Member Info for Kheldar

It’s up a further 1.9% overnight as well. Current price $14.40 or £11.36.

Let’s see how the UK market reacts in the morning.

https://stocktwits.com/symbol/DECPF

Normally so many shorts opening is not great but I wonder if Blackrock have increased their holding by mopping up the sales by these shorters. I think we are in for a few interesting days.

ATB to all shareholders

Bottled, this is not just a great result but an M&S proportion result. I’ve stayed away from commenting as I just didn’t have anything positive to say lol but give credit where it is due I think the BoD have done really well here. Just need them to get a result on the deeps next.

Let this sink in with one additional wellthey have increased revenue by 60%.

Happy days and AtB to all shareholders.

Reduced by 0.1 last Thursday to 0.59%. I reckon we’ll see then report going below 0.5% today as GKP didn’t buy any shares on Friday and I’m guessing it’s them closing out their position in an orderly fashion 😂

Atb

Rudaw: What were Ambassador Payt's views on the recent meeting between Erbil and the oil companies with the Iraqi Oil Ministry?

Miles Cagins: Ambassador Payette said he was pleased to see the tripartite meeting to resume oil through the Turkey-Iraq pipeline, but he was aware that other discussions had to be held. The Ambassador is well aware of the Iraqi energy sector, including the Kurdistan Region; He also mentioned his recent visit to the Kurdistan Region where he saw the important level of oil investment and oil companies, and saw government officials and businessmen working on the development of the gas and oil sector in the Kurdistan Region. Regarding the Iraq-Turkey oil pipeline, Ambassador Payet said that this pipeline is important for Iraq's energy independence as well as for the global energy market; Therefore, the United States will continue to encourage Baghdad to quickly resolve the issue of oil exports through the pipeline, he said it is important to have another trilateral meeting between the Iraqi Oil Ministry, the Kurdistan Regional Government and international oil companies.

Rudaw: If I ask you my last question. What is Epicurus' position on oil exports through SOMO?

Miles Cagens: Epicor agrees with the Kurdistan Regional Government, as recently announced after the Council of Ministers meeting that selling oil directly through SOMO and exporting through the port of Ceyhan is the best option to resolve the Iraqi-Turkish pipeline problem Advance or deposit in a third party account as a guarantor and independent banking party or similar financing by payment of oil barrel shares from Jayhan Port. This arrangement can be made between SOMO and international companies; This is the best option to quickly resolve the issue of oil exports through Iraq-Turkey

Https://www.rudaw.net/sorani/business/210620242

Rudaw - Washington

Epicure agrees to sell oil through SOMO and makes three proposals to resolve the payment of the companies' financial entitlements.

The proposals are as follows: first, by paying the money at the beginning of oil exports; The second is by depositing money in an independent bank account as a guarantee. The third option is that the Iraqi government can give the companies their shares in the form of barrels of oil in the port of Jayhan instead of money.

On Friday 21-06-2024, the US Chamber of Commerce organized a meeting for a number of US oil companies, including those operating in the Kurdistan Region, with Geoffrey Payet, US Assistant Secretary of State for Energy Resources.

The meeting was attended by Miles Caggins, spokesman for the Kurdistan Petroleum Industry Association (Epicur) and Matthew Zeiss, vice president of HKN; Part of the meeting was devoted to the issue of oil in the Kurdistan Region and the problem between Erbil and Baghdad and companies.

"Ambassador Pite explained to the executives of US oil and gas companies that the United States is committed to working with Iraq and the Kurdistan Regional Government to help Iraq have a strong energy sector," Caggins told Rudaw after the meeting.

"Ambassador Payte emphasized the resumption of oil exports through the Turkish-Iraqi oil pipeline," Cagins said.

"Epicure agrees with the Kurdistan Regional Government that selling oil directly through SOMO and exporting it through the Ceyhan port is the best option to resolve the Iraqi-Turkish pipeline problem," he told Rudaw.

