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DNO production at 40kbopd !
https://www.globenewswire.com/news-release/2023/8/17/2726889/0/en/DNO-Opens-Taps-at-Tawke-Reports-Second-Quarter-2023-Results.html
So PUTUP where do you see gkp share price on 85kbopd??
Not unrealistic if this circus gets all sorted which it will.
I'm talking 2 years away because miraculous gkp production will increase quicker than ever for some silly reason. ( I wonder why 🤔)
They have had their foot on the production brake for years ..But understandable when dealing with thieves.
If these PSC are not honoured by Iraq then an oil and gas law will never be agreed .I think they will because they have no choice if they want 400kbopd from kurdistan!!
They all know what needs to be agreed but these Rag heads are uneducated self serving idiots..
At least Gkp can limp along while this rubbish plays out ...
I will hold until T/O now no point even trying to trade because the pipeline will open without us knowing and the oil will be passed days before or after it happens.
£5 thank you very much ..
The US Strategic Petroleum Reserve (SPR) is at a 40-year low. A replenishment is not too far in the future; when that happens, the prices are bound to kiss north. The declining North Sea output could exacerbate supply pains.
Get the pipeline open and just maybe all the stars will align for gkp going forward???
Oil price is cheap with inflation and rising costs on just about everything. Oil should be $100 now so Mr Biden will have to pay a lot more to replenish his reserves.
But that will be Trump's problem down that road.
We will find out how much gkp are getting for local sales at the end of the month !
Hopefully they can get to 20k 16k nett to Gkp.
Local refineries are making a nice $56 profit a barrel before it gets there..
$30 not sure but im an optimist and will gkp are getting closer to $40 and also MOL pay 20% of the cost ..
My calculations put us in postive cash flows now at 11700k nett 9360 to gkp .
All guess work as know one really knows exactly.
We will find out in 20 days time and I will be holding for result day.
So as a barometer down the road when all these rain clouds dissappear!!
Gkp will be selling legal oil through SOMO at market price.
Let's say in 18 months gkp hits 85Kbopd to 110kbopd .
New CPR upgrades to over a billion barrels of P2 or more.
FDL on Shakians potential in the next few years
Dividends reinstated.
At what fair price point is looking at to sell with them numbers or possibly more ??
I know I'm probably dreaming but it's not impossible now.
Only another 1999 meetings to go!! This is my only concern that the oil and gas law could take months and months to get sorted. But we can limp along now knowing cash burn has almost stopped. Hopefully our cash balance will increase over the months while these idiots carry on disagreeing.
ERBIL (Kurdistan 24) – The Kurdistan Regional Government's (KRG) Council of Ministers held its weekly meeting on Wednesday chaired by Kurdistan Region Prime Minister Masrour Barzani, with the participation of Deputy Prime Minister Qubad Talabani, according to a statement from the KRG.
For the first topic of the meeting, the results of the visit of the KRG delegation to Baghdad were presented, which was dedicated to drafting the federal oil and gas bill.
PM Barzani also stressed that the drafting of the oil and gas law should adhere to the Iraqi constitution.
The prime minister also emphasized that the agreements signed between the Kurdistan Region and the federal government on the constitutional rights of the Kurdistan Region should be respected.
For the second topic of the meeting, Minister of Labor and Social Affairs Kwestan Mohammed presented a draft on regulating the welfare and empowerment fund for people with disabilities and physical impairments prepared in light of Law No. 22 of 2011.
The law says revenues will be collected to provide necessary services to people with disabilities and support them in all economic, social, health, and educational facets.
After discussion, the Council of Ministers unanimously approved the proposals and instructed the Ministry of Labor and Social Affairs, in coordination with the relevant ministries and organizations, to take necessary measures and procure required funds.
Feel sorry for the ones that panic sold or got stopped out after that perfectly well timed orchestrated raid on PIs.
Dno and HKN gaves us no number on local sale prices either .
Dana news was massive for me. Our update hopefully says that we have received a payment and local sales are 20kbopd . The cheery on the cake will be the pipeline opening but I won't concern myself with that one as they need another 2000 meetings yet ..
I sleeped a lot better last night knowing the BOD are on the case now .
Congratulations to the ones who held strong Tuesday as well.
