Member Info for PUTUP

They also have plenty of free sunshine.

Just because the project costs that much doesn't mean the KRG need to fund that amount.

Swell, retail participation has long been used by professional investors as a contra-indicator as they have a tendency to buy high and sell low.

The difference now is that the obligor has been removed from their position but their replacement hasn't underwritten those obligations. There are far fewer incentives for them to pay the receivables unless the oil companies refuse to restart until payment has been assured.

As for hitting £3, yes it did. And a lot of cash has been paid out and other factors changed for the worse since then. It needs a hell of a lot to go right to recover that level.

"However, as I for one have accepted the probability that all is now agreed on the Iraq side it stands to reason that the company have been offered the terms of a contract"

Or perhaps not

One ought to start by examining your thoughts as to what is already priced in. IMHO a restart of production in late May is already there. A recovery of receivables isn't. The stock is trading at my end-May fair value based on no recovery of receivables and the other assumptions in my model (which include a speedy recovery to March production levels in June and onward for the rest of the year, Brent pricing consistent with MS forecasts and an average $9 additional discount for KBT). Thereafter I value a 'steady state' scenario of 55k production, 22.5% WI, $65 Brent and $9 additional discount for KBT. I use a discount rate of 20%. Upsides include recovery of receivables (this is the big one), production growth beyond 55k, stronger Brent prices longer term, lower discounts for KBT.

The reason why we don't have an RNS is because the company doesn't yet know their situation with certainty. When they do we can expect a notice. Until then it's all just speculation. Place your bets. Or don't.

Yawn

A month of full production at a $32 discount to $77.50 Brent is worth just over 2p per share in Profit Oil - CBC. Of much more significance is getting the receivables paid (54p per share). GKP should take their time to make sure everything is in order before agreeing to pump again.

Retail got giddy. Reality replied.

Y'all getting giddy

Aberdeen aren't in the top 10 shareholders

Acadian have been reinvesting dividends. 3.97% holding in July. 4.18% now.

Citadel appear in Short Interest Tracker because they just crossed the -0.5% threshold. They could have been short but below that threshold for awhile.

LOL

"Why would anybody want a takeover when they can have 20% dividends for the next few years if that pipeline just opens?"

Even off today's valuation, just shy of $400 million, you are dreaming if you think the company can produce the free cash flow for 20% dividends "for the next few years".

Just like ar$eholes....every 'expert' has got one - whether informed or not.

Ignore the muppet Goodnight Charlie

It absolutely amazes me that no one reads the words in the company's press release.

"Gulf Keystone announces that an application has been made to the Financial Conduct Authority and the London Stock Exchange for the block LISTING of a total of 6,250,000 common shares of $1.00 each (the “Common Shares”).

The new Ordinary Shares will be issued from time to time TO SATISFY THE ISSUE OF SHARES PURSUANT TO THE EXERCISE OF VESTED OPTIONS under the Company’s Long Term Incentive Plan (“LTIP”) and one award under the Deferred Bonus Plan (“DBP”)."

My emphasis in caps. What more of an explanation do you need?

A coupled more points and you have the full picture.

1. New share issuance has to be listed in order to be fungible with the pool that is already listed. Rather than doing a listing application for each and every share option exercise, the company, sensibly, has a block listing application. Every now and then this needs to be expanded.

2. Guess what happens not long after the publication of the annual accounts each year?

3. Guess what happens in the event of a significant corporate action and hence why should you use the FD figure for valuation? (not for dividends per share or calculation of those in circulation) They are zero cost options, so to the extent they've vested - but not yet exercised - one should count them and one needs to be cognisant of the conditions upon which they vest.

No. It's one man's speculation. And I very much doubt he will be proven correct in relation to GKP.

Guess who's back with yet another moniker...

Still wrong

Rog, show me the share option grant for 6+ million shares... Do you even understand what a block listing application does and why they are made? Clearly not!

As of the end of '22 the company had 8.909 million share options outstanding. I will leave it to you to reconcile that number in the annual accounts to the disclosure in the notes to those accounts for the split between the DBP, LTIP and SRP. Then ON THE 28TH OF MARCH (that's more than a month ago) the company announced a further grant of 3.6 million options under the LTIP and a further 110k under the DBP. See the press release of more than a month ago.

Then use Google or whatever other source you choose to investigate what a block LISTING application does. (A clue is in its name.)

Clever people will note the company's press release relating to the block listing 6 monthly return made on the 3rd of May. https://polaris.brighterir.com/public/gulf_keystone_petroleum/news/rns/story/w693jqw
The block listing only had 198k left. To the extent that more options than that vested and were exercised the shares issued to satisfy those options would not be fungible with those trading on the LSE. Hence the block listing application had to be expanded.

Bemoan the granting of options under the LTIP and DBP by all means, but there's no point bemoaning the announcements made in accordance with the technical execution those plans. (Let alone conjuring conspiracy theories about them.)

"6.25m new shares.... (anticipation/exit event)"

LOL! No new shares as a result of the block listing application. Duh.

Cheer up everybody! Oil is having a good day and Opu (and his partner) has got our backs... Enjoy the long weekend!