Rudaw reporter Diyar Kurda's questions and answers with Epicurus spokesman Miles Caggins:

Rudaw: They met with Ambassador Payet today and the Chamber of Commerce. What was discussed between you and Baghdad about your problems and the oil problem between Erbil and Baghdad? Were there any positive signs from that meeting?

Miles Caggins: Today in Washington, the U.S. Chamber of Commerce hosted a meeting hosted by Ambassador Geoffrey Payette, U.S. Assistant Secretary of State for Energy Resources. At today's meeting, Ambassador Payet explained to the executives of US oil and gas companies that the United States is committed to working with Iraq, with the Kurdistan Regional Government to help Iraq have a strong energy sector; This is a priority for the Sudanese prime minister and the Biden administration to make Iraq energy independent. The goal is for Iraq to become energy independent by 2030; Ambassador Payet stressed the resumption of oil exports through the Turkish-Iraqi oil pipeline. There is also a view in Epicure that international oil companies were happy to be invited to participate in the trilateral meeting in Baghdad. We believe that these discussions should continue to resolve the issues.

Rudaw: What were Ambassador Payt's views on the recent meeting between Erbil and the oil companies with the Iraqi Oil Ministry?

@putup “volume in June disappoints.

- uptick in price by $1 is good but not enough to offset drop in volume “

The reason for the volume in June was lack of truckers due to Eid.

Buybacks, interim dividend (5.4p) with promise of more dividends but what keeps you up is the volume in June 😂

“keep my £2 year end fair value estimate (£1.48 ex receivables) predicated on a return to exports and full recovery of receivables (both of which look vulnerable to revision).”

This was trading at £3 when oil was going through the pipeline but you think £2 is fair value? If the pipeline opens the terrain will have changed and we will be in uncharted territory. The pipeline opening means a recognition by Iraq of gkp and that alone will add £s to the price. All dependent on concessions made by gkp.

Atb to all shareholders

@brucephalus1 - probably quite a few expected the usual share price drop after the agm and sold down. They have a decision to make now whether to jump back in at open :-)

I hope itsaponzi closed his shirt though 😂

Dividend.

$15 million interim dividend is equivalent to 6.832 US cents per Common Share based on the Company’s total issued share capital as at 20 June.

Https://www.rudaw.net/sorani/business/200620244

A US Commerce Department official told Rudaw that the United States is coordinating "very closely" with Baghdad "to create a favorable environment" for its oil companies in Iraq.

A number of companies operating in the Kurdistan Regional Government (KRG) oil sector have been suspended for more than a year due to disputes with Baghdad over their contracts, following a March 2023 ruling by the Paris Arbitration Court.

Although Erbil and Baghdad have agreed to resume oil exports under the supervision of the Federal Oil Ministry, the companies have not resumed oil production because they do not agree on wages.

Rudaw's Diyar Kurda in Washington asked US Assistant Secretary of Commerce for Global Markets and Foreign Trade Services Arun Venkataraman how they are working with Baghdad and Erbil to resolve the issue.

"We are working very closely with the Iraqi government to create a favorable environment, not only for oil companies, but also for companies in other sectors to participate in Iraq's development," he said.

Venkataraman noted that Washington is "taking a stand on a number of obstacles and challenges to trade" of their companies in Iraq; He said they would work "closely" with the Iraqi government to identify sectors they believe "have opportunities for US companies to invest.

“We know that the key points for the [Iraqi] government in economic development policy are those where our US companies can play a role; we continue to work with them to create an environment for our companies to succeed because we know when our companies succeed in Iraq Iraq will succeed in achieving its goals.”

Rudaw's Q&A with US Assistant Secretary of Energy for Global Markets and Foreign Trade Services:

Rudaw: Now that we are talking about foreign investment in the United States, I would like to take this opportunity to talk about US investment in Iraq and the Iraqi Kurdistan Region Their work has been suspended for a year. What is the Commerce Department's view on this issue? How are you working with the Kurdistan Regional Government and the Iraqi governments to resolve this issue?

