Member Info for Straycat

more bull**** from the avatar with a specific agenda.

'Buy below 160'

I agree and I am.

The real issue on these misfit negotiations relate to power and greed.

Sovereignty is just the cover the ICG use to manage and develop their position.

Even though the KRG/IOC contracts have been judged legal.

It doesn't matter...that pipeline will re-open sooner or later. There's too much money at stake.

‘He recently joined PetroTal Corporation’

So he did, on 14/9/22 as an NED. Over two years ago. ‘Recently’?

And so what? GKP’s own experience tells us that if you’re not on the executive team, you have no direct responsibility. It’s all about corporate governance. Unless your name is Jaap Huijskes!!

Like I say; so what?

Hi C,

Absolutely.

If Jon Harris quit right now I reckon that would precipitate a major sp revision. And not in a good way.

Can you imagine the pandemonium if that RNS was released?

As for 'the agenda', reads more than plausible.

PUTUP's got an agenda.

And the Avatar definitely has no interest in Field development.

So the Avatar posits GKP's position on a series of questionable assumptions that are predicated on the Avatar’s predetermined position.

Which is to degrade GKP’s prospects for re-investment and milk the Company of its cash assets, given that it’s debt free.

That’s what this Avatar is selling. Nothing more, nothing less.

To do that the Avatar has to degrade and denigrate other bb contributors’ values and views.

Waste of time in GKP’s case.

There are too many LTHs with their own independent views.

To me, that was a pretty decent RNS in these protractedly difficult times.

Looking forward:-

1) Solid FCF predicted for 2025;

2) Renewed commitment to redistribution of capital to shareholders during that period;

3) All on the back of restricted capex in the current climate; and

4) A restated belief in the strategic plan once the pipeline is re-opened;

5) No debt.

Someone tell me what more JH can do right now, given the circumstances GKP find themselves in?

‘While GKP remains high risk / reward more institutional money seems to have been heading our way. For reasons that should make potential sellers think twice. HOLD’

Quite right rog.

BP haven’t built a £70bn business without:-

1) Making investment mistakes and learning over time; and

2) Risking investors money when they think it’s in shareholders’ interests and learning over time; and

3) As a consequence, developing a multi-national entity with massive potential impact;

4) Now in a region they have clearly been watching for years and have been concerned about their possible investment impact in a volatile geo-political environment;

5) Nevertheless having chosen to engage.

The costs of extraction in Shaikan and supporting areas are so very different to deep sea extraction costs that eventually they would always have leaned into Iraq if there was any sense of financial stability.

I understand Shell are sniffing around as well.

Got to be good for a debt free Company with real potential for growth.

Oh yes, that would be GKP then…

One way or another, pretty sure GKP are in good shape right now.

I'm gone.

Pointless without a lecture in finance that you will never understand.

Deliquent debt will be sacrificed on the altar of any new arrangement to pursue self-funding growth.

$151m is immaterial in the greater scheme of things. Do the numbers @100k bopd and a self-funding growth plan that is respected along the lines of previous arrangements.

If GKP recover even some of it, that's a result.

Not a popular view I know, but real politic will out.

GKP went through massive financial trauma and the shareholders took the pain in spades.

But thanks to that Re-structure in 2016, and all that pain, they are now debt free and in a very different place to Genel.

I'm not one of those LTHs. I made money on their demise. However they made GKP's current position possible.

We're not in the same place either financially or strategically and it's irritating that shareholders in the different Companies don't get that.

Debt's debt. And if there is none then it gives the Board a freedom that debt laden businesses don't necessarily have.

Check out what the markets think about the two Companies and their prospects lately...

GKP went through massive financial trauma and the shareholders took the pain in spades.

Thanks to that

Btw, do you understand the difference between cash and debt?

Okay. I don't hold shares in Genel.

As you wish.

No offence intended.

But they are very different entities, as I just pointed out on your bb...

We're not the same investors.

Unless (and there are some) investors who have covered the spread.

That's a mistake.

These two Companies have very different perspectives on their future planning.

And VERY different financial structures...

I'll go back to my bb now and apologies for the intrusion.

Genel doesn't have GKP's financial heft.

It's debt laden and on the wrong end of legal complexities.

It's pointless comparing the two companies, their set up is predicated on entirely different premises.

So rog,

I think we’re on the cusp of a deal changer.

One way or another that pipeline will re-open within the next nine months.

And that (I hope) will precipitate massive self-funding investment which is the hallmark of a debt free business which has unencumbered choices and a business plan predicated on no borrowing.

Clearly GKP need to ensure their shareholders best interests at all times. The re-negotiated deal will be pivotal.

But so sexy as a proposition in principle.

Are the Board good enough, brave enough, to follow through on the self-funding plan?

I reckon they are.

That’s my bet.

If I’m wrong then I’ll chin it.

If I’m right then you can forget your sp predictions…way too low.

AquarianAge (great Avatar btw),

Not going to give you a lecture on Company finances and how a Balance Sheet reports them.

Put simply, GKP don't owe anyone anything ...they're free to choose how they spend their money howsoever they choose.

It's the Board's choice what they do.

The point is, it's their choice.

As shareholders, our choice is whether we agree with their choices.

Let’s look at our current position:-

1) GKP are in a difficult and extended period of investment restrictions that was not of their making;

2) Like other IOCs they have adapted accordingly;

3) Performance is now restricted as a consequence, and capex control is pivotal. GKP recognise this;

4) GKP are still developing pretty impressive performance ‘in extremis’;

5) Whatever happens in the next nine months that pipeline will re-open, whether it’s still called the ITP or not;

6) GKP are debt free and profitable, and as a debt free entity that is critical to their future performance. Unlike other members of APIKUR;

7) GKP have a plan for self-funding growth which is both credible and deliverable under re-negotiated terms that respect the original PSCs and their intentions.

8) FCF dictates more dividends in the short term.

We’re on the right path as investors here…but this is not for the faint-hearted.

‘Take your trousers off Unwin - you'll find it easier to reach the change in the bottom of your pockets. (You can get Jens to help you.) If there's anything there...’

That’s a very unusual request of a fellow anonymous contributor on this (or any other bb!).

Jens, are you complicit in this, or are you an innocent witness/bystander?!?!

Meanwhile, the whole point of the GKP bb is to exchange views on what the future might hold for investment opportunities in the Company.

Yet now you’ve got one bb contributor requesting another contributor to take his/her pants off in front of yet another contributor.

Strange that this is necessary….PUTUP is easy to rile isn’t he/her/the Bot?

Hi mMax1,

PUTUP needs help does he?

Who are you?

Obviously one of his acolytes.

Loser.