Member Info for Invstrat

Kindly correct me if I err: GKP found Sheikh Adi, but couldn't afford to develop it because the hallowed MNR weren't paying us, the MNR therefore took back SA - don't we have a case there for recompense of our exploration costs (or perhaps Jon just buckled on that missed opportunity as usual) ? Y'know, the more I think about this - the more I realise that his compliance to the orders from those who ran the MNR (which is now seen to be an empty shell, run by crooks for crooks - selling off Iraq's oil illegally over several years). Backed the wrong horse there Jon - whatyagonna do about it ? Guess you'll have the chance to explain all at the next AGM, won't ya ??

Object lesson for our reclusive Jon on how to manage a blossoming little Oil Company, and how to communicate with it's trusting shareholders: Just have a look at Youtube - COO interview - Bill Higgs Genel Energy: Malcy of Blogg fame conducted this very professionally, asked the right questions and prompted at exactly the right points. Higgs disclosed everything asked for - straight off the cuff, really on-the-ball with his business. Toweringly in control, I feel properly informed re my 6fig GENEL investment. Look and Learn Jon - this guy is neither afraid of his cornerstone investors nor the big frightening crooks in the MNR. Not a watchdog, overpaid, embarassment of an MP on his board. Hard to believe he only costs us Genel financiers a fraction of JF's idea of self worth ....... and he's way too professional to get involved in self-efacing phantom bonus awards for doing nought (or was it for Obeying Orders from the crooked ones). Bill is a guy to watch - hope to Allah Genel takes us out if DNO doesn't take a second bite at the floundering, secretive, miss- managed catastrophy that is GKP.

Keith of little words but BIG salary departs (but why ? - it was an effortless gravey train for the guy). A spy tells me he is extending/ renovating his country pile near Glasgow - so maybe he has made enough out of us to retire in luxurious Scots Baronial splendour ? ........Wonder if Jaap was from JF's old Maersk days contact. At least he has had the b@lls to uttera few words to us at his kick-off - before Hawarami has Jon muffle him. Who cares, its still a hugely undervalued asset........Powder Easter snow - off to break a leg.

I don't loose much sleep over this play: moving upwards and we even know what the forward plan is - what a difference having a professional BoD with a proactive and communicative MD running the show. Maybe they'll have another tilt at us soon and if they succeed we can all feel in safer hands ?

Hi Gyp - thanks to you and a handfull of others - I learn a bit more on here every day. We seem to have been the victims of a cunning ruse to lure in, manipulate, then p*ss off private investors..... Until they give up and are glad to leave the bad experience behind, after donating their original investment to The Good Cause. I think it may be interesting to find out who stand behind the Bond Holders, and who will ultimately benefit from the undoubted wealth lying under Shaikhan. Will be interesting to see how the clever guys pull this off, and walk away Scott free into the night with our savings.

Some interesting similar history coming out of this now guys ..... a huge knowledge base in these pages. I suspect we're being hoodwinked with the greatest of ease - while a select few are picking up unworldly returns. Abadi and the young Saudi Prince are at least making a positive effort to cut out the cancer which is making the Middle East an investment jokehouse.

Agreed DM - I too am very suspicious about the complete about-face of JF post Paris..... something went down around then which fundamentally changed the young guy's moral outlook from how I recall he behaved at Maersk, and his declared intentions kicking-off his big chance at GKP. Whether it was threat based, or incentive based - I know not....... but this is highly incestuous industry, we're a gossipy old bunch at heart, and things will out - sooner or later. The Bond types were always calling the shots - but who stands in their shadows ? Never a good idea to willfully get into illegal sales of national assets after clear warnings from a sovereign country.

One of our dilligent colleagues recently quoted the historic debt owed us by MNR (ie the ex-rulling Erbil mafia famillies) as $489M + compound at say 4% from c.3yrs back. (Trust Sami recalls this) We have a PSC on a reputed 13Bbbl reservoir - say at a conservative recoverable 5Bbbls at around $12/bbl less prod costs (sub $4) We have an infrastructure in place producing around 32mbbls/day yielding a net $12M/month An undisclosed sum around the Sheikh Adi handback mystery Around $200m in the bank An in-place BoD & Senior Mgmnt team of highly paid oil experts (OK, lets ignore that hidden asset) The biggest risk is the $489M - that money evaporated, probably into dynasty accounts, during the MNR's illegal oil sales era (and Baghdad may not be up for honouring that free-for-all unless a chunk can be clawed back by Abadi's investigators from Swizz accounts) ..... in lieu, we'll settle for an extra ?5% of Shaikhan then ? Have I ommitted anything else ? We must be worth something to someone willing to take a punt ?

