Member Info for Nobodyspecial

Oh come on SS. You know many reasons why many would have little positive to say about their GKP investment at the moment. And probably even why they still might not be feeling positive when the voting results come in on Friday.

I know you didn't call me out directly for my negativity towards JF, so no harm no foul, but surely you can understand why normal investors, who have no hidden agendas, who are not working together in orchestrated groups and who are just having a good old moan at 5 years of going nowhere and being underwater, might not be singing GKP's praises at the moment?

You seem chipper about the future. I'm less so, for reasons I have alluded to before, though that doesn't change the direction I want to see the SP heading in i.e. much much higher. I'm in no orchestra.

To finish, I posted in the past that I had added more when we hit the 50 mark. I've actually got some GKP stock that will have 1 bagged at the lowly price of just £1 and could earn some chunky dividend returns in the future. So that's a positive.

IMO

All the best

SS just now - "I suggested nothing"

SS at the start of the thread - "You would almost think this is orchestrated."

ElBigBear, see above.

Good day all.

I wouldn't.

You only need to look at the share price, recent RNS's and JFs greed to understand any negativity posted by LTHs like myself. Anyone who suggested that I was working in concert with some higher power, for some ulterior motive, other than satisfactory C level performance, would be embarassing themselves at the same time as causing offence, for being as disingenuous and blind to inadequacy as Ferrier himself.

There have only been 27 posts on the board today as I write and almost 25% of them are about SS's original comment anyway.

Compared to the volume of posts I've seen daily on II or this board for GKP in the past, this is a sleepy day. Compared to the volume of daily posts on Covid plays, this board's on mute.

Deafening crescendos? Orchestration?

Hardly

IMO

Ring ring, ring ring

“Hello?”

“Ah John, there you are. Very good. I wanted to talk to you about the Shaikan invoices. I told you I’d call.”

“Ah, your most high eminence, thank you most obsequiously for calling. Sir if I may, It’s Jon sir. Jon with a Y. Not John sir. The J is sil…”

”Yes of course John, of course. Listen…didn’t you tell your shareholders that Shaikan will be at 55k a day by now?”

“Yes your most high eminence.”

“You haven’t done that have you?”

“Uh, no sir, but..”

“No I thought not. It’s funny. You showed up in summer 2015 and in March 16 you told your shareholders it was an interim project that could be completed in a year, for between $71m and $88m. Ha ha. Woops! Remember?”

“Uh yes sir.”

“And back in Jan 2019, nearly 3 years later, you said it would be done by early 2020. Do you remember that?”

“Uh yes sir”

“Early 2020 hey? It’s mid June. You haven’t done that have you?”

“Uh, no sir, but..”

“Right, so you’re what, roughly 17k bopd short at the moment, yes?”

“Uh yes sir, roughly.”

“OK. I’m a fair and reasonable man. I’ll ignore the 2016 comment, you were new and you didn’t know any better and I’ll be a sport and start from 1st June, allowing you a little wiggle room for the miss in early 2020”

“Uh, I’m not sure I follow your most high graciousness”

“Well John, you’ve lost us “roughly” 17k barrels a day in Sovereign revenue for every day you missed your own targets. Now Baghdad and the Orange one are making noises about some crazy sort of non kleptocratic, voter appeasing, budget sharing agreement that’s threatening our control over the oil cash. I can’t have that. Baz and I need to maximise liquidity for repairs on the roofs of our many many mansions. You know this John. We won’t tolerate delays anymore.

So, to compensate my struggling brethren for your tardiness, I’ve decided to deduct “roughly” 17k bopd starting from 1st June, from your invoice for last month.

And of course, because of the payment arrangement I agreed with the other CEOs, when you were out getting the biscuits, it appears that you now actually owe us money!

How about that? Good isn’t it? I was very happy. It ‘s a bit like Sheik Adi all over again when you do all the work and we get all the reward. I’ll pop it all in writing in the 2nd Amendment. Honest.

