Member Info for Invstrat

Small company with 2P reserves heading for 1Bbbls (think: Big fields Always get Bigger), production costs soon under $3/bbl (think: soon No Trucking), mounting cash balance to self-finance expansion plans with ease, now paying a dividen, token debt.
Outcome is falling SP and no sign of a buyer.

Numbers seem realistic but could be valued way higher if run on the last CPR from new drilling data.
50 percent of that 2340p would do nicely for starters.

Phew thats a relief scat. I was really worried that they may loose out at the vcp feeding trough.

Hey that explains a bunch of what went on and is still going on around here. Is it illegal ?
So they dont want us sold so they can keep coining from their own vcr deal. Did I read it lasts for ten yrs ?
Now that really p*sses me off. Some of you clever guys on here want to have another look at that scheme as it seems to the real controlliing document.

Just a thought - why would the VCP recipients EVER want to even admit to, court and negotiate upwards on any bids for the company when they are lined up for years of handouts from their own VCP pot ?
I wouldn't - if I were lucky enough to be them !

Dammit - all these superstar incomes for signing off on our 100:1 wipeout.
Should have been "incentivised" to hang around to do the jobs they are already being vastly overpaid for doing by awarding them in shares !
Hope they are courting more than one potential buyer or we'll be sold out again.

Your on the right track there TTB - I would also not be surprised if some prominent KRG/MNR dignitaries are behind the current big shareholders waiting in the shadows to make a serious windfall when the sale is announced.
Imagine if you had bought in at 10p knowing the real size of Shaikan and the long term strategy for GKP !

Yup - that wiped 99% off the investments for a lot of us back then.
We were offered the chance to buy 9 of the new shares for every 20 held at a reduced price (as their guilty conscience pacifier) !
The note holders rewarded the BoD liberal wealth generation schemes in the same brearh for hanging around after they approved the wipeout. All this when borrowing capital was cheap as cheese.
Several of them (no, all of them) - are now £Millionaires, with plenty more to come.......

Promises of mega news on the horizon and the SP still gets beaten down day on day. Who is selling at these dropping prices I wonder ?

Maybe a good time to buy into this at last now (but I've called it seriously wrongly before) !
Good Luck guys, the only way is up.

I can't believe that our BoD would be so silly h1970. They may well be guilty of being economical with what goes on in our company, but I sincerely believe that they try to do an honest job behind the scenes.
From memory the BoD were rewarded with this VCP by the bond holders' external consultants as a Thank You for signing off on the 100:1 wipeout of us PIs.
If they have now decided to make themselves dubiously wealthy for doing a job that they are aleady being paid superstar salaries for, without actually meeting the quotas - then this has to be challenged and independently confirmed.
Let's get facts right before calling in the Press......

If we are indeed sold :)
- shouldn't it have leaked by now ?

Re your excellent comment at 16:20 P1. So cash plus back debt and compound interest on it owed from the MNR equals today's SP.
Infers that the expensive infrastructure we have placed into Shaikan and these wild rumours that there is oil there with our name on aPSC are just that - worthless rumours.

Wad of mails from Thu 14:00 to today same time wiped off the face of the earth.
Now THAT's impressive !
Someone must have said something profound which the puppetmasters didn't like in the public domain.

What's up with it ? Last chat was Thu 14:02 !

Agreed TE - any SP in single digits just about values our infrastructure, as far as I reckon.
OIP is still not even considered in the SP (until it is allowed to be properly evaluated and honestly disclosed to the wider audience).

Looking at T21's calcs.
Based on his $8pb (where did that come from ?) makes Shaikan worth at Best

2P 622 + 2C 239 = 861,000,000 at $8 per barrel yields $6,888,000,000

So if SH has potential revenue of $6.9B to a prospective buyer then they would not pay that for the asset as they would have future costs associated with CAPEX,OPEX, and a profit to show on the operation over X? years.
GKP's 58% would be our share in the SP of a damned siight less than the $6.9B.

Remember it well - the poor woman was unfortunately exposed doing the household laundry. This took the heat off her man (he who puts the fear of Allah in JF) and as head of the MNR is surely above any hanky panky.
Came to nothing as anticipated or she could have blown the goings-on at the trough sky high.
He could have lent us to pay off the Capex his ministry owed us, which in turn would have avoid our decimation.
She does washing in their mansion in Henley-on-Thames which was procured around the time.
Nice to see justice at work.

Common industry saying that 'big fields tend to get bigger' - so let's hope SH follows the tend.

If it were my choice I would tend to dump some of the deadwoods off our massively inflated management team, and spend the considerable savings on a full and honest independent survey of our asset at this time.

Only guessing of course - but that might even boost the SP out of the doldrums (and into massive trouble with authorities).

Genel Energy plc

Taq Taq PSC reserves update

Genel Energy ('Genel' or 'the Company') announces that McDaniel and Associates ('McDaniel') has completed the competent person's report ('CPR') relating to the oil reserves at Taq Taq as at 31 December 2018.

Guess you have allread this.

Field performance in 2018, and notably the success of the TT-29w well drilled on the northern flank of the field, has led to an upwards technical revision of reserves, resulting in a 62% reserves replacement at the 1P level.
I think that means +62%

If GKP are indeed in ongoing sale negatioations, as some of us suspect, that would neatly explain why we don't need a similar SP boosting injection of good news.