Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
I have 500k shares here at 10p approx.
See below from Oil and Gas Tracker;
#HUR - The windfall tax will also have significant negative impact on Hurricane Energy, the company has basically no capex in 2022 to offset the new tax with. The new tax will reduce economical life of the field, without new wells.
Yes PUTUP’s calculations could make the most sanguine accountants reach for their spectacles.
However as mentioned before GKP seems, at present, to be carried along on understandable (not irrational) exuberance. Driven by signs of a thawing in the Baghdad-KRG stone throwing, high rising oil price and general company outlook.
Enjoy the ride fellas.
It’s time for an alter ego to stand up.
PUTUP is correct, do your research, make your own decisions, take a deep breath. Don’t tread impulsively into short lived fairgrounds. Cash doesn’t last long there.
PUTUP our disagreement regarding the dividend v buyback debate seems to have become unimportant recently, as does your carefully extrapolated CRP and profit oil figures.
So too, my “It’s all about the payments” mantra.
No doubt those considerations will arise again in the future.
I speculate that as Shaikan oil production rises, the FDP cost will become a hotly debated topic. In the meantime we will continue to enjoy the escalator, with the sideshow distractions of Baghdad’s revanchism, religious/political extremism, oscillating oil price and war.
But we’ll go silently one day, our alter egos scattered across the LSE autobots.
PUTUP you may be correct in suggesting that there is some selling from a large holder. We just don’t know.
My guess, looking at the superficial picture, is simply that people, in unusually large numbers, are buying and selling for a quick profit. The picture is accentuated, in a small relatively illiquid stock.
In the background we have “respectable” investors worrying about our unreliable paymaster, the KRG. It appears that Genel and DNO have not been paid for November. The KRG is in a parlous state, it hasn’t received it’s share of the Iraq budget. Baghdad is sheltering behind the Supreme Court judgement and is taking a hard line stance to negotiations; https://www.iraqoilreport.com/news/uncertainty-deepens-after-landmark-ruling-against-kurdistans-oil-sector-44651/
The long term view of success is difficult to cling to, when uncertainties are so potentially destructive.
I continue to hold a substitute position here.
damofari, the oil price hasn’t yet hit warp speed into it’s great crescendo, propelled there by greed, fear and extraordinary world events. You may be correct about the 2 year average, but right now we’re seeing a Black Swan spike under a blindingly white cloud.
PUTUP yes of course the PSC still applies to those of you with gin-clear foresight. But step aside now for the carpet-baggers with their sharp elbows, else you might get poked in that gimlet eye.
PUTUP your calculations are fascinating and of great long term interest.
However the present crisis brings now a focus on immediacy, which will obscure your painstakingly explained revenue expectations.
The POO spike will now surge exponentially to a stratospheric cloud burst. It will take with it GKP and others like it.
Your long term observations and mine, on the randomness of payments can, for now be disregarded.
This really I is a great relief. It appears to show willingness of the KRG to make payments despite Baghdad’s failure to send the monthly share of the Iraq budget.
The market will be impressed.
Ok PUTUP it looks like you were correct. I’ll even read your future CPR dissertations with respect.
You guys still don’t seem to have grasped it.....maybe it’s the optimism of naivety or incurable Nelsonic blindness.
Remember the oft repeated mantra, it’s all about the payments.
PISTUP, putting aside your navel gazing gobbledegook for a moment, give us your thoughts please on r
a solution of the KRG financial impasse arising from the Supreme Court ruling. With usual condescension of course.
How low can it go?
At the risk of unnecessary repetition. The answer lies in the question “How long until settlement of the November invoice and the signal therein that the KRG has found a steady fiscal pathway ”?
Discuss please using post 1918 Middle Eastern upheavals and crystal ball reference material in not more than 4 sides of toilet paper.
Hint, oil price is irrelevant.
Congratulations, you dudes can’t be fooled. Me and PISTUP share chicken wings and popcorn. It’s dark here on the East Coast. But darker still in Eastern Europe. POO has smashed $100. But when will you guys understand the immediacy and gravity of the problem posed by the KRG’s resurfacing inability to settle it’s accounts?
PISTUP’s technical analyses are sometimes interesting. But always overly verbose, betraying both his Narcissism and personal vacuity.
He’s a fool ignore him, he feeds on the attention.
Anyway, the seriousness of this month’s late payment will weigh heavily on our (klassic/pistup’s)investment until the cash camels arrive from Baghdad with the KRG’s civil service salaries.
The November payment if received would give tremendous confidence to the market. In the past we’ve seen these delays drag on with severe deleterious effect on the company’s capital value. We need relief, or some comment from the company on remedial action. It’s clear the KRG is once again struggling to cover both it’s domestic and industrial financial obligations. Of course we need a Baghdad-KRG compromise to release the KRG’s share of the budget. We don’t know if the KRG has complied with it’s 250k bopd obligation. There is no clarity on that, nor possible avenues around the Supreme Court ruling which has purported to vitiate the IOC contracts.