Gulf Keystone Petroleum Share Discussion Threads

[bigdog5] 19/4/2020 13:59

Broadford, what did you reckon the company's burn rate was?

Add in a "donation" to the KRG, allow for cutbacks and losses on every barrel for at least this year and that "healthy" bank balance could be close to or even under $100m? What will the auditors be thinking?

Bonds or a cheap placing looms?

[urals] 19/4/2020 13:58

Sale implementation agreement entered into GKP and Buyers CNPC last June The new CFO appointment was part of the deal.He's STILL LIVES in Doncheng district Beijing.Handy really as CNPC the new owners HQ same spot. :)))Clowns mugging you out here , on behalf of Morgan Stanley and j p Morgan who have bought a minimum of 8,000,000 in last month as Sale approaches.Don't be mugged out by the clowns here.

[broadford bay] 19/4/2020 13:55

As they say, Kurds have no friends but the mountains of cash...

[bigdog5] 19/4/2020 13:51

"Poses also the question of what compensation proposals could be put before the KRI heavy crude producers..."

Keep pumping the amounts we tell you and we won't revoke your licence?


"Kurdistan is included in Iraq’s commitment to reduce oil production as part of the new OPEC+ deal, Iraqi Oil Minister Thamer al-Ghadhban said earlier this week. Iraq was the biggest cheater in previous OPEC+ pacts".

"Really, what a surprise":-).

No sign of an RNS announcing how much the company donated to help the KRG? So ask for a contribution (just ask?) from the producers and then a short time after freeze 4 months of oil revenue due to them. It's all about the hosts as ever?

Koruptistan, the last great frontier is open for business? That'll have companies lining up eh, lol.

[chinese_takeaway] 19/4/2020 13:47

#GKP Sale implementation agreement June 2019.Buyers China =Beijing based new CFO.Buyback end 3/13 $50m 19.6m sh = 8.54% shares took out major shareholder of 2016 Restructure Capital pre agreed terms 3/13 to 1/4 Lansdowne buy further 2.1m shares JPM +4.65 mDeal incoming

[chinese_takeaway] 19/4/2020 13:47

GKP AND BUYERS implementation agreement Jun 2019, hence buybacks, and CFO change, were conditions of the agreement, EXECUTION of the agreement announced shortly. Initial ApproachThe first step in the scheme process will typically involve the bidder approaching the target with an indicative offer to propose a scheme under which bidder would acquire 100% of target.Due DiligenceIf the target is amendable to the bidder's offer, the target will typically grant the bidder a period of due diligence (either on an exclusive or non-exclusive basis) so that the bidder can confirm its interest in the target and the amount of consideration to be offered by the bidder.Scheme implementation agreementBEFORE the scheme proposal is PUBLICLY ANNOUNCED , the bidder and the target will typically enter into a 'scheme implementation agreement' which: sets out the terms of the scheme and commits the bidder and the target to the scheme transaction;obliges the target to propose the scheme to target shareholders, and to ensure that the target directors recommend that target shareholders vote in favour of the scheme in the absence of a superior proposal; andsets out how the bidder and target will work together throughout the approval process.( New buyers CFO) The scheme implementation agreement will typically contain 'deal protection mechanisms' such as:'no shop', 'no talk' and 'no due diligence' obligations on the target to seek to prevent the target from proactively generating rival bidders;a notification and matching right for the bidder to be notified of and have the opportunity to match any third party offer for control of target before target directors may recommend that third party offer to target shareholders; anda break fee (generally not exceeding 1% of the equity value of the target) payable by target to bidder if a third party is successful in obtaining control of target or if the target directors change their recommendation to vote in favour of the scheme in certain circumstances.The scheme is typically publicly announced for the FIRST time when the scheme implementation agreement is EXECUTED . 

[chinese_takeaway] 19/4/2020 13:46

Sale implementation agreement entered into GKP and Buyers CNPC last June The new CFO appointment was part of the deal.He's STILL LIVES in Doncheng district Beijing.Handy really as CNPC the new owners HQ same spot. :)))Clowns mugging you out here , on behalf of Morgan Stanley and j p Morgan who have bought a minimum of 8,000,000 in last month as Sale approaches.Don't be mugged out by the clowns here.

[chinese_takeaway] 19/4/2020 13:46

https://t.co/cd69rAFs8lPEEL HUNT BROKERS ANALYSIS :BUY :  TARGET 287PThe business is currently having to withstand a volley of unforeseen negative developments, the combination of which has caused the share price to fall -60% in the past month. However, GKP's financial discipline in recent years has ensured the business today is in good health and is therefore in a strong position to weather this period of increased volatility. Having now moved to update our asset model to factor in new production expectations and Shaikan capex phasing over the coming years, our DCF analysis still shows considerable upside to the share price. Our Core NAV for GKP now sits at £622m, equivalent to 287p/share (from 345p). This is where we also choose to set our target price and therefore maintain our BUY RECOMMENDATION .https://t.co/fMaubyPbsl

[chinese_takeaway] 19/4/2020 13:46

Heavy currently trades at premium Broadfraudster

[broadford bay] 19/4/2020 13:27

I see Platts S&P Global reporting that Iraq might prioritise output of higher-value crudes over lesser-value (i.e. heavier, more sour) crudes as it trims to meet OPEC+ targets (proposed Iraq reduction of ca 1.061MMbopd).

