Member Info for Invstrat

Maxi - probably that barren GKP infrastructure will be acquired, for a token fire sale sum of course, by the Barzani boys and Cashti.
Nothing would surprise me here.
At Least Tadd's wife got her multimillion dollar settlement - thanks to her ex's manipulation, and of course we have contributed to making several of the BoD millionaires too.
No wonder Sami escaped before the shutters came down.

Know how it feels Maxi - my approach is a bit brutal now as I need to be able to sleep: don't buy until the SP is underwritten by cash at bank + invoices due.

Heading back to 1p old money then - hope I'm dreaming all this.
If this management don't announce further empty promises/dates at the upcoming meeting to improve this - heads may roll and the production license could be under review.
A dangerous situation to have put us all into.
A massive dividend declaration will appease the majors temporarily, but the MNR have committed to the daily contributions to Baghdad I assume, and will want a step change in production to compensate for this and the compounding effect from the free-fall PoO to balance their books.
What's to become of us ?

Opu - we all need to grasp the hard and ruthless fact that GKP produces and is forced to sell to a sole customer (SOMO) for a small % markup - in a land deliciously rife with corruption at all levels.
Just witness today's news leak re Russia slipping a Kurd 'consultant' (i.e. a tribal in a position of power) $250M to get things done.
So why on earth would China Oil Inc. pay billions for GKP to turn a buck via a short term right to access the mighty Shaikan's resources - which then must go directly onto the International market via SOMO and would have to be bought back at market prices to satiate China's post Corona virus expansions ?
I witnessed how China Inc. operated in Angola, the deal to secure Kurd oil will be similar here I guarantee:.
China will secure oil at preferential prices from SOMO by bartering technology,materials, labour (they flooded Angola with homeland criminals at zero labour cost to Xi) - doing the sweaty work rebuilding the roads,rails,dams, infrastructure, hotels and business parks to secure the tribal's ongoing approvals).
Neat, huh - a perfect win/win (except for the convicts).
Why therefore get involved with buying a troublesome little oil company - when a low cost offset a-la Angola bartering model gets the product at a preferential price anyway ?
Wait and see.
This is not BP operating in Persia at the turn of the century - finding and producing the stuff at a 99% markup in return for an occasional Rolls-Royce tomthe Shah, and a handful of colored beads to the tribal's.
JF was not joking when he concluded that GKP would have to be turned into a 'boring little oil company'.
Draw parallels here as to why DNO and Genel are also going nowhere fast.
Relish the promise of excellent dividends and the buyback strategy to use up the profits then (in the wild hope that the treasury shares get cancelled of course !).
If 90% of shares get bought back and cancelled, we may see a share price in the teens eventually.

May be overwhelming demand for the vaccine - so the luxury of a year's testing may be waived ?
Although - some of us remember thalidomide scandal, especially the drug companies.
Our world is about to radically change until this burns itself out - how will GKP survive when demand falls and Big Oil profits fall off a cliff ?

Yup weathervane - and that's exactly what is afoot here. If we make enough noise - they may be under (moral) pressure to cancel a few shares to appease us and the press - but the game plan is patently obvious.
I don't think the policy of using a company's cash to buy its own shares for future staff bonuses is fair.
Let's see if they make a declaration to award their treasury shares dividends come 26Mar presentation.
The late, over budget and eventual achievement of 55kbbls production will trigger the celebrations and awards.
Why will the major holders approve this - what's in it for them one wonders ?

We are indeed cheap Tom - must be a reason for that I guess ?
Hmm probably due to a basket of reasons - take your pick n'mix from: checkered company history, local corruption ongoing, non-achievement and revised of stated targets, poor comms from the company, doubts over reservoir contents and management team's ability to access them, Tesla, POO, senior staff working to MNR orders, political instability.......you name it - GKP suffers from it !
Observe that even DNO barely make any headway in Kurdistan - and they are managed by a savvy bunch of guys.
So why are we worth virtually only what we have in cash at bank plus the usual outstanding/delayed & late receivables ??

HI hi - think we are agreed on that.
The purpose of the buybacks is purely selfish, and nothing to do with us as annoying, but impotent and irrelevant PIs.
I'll make some predictions:
A) A further campaign will follow when this 25m scheme is filled.
B) It will be decided that the stagnant buyback shares WILL attract full dividends after all.
C) They care not a jot about paying off our current debt -why on earth should they ? - nothing in that for them after all.
D) There will be something in it for the major shareholders for allowing this travesty (and successive) campaigns to continue.

