Gulf Keystone Petroleum Share Discussion Threads

[highlander7] 26/7/2020 17:17

Broadfraud, so now you’re an expert on the Oryx situation? Which has,incidentally, been proceeding for months .

With your expertise I really think you need to contact Genel and DNO urgently, and give a full presentation to their boards and lawyers about why you think they don’t know what they are doing.

Let us know how it goes.

As for you doggie , you need to go back to watching DALLAS and learn a bit more about PSC's.

LOL

[thicktony] 26/7/2020 15:57

#GKP 35% of shares in issue are unaccounted for Charlie Co subject to Bermuda Companies Act 1981 so owners of big chunks under no legal OBLIGATION to discloseNo doubt potential acquirers stakes make up lions shareLikely to go hostile as reserves hugely attractive to IOC

[thicktony] 26/7/2020 15:57

#GKP Sentiment against company been systematically battered on retail discussion boards 24/7 since Restructuring 4 years ago.Why?Goldman Sachs JPMorgan etc who now hold 95% in nominees, needed to force stock out of retail hands pre takeoverTick tock https://t.co/tPa8Um3WkO

[habshan] 26/7/2020 15:56

"I believe they are extremely vulnerable to losing their operatorship"

What you believe Bigdog is totally and utterly irrelevant.

But as you seem to have convinced yourself of that then you will have no problem in posting up the applicable clauses in the PSC and showing us where you think that GKP are in breach of them.

And while you're busy showing us where you think that GKP are in breach of the contract you can also tell us why you think that the KRG aren't.

[bigdog5] 26/7/2020 15:39

The "missing shares" are not missing.

Just because the Stockport bore reckons they're 'unaccounted' for doesn't apply to some.

[thicktony] 26/7/2020 14:33

#GKP 35% of shares in issue are unaccounted for Charlie Co subject to Bermuda Companies Act 1981 so owners of big chunks under no legal OBLIGATION to discloseNo doubt potential acquirers stakes make up lions shareLikely to go hostile as reserves hugely attractive to IOC

[thicktony] 26/7/2020 14:33

#GKP Sentiment against company been systematically battered on retail discussion boards 24/7 since Restructuring 4 years ago.Why?Goldman Sachs JPMorgan etc who now hold 95% in nominees, needed to force stock out of retail hands pre takeoverTick tock https://t.co/tPa8Um3WkO

[bigdog5] 26/7/2020 14:25

The company have funds but its clear they are in a mess. JF leaving not long after the CFO and the company's main supporter getting Mr S onboard is a clear sign they are unhappy with the failed plans and falling production. I believe they are extremely vulnerable to losing their operatorship resulting in a very cheap merger.
The hosts won't be happy with their performance and consolidation would suit. One of the Architect's close friends in the frame?

[habshan] 26/7/2020 13:14

"Oryx Petroleum Announces Change in Control"

Oryx Petroleum were in distress and were a sitting duck.

At the time of their results a month ago they had an $80 million debt and only $3 million in cash. That problem resulted in the transferring of assets to their creditor as settlement of the loan, and ultimately a change of control.

"The Toronto Stock Exchange (the "TSX") had, on July 6, 2020, conditionally approved the Loan Settlement and confirmed, on the basis of financial hardship, that it would grant relief from the disinterested security holder approval and independent valuation requirements of the TSX Company Manual that would otherwise apply to the transaction. In connection with granting such relief, the TSX has initiated a delisting review, which is normal practice when a listed issuer seeks to rely on the financial hardship exemption."

Another Kurdish oiler "Shamaran" also went into the coronavirus situation in financial distress but fortunately for them they were able to do a deal with their bondholders and carry on:-

"Implementation of the Proposal, which is subject to approval by the holders of 66 2/3% of the Bonds, addresses the Company’s breach of financial covenant and imminent liquidity shortfall."

GKP however is in no such position, and thanks to Jon Ferrier and his prudent management entered the lockdown in a robust financial position and well able to weather the storm:-

"The Company remains in a strong financial position to manage through these turbulent times with a cash balance of $159 million, as at 13 March 2020."

[urals] 26/7/2020 12:02

#GKP 35% of shares in issue are unaccounted for Charlie Co subject to Bermuda Companies Act 1981 so owners of big chunks under no legal OBLIGATION to discloseNo doubt potential acquirers stakes make up lions shareLikely to go hostile as reserves hugely attractive to IOC

[urals] 26/7/2020 11:51

#GKP Sentiment against company been systematically battered on retail discussion boards 24/7 since Restructuring 4 years ago.Why?Goldman Sachs JPMorgan etc who now hold 95% in nominees, needed to force stock out of retail hands pre takeoverTick tock https://t.co/tPa8Um3WkO

[urals] 26/7/2020 11:51

The most obvious incoming takeover you'll ever see.AT A MASSIVE PREMIUM.Hence the idiots here 24/7

