Member Info for Invstrat

Using company capital to buyback rather than invest in upping production is a bit naff.
Two reasonable why they are doing it are 1) they don't know how to run/grow an oil company, 2) buyback shares are going straight into treasury for later distribution ti the BOD in bonuses.
They will not benefit the shareholders unless they are cancelled (and I bet that will NEVER Happen here).
I sincerely hope we all understand the game that is being played around us here ?

Very sound conclusion there FH1 - you may well have hit the nail squarely on the head.
What's your take on Why Putin is in Saudi today please ?
Wouldn't it be a dream scene if (for example) CNOC and EXXON are at this moment slogging it out over who gets title to Shaikan's PSC ? ;)

Neptune has splashed out and picked up Edison (North sea assets) seemingly.
Can some of you numbercrunchers check out the offset value when compared to us please ?
I make it $23/bbl using our (fantasy) 2P reserves.
Guess we can expect at least 10% of that dizzey saleprice due to political risks and the usual corruption deductions.
North Sea lifting costs run in the upper $20's, we are down at $3/bbl.
Wonder if we can draw any conclusions as to what Jon should ask for our meager business ?

We had to Return AB to the MNR because we couldn't afford to develop it accodfing to the PSC timetable because the MNR were not paying us fully for the monthly invoices as they claimed they need funding to fight IS and provide for 1.8M refugees (and I am still doubtfull if the full monies which didn't get to us ever got to these two causes), and yes - to add insult to injury we had the privelidge to pay our debtor $10M to hand it back !
Wonder where that Money went to ?

So Stray - here's a fantasy scenario to ponder: the BOD know better than most the true value of what's in and under Shaikan.
Why not use the company's cash and borrowings to buy back all shares (rather than using it to increase production).
Hold them in Treasury and when the output is sold off for a megabagger, award these shares to themselves ?
Neat, huh ?
Would it be legal ?
Why would the current holders (including us private speculators) ever be seduced into selling out at the current tragic value.
Why else stick a company you are entrusted to professionally manage with unused and unnecessary borrowings, then fail to reinvest them to grow the business.
Why keep stalling on promises to increase production ?
The clue to this will be a continiung and ramping up of the buyback smokescreen (these shares will never be cancelled of course).
Then again maybe we are borrowing because we are lining up to buy CNOC or the like.

Synical - but at least based on factual numbers Angie.

Becoming concerned that the BoD are spending oir company's working capital to buy back shares to 'hold in treasury' - the only plausible reason for this is presumably to divvy up among themselves as bonuses for 'a job well done' at sellout.
Perhaps a more prudent management of a public company would choose to pay off debt, cancel the buybacks to increase value of the shares in circulation, or even (and this is perhaps a wayout idea) reinvest the capital to increase the growth and hence value of the business they are intrusted to manage on our behalf ???
Will be interesting to see how they pull this off, and ultimately to whose benefit.

ANG & SS you guys may have it about right there.
Chinese would offer to rebuild Iraq in swap for securing a supply of long term cheap oil.
Does that mean that they would be into purchasing GKP,Genel,DNO and the rulers would smooth the deals and favourable revisions to the PSCs through ?
A win win win scenario ?
This may well come up Trumps for us at last.

This is GKP, one must remember. Don't waste any more time on the buyback shares dividend calculation:
They are already earmarked to BoD members, they won't be missing out on their hard-earned dividends on their self-awarded windfall shares - so they have and will receive full dividends going forward.
These share were never going to be cancelled to proprtionally increase the value of the shares we all hold.
This is GKP.
Nothing more to say.

Here is a list of my concerns around how our company is being managed so far:
1) Brought us to the brink of closure and subsequent handover of our assets to the bond holders - when the underlying reason was default in payments from our sole customer (who's officials appear to have redirected revenues from the sale of our 'free oil' donations). Lets watch carefully how the courts in London expose what really went on, and if our BoD were aware of it.
2) Broken promise to keep shareholders in a public company better informed.
3) Signing up a non-compliant drill rig - which subsequently had to be pulled off duties, causing delays and missed deadlines.
4) Wrongly specifying ESPs and incurring further delays in increasing production and subsequently compounding the effects of missed deadlines.
5) Unexplained Arithmetic errors around divident calculations leading to serious doubts creeping in as to where the buyback shares will resurface - and in who's hands.

I'm sure there are solid and substantive management decisions behind each of the above concerns- but in an environment of non-disclosure and a continuing arrogant disregard for informing the company's sharehoders - one is left to assume the worst.

