Member Info for Straycat

Ops and Onepoundfish; genuine offer, maybe next time?...

Looks like my idea of a meet-up has fallen on deaf ears and its own sword.
Absolutely no interest.
No problem.
Pity though.
Still thinking of going if anyone's interested in meeting up...obviously venue dependent.

Quite right. I was being conservative.
Btw, I'll get back to you on the other issues you raised which are pertinent to this whole dialogue.
Just need to sort my numbers out in order.

'Dividends don't matter to the MNR'...
Well that's obviously wrong.
Supposing GKP announced a $400m dividend policy for the year.
That is possible because of the oil price, the current PSC arrangements, current flow rates and the cash already available.
Yes it rapes and pillages the CRP and denies any significant field development capex.
But that aside, apart from stopping payments, what do you think the MNR could do about that?
Knowing that the Field couldn't/wouldn't be developed in the way they hoped.
Of course the MNR have a watchful eye on the way GP is distributing its cash. They'd be stupid not to.

Okay Ops,
That's three of us.
Hardly party time, but the day is young!!

Excellent!
That makes two of us then.
Hope you like small talk!!!!

If you're interested then add your name here...

‘Company management are accessible enough without having to turn up at a rally of the great unwashed…’

So here’s the thing.
The AGM is scheduled for 24/6/2022 and I wouldn’t mind meeting ‘the great unwashed.’
I wouldn’t mind catching up with ‘cannon fodder’ like Ops and C0ckeye.
Depending on where it is, why don’t we do just that and meet up?
We’ve all been through our own GKP traumas; some more than others!!
If there’s any interest in this then I’ll put myself out and do some organising.
I’ll need names (avatars) but then I’ll organise a venue and some sustenance.
I’ll also need to come up with some form of identity security for the attendees. Don’t know how yet, but I’ll sort it (maybe?). Any ideas?
All on me.
Why not?
Let me know if you’re interested.
But remember, this is a real proposition, not an April Fool spoof.
Regular bb contributors only.
Avatar identities only.

Thoughts?

Moving on...

'I don't think GKP dividends even feature in the conversation with the MNR.'

Of course they don't. That's not how negotiations work. He doesn't have to threaten them as long as they can read his words and recognise his subsequent deeds.

This is really simple. All you've got to do is sit in the MNR's place.
GKP have all the money right now and they're deliberately choosing to redistribute to shareholders rather than re-invest in the Field. Because the MNR are giving them no other choice.
So how to break that impasse?
JH is willing to PUTUP (Ha!) but he can't without FDP approvals. He's already said so on several occasions
So he's decided to do the right thing and return value to his long suffering shareholders in the interim. GKP profits enable that in spades right now.
From an MNR perspective this must be a very unpalatable truth; JH will continue to develop the best interests of his shareholders while waiting for the MNR to make up their minds.
Pretty cool that he's changed the FDP goal posts to enable a fresh look at the issues facing both parties.
Anyway, for now that's where the power is. With JH. And he gets it.
You can expect more muscle flexing to come.

"FH1: If KRG are baulking at capital cost then can renegotiate a new PSC."

What? You're quoting FlyingHorse1 as if to repudiate MY argument?
Please tell me you don't think we're working in tandem...
I'm starting to worry about you.
Two years ago FH1 tried to get me barred from the bb ffs!! (Never forgot FH1!).
Idiot.

Not hard to understand is it?
Great assessment LS; got it in one.

I'm trying so hard; you have no idea.
Nobody is suggesting a renegotiation of the PSC. It is the bedrock of the agreement between the two parties.
But to pretend that the development of the field is completely divorced from the massive rewards that will provide is simply stupid and commercially illiterate.
Do you really think that JH is sat in front of the MNR, apologising for the fact that he is rewarding his shareholders for ANOTHER massive dividend?
No.He's flexing his shareholder muscle.
You don't get it do you?

So, in the world of Real(commercial) Politik, what the f*ck is the difference between negotiating the PSC and the FDP?
They both meet at the same point of agreement/disagreement.
Ridiculous argument.
What are you doing?

The PSC and the FDP are obviously interconnected in terms of what's required to get the best for both parties out of the bigger arrangement to produce profitable oil in volume.
Even if it's not directly referenced between the two agreements.
How do you not see that?
You know better, surely?

My point exactly.
Hence the dividend trail...

'You don't understand the PSC and who bares the burden of the capex'.

The capex burden is shared. Always was. Intended that way.
The issue is where the balance of burden should lie.
That's what the negotiations are all about.

It's obvious that JH is treading water, investing accordingly, waiting for the next movement from the KRG.
Meanwhile he's doing what he must to protect our best interests.
And we're lovin' it!

Hi C0ckeye,
We both know there's a cadre of short term investors who always sell into profits and upbeat RNSs.
In this case it was a given.
Where's the news there?
We're the guys in it for the medium/long term and we should know the problems of being associated with this share.
You particularly, being a long suffering holder (who I hope has benefited from the last period of resurgence!!).
The latest RNS marks a change of approach and I applaud it.

SC

JH,
Smart.
You've changed the target rules of engagement with the KRG, thereby distancing yourself from GKP's previous negotiating positions.
New Team, new dream. New targets, new incentives.
Excellent and thoughtful.
Shareholders are now invited to follow your revitalised approach to field development by way of the two phase dividend incentive to stay involved.
It also attracts the trading attention of other investors because of the indications of more distributions to follow.
That'll take you through to Q3; then production uplifts and FDP progress will definitely be the next challenge...
The sp certainly tells the tale today.

Good luck to you tom48.

tom48,
I so hope that is true because if it is then you couldn't make it up, credibly!!
But I'll give it a go if you want.
Otherwise I'll novel it under Straycat and credit you!!
Excellent stuff.