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Https://www.oilandgasmiddleeast.com/news/kurdistans-oil-fields-lead-iraqs-production-rise
One highlight was the performance of KRG-controlled fields, according to the Iraq Oil Report, which collectively saw a boost of approximately 50,000 bpd. Producers in this region successfully tapped into more buyers within the domestic market, bolstering their production figures.
ATB
Hold for gold
One day rodders there is going to be a similar article for Caspian Sunrise maybe not $60bn lol. We just only need to flow a couple of Deep wells and sky is the limit.
Talk of clean energy has been put in the back burner and oil is still the future and lots of M&A activity taking place in 2023 in O&G.
https://www.barrons.com/amp/articles/oil-mergers-prices-stocks-30ed215
Keep the faith.
Has anyone read the About section on LinkedIn for spokesman for APIKUR?
https://www.linkedin.com/in/myles-caggins
In About section it states:
I maintain extensive media, government, and diplomatic contacts and strategic relationships throughout Washington, D.C., and the Middle East—particularly in Iraq, Kurdistan region, and northeastern Syria.
Active Top Secret/SCI clearance. :-)
👍 the right guy for the job. If he has liked 111notout tweets then double nice.
Atb to all shareholders
@armas - to be precise Iraq are stopping only cash withdrawal of US dollars to ensure they don’t get hit by US sanctions. You will still be able to transfer dollars electronically.
This is a non story as far as gkp is concerned.
On a positive note this article seems to imply agreement between iraq and Turkey. It’s a Russian rag so at least armas can’t complain about it’s authenticity
https://russia-islworld.ru/en/temy/ekonomika/iraq-and-turkey-agree-to-resume-oil-exports-from-iraqi-kurdistan-2023-10-05-36570/
@theoryman - just looked at the Rudaw link you posted. It states:
The petroleum association stressed that even if the Iraq-Turkey pipeline were to reopen, the member companies would not be “in a position to produce oil for pipeline exports” IOCs are paid their contractual entitlements of oil sold and delivered “in the past and for future sales of such oil exports.”
Could be worded better but do you not think it’s saying we need to be paid our arrears before we deliver any oil for exports.
Do you disagree with this statement?
No arrears money no oil export. Can’t get clearer than that.
GKP and other oilers are losing out on revenue but as it stands they all should now be fCF positive on a monthly basis so can rise out the storm. GKP at last rns generating £3m+ net profit each month probably more if they have increased production or local refineries having to pay more knowing the gravy train will end once the pipeline is opened so trying to get as much as they can.
Atb to all shareholders
https://www.energyvoice.com/oilandgas/middle-east/pipelines-middle-east/538209/kurdistan-producers-warn-no-quick-restart-to-iraq-turkey-pipeline/
“ Members of the producer group cannot produce oil for export until it is clear how they will be paid, it said. APIKUR reports its members are owed nearly $1 billion in overdue and unpaid arrears.”
I’m guessing this is the article CCC is going on about :
https://www.iraqoilreport.com/news/iraq-presses-claim-to-enforce-arbitration-award-against-turkey-46075/
What no one has commented on is that Iraq now want $601.9m when the international court had said $1.4b. Not a great starting gambit for a court case unless some bartering has gone on behind the scenes. Although I hold GKP shares even I can see that KRG and Turkey are legally in the wrong and some sort of compensation needs to be paid. I’m guessing this £601.9m, surprisingly precise figure, has been agreed and is what KRG will end up paying on behalf of Turkey. KRG are strapped for cash so will probably be loaned / given the money by the yanks who can’t afford to let KRG crumble as they need the Peshmerga army as their fighting force against ISIS and Iran.
In the meantime GKP are getting on with selling to local refineries and as at last rns are making about £3m net profit each month.
This is a hold for gold share but as usual most will be scared into selling before the end.
The above are my own views and as usual dyor.
Last Casp rns: “ Discussions continue regarding both additional commercial charters and / or sale.”
If Clive could have put a positive spin on the sale of the boat he would have but that statement tells me there are no buyers at asking price.