Nope..... there isn't (compared to the depths we have been down to in the past) ! And things can happen fast in this game........ dammit, don't look now - but the SP has just taken another leap up towards 1.3p

That about summarizes the situation as I see it too Bcity.... nice to read a constructive contribution on here again. Lots of feather-rustling and slanging among the Big Oil Boy Investors on here recently, that I gave up reading their *contributions*. I think stabilisation of Iraqi politics and an honest disclosure of what Shaikhan holds - are the last missing pieces in the great GKP jigsaw, and of course we just need a professional BoD/Management team and a CEO who is not afraid of the MNR to take over, develop and market the asset in style.

could our hallowed BoD do with all this cash ? They have more than enough to ensure their bonuses now, so how about doing something positive for the company's future development. We'll soon have more in the bank than the company is worth on the market. How strange is that ? Have you ordered the long lead items to increase production and to tie-in/blent into the export pipeline ? How about some info Jon ? - it can only help justify your fabulous salaries and may even improve the SP (or will that be against orders) ? This is no way to run a progressive oil company which is sitting on massive resources and huge upside potential.

Thanks for the heads-up on that IC. Woops ........ there he's gone.

Y'know, if Honest Jon would just come clean or even communicate - we wouldn't be driven to dream up all these wild suppositions and theories in trying to explain the destruction of the company under his stalwart stewardship. Lets assume that he will soon then as you alude to Oi63. But the risk he runs is that this may multiple our SP overnight, and that may be against orders too. Who knows.

Correct Distr. Anyone pumping this would have given up eons ago, as it has repetitively proved itself to be a tragic commedy, riddled with corruption. JF was ordered to play us down soon after he took the job - onviously to help Barzistan break away from Baghdad in return for some promised carrot or other from the wannabe tinpot and his minions. Pity the ploy failed, and those dangling the carrot have all but evaporated, taking said carrot and all they could glean off our oil sales while they could. Can it be this simple ?

Wonder who would have had the authority to fire him ? - now that the watchdog MP has departed. Maybe, just maybe - he'll surprise us all with new wells program, pipeline tie-in spur, downhole ESPs, blending plant, coming clean about our politically downplayed resources, marketting us to IOCs, awarding his team with GKP shares, playing hardball over the overdue PSC.......... well we can dream.

The reservoir is obviously massive (no pressure decay since we started it flowing years ago is a dead giveaway). Realtime Info a few years back got me hooked and keeps me believing and involved. Playdown mystery was assumed by us little PIs to be Haw brow-beating a quivvering JS via Bar-Z: "don't let info re The Jewel out - or Baghd will NEVER let us break away" but these two bluffs have now been all but called. So - what is it that still keeps this under wraps ? If we knew that we would have the game sussed. Hope springs eternal.

Two good submissions H1970. Dropping in an ESP to a land based vertical well (assuming 3ph power is available) is a job for our junior engineers here. I can't imagine why this rather basic, inexpensive and uncomplicated oilfield equipment has not been bought and prep'ed - any "production monitoring or "signing the PSC" excuses are wearing a bit thin IMHO. Shaikhan is ssssooooo massive that the Moon influences its reservoir ffs ! "There's a lot of oil inside a 1km deep reservoir the area of the M25" Kathy's boss informed us in Paris all these stagnant years ago. The mystery and games continue. Bonus time anyone ?

Apart from the surprising statement that Iraq is OPEC's 2nd largest producer (and we are sitting on one of their largest - but apparently totally worthless and of no interest to anyone - elephants of a reservoir) - this leapt out at me: "Ankara still allows the KRG to market its own oil (roughly 300,000 bpd) at Ceyhan, claiming it cannot turn this flow over to SOMO unless Baghdad assumes the KRG's oil-related debts to Turkey". So, as i interpret this - unless Abadi underwrites the KRG's accumulated debt to Turkey - SOMO can forget getting their hands on the KRG oil currently exporting via Ceyhan. No wonder Abadi is pursuing the funds which went astray from the MNR's dealings. Maybe time to agree with our fellow IOCs in rthe area to cease production Jon - until the debt to us is cleared off too ?

Very true, so are most of us who were seduced by rumours of 13Bbbls of easily recoverable oil. But find solace in the fact that we did our duty and contributed to creating Billionaires of the Bar-z dynansty and several other accomplacies in the dissappearing Kurd oil revenues scam. We have to trust that Abadi doesn't get popped before he completes his investigations and exposes those roosting in their protective US Mansions and Kurd Palaces. Interesting that the Saudis have been busy clearing out their own den of getrichkwik conmen also.

SS - to put things in context: 1bbl of the black gold holds c. 42US g. or c. 35 Imp.g. or after cracking down into fuels - enough to get a typical gasguzzler laden with an average familly of 4 stout US citizens and their luggage to run over 500 miles. The price of the steel bbl would in fact be about 15X the value of the oily contents ! Does that bring things into context ? So if my fictitious auction for the rumoured jewels that GKP currently mismanages in the Shaikhan reservoir starts at a laughable $1/bbl. the IOCs should be scratching each others' eyes out to get a piece of the action at the auction. Something doesn't add up here.