Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
If the SP stays over a quid I'll be happy ..
.definitely no 10% rise might of been with 30kbopd .
Like I say 40kbopd is achieved in a few weeks and hopefully gkp keep us updated on increased sales .
Which obviously they won't..
But they are covering cost and increasing local sales !!
Just need the pipeline open which has always been the case .
All news we sort of expected I was on at 20kbopd and $30 so a little better .
Markets will Mark it down though .
Get local sales to 40kbopd by end of September. If DNO can why can't gkp ??
It's just waiting game and a hold
Results tomorrow let's see how if the Market knows anything 🤔..
The share price should tell us today if we are doing OK with increased local sales which I will say is around 20kbopd anymore will be a bonus..
At $27 \$30 will be nice aswell . Hopefully the BOD will give us some numbers and the $6m spend per month is down to $4.5m ..
This will accelerate the decision making now !!
Maybe our BOD will follow with a 50% reduction in salaries ?? Knowing our BOD they will increase their salaries no shame ...
Shafaq News/ The Public Retirement Directorate of the Ministry of Finance and Economy in Kurdistan Region decided to reduce the salaries of representatives, ministers, deputy ministers, advisors, and retired general managers by 50%.
Bloomberg: Turkey has no intention of paying the $1.5 billion fine ordered by Paris arbitration court and is asking the KRG to pay it to Baghdad.
• Turkey is attempting to broker a deal between the Iraqi government and the KRG over how to resume KRG oil exports via its territory.
• Baghdad has asked Turkey to collect the money from oil exports and transfer it to Iraq after deducting 12.6% of the share allocated to the KRG but KRG has told Turkey that it wants to claim the entire revenue from exports via its territory.
• Ankara is offering the KRG and Iraq government help in building power plants and other infrastructure.
https://bloomberg.com/news/articles/2023-08-25/turkey-seeks-iraq-revenue-sharing-deal-to-restart-oil-exports?leadSource=uverify%20wall
Just to confuse the situation even further !!
A few things need sorting before any oil starts flowing.
1. Turkey want the fine payed by Kurdistan won't happen.
2. IOC want the PSC honoured before they resumption of oil.
3. Turkey want around $20 a barrel for transportation cost which is outrageous.
So these 3 scenarios will never
get resolved. So best carry on selling locally until a new pipeline is built or another solution is sorted .
Forget Turkey now let them have a redundant pipeline..
ISTANBUL - Maintenance operations on a pipeline that runs from Iraq's Kurdistan region to the Turkish port of Ceylan are almost complete, Turkey's Energy Minister Alparslan Bayraktar said on Monday.
Speaking to state broadcaster TRT Haber, Bayraktar said Turkey aims for the pipeline to become operational as soon as possible.
Personally I think the pipeline has been operational and has been ready to go for months.
So I will take this media outlet with a pinch of salt ..
PSC need sorting out before any oil flows and IOC will do everything in their power to amend them on crap terms.
But legally they can't ??? So expect this to carry on for another few months yet.
Hopefully the update will say 25kbopd plus locally. More importantly is what we are getting paid per barrel??.
The market doesn't believe a word of it !
To many false dawns of late. Hopefully I'm wrong but I reckon come October we will be hearing the same rubbish oil to resume soon .
More importantly at the moment gkp are selling oil and Hopefully the update next week will say 20kbopd local sales with some numbers attached???
The pipeline will open at some point but we are months away yet ..
Will the KRG get their full budget allocation this month??
No 400kbopd no money's...
That was sort of obvious to be honest !! You have to remember iraq are doing everything to delay the resumption of oil flowing.
How long they can keep it up is anyone's guess .
No 400kbopd no budget money iraq doesn't care ..
If turkey was serious about resumption they would just say no oil no water ..
We are months and months away if ever at this rate .
Here's hoping 🙏
Why doesn't Turkey close the flood gates to Iraq !! That will speed things up but Turkey seem to be happy with the pipeline closer at present ..
IOC are now in a different place now . So trying to bankrupt them isn't going to happen.
Iraq is running out of leverages the longer this goes on.
But remember these idiots don't understand logic or simple resolutions. All about thieving as much as possible out of their people.
Why doesn't Turkey close the flood gates to Iraq !! That will speed things up but Turkey seem to be happy with the pipeline closer at present ..
IOC are now in a different place now . So trying to bankrupt them isn't going to happen.
Iraq is running out of leverages the longer this goes on.
But remember these idiots don't understand logic or simple resolutions. All about thieving as much as possible out of their people.
Would be great if it did open by month end but I still think we are months away from that!!
Update next week saying 20kbopd will be fine for now .
We can limp along while we wait for these thieves to finally cut up the pie.
There is lots of pie to chop up before the pipeline opens .
I reckon November December at the earliest.
So is iraq happy with oil being sold in kurdistan for $35 a barrel ?? So much for SOMO krg has ignored that and rightly so the way iraq has been behaving lately.
Iraq is the only loser now and the IOC situation has become stronger.
If gkp can sell 50kbopd locally the pipeline becomes irrelevant and moneys payed are instant.
CAPEX will be at a minimum so overtime production levels in kurdistan will drop of drastically at some but time is on our side for that to happen.
And the pipeline should be open before production starts to drop. But always be prepared for a worse case with these idiots .
So we have become an oil station now fill up pay and leave!! Instant cash but Mr Market doesn't agree with our situation at the moment they want the pipeline open and us pumping 60kbopd.
Then they might mark us up.to the giddy heights of 120s .
Can we expect a Christmas divi ???
We need some transparency from the IOC on exactly what they are getting per barrel locally!!
Market doesn't like uncertainty hence why Genel is down and we will follow.
To many pigs noses in the trough. How much per truck load and how far are they going?
Lots of questions unanswered to be honest
It's read to me that the IOC are getting shafted all ways !! At this rate they will be giving oil away for nothing.
These thieves will never change as for the pipeline that is going to take months to resolve
There must be saying somewhere. To many thieves ruin a country..
UK no different but they just hide it better than these idiots .
Rant over and still holding