Personally, I’m glad they’ve not been able to sell it as imo the true value of CE will only be realised after the first contract.
If ENi are successful with their drilling I think will make an offer for CE
Last 5 days GKP is up 18%
Last 1 month GKP is up 2%
Hold for gold.
The two hedge funds which are currently short have about 2.6m shares. Let’s say they went short at £1.10p. Even if they manage to take the price down to 50p they would make about £1.6m. Now that is a lot of money for us PIs but peanuts for this hedge funds. They are using the shares to suppress the share price so they can keep buying at a cheap price.
At some point they will have loaded up and this share price can then move forward.
GKP are making £3.5m net profit with the pipeline closed. What do you think will happen to the share price when the pipeline is open?
As usual dyor and Atb to true shareholders here
Don’t be an itsaponzi and be more adventurous.
https://ukinvestormagazine.co.uk/gulf-keystone-petroleum-shares-look-good-value-for-adventurous-investors/
I like this “ The company is reasonably well-capitalised as a result of the cost-cutting exercise and securing local crude sales. As of 30th August 2023, Gulf Keystone has cash balances of $82m and no debt. Cash was $80m earlier in August.”
No idea when the pipe is going to open but £3.5m net profit a month is not to be sniffed at.
Gkp said in the investor presentation that 42k bopd is the maximum they can sell via trucking. Now that crude is getting delivered by pipe to a refinery this limit will no longer apply.
Https://www.middleeastmonitor.com/20230924-turkish-added-to-official-languages-in-iraqs-kirkuk/amp/
Arb to all shareholders
lies, lies and lies or otherwise known on this board as itsaponzi, arm-ass and ccc.
first of all the barzani letter is old news and pre dates the rise in the share price. here is the article https://www.al-monitor.com/originals/2023/09/letter-biden-barzani-warns-iraqi-kurdistans-collapse-urges-mediation.
as for laughable suggestion that the us did not respond we’ll surprise surprise - https://www.kurdistan24.net/en/story/32569-u.s.-calls-on-iraq,-krg-to-settle--budget-dispute-in-way-that-%e2%80%9cbenefits%e2%80%9d-iraqis--as-%e2%80%9cconstitution-requires%e2%80%9d
i don’t know if you’ve noticed but baghdad approved to pay erbil last 3 months salary and setup a process to pay next 3 months whilst they review the budget. https://www.thenationalnews.com/mena/iraq/2023/09/17/iraq-federal-government-mulls-request-by-kurdish-region-to-increase-budget-allocation/?outputtype=amp.
"this new deal guarantees that our citizens will receive their salaries in full and on time," mr barzani said.
looks like you boys **** the bed and sold last week and looking to buy back in buy but come on be inventive with your reason why share price will fall.
there has been no wholesale selling by institutional investors in fact blackrock increased their holding by 1.5m. the only people selling here are pis.
unlike these oracles i don’t know whether the share price will rise or fall but what is clear to me is that things on the ground are moving in the right direction so i’m going to hold and let it play out.
atb to all genuine shareholders and as usual dyor
CCC wrote: ‘ Asked whether an agreement with Baghdad is imminent, the 59-year-old Dizayee said “probably no. ’
CCC it seems your copy and paste missed out the full paragraph in the response.
Asked whether an agreement with Baghdad is imminent, the 59-year-old Dizayee said “probably no. But there was an air of optimism. We came back after midnight last night from Baghdad, we seemed to be relatively happy with the meetings, but as they say, the proof is in the pudding.”
Must be a bug in the copy and paste. Good find by the way.
Atb to all genuine shareholders
Invstrat wrote: GKP are betting their continuity on ‘local sales’ …. and the locals know full well that the management do not have the cahunas to go after unpaid bills for these local sales - so roll up, roll up….. and fill yer tankers the brim …. it’s free.
The rns and investor presentation makes clear that GKp and other IoCs are getting paid in advance.
The threat of placing is if the local sales diminish. Why would they with the price of crude someone is filling up at less than half price lol.
Now if Baghdad find a way to cut off trucking then GKp and other IOCs are in trouble.
ATB and DYOR