And, even better, we’re claiming that we’ve cut 17k bopd to bolster Iraq’s OPEC compliance efforts. From production you never even delivered in the first place! Ha ha! It’s genius. Everyone’s a winner. Even you, with all those non performance related options you get. Fair play, that’s daylight robbery if ever I saw it. You’re a chip off my old block aren’t you hey? Who knew? Park further invoices for now old boy, I’ll call you again if you’re still in the job when Brent hits $50 and let you know what my new plans are to retain the cash we owe you then. OK? Toodles John. Good chat and good luck. Bye”

I’m sticking to last month’s predictio

HL and others - I contacted Computershare. They advised that as I wasn't a registered holder with them, I would need to ask my broker to get me the link.

Bear in mind if you're not on the Computershare Register.

SS - But they could if they were aligned with others

"Could" and "if"

The only certainty there is that it's uncertain. With my 11th AGM coming up, my experience is that my voting has not been aligned with the voting of the majority holders. Nevertheless, I continue to express my contrary wishes regardless and I "could" sell all my shares "if" GKP's major stakeholders ever colluded to deliver Shaikan's value before the PSC expires, rather than destroy it.

On the subject of IR responses, yes, "in principle" they are supposed to respond.

In principle, the KRG are supposed to pay us for the oil we produce and the expenses we have incurred.
In principle, CEOs who repeatedly miss their own deadlines, should not then be rewarded for missing those deadlines.
In principle, nobody can possibly have made such a contribution to the health of the company recently, that they deserved to be awarded 750k free shares after only 3 months on the job.
In principle, the point of buying back company shares is to cancel them.

The idealistic, principled governance you suggest is there to allow shareholders to raise concerns is blatantly not. I'm not alone in holding this view and I have seen numerous posters concur over the years, both here and on II when their emails were also flatly ignored by GKP IR. With respect, I am not talking in principle. I am talking in fact, as someone who has already, repeatedly used the governance mechanisms you talk of and as someone who knows, first hand, that they don't work. Or rather, that they work perfectly well, but only if you hold secured bonds, several million shares, or if you're the KRG or CEO of some other Kurdy oiler!

And yes, we are agreed the boards are for the discussion of differing views.

In principle.

But look how that turns out most of the time :-)

Excuse my cynicism, but after a 10 year GKP stretch, I've earned it. I've already posted the questions I've asked. I think I listed nearly a dozen of them in a previous post ranging from the absence of JF's own skin in the game, to the disposal of Sheik Adi, to the discrepancy between the Shaikan discount and the fact that sour, heavy Kurdish crude has reportedly been sold at a premium to Brent in the past due to high refinery demand. Let's see how many are answered.

Enjoy the sunshne and good luck all.

SS - we'll have to agree to differ on your last paragraph. I would argue that "some" shareholders who wish to vote against JF can do so at the AGM. And they might have an effect on the outcome. But with my paltry hill of beans, I won't be in that club, so my votes count for nought, as has been the case for a good long while now.

As far as submiting questions is concerned, I daresay mine will go the same way as every other request for information I've ever put to GKP's IR department since AV left i.e. nowhere. They simply do not reply. Yes, I could take it up with the NEDS, but I see them as part of the problem (Angle on remuneration for example) and therefore they are unlikely to want to be part of the solution.

You appear confident that the board are aware of PI views. How so? And more pertinently do you know if they are prepared to do sweet FA about those views?

Fair point. It's a bit like comparing Messi and Ronaldo.

With the now departed TK playing the Maradonna role (I considered Pele, but the similarities in nature between Hand of God and Gokana were too strong. Zidanne's red card at the end there also seemed fitting, but for outright brazen cheek, it had to be Maradonna ;-)

Good weekend all

Highlander, are you sure?

It's a close call between him and the KRG, the long term partner that never fails to provide JF with a convenient excuse. IMO they've had a consistatntly detrimental impact on GKP but for a longer period. I reckon they just about nick it from JF, but it's close.

