Member Info for Invstrat

Hmmmm - wouldn’t should too loud about us actually making headway ....... or Jon & Jaap will be ordered by their MNR boss to hand over anything above our subsistence revenue to the tinpots.
Keep a low profile - until you slide off into your well earned retirals guys.

«Only the frail and elderly»
..... well that pretty well covers most of us LTHs who were obviously already suffering from dementia when we got seduced into this krapshoot.......Now where did I leave my zimmer frame ??

Your last sentence may well be the most prophetic ever writen on here Simon. Ever.

Shame we don’t really know what the true quantity of OIP is of course.
It must be massive or there would be more transparency around the subject.
I recall a comment from years ago «Shaikan holds enough hydrocarbons to kick-start a Nation (Barzanistan)» followed by a policy of understatement of the asset (presumably to take Baghdad’s eye off the prize ?
GKP has been an easy target for MNR manipulation due to our weak, scared and eternally invisible absentee BoD.
MNR don’t appear to control the powerfully managed DNO to the same extent.
Let’s see how they handle the mighty Chinese - if they indeed pick us up in a firesale.

Jury out on the big Dutch oilmanuntil he (eventually) breaks cover and does something tangible.
Hope he hasn’t taken example from his mate JF - and settled into comfortable attitude of ‘take the money, say nought and do even less’.
Slogan on the GKP coat of arms «you can’t sack me - I’ve done nothing»

Promises, promises....... anyone got a pinch of salt ?
I think we have heard all this before.
The driver to any agreement lasting long enough for the ink to dry is that there is sufficient scope and leeway in the official Numbers to allow pilferring to continue at the traditional levels - or we are back to the local tinpots instructing their MNR to squeeze us IOCs to make up the deficits - via the usual tactics of late/under payments/no payments/deferred payments/signing fees (just imagine what the signing fee due to tinpots would run to in the event that we are eventually sold ?), the creating non-consequential Jobs for the bretherin at exotic salaries .... er what about payment of these outstanding Debts ? (they obviously must have JF and,probably the Jaap guy, too terrified to even mentioned them) or something would have been done by our thrusting, dynamic management invisibles via Baghdad by now.

Is the Deal that JF gets to hang around to pocket his well-earned Christmas bonus ?
Wonder what he actually does (has been doing) to earn that superstar salary for the past 5 years ??
He could have: communicated, increased production substantially, marketted us, commissioned an independent (stealth) CPR outwith the MNR scrutiny/restrictions, negotiated a better GKP % share of production to claw back the mountain of debt he has let accumulate, sought Help to cure his fear of Cashti, grown a pair - and done the job he was hired to do.
Pick any of the above - and we probably wouldn’t be in this depth of a miss-management mess.
........ ? Wonder if Piers Morgan is available to step into JF’s shoes ?

Best not get too excited about this interim compliance around oil contributions in exchange for ICG signatures to access international loans to bail out Erbil yet again - as soon as the loot is in Kurd owned banks - it will all evaporate yet again:
The loot will forthwith be salted away among the usual suspects, interest payments for said loans will be defaulted, the long suffering Kurd population will see no benefits or salaries after a token subsistence payout for a few months, the Pesh will of course be well satiated to ensure their ongoing support....... and we will again be required to accept delayed, defaulted and short-changed payments to keep the scam running.

Wonder if the Financial geniuses at the IMF and the collective Gnomes in Zürich have caught on to the game yet ?
Rinse and repeat ........

Aura around Z baffles me to this day: his big mate Cashti is the genious geni behind his wealth (he was ordered into GKP on a ridiculous salary - plus well earned ad hoc bonuses - to ensure that JF obeyed every command from above to the letter), next mystery is why were/are the good peoples of S-on-A so niave - is it sssoooo easy to become a big cheese in your UK government ??? Are rumours of a pendling title for services to the country (sponsored by Boris presumably) true ?

No - not ‘where GKP they want to be’ ...... I fear that the MNR are fully in Control and we will, in due course, be handel over to their masters at a time and price which they will decide.
Just how we can avoid this does indeed keep one awake of a night.

