The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
The truth of the matter here is one word HATRED between Iraq and kurdistan !!
It's so deep and ingrained over hundreds of years .
Are iraq happy to lose $1b a month so kurdistan suffer Absolutely they are .
They don't care about 400kbopd through SOMO as they have to pay kurdistan their budget agreement money's.
If iraq could nuke kurdistan tomorrow and it went away forever they wouldn't hesitate in pressing that button ..
I'm still saying gkp carry selling locally at 40kbopd and getting money instantly payed until another route to market is found ..
Rant over ..
So he lies the main issue !!
Someone will have to give and I can't see it being iraq so the wait continues I suppose.
Come on gkp give us an update on local sales .
Hopefully 400kbopd + is happening as we speak ..
Last week, Turkey’s energy and natural resources minister announced that the Iraq-Turkey pipeline is ready for operations. Iraqi officials have repeatedly blamed Turkey for refusing to allow the flow of oil over the months, while Ankara officials have stated that the pipeline was closed due to much-needed repairs after the devastating February earthquake.
“Turkey has repeatedly expressed its readiness for oil to flow again,” President Barzani said. But issues with international oil companies (IOCs) operating in the Kurdistan Region are disrupting the flow, he added, as well as discrepancies between the prices set for Kurdish and Iraqi oil.
International oil companies (IOCs) and the KRG are bound by Production Sharing Contracts (PSCs) which are governed by British law, hence any disputes would have to be taken to the London Court of International Arbitration.
Under the Kurdistan Region’s PSC model, the IOCs cover the entire cost of production while the KRG receives the lion’s share of the profits from successful projects.
Hello 50s !!
This will definitely be visiting 40s before Xmas...
Glad I sold out at 108p as I could see this was going only way .
Growth will only start in 2025 as they stated.
That's if they last that long which at the moment looks it will not ..
Where have the big diamonds all gone 😕. A corrupt country says all you need to know 🤔 .
TSSZ
No payments to IOCs what makes you think that ??
No payment no oil no pipeline resumption its as black and white as that...
I'm happy Gkp plodding on selling locally for now untill we get what we are owed and the dots and Ts signed.
Gkp are probably over 40kbopd locally now !!
Maybe an update on that would be nice but to much going on for that happen .
I'm not even expecting to much in the share price when it does open .. 150p max then a sell off down to 120s .
I'm definitely selling half my holdings on pipeline RNS but not if we get a decent lump from receivables..
At least someone is getting payed !!So hopefully the IOCs are next in line to receive some cash . Remember its their main source of income for kurdistan!!
No oil no budget money simples as that ..
Where is that RNS with a $100m payment??.
Shafaq News / The Ministry of Finance and Economy in the Kurdistan Region (KRI) confirmed on Sunday that it has allocated a significant portion of its domestic financial revenues to finance the monthly salaries of public sector employees in the Region.
Hunar Jamal, the spokesperson for the ministry, stated during a joint press conference with the ministry's advisor, Hawri Kamal, that a substantial part of the financial revenues has been earmarked to bridge the gap in monthly salaries. He emphasized that the responsibility of the Regional Government (KRG) extends beyond salary disbursements to include expenses for departments and affiliated institutions.
During the same conference, the ministry's advisor mentioned, "Some media outlets that discuss revenues do not convey the truth. They mention 320 billion but do not clarify that not all of it is in cash. Some is allocated to ministries, some to services, and some to other areas, leaving a relatively small amount."
He continued, "We believe in transparency, and in the coming week, we will announce all revenues, including those of the last six months, and we will deliver this amount to the federal government and disclose the figure."
Kamal threatened legal action against local media outlets that he claimed were disseminating inaccurate news, emphasizing that the Ministry of Finance and Economy unequivocally rejects any unauthorized statements made on its behalf by any individual.
As I said many months ago this is f00ked and will hit 40s in the next 3 to 4 months!!
They will keep increasing debt untill 2025 .
This company is a lifestyle for the BOD that's all and investors will only lose their shirts here .
Going down the road for another restructuring and wiping out SH again .
Just short this because its the only way to make money here ..
Stick to 400kbopd for now and see how how payment's happens and we can't trust them as their word means nothing!!
We all know the IOCs have been on restricted production for tears .
Now the flood gates are about to open and so there now becomes a dilemma.
Everything and above 400kbopd will become part of krg extra income who have been thieving from the IOCs from day one ..
I'm hoping for a $100m payment to gkp to show any intent now ..
Let the games begin
So Market is dropping oil on the bases of 400kbopd coming back on line ..
But treats IOCs in kurdistan like nothing is going to happen.
You can't do one without the other can you !!
Of course we can because we are Mr Market and do what we like based on nothing ..
The only stumbling block for all to see now is IOCs getting payed and honouring the PSC ..
They are looking for full moneys payed not a $25m payment..
I would expect nothing less than $100m and that's to show some intent..
Where its coming from is another issue because iraq definitely won't pay it and the krg are skint !!
Maybe the US will give the Krg a loan ??
No money NO oil simples
You could make it up and shouldn't be surprised at all..
Shorts have an out tomorrow around 102p. All that news wiped out in a blink .
You never know a RNS could drop tomorrow morning with a chunky payment because no oil will flow without one ..
We live in hope 🙏
Need a RNS pdq otherwise back to a quid !!
I don't think management accually care about the share price swings ..
But throw as bone for god sake ..
As I said before the most manipulated share ever in existence.
Shorters might get their exit tomorrow..lucky sods
The next RNS and this blows so being out is just plain stupid at this present time !!
1. Payment
2. PSC agreed 👍
3. Targeting 60kbopd by year end
4 Selling legal oil which is the most important IMHO
5. FDL
6. Reinstatement of Dividends.
7. And people are waiting for it to drop back to a quid.
I'm glad my parents bought me up with a tad of common sense.
Putup receivables worth 54p ?? My maths are rubbish but receivables are worth £125m we have a mcap of £222m so surely that's 105p a share .
Would like to be corrected??
So if a RNS drops and we received all money's £125m gkp would only increase by 54p ...
Rubin
ERBIL (Kurdistan 24) – During an exclusive interview with Kurdistan 24, Russian Consul General Maxim Rubin said that Russian companies continue to operate in the Kurdistan Region in a limited capacity despite the oil export suspension.
The consul general revealed his enthusiasm upon learning that Iraq and Turkey are in the process of resuming oil exports.
Rubin also underlined that the Kurdistan Region and Russia enjoy a very strong relationship.
“Both Rosneft and Gazprom continue to operate despite the suspension of oil exports from the Kurdistan Region,” he noted, while hoping that oil exports resume soon, but “this depends on the outcome of negotiations between the Turkish and Iraqi governments.”
Gazprom is a Russian state-owned energy corporation that has been operating in the Kurdistan Region since 2006. It has invested in oil and gas exploration and extraction projects, as well as infrastructure.
Meanwhile, another Russian oil giant, Rosneft, has operated in the Kurdistan Region since 2008. The company signed a $3.8 billion deal to develop the Region’s oil fields. The deal stands as the second-largest foreign investment in the Region’s history.
The Kurdistan Regional Government (KRG), Turkey, and Iraq have participated in several rounds of negotiations since then to resume the export, whose loss is estimated to be nearly $6 billion.
So by the shorts dates they purchased around 99p and 100p and are holding 2.8m shares approx!! So in the hole for £700k at present??
Let's hope gkp rises up another 10% tomorrow and they fry .
Someone will need to get out some negative news from their office so they can close ASAP.
Could get Lionel