FH1 - In case my contributions are considered part of the trolling, on the contrary, I'm attacking JF cos he's rubbish, so he can toughen up and start adding value, instead of pocketing it, whilst other Kurdy CEOs appear to be doing deals with the KRG that he knows nothing about, that are affecting the company he's supposed to be running.

I'm not trolling the company or the asset I have long been invested in, I am trolling JF for his ongoing failure to realise its value, for missing his own deadlines repeatedly and for having the nerve to claim millions of free shares as a reward for failing to meet his own targets (amongst plenty of other things).

My conern is that on past performance, he is a very real danger to the board accepting a low ball offer, as his interests clearly don't seem to be aligned with "normal" shareholders' interests. He's never bought any of his own shares, so why would he care if he sells others short? He'll still make millions. For me, it goes without saying, though perhaps I should have, if he has the nerve to add insult to injury by recommending a lowball bid, that will be, by far, the largest of all his crimes against shareholders, IMO.

All the best

I expect this now means that as the KRG had zero to pay, and they paid zero, JF now believes that he secured the payment on time and is due another million free shares as a bonus for further "success".

The recent GKP RNSs clearly indicate that JF only finds out what's going on with the KRG, when he reads RNSs produced by the real, tier 1 Kurdy CEOs who actually get an audience with the KRG.

He's utterly out of his depth. He was sent away by the grown ups to get the biscuits the last time he showed up for discussions with the KRG and the other CEOs. The conversation, it seems, went something like this ...

Dr A - "Who are you?"
JF - "I'm Jon from GKP. The new CEO, your eminence"
Dr A - "What? Where's Kozel gone?"
JF - "He's gone. I'm in charge now, your most high eminence "
Dr A - "Shame. I liked him. He knew some great strip clubs. Top lad he was. So you're running Shaikan now are you?"
JF - "Yes sir. I aim to be boring and Heath and Safety is my number one priority, your most high and mighty graciousness of great repute."
Dr A - "Is that right? I see. Good to know. Where's that old boy from the French Foreign legion? By Allah, he had some stories."
JF - "He's gone too Sir, your most welcoming benevolence."
Dr A - "Oh what? I liked him too. Mad as a box of frogs. What's your name again?"
JF - "It's Jon. Jon Ferrier your most gracious magnificence of tremendous import, Sir"
Dr A - "Did you say John?"
JF " - No sir, It's Jon. The J is silent, your most understanding and notable greatnessness Sir."
Dr A - "Oh how right you are there John. You said it my man. Why dont you just sit over there and stay silent while myself and these other fine oil men here have our little chat. Actually no, wait a minute. Go and get us some biscuits will you John? There's a good man. No rush. I'll give you a call about those inoivices soon, after I've spoken to my broker. Cheerio. Don't call me, I'll call you."

Dejected and humiliated, silent J Jon left to go and comfort eat by filling his own cookie jar at shareholders' expense and today's RNS of a zero invoice is clearly JF's way of taking the biscuit, straight back to his masters at the KRG table, as requested.

Look out for next month's RNS when we find that JF has invoiced for the princely amount of £6.95 and takes the biscuit again, by annoucing that the KRG have paid, on time. With Avios.

Dear oh dear.

All just IMO.

IIV - They're the KRG. It's the G bit that counts. I would imagine, if they felt like it, they could use gunpoint.

They appear to give absolutely zero hoots about GKP's CEO or GKP as a company. If GKP goes bust, they will simply replace them with another oil company and carry on getting rich.

It has happened before.

The payment RNS should arrive any second.

But most, I imagine, were saying that on Monday morning, giving allowances and time for the KRG to process the payment.

Our "boring" CEO does not appear to know anything about this new agreement and wasn't apparently at the table with the other CEOs were discussing it with the KRG.

And we certainly have no clue what, if any at all, the consequences/penalties are for the KRG for late payment.

realm? duh. Helm!