So the KRG owed Dana $97m in receivables and payed them $80m of that today !!
So on that basis gkp should expect at least $100m ???
https://www.reuters.com/business/energy/dana-gas-receives-80-mln-iraqs-kurdistan-region-2023-08-09/
Come on then !! Who got stopped out in the low 80s yesterday.
The drop yesterday was orchestrated to rob PIs and the FSA won't even look at it .
Todd did say many won't be left at the end .
I'm sure there will be a few more bumps in road before gkp gets bought out around the magic £5 in 18 months.
Mates first . You would think that $100m would have been divided up pro rotta??
Gkp and Gen Dno must be expecting a payment after hearing that..
I would be on the phone ASAP to the KRG ..
ERBIL, Kurdistan Region - The UAE-based Dana Gas on Wednesday reported that its production rate in the Kurdistan Region experienced a six percent growth amid a declining profitability for the company in the first half of 2023.
According to the report, Dana Gas saw a decline in profitability during the first six months of the year, generating a net profit of $83 million compared to $111 million last year the same period last year, citing declining Brent prices and discounts on condensate sales in the Kurdistan Region as reasoning for the drop in profits.
The decline in profitability was also due to additional discounts on condensate sales in the KRI [Kurdistan region of Iraq], where the Company began to sell to third party local buyers as other companies shut down production in the Kurdistan region of Iraq,” read the report.
The company increased its production rate in the Kurdistan Region by 1,900 oil barrels per day in the first half of 2023 compared to the first half of 2022, while at the same time reducing operation costs by 15 percent.
The report added that Pearl Petroleum, a 5-company consortium consisting of Dana Gas and Crescent Petroleum in the Middle East and three European energy firms, recently received $101 million from the Kurdistan Regional Government (KRG) to settle outstanding receivables, adding that the amount the Region owes now stands at $97 million.
The consortium continues its work in the Region and has now completed the drilling of six wells in the KM250 expansion project set in Khor Mor gas field, located in Sulaimani’s Chamchamal district.
Khor Mor field has repeatedly come under rocket attacks, reportedly by Iran-affiliated Iraqi militia groups with a spate of attacks occurring last year.
Despite the security threats on the gas field, Dana Gas last year said they would be able to meet the Kurdistan Region’s full gas demands in about two years.
The KM250 expansion project is supported by a $250 million financing agreement for 7 years announced in September 2021 with the US International Development Finance Corporation
There is no reason for a placing now with $80m!!
Local sales will increase to 20kbopd by the next update (16k nett ) I'm pretty sure of that .
Our $80m will only grow now not by a lot but in will.
Anyone know the barrel payed to gkp when they were trucking back in day . So we should get an idea on gkp are making per month
I'm happy to sit this out now and sleeping at night becomes more comfortable 😌.
How many got stopped out yesterday? I'm sure half of private investors got wiped out yesterday with panic selling as well .
Looks like 100p is about to be broken
No deals with turkey either so all this friendship was lies !!
Erdoğan definitely isn't visiting Iraq anytime soon ..
So what now for turkey and Kurdistan?? Can turkey allow oil to flow again and tell Iraq to do one .Iraq has gone back on any promises so what could happen nothing I suppose.
Kurdistan does become independent.
Kurdistan can't carry on with no money that's obvious.
So there we have it in black and white iraq doesn't want oil flowing from kurdistan!!
But deep down we all knew this..kurdistan is fooked
According to the E.U. source last week, Baghdad has no interest whatsoever in agreeing to any of Turkey’s terms. It also has no interest in Iraq Kurdistan resuming its independent oil sales either. “On the one hand, independent oil sales jeopardise the oil flows that are meant to be sent to Baghdad to sell, so there is no upside to that for the FGI,” he said. “On the other hand, Baghdad does not want the oil either, as if [Iraq] Kurdistan resumed full production it would put it [Iraq] over its OPEC+ quota,” he added. “As Baghdad does not see an independent Kurdistan in the future of Iraq, it sees the best solution as keeping the independent oil sales stopped and the Kurds financially paralysed,” he concluded. This view finds further resonance in a statement late last week from Iraqi Prime Minister, Mohammed Al-Sudani, that Baghdad has drafted a new oil and gas law that will unify regulations in the industry in all governorates, including the Kurdistan region.