Arun Venkataraman, US Assistant Secretary of Energy for Global Markets and Foreign Trade Services: First of all, we are working very closely with the Iraqi government to create a favorable environment, not only for oil companies, but also for companies in other sectors Get involved. We will focus on a number of obstacles to doing business in Iraq. We work closely with the government to identify sectors where we believe there are opportunities for U.S. companies to invest. We know that Iraq's needs are many; We also know that the key points for the [Iraqi] government in economic development policy are those in which our US companies can play a role. We continue to work with them to create an environment for our companies to succeed because we know that when our companies succeed in Iraq, Iraq will succeed in a

APIKUR spokesperson emphasized the importance of KRG’s involvement in modifying the oil agreements. Negotiations are underway for oil exports from the Kurdistan Region, with further discussions expected to address additional specifics.

https://channel8.com/english/15457

Https://www.rudaw.net/english/middleeast/iraq/100620243

In December the Iraq oil minister said there will be an agreement to export oil in 3 days. It came to nothing. In his defence he did say that before he had the meeting with KRG. This time around he is saying he hopes to reach agreement in the next few days. He has said this on live tv so if he is making this up he is going to make himself look really stupid. Following article on rudaw.net about 2 hours old. Have a read and make up your own mind.

https://www.rudaw.net/sorani/business/100620246

The Iraqi Oil Minister says he sees the resumption of oil exports from the Kurdistan Region as an "urgent measure" to diversify oil export routes. He said he hoped a final agreement on oil exports would be reached in the "next few days"

Iraqi Oil Minister Hayan Abdul Ghani said in an interview with Iraqi media that the events in the Red Sea have made us think about "diversifying oil export routes, and we see the export of oil from the Kurdistan Region through the port of Jayhan as a quick measure.

Yemen's Houthis have been attacking Red Sea merchant ships since November 19 in support of the Palestinians in the Gaza war. This has created a threat to ship traffic.

"Some of Iraq's oil goes to Asia, Europe and the United States. We want to protect those markets. Diversification of markets will guarantee continued oil exports," Abdul Ghani said.

"But incidents in the Red Sea have caused oil tankers to change course, and sometimes there is danger," he said.

According to the oil minister, they are "absolutely serious about having other ways to export Iraqi oil to the markets.

As an "urgent measure, they are working on the "rapid reactivation" of the Iraq-Turkey oil pipeline to export oil through the port of Ceyhan.

"There are negotiations with the Turkish side to resume oil exports through the pipeline," Abdulghani said.

"There are also negotiations between Erbil and Baghdad. Tripartite meetings have been held between the Iraqi Oil Ministry, the Kurdistan Regional Government's Ministry of Natural Resources and the oil companies operating in the Kurdistan Region," he said.

"There is an understanding on oil exports. There is progress and we hope to reach a final agreement in the next few days," he said.

"There is an agreement with the Erbil brothers to market the oil through SOMO. The oil will be handed over to SOMO and sign contracts with the companies that buy the oil. The revenue will be deposited in an account in the central bank," he said. "The agreement is open and ready to be implemented. All that remains is to export oil again," he said.

Https://www.reuters.com/markets/commodities/iraq-oil-minister-reports-progress-talks-with-kuridsh-officials-northern-exports-2024-06-09/

We have a progress in today’s talks and we expect to reach an understanding in (a) few days," Abdel-Ghani said in an interview with the state owned Iraqiya TV on Sunday.

Positive vibes , although I have to point out he did say 3 days back in December as well 😂

Positive vibes continue

A senior official in the Ministry of Oil said that it is still too early to say that a final agreement has been reached. “But we can say that the meeting has many positive aspects,” the official indicated.

https://www.iraqinews.com/iraq/baghdad-erbil-discuss-resuming-oil-exports-from-northern-iraq/

Https://www.rudaw.net/sorani/kurdistan/0906202419

An adviser to the Iraqi prime minister told Rudaw that good relations between Erbil and Baghdad will help resolve the problems of oil companies. “Political decisions decide every issue.