IIV - there's the missing payments as just posted and the KRG imposed a new agreement on the Kurdi oilers, a couple of months ago, promising to pay them for the previous month's production by the 15th of the following month.

They paid last month.

Nothing this month. No comms from the company. Hence the anger on the board towards the Board, with PIs suspecting we're about to get shafted by the KRG all over again with a hapless puppet at the realm.

Now there's a question!

JF - You're kidding me. You can't be serious. He's definitely a contender.
KRG - Hilarious bunch of jokers (when they don't owe you $Ms). They've got to be kidding.
Kozel. Ha ha. He was definitely kidding. All the way to the Gokana, oops sorry, I meant bank.
Rex. Good ole Rex Wempen, the Court Jester!
Dynamic Global Advisors. Who? Where's Ryder Scott? Where's the oil gone? Are you kidding?

Uhhhm who else did I miss?

Oh yeah, Kimberly Wood, Martin Angle and David Thomas, the remuneration commitee. They've got to be joking. They're absolutely kidding.

Yeah. Exxon wants us at £8.00 a share. Haven't you heard?

Oh sorry, that's old money. It's actually £800 a share now :-)

I jest, but yeah, you would have thought so with an asset like Shaikan. But apparently you don't need to buy it. You just buy the bonds instead, short the bejesus out of the stock, then take ownership of the company for buttons when the KRG, stops paying for the oil. Which is.....now.

Again.

Don't forget waxing lyrical over the excitement of Sheik Adi's synergies on GKP TV, only to subsequently give it and millions of dollars back, after those who came before him had already done all the work to prove it was a massive oil field.

Don't forget short changing the shareholders on last years dividend

Don't forget scrapping the much heralded and vaunted dividend only 1 year after first introducing it. I still believe it should have been paid instead of shelling out for the seemingly pointless buyback.

Don't forget that he, the rest of the execs and the NEDS, genuinely believe that the "shareholders" willingly voted for everything they are now carrying out on our behalf. They know that in reality, only a handful of people support them, but that's all they need and tens of thousands of other shareholders' opinions and hundreds of millions of their voting rights simply do not count. They are disingenuous liars and will do nothing, no matter how many times you write to them. Oh yes, they will write a response. But the response will be "You voted for it" becuase "we" did. I didn't. I'll bet all my GKP shares that Highlander certainly didn't vote for anything that involved JF's continued presence. I'm pretty sure there are at least 10 people who post on these boards who didn't vote for any of this and that if we took a simple show of hands, the "real" consensus amongst shareholders under a proportional 1 man 1 vote system would see JF out the door immediately with a clawback on every bonus share ever given to him and his cohorts. But there we are.

I wonder who's got our money this month?
a) Cashti's girlfiend
b) Baz's girlfriend
c) The Board's cookie jar bonus pot
d) Some dodgy bank
e) All of the above

GL all. Oh how we need it.

Please resign JF. Just go away. You're awful. Just a total, utter laughing stock. Five years and you have done nothing. I appreciate that I know sweet FA about what is really going on with the KRG, but there are clearly 2 leagues over there. There's the league where you get paid on time and you get your PSC sorted, and then there's the league that your leadership puts us in. We are not even at the table when other oilers are getting the KRG to sign agreements. You simply don't have the KRG's attention or respect and I genuinely believe you be a happier individual in life if you went somewhere "boring" because you're not cut out for this. GKP should not be "boring" with an asset like Shaikan.

Thought this was interesting video from McLaughlin. Apologies if already posted - I hadn't seen it.

https://www.ulster.ac.uk/coronavirus/research/support/uk-rapid-test-consortium

20-40% daily as the first Shaikan results were coming out and the millions turned to billions.

Similar during the Exxon pump n dump.

Whether they can now be described as "good" daily increases, in light of what happened, well that's a different question. I expect those that they were good for are not LTH's anymore - Gokanna & TK being a prime example.

p.s. apologies for replying on wrong thread EH