Member Info for Mulder

Surely there are alterative pipelines that can be used? Why so reliant on Ceyhan?

Experienced new CFO with a good track record.
Inflation falling, consumer holding up.
Need to get this share back to 200p+

Should be interesting. Potential for major announcements. Iraq continues to lose revenue each day the pipeline remains shut.

https://www.shafaq.com/en/Iraq-News/Baghdad-to-allocate-funds-for-public-sector-salaries-in-KRI

People asleep at the wheel here...

Must have confidence in the future!

I suggest others do the same.

Do you mean take over chances rise significantly if new contracts are signed?

Do we expect Baghdad to pay a higher rate and what sort of terms/commission?
Surely they can't be any slower than the KRG in payments!

Anyone know?

Net cash, amazing balance sheet, special dividends will return...why is this in the 1500's?
Short seller rigging the markets yet again
High chance of bid

**Nothing to add here nor anything new, my recent comments after speaking to GKP still stand.

Gulf Keystone Petroleum
Gulf Keystone is providing an update on its announcement dated 27 March 2023 regarding the shut-in of the Iraq-Turkey pipeline on 25 March 2023 and suspension of exports. GKP announces that it expects to shut-in production processed at Production Facility 1 (“PF-1”) today, while production flowing into Production Facility 2 (“PF-2”) will continue into storage tanks at reduced rates for around another two weeks before also being shut-in. The combined storage capacity at PF-1 and PF-2 is approximately 150,000 barrels.

The Company understands that discussions between the Kurdistan Regional Government and the Iraqi Ministry of Oil are ongoing and continues to believe that the suspension of exports will be temporary.

GKP is closely monitoring the situation and will provide further updates to the market, as appropriate.

Nothing to add here nor anything new, my recent comments after speaking to GKP still stand.

Ash has decimated profits
Balance sheet is awful with high debt

Both KRG companies I follow have said that firstly it is important to realise that events like this are built into their models and that there is ample scope for continued dividend payments and in the long term a beneficial effect may be achieved by greater cooperation between the KRG and Baghdad on oil policy, either way it’s in nobody’s interest for this situation to continue.

A senior official from an oil company operating in the Kurdistan Region on Thursday told Rudaw that he expects the global pressure to increase regarding the recent halt of Kurdistan Region's oil exports to Turkey.

“I expect the pressures to continue to increase as long as the oil is shut in as long as it continues to impact global markets. And there are a lot of losers here. Turkey is a loser in the situation Iraq itself is [as] it is losing a significant amount of revenue particularly just right after a Baghdad-Erbil budget was made,” Matthew Zais Vice President of HKN Energy told Rudaw on Thursday.

“The international community is losing. A lot of volumes from Kurdistan were going to Europe, which were offsetting Russian volumes,” he added.

“It is affecting everybody and every day that goes by there is gonna be a renewed pressure to come up with some resolution,” he noted.

The International Chamber of Commerce (ICC) arbitration court ruled last week that Turkey had breached a 1973 pipeline agreement that obliges the Turkish government to abide by instructions issued by Iraq regarding the transport of crude oil exported from Iraq.

The process of oil exportation from the Kurdistan Region was halted on Friday and is yet to be resumed.

Zais said that they have not stopped production .

Bargain share price
Net cash
Very low multiple for earnings mid single digits
Dividend double digits
Yes a bargain at 87p! Added

Still growing.
Take out exceptional costs and S4 made a decent profit.
Forward adjusted P/E is around 10 which is low for a growth stock.

Turkey’s energy minister on Wednesday denied reports that Ankara has been fined by an arbitration court in Paris for failing to comply with an oil exportation deal with Iraq.

"There is no fine. There is a large comprehensive report and there are some sanctions related to it. There are no unilateral sanctions. Four out of five issues claimed by it [Iraq] were rejected, one was accepted," Turkish Energy and Natural Resources Minister Fatih Donmez said on Wednesday.

"We had our claims and demands. Out of six demands, five were accepted and one was rejected. Based on this, the sanctions are now being evaluated by our friends, lawyers. We have an agreement already in place with the Iraqi government,” he added.

Turkey’s Ministry of Energy and Natural Resources said in a statement late Tuesday that Iraq had violated the agreement and should pay Ankara compensations.

“We fully support the export of the Kurdistan Region’s oil abroad and we should hurry to reach an agreement for the oil to be exported,” Assim Jihad, spokesperson for the Iraqi oil ministry

Baghdad (IraqiNews.com) – The Oil, Gas and Natural Resources Committee in the Iraqi Parliament revealed that federal oil and gas law will be agreed upon soon, the Iraqi News Agency (INA) reported.

Committee member, Zainab Al-Moussawi, explained that there is an agreement between Baghdad and Erbil to enact the federal oil and gas law soon.

Al-Moussawi indicated that discussions are underway concerning a draft law to resolve the disagreements between the central government and the regional government.

The Iraqi MP mentioned that the law will oblige Kurdistan to deliver its oil revenues of approximately 500 thousand barrels per day to the public treasury.

Baghdad, Erbil and Ankara are working to reach new understandings to regulate oil exports from Iraqi Kurdistan to the Turkish port of Ceyhan, based on the final ruling issued in favor of Iraq in Paris.

Kurdistan Regional Government (KRG) accepted the ruling issued by International Court of Arbitration of the International Chamber of Commerce to stop exporting oil under the supervision of the regional government to Turkey through Ceyhan.

https://www.iraqinews.com/iraq/baghdad-erbil-to-agree-on-oil-and-gas-law/