Member Info for Invstrat

Relax h1970- it's the BoD's self-imposed "handling fee" for Considering doing something relevant and meaningfull for us. Wait until their fee for Actualy doing it is included - then your eyes will be watering.

Woops - that should have been $5Million a year extra per $1 on poo !

That's $5B per year extra income ! Hmmm - Wonder what plans our hallowed BoD have to fritter that away....... ? We need Action and progress info on : pipeline spur, new wells, enhanced production from exisiting wells, recovery of the $600M owed from MNR, who is looking at us for takeover.

appeared on gkp.iii last evening around Kurd/MNR selling Iraqi oil illegally. SULAIMANI � The Iraqi Federal Supreme Court postponed hearings on a lawsuit against the Kurdistan Region�s oil exports to international markets to June 3 at the request of the Kurdish Premier�s attorney. Baghdad may press for repayment of the ill gotten gains. Hope they go after the Kurd billionaires who benefitted and not the innocent little IOCs who were brow-beaten into supplying the stuff at cut price (and most of it on IOUs). Does this imply that we will get that $600M debt run up by the MNR settled by Baghdad ?

In these small oil companies - directors should ONLY be paid in shares for their phantom bonuses. They already vote themselves into fabulous salaries. DNO will sort them out in due course......

Here we are - dead in the water while our mates steam onwards & upwards. Need a new Captain who knows the ropes and can read the charts to get us out of the Doldrums (and ideally, we need to be sailing under a new flag too ).

Well Taff - sounds like you are relatively local to the seat of power (unlike some of us who are banished to far-flung outposts overseas). So can we assume that your enthusiasm for action can be channeled into arranging/attending at the GKP office for a head-to-head ? Over to you old chap..........

This whole sorry saga warrants an official investigation/explanation. I am particulary suspicious of these two totally unjustifiable bonus/staff retention schemes which the BoD were offered and had approved straight after the 100:1 dilution. What was that slap-in-the-face to the PIs all about ? What had the BoD just agreed to to justify these ridiculous bonuses ? Join the dots guys - this isn't too difficult to see through. We need to get the Press involved in an investigation/exposure - juicy stuff for some thrusting young investigative journalists indeed. Any of you UK based guys have contacts to set our ball rolling ?

Now that's a very interesting approach Gasgrab. Jon at least has to explain why he destroyed us by 100:1 rather than take his masters/debtors in the MNR to court - and what he intends to do to make reparation.

Exactly my sentiment and source of my ongoing grumpiness FH1: $620M + compound interest back over 3 yrs is a tidy debt owed to a small, struggling UK company operating in a lawless, tribal environment. Just why JF didn't use it to fend off the 100:1 wipeout remains a serious point which he has to come clean on: Was it his fear of the allmighty MNR & it's associated mafia (their bid for a breakaway state certainly turned that into a damp squib to our costs !) Was it wise counsel from the implanted MP (as if !) Was it a simple ploy to wipe out us lowly PI's in favour of the BHs (or those who stand behind them in the shadows ?). It will all have to come out in the wash (and heads will surely roll for a BoD making unsound deals with the devil when a perfectly functioning UK legal system would probably have protected the shareholders) - or heads will have to roll if it doesn't. Whatever.

..... and how will the books look when the MNR get round to paying us that $680Mill (plus compound interest) back over the years to 2014) which they currently owe us ? Some interesting meetings and SP developments ahead then. Why did we do the 100:1 wipeout deal with the Bond Holders with that amount of debt owed to us ? Are our debtors and those behind the BHs the same entity ??

Yeh Taff - GKP will start paying us quarterly dividends any day now.....

Hi Waffen, .... so you have 4,200 'original' shares now ? Plus - did you get your full allocation at the open Offer ? If so, you got another 9,333 shares (I think), so you now have 13533 shares. I tried to lay out the calculations 21:00 Friday under "Conundrum" as it's all a bit unclear and open to several .

This is subsea shale based oil - land shale costs at best $40/bbl to extract. Think in excess of twice that for subsea shale, plus massive offshore infrastructures. GKP sits on several Billion recoverable bbls (ostensibly kept under wraps for political gains) of onshore, vertical wells - next to export pipelines at sub $3/bbl. Don't go do the math - just do the arithmetic in yer head to understand why we are sitting on a potential multi-bagger.

2700 "old" shares before dilution and you get your full 20 for 9 in the offer: A) These become 27 shares after the 100:1 dilution, but you get 20 new shares for every 9 old -> 3*20=60 + the original 27 diluted ones = 87 shares. OR B) 2700 old shares but you get 20 new for every 9 old -> 300*20= 6000 + your original 2700= 8700 ..... But these are now diluted at 100:1 leaving you 87 shares. OR C) Your 2700 old shares are REPLACED at 20 for 9 giving 300*20=6000 then diluted at 100:1 leaving you 60 shares. Any other permutations on the above ? What's the correct answer ??

NoR on .iii today 11:30 appears to confirm that the mighty Shaikan does appear to hold at least 13.265Bbbls, when all strata are included. Also that GKP appear to have been a bit tardy on developing it's true potential. All good news was presumably being kept under wraps to help the (stillborn) Kurd breakaway from Baghdad - that of course failed..... so time to come clean with the market, and pull out the stops Jon.

Key to a credible valuation would have to begin with a definitive on just what the mighty Shaikan holds. As I understand things - it is in several stratas, and we only produce from/can quantify the current strata. The last CPR evaluation which Jon initiated back in 2015 was only on the current strata - hence the depressingly low values. An exploratory well to better define the other stratas would be iluminating - if any results already exist, I suspect they have been conveniently kept under wraps for Kurdish political reasons. The original figure of 13Bbbls must have come from something tangible - or he who was running the company at that time was telling porkies (to pay for a divorce, or the likes) - in which case he should be brought to trail for his gross sins. All academic of course - if Trump The Tweet gets us into WW3 later today - centered around the ME Region.

But WHAT exactly do the KRG owe us (and where did these monies go) ?? Not transparant on today's reports in any way. Maybe Sami & Jon have just decided to let them off the hook on this minor debt (plus it's rapidly accumulating compound interest). What a way to run a business.

the camel in the room ? - that MASSIVE debt owed to us by the MNR ? No mention of it as far as I can see - did it ever exist ? Has it been swept under the rug ? I recall that it was of the order of $400M at one point, and that a trade-off was rumoured to be have been made which gave us an additional 7% (?) of Shaikan. Nice to see that the VCP and SRP are alive and well (no doubt to be soon revised/increased), and that the MP will still be entitled to pick up a lump of it for his valuable services rendered. Production cost of couple of quid/bbl, and even the most pessimistic massive remaining volume within Shakan - must make us an attractive and viable target for takeover ? Come on in China, this is a snip. Expecting Big Things soon from GKP then........

in next door then - not out of the question they may take us out of our misery ? Coup for Putin's team to take out a UK oilie for pennies with full backing of the dubious MNR via a stealth deal - just to p*zz-off any lurking US or UK suitors. JF et co. have clearly learned that silence gets you off with anything in this geo. Must be so tempting to set up a sell-off at fire sale price over a vodka as nobody objected to these brazenly cheeky bonus schemes established to make them multi-millionaires after the 100:1 dillution, mustn't it ? Like taking candy off a babushka ;)