Ah - secret is..... I don’t go to bed ;)

You have to accept Bugsy, that what the BoD do is really none of our business.
The whole region is saturated with mis-information and the mushroom principle of management.
Corruption runs into everything - the power we consume, the water supplied to our wellsites, local transportation (remember the days of road tankers - they all belonged to the Barzani Familly, and a designated portion were diverted off to a private refinery), no surprise that Erdogen’s boy gets a cut of the pipeline fiddle........
Lifting costs of 3 bucks getting systematically bumped up to 30+ at the behest of the local gravey train - so hardly surprising any and all potential bidders all back off.
What’s to become of us ?

Not so simple Simon´s timely purchase: remember, this is GKP - anyone in a position of power, knowledge or influence has carte blanche to do and reap undreamt of Profits from all and any of their dealings around this farcical Company.

Here we go again ........ how much do they want from our monthly underpaymenys to stop these attacks then ?

Oil kaputt in the post Trump/Covid era Maxi ?
Probably demand vastly reduced ....... Only low cost producers will survive (aren’t we circa $3/bbl at surface ?)
We must be worth more than the current charade to someone, somewhere ?

Paymemts usually mean Lead Zeppelin time for the SP...... the MNR must cringe every time they have to pay us some cash.

Agreed t’man - all info welcome as our absentee BoD don’t brother to tell us anything - outside the barebones basics they can get off with. Is there a chairman ? Why Even bother replacing JF ?
Can’t believe we are only worth what we have at bank - the scam oil in the fantasy oilfield is seemingly worthless, the plant and infrastructure we gave them and paid for is apparently worthless as a going concern, the corruption controlled PSC isn’t worth the invisible ink it was written with (doesn’t have long to run Anyway).
Surely an enterprising local consortium will take us over for zero investment - cancel all debts owed by their MNR and the work permits of the infidel workers, and close the gates....... and put us all out of this miserable scam ?

‘Piles of oil’..... but nobody wants it, unfortunately.
Let’s hope things change soon ‘though.

Measured and constructive responses there nuf’.
My losses are currently in another league from yours, but we live and learn - some gambles go up, some down. This game isn’t over - yet.
A few niggling points:
Reservoir content claims which sucked most of us sukkers into this are well documented, and therfore eminently prosecutable - if porkies have been uttered.
The fabulous awards to the BoD - which co-incided with the sellout, are very questionable - what was the hidden deal there ?
The Logic behind the brilliant buyback strategy .........?
What does management secretively do all day ?
The mounting debts from our sole customer have been allowed to continue beyond commercial belief - when they should have been negotiated always in return for a greater share of the PSC by any half-competent BoD years ago....... alternatively the BoD could have demanded a trip to Court, and the washing of some very dirty linen. Why didn’t they?
The BoD are obviously acting to benefit parties other than their shareholders.
And that leaves the eternal, destructive, birthright of those in power - the unbrideled priority behind all decisions being made in the pretext of running the country for the benefit of its population - that of personal corruption - which is the hallmark of doing Business in this part of the world.
Let’s wait and see how that pans out when the dung hits the cooling fans in Baghdad.
No wonder IOC’s won’t touch this travesty of a Business venture.

So here we are - Underwriting an invisible and NON-achieving management structure (pocketting totally disproportionate salaries and salivating over the prospects of further awards/bonuses/pensions) for just hanging around.
How about a positive move to reap advantage of the current market opportunities to secure drilling contracts, plant and hardware at rock bottom prices - then you will be geared up for your stillborn/rumoured/fantasy ? by utilising some of that sterile bank balance to strategically grow the business (which is languishing - awaiting local takeover- and all that cash must be annoying the hovering tinpots enormously).
Jaap obviously hasn’t fully thought through his dazzling management strategy around the buyback shares fiasco - you could consider proportioning them out to the longtermers who weathered the decimation slaughter.
Negotiste a revised PSC to claw back the MNR’s mounting payments and outstanding debts deficits.
Do something Jaap - do ANYTHING to give us the impression that you are still around and caring enough to do the job you have been charged to perform.