Sabhan Mullah Jihad, an advisor to the Iraqi prime minister, was a guest on Rudaw's afternoon bulletin. He also assessed the issues of relations between Erbil and Baghdad, contracts of oil companies, oil exports and the implementation of salaries of Kurdistan Regional Government employees.

Sabhan Mullah Jihad told Rudaw that good relations, understanding and coordination between the central government and the Kurdistan Regional Government (KRG) will pave the way for the problems of the oil companies in the Kurdistan Region to be resolved.

"Political solutions and political decisions will resolve the issue and solve the problems," he said. Whatever the level of conflict, there will be an outlet for resolution. The important thing is to keep the conversation going. The accumulated problems have been caused by a lack of dialogue, negotiations and sometimes boycotts. The problems have been temporarily overcome. Both sides have made mistakes and neglected on some issues over the past 20 years.

Regarding the resumption of oil exports from the Kurdistan Region, the Sudanese advisor said that Iraq and the central government are the first losers in the suspension of oil exports from the Kurdistan Region. Article 111 of the constitution says that natural resources belong to all Iraqis and all technical problems must be resolved in order for oil exports to resume.

The issue of the names of the Peshmerga and Kurdistan security forces was another part of the discussion with Rudaw. "No one in the central government knows who belongs to the security forces. A special committee within the Ministry of Finance is responsible for the list of names of the security forces," he said.

“The list of names of the Peshmerga and internal forces of the Kurdistan Region can also be supervised by the committee or a coordinating committee The first letter of the three names was offered, but it was rejected.

“According to my information, the Kurdistan Regional Government has chosen TBI Bank to pay the salaries of its employees. The central government does not object. Procedures are taken in this direction. To my knowledge, there are no problems. The recent visits of Kurdistan Regional Government (KRG) President Nechirvan Barzani and Prime Minister Masrour Barzani to Baghdad have solved most of the problems. It is very important that the talks and visits continue because the prime minister has a strong desire to resolve the issues.

We'll know soon if positive vibes continue.

Confirming: International Oil Companies participated in today’s tripartite meeting in Baghdad. Additional

@apikur_oil updates later.

https://x.com/apikur_oil/status/1799822807234396175

Positive vibes continue….

Meeting ongoing , nothing substantive has come out yet but we do have confirmation Apikur members in the meeting .

https://x.com/john78846295/status/1799769050802991242

Positive vibes continue 😂

https://www.rudaw.net/sorani/business/080620245

The Iraqi Oil Ministry confirmed today (Sunday, 9-6-2024) that it will hold a trilateral meeting with the Ministry of Natural Resources and oil companies, without revealing anything about the content of the meeting.

"The meeting will definitely focus on the oil issue, contracts of oil companies and financial issues in the oil and gas sector," Mohannad Khazraj, a member of the Iraqi parliament's oil and gas committee, told Rudaw.

"God willing, after the agreement, oil exports will resume. It is not a radical and complicated knot, both sides must show softness, especially the Kurdistan Region to resume exports," Khazraj said.

A delegation from the Kurdistan Regional Government (KRG) and associated oil companies arrived in Baghdad on Saturday for an official visit, following an invitation from the Iraqi Ministry of Oil.

Omid Sabah, Chief of Staff of KRG's Council of Ministers, stated to Shafaq News Agency that "the purpose of the visit is to continue discussions between KRG and Baghdad to establish a mechanism for resuming oil exports from the Region."

https://shafaq.com/amp/en/Kurdistan/KRG-delegation-arrives-in-Baghdad-for-talks-on-resuming-oil-exports

Must have managed to find a printer to print off the contracts after all