Member Info for Kheldar

Now the Kurdish federal judge has resigned calling out ‘hostile rulings’ against Erbil.

https://www.argusmedia.com/en/news-and-insights/latest-market-news/2546991-erbil-baghdad-relations-complicate-further

The Iraqi government has some hardline idiots aligned to Iran (similar to itsaponzi on this board) and they are making life difficult for Kurds as well as Sunnis and Shiites aligned to the west.

You can see from article below that Sudani does not agree with the conditions his own government is putting on the Kurds to receive the monthly salaries.

Really the only way forward is for the yanks to start sanctioning individuals in the Iraqi government. Nothing like personal loss to bring a person to his/her senses.

https://www.kurdistan24.net/ckb/story/253800-%D8%B3%D9%88%D9%88%D8%AF%D8%A7%D9%86%DB%8C:-%D9%84%DB%95-%D8%AF%DB%95%D8%B3%D8%AA%D9%88%D9%88%D8%B1-%D9%88-%DB%8C%D8%A7%D8%B3%D8%A7%DB%8C-%D8%A8%D9%88%D8%AF%D8%AC%DB%95%D8%AF%D8%A7-%D8%B4%D8%AA%DB%8E%DA%A9-%D9%86%DB%8C%DB%8C%DB%95-%D8%A8%DB%95%D9%86%D8%A7%D9%88%DB%8C-%D8%A8%DA%95%DB%8C%D9%86%DB%8C-%D9%85%D9%88%D9%88%DA%86%DB%95

Iraqi Prime Minister Mohammed Shia Sudani said in an interview with an Arab media: According to the constitution and the budget law, there is no such thing as cutting salaries or sending salaries, but we must send 12.67% of the Kurdistan Region.

Sudani said there is a misunderstanding in Baghdad on the position of the Kurdistan Region, while the Iraqi Finance Minister is sending the February salaries in stages and conditional on the sending of salaries for subsequent months.

"There is no such thing as cutting salaries according to the constitution and the budget law, the Kurdistan Region's share is 12.67 percent," Iraqi Prime Minister Mohammed Shia Sudani told a Saudi television channel.

Sudani stressed that according to the budget law, there is no such thing as salaries, but we must send the budget to the Kurdistan Region to spend part of the salaries and part of the projects because the Kurdistan Region has its own government and parliament.

"I clearly feel that there is a misunderstanding of the position of the Kurdistan Region at the level of the media and at the level of the political elite in Iraq, so if we deal with the Kurdistan Region in this way There will be no such thing as the political and constitutional structure of the Kurdistan Region.

Sudani's comments come as the Iraqi Finance Ministry said it would pay salaries in several stages for February and has other conditions for next month.

“The COPL Group will continue its day-to-day operations as usual and intends to continue paying its critical suppliers in the ordinary course during the CCAA proceedings. The forbearance agreement with the Company's senior lenders has now expired.

The Company believes there is little prospect for a return to shareholders or bond holders.”

So it’s going to carry on as usual and pay its critical suppliers and oh by the way nothing for the shareholders and bondholders. “

Looks like the real scam artists are the SL and the BoD.

Really feel for those who have lost a lot here. Hope you guys make some of it back elsewhere.

This is the article I think everyone is talking about https://www.kurdistan24.net/ckb/story/253495-وەزیری-سامانە-سرووشتییەکان:-سەدا-80ـی-بڕیارەکانی-دادگای-پاریس-لە-بەرژەوەندیی-هەرێمی-کوردستانن

The main crux of the bit translated is as follows:

The Minister of Natural Resources of the Kurdistan Region also noted that "the cost of extracting the Kurdistan Region's oil has reached an agreement with the Iraqi government. Previously، the federal government had decided to give about 8،900 dinars to companies in the Kurdistan Region to extract each barrel of oil، but after the formation of two committees، it was decided to increase the amount to 20.61 thousand dinars."

It looks like the Iraqis are prepared to change cost of oil production from $6.83 to $15.81. Sounds like a good compromise to me but wtf do I know.

This article also explains why the Kurds don't seem to be too bothered about Iraqi government selling the oil.

As Kamal Mohammed Salih put it، "80 percent of the Decisions of the Paris Court were in the interest of the Kurdistan Region. We have no problem with somo selling Kurdistan Region oil and its revenues go to the Youth of the Iraqi Government، but the financial rights of the Kurdistan Region must be provided."

I've used an online website to do the translation so can't really guarantee the translation. :-)

ATB to all shareholders

IOCs should reject the offer and ask for £30.63 😂

If this is all made up you have to give credit to whoever came up with £20.61. That is a very precise figure.

Atb to all holders

The short positions on GKP are really fascinating. As far as I can gather only walleye from when they took their position are in profit. I think their average is around £1.28. Yet, they are not reducing their short. Over the last few days they’ve seen their profit reduce by over £200k.

