Gulf Keystone Petroleum Share Discussion Threads

[tess_tickle] 20/4/2020 08:01

OIL PRICES CAN STAY IRRATIONAL

LONGER THAN GKP CAN STAY SOLVENT

[urals] 20/4/2020 07:58

#GKP Sale implementation agreement made June 2019.Buyers China =Beijing based new CFO.Buyback ended 3/13 with $50m buying 19.6m sh = 8.54% shares which took out major shareholder of 2016 Restructure Capital pre agreed terms Straight after 3/13 to 1/4 in just 2 weeks Lansdowne buy further 2.1m shares and JPMorgan +4.65 mDeal incoming

[urals] 20/4/2020 07:58

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] 20/4/2020 07:57

Of course if price paid agreed.Which it will have been

[highlander7] 20/4/2020 07:53

Does anyone seriously believe that the large Institutional Holders , the Bond Holders , MOL and the KRG would approve a sale when they all know what the company is actually worth ?

Greed rules.

[urals] 20/4/2020 07:17

#GKP Sale implementation agreement made June 2019.Buyers China =Beijing based new CFO.Buyback ended 3/13 with $50m buying 19.6m sh = 8.54% shares which took out major shareholder of 2016 Restructure Capital pre agreed terms Straight after 3/13 to 1/4 in just 2 weeks Lansdowne buy further 2.1m shares and JPMorgan +4.65 mDeal incoming

[urals] 20/4/2020 07:17

Nestoframpers, any friendly sale would have been in negotiations for years already, and the corporate actions suggest that has been the case.Price? be based on parties view of POO next 20 years.If no friendly sale an opportunistic hostile sale becomes ever more likely the longer the market price remains so low. In that event it would also become a public auction. My opinion is the auction was held in private 2 years ago, and the former friendly sale will be the outcome. Shortly or Sami the turnround has thrown his options away in a few weeks.

[bigdog5] 20/4/2020 00:40

Broadford, slurry never fails to amaze with his total lack of understanding of the reality. His belief that the company has 80% of the asset and that the frozen payments can be viewed as a "loan" again proves him to be a clown. His memory is just as poor. His view that frozen payments can be offset against the bonds "as they will be paid" proves yet again that he has zero idea of what is a debt which has to be paid as opposed to something that is meaningless until it is paid. He has also learnt naff all from history here in 10 years. I believe its very unlikely that the company will ever receive the frozen payments. Its more likely that some other deal will be struck which will as usual greatly benefit the KRG. As for his thinking that the company have the money and will be able to advance to 75k/110k looks way off the mark.

[chinese_takeaway] 19/4/2020 20:28

#GKP Sale implementation agreement made June 2019.Buyers China =Beijing based new CFO.Buyback ended 3/13 with $50m buying 19.6m sh = 8.54% shares which took out major shareholder of 2016 Restructure Capital pre agreed terms Straight after 3/13 to 1/4 in just 2 weeks Lansdowne buy further 2.1m shares and JPMorgan +4.65 mDeal incoming

[chinese_takeaway] 19/4/2020 20:28

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 . 

[broadford bay] 19/4/2020 20:27

bigdog,

Don't worry, it's all right - the "lifetime's experience" guy on the other board is praising the "Latest Funding Model".

Acc to him, "GKP have waited years to get the KRG payment deal which was announced yesterday...".

Enjoy!

[chinese_takeaway] 19/4/2020 19:59

#GKP Sale implementation agreement made June 2019.Buyers China =Beijing based new CFO.Buyback ended 3/13 with $50m buying 19.6m sh = 8.54% shares which took out major shareholder of 2016 Restructure Capital pre agreed terms Straight after 3/13 to 1/4 in just 2 weeks Lansdowne buy further 2.1m shares and JPMorgan +4.65 mDeal incoming

[chinese_takeaway] 19/4/2020 19:59

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 . 

[bigdog5] 19/4/2020 19:54

The oil price is way over the top and isn't reflecting the current problems, it has to correct itself this week.

[bigdog5] 19/4/2020 19:47

Careful joseki, using the word "schmucks" will have super sleuth Paul labelling you a Yank as well.

[broadford bay] 19/4/2020 19:10

Spot Brent, not forward contract (e.g. Jun-20), hit $20.8/bbl last week. This is/was about $7/bbl LESS than the Jun-20 forward contract and reflects the fact that there is an enormous glut of Spot Crude (available for immediate delivery) at the moment due to demand destruction. Nervousness about lack of storage didn't help either.

Large Indian refineries are cancelling forward crude contracts for May & Jun-20 and Korea is cancelling such LNG contracts too. HPCL alone issued Force Majeur notice to SOMO for 2 cargoes, each of 1MMstb.

Expect this to be reflected in POO next week.

I wonder what terms the Forward Financing Deals done with the Trading Houses have with the MNR?

[j0sekl] 19/4/2020 18:27

Thought I'd log into ii.co.uk 🤣

imgur.com/a/PecPwZr

[chinese_takeaway] 19/4/2020 14:19

#GKP Sale implementation agreement made June 2019.Buyers China =Beijing based new CFO.Buyback ended 3/13 with $50m buying 19.6m sh = 8.54% shares which took out major shareholder of 2016 Restructure Capital pre agreed terms Straight after 3/13 to 1/4 in just 2 weeks Lansdowne buy further 2.1m shares and JPMorgan +4.65 mDeal incoming

[chinese_takeaway] 19/4/2020 14:19

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 .