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"There's nothing special about September. The KRG can never legitimately export oil except "through Iraq's account." The current local sales environment is by the grace of SOMO. "

Not sure if that's just your opinion or a fact because the crude oil was exported for many years and sure there were many reported disputes but nothing done to stop exports.

My interpretation is the courts deemed there's a legal agreement between Turkey and ICG for use of pipeline in the Turkey region but that agreement expires come Sept 2025.

Don't think anyone knows exactly the legal situation regarding usage and dates but the Genel chairman stated in a recent presentaion that after Sept the pipeline would be available for exports again regardless of ICG.

Local community and surrounding area Gruntar :-)

Thanks for reply, have you considered the possibility and consequences of delay in payments should exports restart?

Think 3 months was the payment terms previously and was stretched out to 6 months.

Serious answer - we'd possibly be bust as KRG were falling way behind with payments.

Personally I feel it's more important politically and for stability as rog pointed out rather than the extra $2m per month we may receive. I fully understand that "local sales" could end abruptly but it hasn't happened so far and reopening of pipeline carries its own risks.

GKP paid upfront atm as opposed to via a combination of SOMO and KRG which as we know to our cost also has risk factor.

Also it's great not wanting exports to restart as I'm never disappointed :- )

23.35 into this presentation video

https://youtu.be/bGrmdFz-ueE?si=nZUCq5HV5OPflVgM

"Funnily enough the CFO is right"

Hi PUTUP - He didn't say double free cash flow generation, he said double entitlement.

Yes, the CFO stated that entitlement would approx double with pipeline open but think that would need much higher oil price or better terms (unlikely)

Changing the subject, what monthly payment can we expect if the pipeline opens and SOMO in control.

Let's assume same terms PSC, Brent $72 and somehow GKP are permitted to export 48kbpd.

local sales - 48k x $28 x 30 days x 36% = $14.5m per month

exports = $10m from SOMO + $6m (24 month payment scheme) from KRG for overdue amount = $16m per month.

That's why I'm not getting overly excited about exports restarting but maybe my figures are wrong?

Obviously if or when oil price increases the case for exports has more going for it in terms of cash every month.

Just putting it out for discussion, not looking for trouble or a lecture in any way, shape or form.

You're making me feel slightly queezy with that last sentence Unwin but agree with the first bit.

What you reckon putup, about £3m less in the bank than what we might have hoped for in the best possible scenario?

10k for 30 days during Oct as we were expecting Nov reduction.

No big deal imo and great news that we're back to 46k?

I've just watched that video link and it's laughable that anybody thinks that's genuine.

Ah ok, no disrespect but that looks a bit flimsy to me. I'll gladly eat my words if a British firm is ever hired for the job.

"also note it’s a british firm that has been hired to calculate the field costs."

Hi Kheldar - can you elaborate on this please? Thought that was going to be jointly decided after the laws were amended?

Yes agree Itsa, I'll write the outcome now....to be decided at a future date in the next parliament session.

I'm asking for a friend

Ber Behr and Sheikh Adi have never been mentioned online in recent years, maybe they are both duds or KRG are biding their time? Certainly looks like Akri Bijeel is full steam ahead for Rosneft next year though.

Jens - I've often wondered same thing, very little info on the other 2 but Rosneft Oil have Akri Bijeel and due to start production 2025.

Fair enough, I suppose these things can take longer than expected but not a massive financial burden either way imo and doubt we'll get an RNS on completion.

Where do you get the 800,000 barrels ?

26,000 x 21 days = 546, 000 barrels or approx $5.5m worth to GKP