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The company is still in a strong financial position to weather out this severe downturn, but lets look into the worst possible scenario of running out of cash due to the KRG unable to pay anything for months, even a year or two.
GKP have one option and that is to increase it,s bond debt for a further $200 million, but at a much higher interest rate, or suspend all operations and take court action over unpaid cash dues.
To date the company is owed $500 million in cost oil returns + $ 100 million in oil production, if all was repaid this would equate to roughly £ 2.90 a share at current levels.
Could you please share to all, your response regarding OM63 post about Mikey A.
As far as i can tell you have yet to post on that site today and seeing as you appear to be a close acquaintance to him and his posts & frequently support all his ideologies.
Mikey,
with all due respect, please keep all the level 2 posts to the ii bb and don,t clog this site with info that i find no use to me whatsoever.
It may interest you and if your trading this daily using the info then good for you, but for most of us who either don;t trade daily or have level 2, then by the time you post anything it old news and irrelevant.
Surryscot.
I don't post often and i certainly am not a troll, but i am a realist, and GKP market CAP does not lie.
You have consistently ramped the company, so my question of fact to you is what are the main drivers as to why the company share price is so low.
mcfly/oilman/tony.
" Good afternoon (-: Is it time to start compiling a few questions for the conference attendees ??? "
Yep submitted mine, how is the company going to finally deal with/put an end to mcfly/oilman/tony posts, which are detrimental to all genuine investors and the company's reputation, if the posts are total lies and unsubstantiated, it needs company action, if there is some truth in posts, then this is a blatant market abuse, either way i hold the company accountable, due to individuals within the company have been notified over the years of his actions.
I see Tony has the email pinned on his twitter page and re-posted it again today, it concludes with.
" thank you once again for your continued support of the company. Yours sincerely Jon Ferrier CEO "
Somewhat contradictory keeping and using this, as i can not see any genuine support Jon has quoted from you, if i were Jon, i would have the opinion that all you do is bringing the company into disrepute, with your posts which are anything but being supportive.
You may very well have links to past and present employees, but that does not mean you can share out information on a public forum before a company RNS and your continued personal theme of " not all is well " once you look past any good news the company releases, it can be very dangerous for any investor individual who may follow your sentiment.
Your small but outspoken band of followers are equally guilty to negative speculation and you all feed of one another.
If you want to use the email to your advantage, then keep to the goodwill Jon has trusted in you with his reply, however i would imagine Jon is cringing that he ever sent you this email, since you have not repaid in any kind the response given to you other than total disregard of faith in putting an end to inflicting damage you may course the company and investors alike with the continued daily attack on the company.
All in my opinion and how i see it.
Jezzzzzz you two, give it a rest, it is so so boring reading about your dividend theory's.
My understanding is you have contacted the company to raise your concerns which have been posted for all to see, if the company has made any errors to back your concerns, a swift course of action would have been announced, move on and find another pathetic reason to why the company is sold, i'm sure one will come along.
Straycat.
Your points are noted.
To give a balanced view to your poll, please do the same if you feel J Ferrier should continue in his position, to at least give him the benefit of doubt in delivering the current development phase mid 2020, by recommending this post.
Straycat.
I am no fan of JF, however Shaikan field is complicated, the MNR/KRG are even more so, i just don't believe all the discontent amongst investors can be laid solely at JF door.
You mention the word " trust ", this is very much an issue and again i would say 2020 is a telling year both for the company and JF.
The company has to shake of past errors to be seen favourably by all types of investors, but i will say again most of the current investor issues are not what's going on the ground, but hyped valuations and takeover rumours, you then add squabbles and i know more than you/ posters with multi names, then you begin to lose sight on the real world of the company.
My issue with dodger, was that he/she can post negativity with JF, but quickly gets on his/her high horse with others who may post a similar theme on a different subject concerning GKP.
Communication.
I am happy with information currently, we always want more, but the reason you are dissatisfied is you want answers to all the rubbish rumours that is stuck in your head, the company issues factual info, but even when they do, you whinge all day about it.
Share holder value.
Over 100% up on lows, will rise significantly once development program concludes, you listen too much on ridiculous over hyped values, investors in every company out there all say under valued, the markets will adjust value on proved reserves, production and market conditions.
Wiped out.
Yes, but we are still a going concern, could of been worse, reasons well known, but agree it should never have got to that stage, it is history now, feel bad for those who lost big time, still an opportunity to regain some losses, if brave enough to have brought in at OO, move on.... it' done now.
Raise capital to increase production.
Get your head out of your ar..., the company is doing exactly this, 2 long years of stalemate, but allowed company to build sufficient capital for development program to INCREASE PRODUCTION.
Chinese.
A test study report, nothing more, nothing less, happens to many oil companies, you obviously been brain washed with other posters with unfounded rumours.
FDP.
GKP have communicated as to why a delay and what they may do to pass this, why make this a issue of failure, OK a setback but nothing to concerning at the moment, your scratching deep for a reason at JF here, GKP & MOL thought the original plans were suitable, the MNR want for reasons to themselves extra assurances.
CPR.
Was talked about when FDP agreed, but for reasons above has been delayed, do try and keep up!.
Liar.
Prove it............
CFO.
He took this decision only he knows why, happens weekly in all companies across the world, GKP will announce news when they have news, Dave Lewis is leaving Tesco, dam they must be sold.
J Ferrier not delivered.
I would agree in part, however only a business man/women would understand reasons as to why, but at the end of day he had the majority support of investment holders to continue in his position, i feel he will be judged next year, 2020 is key for the company and JF, hopefully we will all be discussing the companies achievements and the resulting improved share price.
So dodger you keep firing away, it has no relevance at all and i will wait for your usual broken English attack on anyone who is not minded the same way as your good self.
You sound very much like bigdog on another.
Whinge all you like, all you are doing is sounding off repetitive noise posted on a monthly basis.
I will wait to see where the company is mid 2020, before judgement is made on his position.
For yourself i suggest you move on.
What a hypocrite person you are dodger.
You have a habit of slamming anyone who raises any issues regarding GKP, yet here you are giving a full negative account of JF, when you haven't a clue to the real world of running a oil company.
Talk about double standards.
Good afternoon.
Although i don't post much, i do read the posts on here daily.
My question is why have i not been able to tick up a post for a few day's now, but other users seem able to, i note some posts remarking having the same problems as me, does anyone know the answer.
While i am posting, it does appear that progress is being made between Baghdad & Erbil and thank you to ccc to be one of the few left keeping us all up to date in this area.
Personally i believe this story has more importance to us all, rather than the nonsense regarding GKP being sold by a couple of individuals under many names and have been saying this rubbish for years.
I would also point out that this type of false BS is not helping other potential investors as it can cloud the company in the wrong image, so in my view it is counter productive.
My first post here, used to post on ii before it all changed last year.
What i will say is this case will give great detail in to the murky waters that the elite Kurds dealings within the oil industry.
We all have known for a long time the corruption that has gone on, there has been many reports and articles regarding this, but nothing much has really stuck.
This case can open up a tin of worms so to speak and i am looking forward to see what materialises and who else is implicated.
Who else will have the courage to speak out, i have a feeling more cases will bring forward many more.