I don’t think these hedge funds are stupid and in my opinion they are keeping this price down to accumulate shares as possible.

I have accumulated as well let’s see what happens over the next couple of months.

Atb to all shareholders

He’s got experience of secondary fundraising. Feck me how much dilution does Dilly want to do?

This is ridiculous two more mouths to feed. If this is admitting that current bunch don’t know how to make money surely it makes sense to get rid and bring these two in. As it stands more money going in salaries.

Please Dilly kindly feck off.

@theoryman - the short tracker link I provided is correct as you can compare with fca short tracker. Millennium did take their holding to 0%. However, that’s only for the day reported , subsequently they can open their short but don’t have to report it until they cross the 0.5% threshold which is why figures in second table can’t be guaranteed. This goes for all short positions below 0.5%. As hedge funds don’t need to report they could be as extreme as 0% or 0.49% irrespective of what it says in the table

Itsaponzi: “Probably expect a 6 /7 % down today after that news !! ”

So you think a company that is making $4m a month profit and has said it is is expecting to increase this is overvalued at a market cap of £223? Give your head a shake.

Points to note:

Millennium quickly closed their short position last week. Why do you think they did that?

Apikur have suddenly become more vociferous and calling out lies.

Why is the Iraqi government keep dangling the promise of opening the oil pipeline soon if they are in control? Why not just say the contracts are illegal and close these companies down?

Why has Sudani openly criticised USA bombings and asked for US forces to leave but has not written a formal letter to UN or the US about either of these matters.

There are a couple of Iraqi media channels on X linked to these Shiite factions. If you think Sudani is against KRG then you need to listen to these guys. They think he is a US stooge.

Nothing can be taken for granted but things are not as bad as you think.

Good spot loggy , apologies for duff info. I saw 1st March and thought woohoo

Look at the bottom table in the short tracker link I have provided. They have actually reported they have gone to 0%.

One of the funds reduced their short position by 0.1%. That may account for the jump around 3pm.Lets see if more blink come Monday.

ATB to all shareholder, as usual DYOR

https://shorttracker.co.uk/company/GB00BQHP5P93/

Millennium declared their short position on GKP on 22nd Feb for 0.5%.

Increased this to 0.61% on 26th Feb

Increased again to 0.72% on 28th Feb

Today gone to 0%.

😂

https://shorttracker.co.uk/company/BMG4209G2077/

All credit to GKP board - great comms

The US pre market price is £9.90.

I loaded up around the £9 and I really honestly believe the shorters have got this one wrong. This company is as dull as it gets but pays 30% dividend at this price.

Here’s hoping the shorter get f fully wrecked here.

https://stocktwits.com/symbol/DECPF

Angus wrote today: “Looks like this will be delisting this morning”

😂 this share was just waiting for Angus to sell so the rest of us can make money

The BOD have had 3 months to sort out the refinancing and all we’ve heard is we are in a precarious position.

I can’t see why the SL would agree to a weeks extension unless they’ve been shown some substantial evidence that they will get their money.

This is in a high risk high reward scenario now but as usual dyor .

Atb

In a perverse way getting paid only $25 works in GKP favour. Not only are the covering their cost but making $4m profit so can continue to do this. Whereas the Iraqi government are seeing their oil sold for pittance knowing full well that these ‘local’ sales are Turkish and Iranian middlemen who are selling for double what they have paid.

Also note the the bopd given is only up to 26th feb. There are still 3 more days in february not accounted for

With all the political shenanigans ongoing in Iraq and any other company would have folded. This little beauty is not only covering monthly costs but is now making $4m profit and this when they are having to sell locally at $25.

It’s still a tough road ahead to get around the politics but if any company can do it It’s GKP.

Atb to all shareholders

Good news for the Kurds the salaries are now guaranteed for 2024. Budget allocation amendments to be passed to parliament soon.

https://shafaq.com/amp/en/Iraq-News/Iraqi-Finance-Minister-2024-budget-spreadsheets-to-head-to-parliament-soon

There are Shiite factions within the Iraq government which want to make life hard for the Kurds. Unfortunate for them now that the Supreme Court has ruled they are no longer able to stop the salaries from being paid. Interestingly the finance minister is facing questions tomorrow about the salaries and also the delay to the budget allocation amendments.

https://shafaq.com/amp/en/Iraq-News/Iraq-s-Finance-Minister-faces-parliamentary-questions-on-Kurdistan-salaries-and-budget-delays

I find it incredulous and downright stupid for putup to be invested here if he truly holds the views he has spouted here.

The thing to remember here is that GKP has no debt. Any historical payments that are not paid is an annoyance and an accounting loss and nothing more.

The key thing is that things appear to be moving forward slowly but surely.

Atb to shareholders

@highlander - that made me lol. It appears in Iraq if you spend £1 then you get £1 back. Apparently profit is frowned upon 😂 the Iraqis need to overhaul their business studies course for sure