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Bdgm - let's hope there are no further buybacks then??

Personally I don't think there's any agenda, they're just waiting for the dividend reinvestments to clear and will continue buybacks shortly. Only other thing is the production reduction this month but not even sure that'll be RNS'd as we've already been told about it.

Scrwal - thanks for that information as I was wondering why it was being described as 2 interim dividends.

Think the suggestion is the SP may rise around the 31st payment date as dividends are reinvested or the nasty market marks price up knowing there will be a bit of extra buyers going around.

I knew I read it somewhere in the distant past

The KRG has committed to paying for monthly production by the 15th day of each following month starting with March 2020, for which payment was recently received. Dialogue with the KRG is continuing relating to payment of outstanding invoices for November 2019 to February 2020 aggregating $93.7 million gross ($73.3 million net to GKP).

I very nearly wrote 3 months in actual arrears but I knew you would clarify the situation.

Although not entirely sure where the 3 months payment terms came from as 15 days became 1 month, became 2 months, became 3 months without any agreement as far as I can see.

Sorry 36%

Of course if the pipeline remains closed and local sales entitlement of 38% continues we will soon be getting those arrears back in a round about sort of way which I'm sure putup can explain..................in a very round about sort of way.

Belgrano - think we also have to remember that prior to the pipeline closing the KRG were approx 6 months in arrears with IOC payments and something had to give.

Thought BP recently signed an MOU with ICG to further develop Kirkuk??

Well said BSmonitor, that seems reasonable enough to me also but I'm sure not everyone will see it in this straight forward manner :-)

Frustrating thing is Baghdad won't even reveal what exactly they're looking for apart from ridiculous suggested production costs. They could've just said produce it free of charge otherwise no deal. No reasonable solution has been offered IMO

Just more of the same old from Caggins in that latest youtube video , nothing new to say.

Don't know if it's just me but I'm finding the recent statements from APIKUR a bit of a cringe and not in any way helpful towards resolving the export issues.

Brent doesn't seem to have much impact as far as local sales are concerned?

Past year - local sales price between $25 - £28, Brent - $70 - $90 , possibly a slight positive Brent being low and GKP still achieving $27 local sales price as last reported?

They have to be giving more than they're taking though?....... they're not politicians

Putup - is that a slight change in opinion from you for already invoiced receivables to be invoiced again assuming local sales persist?

Straycat - GKP won't be entitled to 36% of gross sales if you don't include delinquent (already invoiced) debt after the cost recovery pool is normalised around turn of the year. Repeating myself but it has been stated that we will continue with 36% entitlement with local sales scenario but of course this is eating into that debt you want to ignore.

Would be great and very helpful if GKP could provide us with monthly payment updates as per when pipeline was open.

Probably some reason for not doing so.

Straycat - existing trading conditions includes cost recovery, that's why GKP receive 36% of gross sales.

For that situation to continue into next year GKP would have to be receiving cost recovery debt and whittling down that figure.