www.youtube.com/channel/UCNye-wNBqNL5ZzHSJj3l8Bg.

If the fabulously wealthy tinpots think that the IMF will send them a further contribution of a further $6 Billion to again divvi up amongst themselves - then how niave are they ?
We’ll never get out of this mess until Biden bangs tribal heads together - and the country’s daily finances and the Billions in personal wealths are returned to an externally accountable Committee to manage on behalf of the general population - perhaps Joe could persuade Donald J to head up the Committee ?
Maybe this will also help the unfortunate foreign companies who have been conned into investing in Iraq and appear to be hoodwinked daily.

The background pilferring on a significant portion of the $22 / bbl value reduction and a chunk of that transportation fee paid to Turkey - must be eyewatering.
Underwriting the $73m debt would be petty cash for several of our Masters I suspect.

Must be Cashtie’s can of worms indeed - he was swiftly removed from the MNR supremo job shortly after this case was openend.
Wonder if his mate (the UK’s jab Minister Hawhaw no less) will be dragged in by association - as it was he whom Cashtie implanted into GKP (at a hideous fee and zero tangible benefit to us) except to ensure that the originally enthusiastic and communicative JF was brought sharply into line.
What goes around, comes around.

Have attended meetings with both Bijan M-R and Lars Takla ...... sharp cookies indeed, and B has the correct pedigree to be accepted in the M-East theater.
These guys are on-the-ball, and I have no concerns about my DNO holding.
Wish I could get to that level of complacency with GKP and it’s incommunicado BoD.