The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo has just been released. Listen here.
Not surprisingly, nothing new in that at all.
Reiterated prior update re production of "around 33,000 bopd". (FWIW I have 35k bopd pencilled in for October, 40k bopd for November)
Those expecting the $151 million will be recovered before restart should note "paid for SOME of those arrears"
"would consider opportunities outside of Kazakhstan". LOL oops!
"highly prudent $ 15 /2p "
Profit oil per barrel is only $4.20 per barrel currently and declining with R Factor. From this they need to pay corporate overhead costs. This is earned over time. And yet you think $15 per barrel up front is prudent? Muppet.
If only you had money to buy the stock up
A lot (sometimes most) of trading is conducted off-exchange (off-book) but those trades still need to be reported and you see them going through. What you see marked by some services as a "buy" or "sell" is exchange order book trading (AT = trading through the SETS order book). The buy/sell categorisation is, however, rather misleading. For example, if a seller is aggressive on the offer (in SETS) with good volume to get done, their aggressive (low) offer can get hit. Are these really "buys" or "sells"? Perhaps without the aggressive offer few or less trades would have been conducted. Was the pressure coming from buyers or actually from an aggressive seller (or sellers)? Of course, every single trade has a buyer and a seller so the marking is utterly meaningless under any scenario. All you can really conclude is that a trade for x volume took place at y price. Furthermore, you also can't conclude whether any off-exchange trading was done with just one buyer and seller or multiple of any or both.
Nah. I'm just a human BS meter and that meter is in the red big time when reading the cr*p you post.
You've been here before with the same BS and none of it has ever proven to be anything other than that.
"Ummm GKP share price is always falling because it has paid out dividends, so why do other companies who have been paying out dividends for years not fall in the same way as you suggest."
Because their dividends were being replaced by earnings. Here, GKP was paying out the CRP as it was received. Excess capital. Quite a peculiar situation and core to understanding the GKP value proposition. Off balance sheet asset monetized to cash which was then distributed. (Of the $151m currently owed, $121 million or so is CRP recovery. There isn't that much more to recover.) Once again, dividends pay out value - they don't create it, and if you are paying out more than you are creating then the stock price has to fall to reflect it.
Not sure what you are referencing re "84 pence was being paid out of the company" but if you are asking about what factors are embedded in the price fall then there is at least the following:
1. It was overvalued to begin with
2. Dividends were paid out - lopped 40p or so off right there
3. Dramatic fall in the price of Brent
4. The move to KBT pricing (announced when the price was circa 208p) - very significant
5. Non receipt of receivables
6. Pipeline closure
The only positive during that time was the brief hitting of the long promised 55k production target
Yes, there will be capital distributions when and if the $151 million is received. And the value of them will come off the stock price when it goes ex (cash out = value down)*. Dividends don't create value. They pay it OUT of the company.
But when will the $151 million be received? Anyone who thinks it will be received in a single lump sum prior to the pipeline opening is absolutely nuts. (And current cash is closer to $85m than $100 million.)
* Muppet Jakelamotta has commented that large shareholders such as Lansdowne Partners Austria GmbH (not a hedge fund BTW) haven't sold shares. No, they haven't, but they've been extracting their capital out of the GKP play via dividends. In fact, they've got all their initial risk capital back already. There hasn't been a desire to sell given the rate of extraction.
No one other than the seller and their broker know when and at what levels the first 0.5% was set for each firm. They’re not required to disclose until crossing that threshold. Furthermore you have no idea about their portfolio dynamics nor their intentions. Stop spouting absolute cr@p.
Every now and then this same idiot pipes up here under different avatars spouting the same bs. He has absolutely no idea what he’s talking about. Complete charlatan.