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The 140 kbopd Kerbala refinery might be able to process Shaikan crude. It is the most modern of Iraq's refineries and was inaugurated just months ago:
https://www.enerdata.net/publications/daily-energy-news/iraq-inaugurates-140-kbd-karbala-oil-refinery.html
Finally, it looks like they have taken my advice as posted in 26/04/23 @ 14:47! After wasting 6 weeks or more of time.
Best regards ValueS, Baldrick is very impressed with himself!
At this rate, VOD could be a single digit penny share!
Our highly talented and observant BOD would notice that I am sure ;) So, they would decide to consolidate 1:10 which brings the SP nearer to £1 again but cut the dividend pay out by 90%. And all Vodaphone problems solved :D
What's there to worry about! (Shhhh .... don't tell anyone that the number of shares held by everyone get reduced by 90% as well)
It is really getting silly now, over 20% drop in a month!
This is Vodafone. An Elephant that's not supposed to move this fast.
Watched the trades for few minutes just moments ago. Noticed trades of more than 9m shares at a time @77.18p! (£7m).
It is an Arabic word that is written using English letters. The Arabic word is the same for both the village (South of Shaikan) and the oil field. But in English it could get written as: Shikan, Shaikan, Sheikhan or Shaikhan, take your pick. The village itself is an Assyrian village and to the East of the oil field there is a Kurdish village called Shaikhana or Shaikana and to the west of the field there is a Yezidi village called Lalish which contains Yezidis holiest temple and it is the closest to the field than the other two. I'd suggest it should realy be called Lalish oil field IMO since PF1 is only few hundred yards to the East of Lalish while the other two are miles away :)
Best Regards ValueS
Https://www.youtube.com/watch?v=n24NthemRH8
https://www.youtube.com/watch?v=4oohSx59gvI
Shouldn't they solve the Kurdistan oil pipeline first?
Best Regards ValueS
Shaikan is regarded by the FGI as part of the Nineveh province! See google maps:
https://www.google.co.uk/maps/place/Al-Shikhan,+Iraq/@36.6931272,43.3269879,14z/data=!4m6!3m5!1s0x40062efaf20f720b:0x6cbf52af6321dd31!8m2!3d36.6864269!4d43.3475329!16s%2Fm%2F02ptmr0?hl=en&entry=ttu
However, the KRG regard it as part of the Duhok province!
Best Regards ValueS
The current VOD price! Made me think and ask myself what is the point of buying VOD?
Can't be for growth because we are back to where we were 25.5 years ago!
Can't be for income, because the SP is falling by more than the dividend since the Verizon Wireless deal!
Only good for trading? I wonder....
Best Regards ValueS
I find it very difficult to believe that no solution would be found within 9 months. Already, there's been a huge decline in US inventories for the week ending May 19, including a draw of 1.6M barrels from the SPR:
https://uk.investing.com/news/commodities-news/oil-jumps-on-humongous-us-draw-then-pulls-back-3031417
Just wait when the driving season is in full swing, world wide not just the US. The world can't afford $100+ oil prices. Once SOMO is absolutely sure about Turkey they will find a route out for Kurdistan oil IMO.
Best Regards ValueS
That is indeed the case, they had to issue a TR1 because the 15% threshold's been crossed.
Shouldn't GKP consider a buyback instead of the cancelled dividend?
Just a $10m buyback programme could more than compensate for the new share issue at current prices.
Now holds 32,549,217 GKP shares (14.63%)
https://polaris.brighterir.com/public/gulf_keystone_petroleum/news/rns/story/xleol9w
Not a huge reduction but a bad sign never the less!
Best Regards ValueS
" pressure will mount in keeping all those hundreds of oil workers employed."
For a bit of fun I wondered what would Baldrick's cunning plan be in order to save these people. And after (tele-) bribing him with the biggest turnip I can find (his consultancy fees in modern days language), here it is:
The MNR agrees with MOO to sell and "truck" the Kurdish oil to the refineries in and around Baghdad at a discounted price (say Brent - 34) and use the proceeds to pay for past invoices.
A- MOO should be relieved that they don't have to pump 400 kbopd from Basrah to these refineries, but instead sell it to the world market.
B- The KRG is happy as they find a temporary market for their effectively 'stranded asset' and putting it to good use to reduce their liabilities.
C- The IOC's are happy because they are being paid
D- The jobs of hundreds of oil workers are saved.
PS. For those who don't know about Baldrick's cunning plans:
https://www.google.com/search?q=baldrick+cunning+plan&rlz=1C1GCEA_enGB770GB770&oq=baldrick&aqs=chrome.1.69i57j0i512l3j46i340i512j46i512j0i512l3.23083j1j7&sourceid=chrome&ie=UTF-8
Best Regards ValueS (Sorry, Blackadder:D)
"The MUCH bigger issue is the 4Q 22 and 1Q 23 receivables."
It is if GKP (and partner MOL) continue to invest in Shaikan. They must suspend any further investment right now until ALL receivables are paid. Meanwhile, just keep a skeleton structure with absolute minimum running costs until the matter is resolved