If Baghdad insist on KRI taking its fair share of such cuts (and taking into account the large Heavy Crude discounts currently being applied to such as SH), there must surely be a possibility that KRI producers of such heavy crudes might be requested (instructed) to minimise output. Poses then the question of “what’s in it for the KRG?”

The possibility that KRI might agree to throttle back, even cease, output of their heavier and less valuable, sour crudes and be compensated (at least partly) by much increased exports from the higher value, lighter crude fields around Kirkuk could be on the table.
100Mbodp from KRI fields plus 350Mbopd from Kirkuk area fields could be the basis of such a deal?

Poses also the question of what compensation proposals could be put before the KRI heavy crude producers...

The Iraq reduction of 1.061MMbopd will of course never be realised IMO.

[urals] 19/4/2020 07:58

#GKP Sale implementation agreement June 2019.Buyers China =Beijing based new CFO.Buyback end 3/13 $50m 19.6m sh = 8.54% shares took out major shareholder of 2016 Restructure Capital pre agreed terms 3/13 to 1/4 Lansdowne buy further 2.1m shares JPM +4.65 mDeal incoming

[urals] 19/4/2020 07:40

GKP AND BUYERS implementation agreement Jun 2019, hence buybacks, and CFO change, were conditions of the agreement, EXECUTION of the agreement announced shortly. Initial ApproachThe first step in the scheme process will typically involve the bidder approaching the target with an indicative offer to propose a scheme under which bidder would acquire 100% of target.Due DiligenceIf the target is amendable to the bidder's offer, the target will typically grant the bidder a period of due diligence (either on an exclusive or non-exclusive basis) so that the bidder can confirm its interest in the target and the amount of consideration to be offered by the bidder.Scheme implementation agreementBEFORE the scheme proposal is PUBLICLY ANNOUNCED , the bidder and the target will typically enter into a 'scheme implementation agreement' which: sets out the terms of the scheme and commits the bidder and the target to the scheme transaction;obliges the target to propose the scheme to target shareholders, and to ensure that the target directors recommend that target shareholders vote in favour of the scheme in the absence of a superior proposal; andsets out how the bidder and target will work together throughout the approval process.( New buyers CFO) The scheme implementation agreement will typically contain 'deal protection mechanisms' such as:'no shop', 'no talk' and 'no due diligence' obligations on the target to seek to prevent the target from proactively generating rival bidders;a notification and matching right for the bidder to be notified of and have the opportunity to match any third party offer for control of target before target directors may recommend that third party offer to target shareholders; anda break fee (generally not exceeding 1% of the equity value of the target) payable by target to bidder if a third party is successful in obtaining control of target or if the target directors change their recommendation to vote in favour of the scheme in certain circumstances.The scheme is typically publicly announced for the FIRST time when the scheme implementation agreement is EXECUTED . 

[urals] 19/4/2020 07:40

Sale implementation agreement entered into GKP and Buyers CNPC last June The new CFO appointment was part of the deal.He's STILL LIVES in Doncheng district Beijing.Handy really as CNPC the new owners HQ same spot. :)))Clowns mugging you out here , on behalf of Morgan Stanley and j p Morgan who have bought a minimum of 8,000,000 in last month as Sale approaches.Don't be mugged out by the clowns here.

[urals] 19/4/2020 07:39

https://t.co/cd69rAFs8lPEEL HUNT BROKERS ANALYSIS :BUY :  TARGET 287PThe business is currently having to withstand a volley of unforeseen negative developments, the combination of which has caused the share price to fall -60% in the past month. However, GKP's financial discipline in recent years has ensured the business today is in good health and is therefore in a strong position to weather this period of increased volatility. Having now moved to update our asset model to factor in new production expectations and Shaikan capex phasing over the coming years, our DCF analysis still shows considerable upside to the share price. Our Core NAV for GKP now sits at £622m, equivalent to 287p/share (from 345p). This is where we also choose to set our target price and therefore maintain our BUY RECOMMENDATION .https://t.co/fMaubyPbsl

[nestoframpers] 18/4/2020 20:12

Ewen Ainsworth and John Stafford both NEDs at NTOG!!! unreal I know .Remember that JF had a big clear out , shame it took him so long to get on with it.

[broadford bay] 18/4/2020 19:31

I found it interesting that the Shamaran statement (Atrush) was almost identical to GKP's.

The Genel statement, with its much more investor-centred message, might be interpreted as being "stronger", or perhaps better reflecting the concerns of it's shareholders?

"April 17, 2020 - ShaMaran Petroleum Corp. ("ShaMaran" or the "Company") (SNM - TSXV, Nasdaq First North Growth Market) provides the following update to shareholders.

