Member Info for ocelot

:-)

Lemming,

Hope you're right, but the article I posted simply gave PM Barzani's viewpoint, so doesn't commit Baghdad in any way.

JL,

Personally, would much prefer Genel to avoid GKP, develop what they already have in Kurdistan and push ahead with Somaliland, when they are in a position to do so.

Almost, but not quite

UT: 290.00p

Erbil (IraqiNews.com) The Iraqi central government does not oppose gas deals between Kurdistan Region and Russian giant Rosneft, Kurdistan Region’s Prime Minister Nechirvan Barzani was quoted saying Tuesday.

Kurdish-owned BasNews website quoted Barzani saying, during a press conference following a cabinet meeting, that “the contract signed with Rosneft is a trade issue”, adding that the document “had been signed within the frame of the Iraqi constitution that grants Kurdistan the right to explore and export oil”...

https://www.iraqinews.com/business-iraqi-dinar/barzani-iraqi-government-not-opposed-to-kurdistan-rosneft-deal/

PS: think it should be trading on a premium, not a discount, to net assets!

At 298p, discount to net assets is 35.4%.

Good post, Lemming - thank you.

... Companies sit on $337 billion of foreign-exchange liabilities, with a shortfall of $217.3 billion net against assets, according to central bank data. Bank borrowing costs are also rising ahead of more than $100 billion in debt payments coming due over the course of a year...

https://www.bloomberg.com/news/articles/2018-08-07/as-turkey-markets-sink-speculation-of-extreme-measures-spreads

https://www.genelenergy.com/media/2216/genel-hy-2018-results-pres-final.pdf

above $74, therefore.

https://uk.reuters.com/article/uk-genel-outlook/genel-energy-expects-significant-2019-output-boost-idUKKBN1KS0OL?il=0

· Net working interest production currently c.35,500 bopd

v 32,100 for 1st 6 months,

So, currently up 10.6% on 1st half-year.

Net assets of $1,672.9m

@ cable of 1.30 = £1,286.85m

= £4.61 per share.

Net cash flow from operations was increased as a result of higher revenue to
$125.1 million (H1 2017: $114.2 million), with last year benefiting from
$50.9 million of one-off positive working capital movements relating to the
overdue KRG receivable.

So, on comparable basis, net cash flow from operations up from $63.3m to $125.1m, ie an increase of 97.6%.

These are a very, very solid set of results: the future is bright.

understood - you have my sympathy.

Maybe try to trade a bit, selling part of the position on strong up days, hopefully buying back in again a bit lower on down days.

Might enable you to reduce your average cost, ... or may mean you miss out on the next spike!

skuncik,

Can't take advantage of down days to reduce your average buying price?

brotherant,

You maybe right about the timing of his sell.

As for the future, I certainly hope you will be proven right, because, if you are proven right, I will be, too!

investor112,

If you were intending to sell, why didn't you do it on Friday and take advantage of that day's rise?

Don't know about cats: in Leytonstone, it was a Boa Constrictor which took care of one of the pigeons!

the manual recount of the votes in the Iraqi elections has been completed.