Member Info for Jim800

Geopolitics between Iraq / KRG / Turkey may be “settled” but finances, contracts and repayments certainly aren’t!

Meetings will start within 30 days to commence discussion on arrears payments!

Monies won’t flow to IOCs til December.

Contracts up for renewal in Dec.

Anyone actually know how much IOCs will get per barrel for exported oil? Nope, the only figure anywhere is $16 for production and transport costs. Assume there’ll be a profit figure on top of that but no-one knows what it is or when it will be agreed by Iraq.

Turkey owes Iraq over $1bn - no resolution of that yet.

References and links for all the above over on gkp board.

They’ll all get resolved eventually but probably not in IOCs’ favour and with no clue over cashflow there’ll be no dividends for a while.

Interesting whether significant numbers of early No votes by PIs and IIs might sway the opinion of the BoD and influence any further recommendations on voting / takeover.

Love today’s volatility 😀

JXP - I’m not sat on the fence, I’ve had Genel shares since 2016 and GKP since August 😀.

Just pointing out that GKP and Genel are now totally different investment propositions. One is totally debt free and has an agreement for exporting oil and one doesn’t.

If you look at today’s share price movements you might be able to work out which is which and may even attempt to understand the reasons for the difference. 😀

Unwin - nice proof of your stupidity. Facts and reality must be shorters! 😀😀

Yes for GKP - it’s rising nicely because they are going to have access to international oil prices.

However, if you spent a bit more time on words rather than emojis you’d have read that DNO (and hence Genel) are just continuing local sales for immediate cash. Plus no sign of getting arrears back or an agreement for international sales yet. That’ll be the catalyst for a decent rise at some point.

What news?

KRG and Iraq still can’t even agree what was said in a meeting, let alone get to a written agreement.

Neither side willing to meet APIKUR demands.

KRG not even willing to transfer non oil revenues.

Both sides just trying to impress their electorates and maximise personal gain - far more important than reaching a pragmatic agreement for the benefit of the populations.

Just clarifying for you 😀

Terry - again read the words! My post was that there are lots of better options for EIG!

I’m happy to check in on prices around my hobbies - currently in France in motorhome, much better things to do than trade daily. 😀

Current discussions (though both sides now disagree over what was agreed today) are only about exporting KRG owned and produced oil through the pipeline.

We’re still a long way off any agreement that will facilitate export of IOC / APIKUR oil unless KRG buy it locally then export it via pipeline.

Oops sorry, wrong RNS - brokers managed an average of 351 yesterday whilst amateur buyer managed 347 average.

Interesting that CEO managed to buy at an average of 347 whilst our highly paid stockbrokers only manage an average of 357 for a similar volume on the same day!

“so more profitable options probably available"

So what does that tell you their view of DEC, $13.75 is not good value against their other options.

There are lots of better short term options than DEC 😀 as we’ve discussed ad nauseum, my view is that DEC is a longer term investment where the dividend pays us to be patient.

For a company such as EIG, holding shares long term is pretty much never their best option.

I have no idea over rules for second offerings but would hope as it’s a third party selling a bunch of shares it has nothing to do with DEC and hopefully no costs.

US market was a huge volume yesterday (outside the 5.7mn) at 660% of average volume. So lots of sellers and buyers at those prices.

Guess sellers always want cash for other things, EIG is a business, not an investment trust so more profitable options probably available.

DEC would only have had the one shot at $13.75 buys so probably thought multiple BBs over time are more supportive (even if slightly more expensive).

As always, it’ll take some time for dust to settle but I was confident enough to buy a £5k tranche at 1047 yesterday and another £5k at 1041 this morning. Hopefully a quick turnover 😀

Looks like Terry was correct about DEC getting the permissions and cash lined up to recommence BBs if required after the second offering. Limit seems to be $14.35 again, exactly the same as it was previously. Someone at DEC has worked out this is the sweet spot.

I can’t decide whether the offering was good or bad. Obviously a negative impact on SP, but for a short time rather than an elongated bout of selling down 5.7mn (or 6.5mn) shares which would have impacted for a longer period.

And up 6%. Only certainty here is you being wrong 100% of the time 😀

Don’t worry LL, the mystic Phrophet will be along shortly to tell us all will be fixed after the next meeting! 😀😀

He’s said it every day since Feb so he’s bound to be right one day!

F me you’re stupid.

I said your view was independent, not the broker.

It’s like a conversation with Joey Essex- get to Dubai you’ll fit right in 😀

Terry - your continued inability so see anything other than your myopic, jaded point of view is astounding.

My point was that independent of broker note valuations, DEC and Carlyle are much more likely to be able to establish a fair valuation for acquisitions than you. They have experience and access to accounts, you just have your “all acquisitions are bad” mentality.

As for the BBs - you continually harp on about them - but DEC acquisition strategy is to increase scale and efficiency - not achieved by BBs.

BBs might reduce div payouts but don’t enhance production.

Your inability to even consider that your point of view might be sub optimal (based on your negative views of the past) must make you a right pain in the arse. Dubai probably the best place for you.

Terry - do you really think you’re better placed to work out fair value price for acquisitions than DEC and Carlyle?

That’s pretty self delusional - even for you.

Why don’t you set up a company and just buy back the shares in it? you’ll make a fortune! Oops no you won’t you’ll have nothing to sell 😀😀