Hope I'm proven wildly wrong on any of the above.

Cancel their own buybacks shares ! I rather think not - they are using our company's working capital to build themselves a treasure chest for future 'awards & rewards" to celebrate continuing failure to grow are market the company we entrust to them.
If shareholders make sufficient noise on here - they may be forced to divert a few of the stagnant shares for cancellation - but it will be done very grudgingly, just to appease the press.
What a tragic waste of a company's lifeblood - diverted into what can only be interpreted as a ploy for private gain.
They really want to stop declaring fantasy targets and timetables which they neither meet, nor apparently - understand how to.

What an obscene salary for failing to achieve any of the targets you set for this company every day you have turned up at work for the past 5 years..
You should be ashamed of yourself - we are.

The non-productive share buyback campaign continues running like clockwork.
Nothing in it for the company's shareholders of course - but even further rewards beyond wildest dreams for our BoD.
Pay off the LT loan, pre-invest in area 3 plant, how about a bumper dividend, or hire some oilfield professionals.
Perhaps none of these are consistent with "company policy" ?

Lets be subtle MikeyT21 or Mikey(space)T21 also noticed BroadfordBay or Broadford(space)Bay
Who cares - most contributors are usually informative and a delight to read compared to the deaf, dumb and blind comms spewing out of GKP's RNS dept.
But then the tireless timely reporting of the on-schedule progress of the boards self rewarding Buyback stuff is really rubbing our faces in it (init) ?
Think I'll change my nomdeplume on here to WILL.I.AM just to spice the board up a bit.

Agreed ANGI the majority holders rubber stamp on the buy back affair is a real strange one.
What was in it for them and who sold the madcap idea to them ? Whole thing seems crazy unless JF is a better salesman than he appears to perform as manager at GKP.
A lot going on behind closed doors here.

So if Baghdad controls the show and the oil revenues and outgoing payments to the likes of us - will that lead to less chance of pilferrring by the local tribals ?

GKP management seem at a loss how to use the cash to develop this field.
Two drill rigs on station sounds good, but are they getting digits extracted around production area 3 ?
Sounds as if a higher authority runs this outfit. Buyback shares doing nothing for the share price - so what is really going on ?

Truely excellent progress on the Further Shares Buyback Project, and even copious RNS's to keep us fully informed of this win-win project on an almost daily basis.
Can we look forward to a Further, Further campaign when the current target is met in April ?
Congrats to all involved then - even I can promise that you will certainly be well rewarded.
Meanwhile - rumours circulating that well pressures are subsiding - despite ongoing de-bottelnecking & these new fangled SDHPs, PF3 remains a scrubland, the FDP is rapidly becoming an historical oilfield document, oh - and we have more gas than we know what to do with. Ten years of drilling & production (so we still don't understand the geology) - we could always bottle & sell the gas, eh ?
Trust these minor problems will be resolved soon with the same gusto and dilligence as displayed in accumulating a sterile pile of treasury shares.

Correct Angie. This share has me living in the past.
Anyone notice that a mention of PF3 status was conspicuously absent from the Pareto pages ?
How is the 250k/day agreement with Baghdad coming along ? - or are we back in that perpetual 'going absolutely nowhere fast 'loop ?

Correction - the buyback to troughing appears to be a whopping $50M !

So todays RNS regurgitates that the shareholders approved the use of $25M from the company's working piggybank to buy back shares for future internal award to staff did they !
Why in the name of Allah did they approve doing that ?
What on this earth would be in it for them ?
That money could have been used to keep the original FDP on schedule and we would be at 55kbbpd by now, or how about buying back a chunk of the 100M loan or......... anything but further troughing awards to the few holding limp strings.
Something reeks here and I wonder if some of you serious invesors and oil guys can join the dots and crack the mystery wide open ?

Pareto disclosures went down like a lead zeppelin then.
Is JF still obeying orders from the MNR gestapo ?
From memory, the original schedule to hit 55 then 75 etc has in fact been well blown.
The market's bigtime investors know full well that the share buyback is a sham - these tickets will be held in treasury collecting divis , then distributed among the internal team as sales bonuses.
So does that mean that we will be sold soon ?
What do we need to do to get back to the heady days of TK optimism and exponential share growth ?