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Better still please show us where you get $374m from??

Think Barzani made a statement that it was not possible to simply "trouser" money from oil sales.

But at the same time KRG must be earning $150m per month at least with no account as to its distribution.

350k x $30 x 30 days = $315m per month and KRG has 50% share approx.

In addition to the jail time he has to pay restitution to the IRS of just under $30 million

Don't think Todd will have much left in the stash??

Crazy question for late Fri night but assuming gross sales $40m less 10% royalty = 36m x 40% = $14.4m x 80% = $11.5m receipt for cost oil.

Seems to be $7.5m gross ongoing expenses at the moment,

My question is how much is deducted from the ongoing CRP?

I'm assuming 14.4 - 7.5 = £6.9m but not entirely sure.

Sorry shouldn't have used the term "legal" maybe "legitimised" or "given more credit" would've been more accurate?

I'm thinking either SOMO take charge and exports restart in which case strong possibility of not being paid the receivables but contracts legal and future payments guaranteed or carry on with local sales with at least the cost recovery added to the CRP .

Thanks again Putup, very helpful.

If we continue with local sales at same price per barrel and can also maintain production at current level on the $6m per month currently being spent the key question is when are the recovery costs exhausted. Seems plausible that KRG would surely permit the $120m cost recovery portion of the receivables to be included and therefor that would keep GKP on the 36% of gross sales for a couple of years into the future.

They can't rob us twice...can they?

Putup, thanks for detailed reply, appreciate that but I'm willing to admit I find it a bit complicated :-)

On the 48k x $28 x 30 days example it appears GKP would receive $9.8m if cost recovery neutral which equates to 24% of gross field sales.

Just to keep it very simple for my little brainbox is it reasonable to assume somewhere between 24% to 30% of gross sales would be there or thereabouts for monthly receipts to GKP after historical cost are fully recovered or is that way too simplistic?

Assuming we're back up to 48kbopd x $28 x 30 days x 36% = $14.5m per month less the stated $6m per momth costs.

Am I correct in thinking this potential $14.5m receipt figure is ongoing only until the CRP is normalised.

Putup - are you suggesting that after CRP normalised the %age figure will drop to as low as 18% or perhaps not as straight forward as that? I fully understand that our income at the moment is high due to the fact we're recovering historical costs but trying to get my head round future reality when this may no longer be the case.