[broadford bay] 26/7/2020 11:24

How it's done...

when you have finished reading, you may perhaps be interested in the public record SEDI listings showing how Baz Raouf Karim had steadily increased his holdings (he's the CEO of KAR Group, big friend of Barzani).
ZEG = "privately held company based in Kurdistan region of Iraq"


"Oryx Petroleum Announces Change in Control
24 July 2020

Calgary, Alberta, July 24, 2020

Oryx Petroleum Corporation Limited (“Oryx Petroleum” or the “Corporation”) announces that the Corporation’s two largest shareholders have informed the Corporation that Zeg Oil and Gas Ltd. (“Zeg”) acquired control of the Corporation from AOG Upstream BV on July 23, 2020 in the context of the previously announced transaction. The acquisition was conditional upon and subsequent to the closing of the Loan Settlement announced by the Corporation on July 23, 2020.

In connection with the change in control, Jean Claude Gandur has resigned from the Board of Directors of the Corporation.

As part of securing consent for the change in control of the Corporation’s interest in the Hawler license area from the Ministry of Natural Resources of the Kurdistan Region of Iraq (“MNR”), the Corporation has agreed to amend certain terms of the Production Sharing Contract governing the Hawler license area. Specifically, the Corporation has agreed to a 22% reduction in the cost pool related to its interest, and to finance all costs attributed to the 35% interest it does not own for the duration of the development period and without a cap on such financing facility. Previously, the Corporation was financing only the costs attributable to a 20% interest in the license, to a maximum of US $300 million. The MNR has agreed to waive any rights it has to audit costs incurred up to December 31, 2020. Depending on actual future revenue and cost profiles, the changes may or may not result in a lower share of future cash flows attributable to the Corporation’s interest compared to the applicable terms prior to amendment. "

[urals] 26/7/2020 08:07

#GKP Sentiment against company been systematically battered on retail discussion boards 24/7 since Restructuring 4 years ago.Why?Goldman Sachs JPMorgan etc who now hold 95% in nominees, needed to force stock out of retail hands pre takeoverTick tock https://t.co/tPa8Um3WkO

[urals] 26/7/2020 08:07

The most obvious incoming takeover you'll ever see.AT A MASSIVE PREMIUM.Hence the idiots here 24/7

[nestoframpers] 25/7/2020 22:59

The Sth are offering PSCs now, leveling up pre HCL I guess.

In terms of the bidding itself, changes to the original widely unpopular technical service contract were made that were aimed at addressing many of the concerns of international investors about the previous drafts, which many saw as falling short of the type of production sharing contracts (PSC) that they preferred. Unlike the previous contract model, the new one offered investors a share in project revenues. However, this share would only be paid under the new contract model when production began, and the Oil Ministry would pay recovery costs from the date of commencement of work, which differed to the previous contract model in which the costs were only paid when the contractor raised production by 10 percent.

[nestoframpers] 25/7/2020 22:53

A prize so highly valued would surely attract trolls that are worthy of it, where are they? Just saying GKP is pants isn't a serious criticism , they rely on the depressed share price and the drip drip drip of BS everyday, not worth the time of day.

As ever, HCL 1st .

[urals] 25/7/2020 20:38

#GKP Sentiment against company been systematically battered on retail discussion boards 24/7 since Restructuring 4 years ago.Why?Goldman Sachs JPMorgan etc who now hold 95% in nominees, needed to force stock out of retail hands pre takeoverTick tock https://t.co/tPa8Um3WkO

[urals] 25/7/2020 20:38

The most obvious incoming takeover you'll ever see.AT A MASSIVE PREMIUM.Hence the idiots here 24/7

[urals] 25/7/2020 20:35

#GKP Sentiment against company been systematically battered on retail discussion boards 24/7 since Restructuring 4 years ago.Why?Goldman Sachs JPMorgan etc who now hold 95% in nominees, needed to force stock out of retail hands pre takeoverTick tock https://t.co/tPa8Um3WkO

[urals] 25/7/2020 20:35

The most obvious incoming takeover you'll ever see.AT A MASSIVE PREMIUM.Hence the idiots here 24/7

[urals] 25/7/2020 20:35

#GKP Sentiment against company been systematically battered on retail discussion boards 24/7 since Restructuring 4 years ago.Why?Goldman Sachs JPMorgan etc who now hold 95% in nominees, needed to force stock out of retail hands pre takeoverTick tock https://t.co/tPa8Um3WkO

[broadford bay] 25/7/2020 20:33

...and 5 posts all within 1 minute (19:43) from The Urinal!

So, who is it exactly that exhibits obsessive behaviour here, on retail discussion boards 24/7?

Tick tock

Hearing voices again?

Idiots...they do say it takes one to know one.

[urals] 25/7/2020 19:43

The most obvious incoming takeover you'll ever see.AT A MASSIVE PREMIUM.Hence the idiots here 24/7