The Company confirms that a payment of $9.6 million ($3.5 million net to the Company) has been received from the Kurdistan Regional Government (“KRG”) for Atrush crude oil sales during March 2020.
It should be noted that a proposal has been received by the Company from the KRG to defer their payment of the Atrush crude oil sales for November 2019 - February 2020. It is the Company’s understanding that this payment deferral proposal has also been made to all Kurdistan producers on an industry-wide basis.
The Company is continuing dialogue with the KRG and will update the market as and when appropriate."

[0ili0] 18/4/2020 18:34

hxxp://26ww10.blogspot.com





Lazerbill RT Harry Caper's GKPIF pages...



...and Harry Caper's efforts...same as 26ww10's kids...

hxxp://thebarnumeffect.blogspot.com/p/pumpkins.html



Pump kin. ;)

[bigdog5] 18/4/2020 15:50

Hello Paul, got any new BS for us all? Been having a think of what you can make up this weekend have we?

[bigdog5] 18/4/2020 15:48

highlander7
18 Apr '20 - 08:00 - 602542 of 602568
0 8 1
499.
"5 years or so ago this was a good board ."

Yes, a rampers paradise. How's that worked out in reality when considering all the failed predictions, posts pointing to the past that are now completely irrelevant at best and pure lies at worst.

"It was well moderated and informative".

Only ramps were permitted and the info was "spun" accordingly to suit.

"Then that scumbag macfly/OM63 and his fellow agenda driven headbangers moved in to deliberately remove it as a source of information to genuine shareholders. It has never recovered".

No, they've posted the facts, reality and warned that all is not as you hope for and believed.

[chinese_takeaway] 18/4/2020 15:43

Is it morning in America :)

[bigdog5] 18/4/2020 15:40

Hey highlander7, do tell us what you've managed to be correct about in ten years.

Broadford has explained so much that is correct and has wiped the floor with all of your theories just like I have regularly done with you on several different issues including finance for years on which you've admitted, you don't have a clue.

Why did you destroy all your posts for 18 months pre the run up to the wipeout?

Was it because they prove you are clueless and are very embarrassing? A suggestion from Penge HQ to follow what they've done over the years?

[bigdog5] 18/4/2020 15:36

0ili0
18 Apr '20 - 08:31 - 602547 of 602566
0 4 1
Asher should get bigdog5 in as a consultant. Lol


Sarahgibbs, I certainly would have advised GKP not to pay dividends as that would achieve nothing and the buybacks are a waste of money when its obvious the hosts can't be trusted with payments. Then there's all the problems between Erbil and Baghdad which means there will never be any agreements between them that would last more than a few days. I've been a lone voice in saying its imperative the company retains a very healthy bank balance not only to cover the bonds but any delays in payments.

Others have been saying the company has more than enough money to push on with progress and that the bonds are years away from being paid off. They've also mentioned they would be able to borrow easily. Really?

The hosts have frozen 4 months of payments, the oil price is very low and will stay that was for a long time. The company are making a big loss on every barrel and its likely they will do so for a long time. The bank balance that was healthy is now under pressure. The auditors, just like last time will be looking at that. Last time the company was considered "not a going concern" simply because the revenue was not being generated/paid by the hosts even though the bonds were not due to be paid off 18 months down the line. Is that clear enough for you?

Always the unknowns that catch all out innit.

[urals] 18/4/2020 13:09

GKP AND BUYERS implementation agreement Jun 2019, hence buybacks, and CFO change, were conditions of the agreement, EXECUTION of the agreement announced shortly. Initial ApproachThe first step in the scheme process will typically involve the bidder approaching the target with an indicative offer to propose a scheme under which bidder would acquire 100% of target.Due DiligenceIf the target is amendable to the bidder's offer, the target will typically grant the bidder a period of due diligence (either on an exclusive or non-exclusive basis) so that the bidder can confirm its interest in the target and the amount of consideration to be offered by the bidder.Scheme implementation agreementBEFORE the scheme proposal is PUBLICLY ANNOUNCED , the bidder and the target will typically enter into a 'scheme implementation agreement' which: sets out the terms of the scheme and commits the bidder and the target to the scheme transaction;obliges the target to propose the scheme to target shareholders, and to ensure that the target directors recommend that target shareholders vote in favour of the scheme in the absence of a superior proposal; andsets out how the bidder and target will work together throughout the approval process.( New buyers CFO) The scheme implementation agreement will typically contain 'deal protection mechanisms' such as:'no shop', 'no talk' and 'no due diligence' obligations on the target to seek to prevent the target from proactively generating rival bidders;a notification and matching right for the bidder to be notified of and have the opportunity to match any third party offer for control of target before target directors may recommend that third party offer to target shareholders; anda break fee (generally not exceeding 1% of the equity value of the target) payable by target to bidder if a third party is successful in obtaining control of target or if the target directors change their recommendation to vote in favour of the scheme in certain circumstances.The scheme is typically publicly announced for the FIRST time when the scheme implementation agreement is EXECUTED .