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Created By frenchboy24 | Read the whole conversation
Kozel needs his peanuts . I would he needs about 20M per year
Have we gone back to the AIM.? Trading this morning aint arf familiar.
Good - funding completed and with only $103m needed to service the worst case scenario this means that we are fully funded going forwards.
The 40m warrants when exercised will just about furnish the interest payments.
In the meantime there is £850 m to be recovered through cost oil, £5m outstanding from the court case. Payment for oil already shipped $20m , Backin rights outstanding and upgrades likely from Akri Bijeel, Sheik Adi and Shaikan 7.
Plus a VERY INTERESTING clause in the Bond issue states that on achieving a farmin greater than 40% the Bond can be re paid at a cost of 5% to the company.
I wonder why that is there! :0)
D
Tweeted By fishybits | Retweet
Dales, surely 850m dollars not pounds? Yes? I though the number was nearer 600m dollars though...
Plenty farmers in Kurdistan, should be ripe for farmin'! (I'll get my coat..)
Good point Dalesman , any idea who will be the lucky party ?
Katsy 9 Apr'14 - 09:45 - 351206 of 351210
"I have learned in 15 years of trading, is to accept the reaction rather than pretend it isn't happening."
My issue is not about accepting the reaction. It is more about the understanding applied by market forces to the CPR. Those who have followed the GKP story over the years understood that the CPR was ultra-conservative and covered a fraction of the resource.
It is not the first time that the share price of GKP has been taken down to an extreme low on a dubious interpretation only to stage a significant rebound thereafter. It would not be surprising to see history repeat itself in the months ahead.
"...but in the mean time just accept that there are issues and Mr market is concerned by these issues."
Mispricing is a feature of equity markets. And we can see this writ large across various sectors. As extreme as are the over-valuations in the current sector bull markets so seem to be the under-valuations in the current sector bear markets. And it is mispricing which presents opportunity.
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