So is Voleon a share buyer or a company buyer ?
I am beginning to believe we are sold: just awaiting favourable (or at least neutral) new PSC to be rolled out, Erbil to be brought into reality under Baghdad, pipeline to be baptised, Donald to neuk the loonies in Iran, prosecution and retrieval of missing revenues vie London courts ....... come to think of it - maybe a while to wait yet.

Silly boys - if they really knew what they were doing, would have waited a day and saved 12p ps.
Does ' held in treasury' actually mean that the management are using our company's working capital (which they patently haven't a clue how to use technically to our firm's benefit) to feather their own nests at sellout time.
Like taking candy from us babbies.

You the same guy as Broadford Bay over on ADVFN ? - or is someone Muck'ing around in Skye and will end up with Eigg on their face ? Canna understand why.

Who selected a duff rig then ?
From today's 6 monthly:
"ahead of the drilling of SH-12, a number of necessary upgrades had to be made to the drilling rig in order to ensure it met appropriate standards, safety requirements and had the proper certification; these upgrades delayed spud by three months".
Who pays for that bad selection and subsequent delay to our program ?
Bonuses all round to the BoD for another monumental screwup - not any of our business of course, but I think we irrelevant holders of shares here would like an explanation please ?

3600p / share SS & ttb: let's keep our feet on terra-firma now guys.
We will not be allowed to share in the big game as we will have no idea how it was really played out.
Fantasy numbers got me involed here - but the dawn has come with a cold, stark light.
Ten or fifteen baggers are just NOT allowed to happen to pi's in the real world.
KRG, Baghdad, our own BoD, the phantom buyer(s) and the Bond holder's whizz-kids conspire to keep the carve-up well within their sphere.
I don't know how it will / or has already been divvied up to ensure their mutual massive returns - but that's how it will pan-out, I fear.
My MBA didn't stretch to case studies in the final points of how the markets and investment gurus really operate - but miracles for the lowly PI's just arnen't allowed.
Iat best hope for a token 10% on current sp as our pre-allocated allowance at sell-up time.
Can some of you bright guys run us through how the Big Boys will engineer this ?

Barzanis may find themselves facing a lynching mob for acquiring denying the honest Kurds a life while feathering their nests under the pretekst of winning independence for their adoring countrymen.
Meanwhile UK courts and ex wife strip the ex-MNR chief of his cut of the "IS fighting fund" smokescreen?
Just need Sami and Jon to come clean when called to court and admit to the pressures and threats they were under to shut-up, obey and tow the tribal line during the reign of the getrichkwik brigade.
If only Trump understood things here and diverted his funds earmatked for the purchase of Greenland into removing the crooks from Kurdistan and thwarting Russian influence at source.
C'mon Donald - empower Exxon etc to pay the peoples of Kurdistan a fair price for their oil and Putin and the Iranians will be putout at a stroke.

Woops - a zero too far there - 50k Not 500k as that would be irresponsible !

Flied Lice over on ADVFN is at it again I read. Some of his Dynasty seem to be agreeing but of course maybe he is talking to himselves.
Opinion appears to be that his mates in The Old Country seem to have us already wrapped up lile a Sling Roll.
Trouble is I am tending to believing as it would explain a bundle of happenings and also non- happenings around GKP recently, as I'm at a loss to come up with a convincing alternative.
Political climate seems to be stabilising, crooks and nannies are weeded out and brought to task by the wise bewigged ones in London, massive publicity when that show opens will eradicate much of the shenanigans and we may even get some long overdue payments settled.
We have a legal genious on the board twiddeling her thumbs up until now so maybe she'll come into her own around town looking after our ass and earning her retention.
Convinced myself to the extent that I may whack in 500k as a final play early next week.
You'll notice if I keep my word.
Trust we had not been sold down the Yanktzie by our onolable BoD and that the price is Very Right.

Guess yer latest theory just abouts hits the nail on the head there angie.
Keep taking the pills and hang around here to come up with more of yer looney theories.
A brocken clock tells the right time twice a day and maybe you just did.

Usual pre-payment drop I see.
No sweat, It'll be up post payment as usual too.
Time these right and you can compound the regular as clockwork 5% change 12 times a year "like what I does" !
Elementary dear Whatson ;)

What's all this vapour about papers on the wall ?
This is a redneck industry, and experience is the ticket you want.

Fistfull of first degrees in Fahrenheit and Centigrade plus an MBA and Dr.Phil in injunearin' were no protection from going into this kahunas deep and loosing the sock.
Greed, and a smidgeon of industry inside gleaned from the writings in here add up to a hard master.
As I said, experience dear boy, experience, and this hard learned lesson in getting involved with tribals sitting on rumoured canyons of the wrong type of oil is one experience I won't be repeating .