Member Info for Invstrat

This will never be resolved until a cast iron means of continuing the pilferring has been found and reaches agreement by both Baghdad and Erbil.
It is nothing to do with Erbil’s fantasy concerns about paying or feeding or medial care for the population, or repairing the infrastructure or funding IS or iradicating Covid-19 etc.
Can we Help ?
How about tweaking the metering, T-offs from the main export pipeline to private storage/refineries, watering down the oil at source, levvying a toll for each fiefdom the pipeline passes through (or even near to)........ come on guys, be inventive and help them over this major sticking point - or we will continue to be the losers, yet again.

This tiresome Erbil>Villas in Hollywood, prime properties in London and the banks of the Thames indeed.
Meanwhile - stop paying these impotent, toothless little oil companies and use Covid as the latest excuse while the wrangling continues with Baghdad.
Easy, aint it ;)

Was that $30M April oil revenue AFTER his Familly took their cut ?

Yup Fortune - it indeed appears to be THAT easy to fool most of the people all of the time.
Wonder if the authorities are monitoring this little scam, and when the hammer comes down - before the reputation of the greater LSE is severely tarnished ?
Wonder also when the Barzani Familly Executive Jets take off on a one way trip into the welcoming arms of The Donald, and a splendid Billionaire lifestile in exile among The Stars ??

Oh dear - and his Familly were caught out a few weeks back transferring a cool $6Billion from ONE of their companies to a safe haven (ie OUT of the country which they appear to rule over !).
Maybe payback a small proportion of the Familly wealth which was ‘acquired’’ from rulling the country for and on behalf of the population and fix the problem with one grandiose signature ?
Alternatively - why not just instruct your MNR to sting these pesky little Western oil companies yet again as some of their management are reputedly paying themselves $Millions for doing nothing.

Absolutely - he has a big future in Used PPE sales.

Seems wwwaaayyyy too optimistic an income there h1970, but pray you are correct.
Meanwhile - back on planet Earth - we are only seen to be worth what we hold in the piggy bank.
The Market doesn’t like something about GKP - probably the mix of dictatorial politics, indemic rotten to the core corruption, internal profiteering, the millionaires achieving nothing on the BoD....... whatever, they just know we stink from the inside, and no surprise that today’s RNS resulted in the usual Lead Zeppelin SP response..

Why in the name of rationality would JF et co. pay off the 10% debt (probably a mate’s company - who is basking in their good fortune at earning such a markup), when the spare cash can/has been spent much more sensibly in buying back shares to hold on the books ready to finanse the Next round of performance awards to self ?
Heads need to roll around here and a full enqiry initiated info BoD troughing.

If I recall correctly:
The bonanza payouts to JF & his under-achieving cohorts were awarded by the grateful bond holders (who automatically became majority holders) after he signed us over to them, and he saw his opportunity to set up himself & team up for fabulous future bonuses - INDEPENDENT of whether his team performed, or failed ( which of course they have repeatedly been unable to do ).
It’s the ultimate example of a win-win scenario, which fell into his lap.
Well Done then JF - this industry, these stockholders and the LSE have long memories however.
As years pass and nothing gets achieved - the Majority Holders are seeing nothing out of GKP currently - so how much more of this disaster will they swallow before they go after Board Blood ?
What about the expiry date on Sami’s slice of the pie ? - how will that be avoided ?
Watch and learn......

Can only agree with your summary h1970 - why in the name of Allah was the bean counter new kid on the block given such hideous wealth in the form of the first (of no doubt many) bonuses for doing....... well, nothing ?
How do we initiate a very public enquiry into this company which exists solely to reward the management for continued failure to perform ?

Sorry Proff, but it’s actually 0.7p in old money - isn’t this unbelievable ?

Lets hope that that the rape of Kurdistan by those in a position of power is indeed open and will soon be over then SS.
Didn’t the Barzani boys recently suffer the embarassment of some $6 Billion of their hard earned loot from one of their many companys being detected as it was being transferred out of the region to a safer Home ?
Wonder where that tidy some came from - and to whom it Really belongs ?
Fortunately the Barzani boys have wisely invested in superstar erstates in the USA, and all new Barzani babies are born there. Maybe they have The Donald as their sponser ?
There must be script for a film in this - but nobody would believe it !

