Member Info for PUTUP

I'm not an insider. No financial director would let this company's cash on hand decline below $50 million or so if there were options to keep it above and have more breathing room. The question is whether there is support for any options... And it takes time (months) to execute a transaction if one is possible.

Panic creates opportunity. Stock is cheap again (even writing off receivables) if you believe oil will flow in the 4Q '23.

Agreed

Apologies - wrong thread. Written in response to Itsaponzi.

"How much cash does gkp have left $83m with a $6m per month cash burn surely they can half that now or less ?? "

On June 15 they had $93 million in cash...

"Where do you see the next support if this level is breached?"

The price of the emergency rights issue

What would you have them say that they haven't already?

Back to (weakfish) technical support levels

But tick tock tick tock

Paired with Sells

Tick tock tick tock...

The KRG has the dividend money. Sizeable future dividends can only come from the overdue receivables.

"Yield at these prices"

LOL! How's the yield been over the last 12 months? And when do you expect the next dividend to be paid?

At resistance here. Support at 105/6p. Will be interesting to see if the resistance can be broken. Likely challenging absent some real news.

"Yes the KRG owe GKP in access of 100 million,"

More like $150 million or so in receivables. Plus another circa $75 million in GKP's share of the CRP balance. If you think the receivables balance can be repaid without new production you're nuts.

I've no idea. We need a lot more clarity - and transparency - on pricing. That being the point I made below. For now I am assuming Shaikan oil is sold at Brent - 23.2 - 9 (after transportation costs)*. I will amend as new information comes to light.

*From there we all should now be familiar with how to derive the monthly receipt to GKP from which must be deducted monthly lifting costs, direct Shaikan G&A, capex and corporate o/h to get to monthly cash generation.

And you think that offers clarity as to the price at which Shaikan crude will be sold it (versus an international, readily observable, benchmark such as Brent)?

Oh I'm invested. But I have never expected a speedy resolution to these issues once they appeared. And I trimmed following the Genel announcement re the move to KBT and before GKP shareholders woke up to the impact of such. I wish, of course, I had trimmed the lot...

For a substantial sustained rally we need (in no order of importance):

- pipeline reopening and very speedy production restart (the market is currently pricing a return to full production in early 4Q)

- clarity on how quickly receivables will be recovered (for now these are fully discounted). Don't expect any dividends until these have been received.

- clarity that the current PSC will be honoured

- insight as to what the "additional discount for KBT" is likely to be going forward (for now I am assuming $9 per barrel which is the average of what's been disclosed thus far)

- better insight into production levels in 4Q 23 and 24 and the level of investment required to meet such guidance

We're not going to get all of the above in one go and I'd expect any initial euphoria associated with pipeline reopening to quickly dissipate without clarity on some of the other points listed above.

Until we get some proper news keep on blabbering on.

And you all thought the solution would be quick.... Ha!

Don't forget that the pipeline closure was just one of the issues that took the stock price down here from early March onwards...

I don't believe the KRG were on that call describing how they we're going to pay the 51p per share of receivables...

It's all blah blah blah with the stock range trading until there is actual news of substance. Now writing off the first half of August to zero production. Stock is surprisingly well-priced in the absence of receivable payments.

Phat doesn't understand where the dividends were coming from...