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Straycat - Can you show me an example of where I've been negative? You do realise that me suggesting knocking off the $9 KBT discount would be a positive?

And the companies are receiving less than 50% of total revenues generated from crude oil sales is my understanding.

Never mind £2.50 this is going to £5 whenever export pipeline opens, is that better?

Remember where you heard it first :-)

"Of course, we can hope that the sales process is more transparent with less "fees" taken out along the way."

Just for the hell of it and there's nothing much else going on can we knock off the $9 KBT discount .

Gross monthly sales - 45.7kbpd x $46.8 x 365 divided by 12 = $65m

Not going to show workings but think that gives a slightly more respectable $16m nett receipt??

Obviously there's going to be shutdowns and other local sales/exports factors that are going to be variable over the months ahead.

"The heavy nature of GKP's crude hasn't changed and so assuming the KBT discount disappears would be a very bold assumption at this stage. "

Surely some benefit for the exported crude now being legal and above board is my thinking, bold as it may be.

So as a back of the envelope adjustment one might at $4 million to March and $6 million to April for an 'including arrears' comparison. Still potentially sobering.

March gross sales $39.7m x 36% (max recovery) = $14.3m

as opposed to $13.2 + $4m = $17.2m

I'm probably missing something but that's a large discrepancy?

Thanks for that Putup, as I said previously makes for sobering reading based on those figures.

I'm assuming the KBT discount will be eliminated which would help and it's interesting that Genel clearly stated in their recent presentation that monthly entitlement would double on restart of exports, assume including cost recovery arrears as opposed to your calculations given here. Don't think they have anything much left in CRP same as GKP.

Further down the results page

"Following the export pipeline reopening the remaining overdue trade receivables is expected to be recovered from the KRG including both the outstanding cost oil balance at that time and the full profit oil balance referenced above."

You might have to concede to me.....time will tell

Yes thanks, must admit I read it the other way around initially

Think I'll have to concede the receivables are to be collected via KRG payment plan rather than remaining in CRP IF exports restart this year.

204p??

Tranche - bit vague for you, thought you liked to be exact?

$150m per month "local sales" approx??

Yes agree with that Jim and also their share of the last 2 years "local sales" seems to be unaccounted also.

"We all know the KRG stole it . So the argument is with the KRG not iraq and rightly so"

There is the possibility the KRG used the money for purposes that should've come from their share of the budget but was never received ICG. The reason for 6 months non payments to IOC's has mysteriously never been revealed as far as I know.

My thinking is ICG and KRG know what is required to satisfy APIKUR so no point in them being there.

Or we can leave it in the CRP if that's better for you?

Would you take $50m per month x 24 months?