Divide and conquer is a proven policy, guess we could incorporate the mushroom management approach too now.
The whole problem around this tiresome, ongoing oil revenues/wrong type of biscuits saga is very simple: as the proposed agreement stands - it denies the tribals in Kurdistan from their right to receive a cut of the production/sales (remember the redirected road tankers scam).
Fiscal metering from wellhead to central sales via Baghdad to the buyer’s metering at export will remove the facility to fudge the figurers.
Until the ruling tribals have a watertight means of guaranteing their cut under any new agreement - this squabble will continue, and we and the general population will be the losers via missed, delayed, reduced..... payments again.
Its as simple as that.
Where do you think the massive private wealth of the rulling families and those in positions of power/knowledge/secrets come from - date farming ?

Agreed B911 - but they fear not Impotent Western courts.
Cashti was supposed to be taken up to face the London Courts re his birthright to procuring serious wealth after his ex-wife blew the gaff on him using her name as a vehicle in transferring a few million in loose change, reputedly to stem from his cut in some MNR dealings, via some Turkish bank - but he would potentially draw the Billionaire Bar-z regime into the witness box - and they are wealthier than most countries, so the bewigged fuddie-duddies would be dealing with people who operate in another dimension of corruption, under self written laws.
I think old man Bar-z had her banged up for her stupidity and disloyalty to his regime - but don’t know if she is still doing porridge (or is it bean-curd) in some Erbil dungeon.
Best not to mess with them then, and JF wouldn’t dare.

I don’t think they have any moral obligation to refund our $400M, no court would be able to enforce it anyway, and the signing fee around any potential sale of GKP would be eyewatering.
We appear to be in a stranglehold.

Hoping and praying that Genel or DNO buy us out of this misery - and we’ll be under professional oil industry savvy management at least.
IOCs don’t want involved in this arena it appears - due to the infectious corruption and their unwillingness to play along - risking their ethics, consciences, careers and the reputation of the companies they are charged to manage on behalf of and to the benefit the shareholders.

Quite worrying that reputable investors like JPMorgan are involved in this now dubious concern.

What a good idea z - may not be accurate as too many variables ...... but should give a ballpark yardstick figure. Genel a valid starting point ?

I think the disastrous company performance and associated SP can be laid fairly and squarely in front of the management trough.
Technical members do not even yet appear to be capable of understanding this middle-aged reservoir.
Fear and/or over-compliance with the whims of the MNR must be directed at senior management.
The most vigorous and successful committee within GKP must be awarded to the salaries and remunerations team - who have been stellar in achieving their remit, on time and in excess.

My underlying mystery remains - why are the major holders standing for this incompetence ?
So - JF is pondering retrial seemingly ......... should allow him plenty of time to ponder (in obscene luxury - villa in Tuscany maybe ?) just what he has achieved for us around here then.
A career touring the World’s Business Schools lecturing on ‘how to turn professional failure into obscene personal wealth’ would be a fitting title for the seminars, and could even be a nice little earner.

Definitely part of the blockage to sell GKP SS, but the shocking payments record GKP has been subject to and has accepted without shutting off the export valves - is way beyond my experiences. I have only worked for majors, and we had no problems securing payments as far as I recall - even in smaller countries, maybe size indeed counts ?
Let’s see how things develop.
Meanwhile, we appear to be vectoring towards a halfpenny a share again.

Slightly deeper problem here SS is that this particular host region is not paying/under paying/delaying payment/running up long term interest free debt/redirecting oil to market for the benefits of private ruling familly’s accounts (maybe still continuing, for all you and I know) to the detriment of we investors in GKP.
This particular problems is beyond the usual corruption practices in the many oil countries I have worked and lived in - which you refer my research to.
Hence the particular aversion which INOCs appear to hold around investing deeper in here.
Nothing like first hand experiences to trump desk-bound “research” - eh ;)