Gulf Keystone Petroleum Share Discussion Threads

[fairenough11] 16/5/2021 11:45

Cheers SC.
RIP AS.
Of course AB/BB were commercial as will Qara Dagh be(now Genel).

Who got SA?

[guypender] 16/5/2021 11:34

As I understood it with the payment terms changing to 60 days, we were not going to get paid this month?

[bumkin] 16/5/2021 08:34

Brilliant, thank you SC and thank you Adnan RIP.

[shortsqueezer] 16/5/2021 08:21

That's great ! Thanks SC

[steephill cove] 16/5/2021 08:08

Adnans Legacy.

GKP dividend information & a nice little calculator for all PIs to work out how much they will earn & be recapitalised by for a 3rd time on Friday 2nd July 2021 if they reinvest their dividends...

PS:- Dont forget to use the calculator again for the 4th special dividend just a month later ;-)

PPS:- I am sure that Adnan just like Todd Kozel would have wanted all small PIs to be there for the final end game...

www.dividendmax.com/united-kingdom/london-stock-exchange/oil-and-gas-producers/gulf-keystone-petroleum/dividends

[steephill cove] 16/5/2021 07:52

Thank You Adnan & you will be sorely missed by all ex British Gas employees that knew & worked with you.

[beernut] 16/5/2021 07:27

COMMODITIES
Crude oil outlook turns bullish on recovering demand, analysts expect higher levels
SANDEEP SINHA MUMBAI / MAY 15, 2021 / 04:19 PM IST

As economies open in the US and Europe, pend up demand from these nations will lend support as the driving season in the United States gather momentum.


Crude oil had a choppy trading week and ended with modest gains on weaker dollar, prospects of increasing demand from US, China and Europe, falling oil inventories and increase in refinery utilisation rate in the US, rise in China’s oil imports, vaccination drive across US and China are the current push factors at play for the black gold.

Crude oil jumped Rs 25, or 0.53 percent, during the week and rose during four out of five trading sessions on the domestic bourse.

[shortsqueezer] 15/5/2021 18:52

Whatever. At least things seem to be moving along. Must be a bloody awful place to live though.

[pensioner2] 15/5/2021 18:18

So the salaries will get paid today. Maybe we'll get paid on Monday? :-)

[nestoframpers] 15/5/2021 08:53

Shafaq News / The Kurdistan Democratic Bloc confirmed, on Friday, that the federal government will release employees' salaries and the Kurdistan Region’s share in the 2021 budget, after the Eid al-Fitr holiday.

Democrat Shirwan Al-Dobardani told Shafaq News, "The joint technical committee that was formed to follow up the terms of the agreement between the federal government and the Kurdistan Region continues its work to implement the agreement and what is stipulated in the General Budget Law for 2021."

Dubardani added, "According to the information, the salaries of employees and the region’s share in the budget law will be launched by the Federal Ministry of Finance after the Eid al-Fitr holiday."

He pointed out that "launching the Kurdistan Region quota in one go or in the form of payments left to the Technical Committee, it is concerned with that through its action on the Ministry of Finance."

And the Prime Minister had indicated, during a press interview, on (May 9, 2021), that Baghdad is now in the final stage of approving and distributing the budget chapters, and that Kurdistan's share will arrive in Erbil soon.

hxxps://shafaq.com/ar/%D8%B3%DB%8C%D8%A7%D8%B3%D8%A9/%D8%A7%D9%84%D8%AF%D9%8A%D9%85%

[nestoframpers] 15/5/2021 08:50

Shafaq News / On Thursday, the US embassy in Iraq congratulated on behalf of the President of the United States (Joe Biden), the Secretary of State (Anthony Blinken), Ambassador (Tueller) and the American people on the arrival of Eid al-Fitr.



The embassy said in a statement received by Shafaq News, “We in the United States’ mission in Iraq are aware that Iraq faces a number of difficult challenges, just like many countries. As the Corona pandemic continues to cast a heavy shadow over the entire world, disturbing our lives and business, and many will celebrate. On this occasion without their families. "



"We are working with our Iraqi partners to help ensure that Iraqis feel safe in their homeland as well as revitalize the economy," the statement added.



The statement added, "Through the US-Iraqi partnership, we move forward together. Together, we are making progress in combating the Corona virus. Together, we work to repair what has been affected by ISIS and help the displaced to return to their homes. Together, we are looking for new ways to develop the Iraqi economy and face the challenges of change." the climate".



"There is a lot of work to be done, but we have come a long way and the United States remains committed to our partnership with the Iraqi people as we work towards our common goal of a secure, stable and prosperous Iraq," the statement continued.




hxxps://shafaq.com/ar/%D

[nestoframpers] 14/5/2021 18:15

Economy News - Baghdad



The Governor of Dhi Qar, Ahmed Ghani Al-Khafaji, announced, on Thursday, the signing of a preliminary memorandum of understanding with the Chinese company CBB to establish a number of infrastructure projects in the province in exchange for obtaining quantities of crude oil.

Al-Khafaji said in a statement, seen by "Al-Eqtisad News", that "this initial memorandum stipulated the implementation by the Chinese company of water and sewage projects, school buildings, road and bridge services and energy projects within the governorate, provided that the prices of these services be paid in the form of batches of crude oil that it produces." Governorate".

He explained that "this agreement is preliminary and the approval of the federal government will be obtained according to the law, so that the governorate moves forward with the inclusion of these projects and the final agreement with the Chinese company."





hxxps://economy-news.net/content.php?id=25072

[steephill cove] 14/5/2021 18:01

Definitely & post weekend press, more buys will flood in to take advantage of a double dividend payment. Yum Yum

[bigdog5] 14/5/2021 16:48

Last big shake out in the last great frontier?

Like its been hundreds of times over eleven years eh:-)

Summat definitely not happening innit:-)

[pensioner2] 14/5/2021 16:36

This felt like a blue finish all day. Trend reversal now in play? Find out Monday.

[bravedog] 14/5/2021 13:41

MOL

Do they have a right of first refusal in case of sale of Gulf Keystone ?

Thanks

[punter26] 14/5/2021 10:38

.....from the LSE Genel Energy b/board (13.05.2021.


Digby04

Malcy's take on KRG antics/ GENLThu 15:40

Genel Energy

Genel has, in line with other operators, received a letter from the Kurdistan Regional Government proposing an amendment to the repayment schedule for monies owed. Under the communicated revised payment terms, for each cent above a monthly dated Brent average of $50/bbl, 0.2 cents per paying interest barrel produced will be received towards monies owed (previously 0.5 cents per paying interest barrel). The revised payment terms are stated by the KRG to be a result of the Dated Brent price having consistently stayed well above $50/bbl, and the ongoing challenges presented by the COVID-19 pandemic in Iraq.

The KRG has stated that the amended payment schedule will be applied to the March 2021 invoices onwards, and that payment terms will be 60 days after the submission of invoices. The KRG has also stated that, should markets see substantial volatility, it will re-evaluate this payment model, override payments, whereby Genel receives 4.5% of monthly Tawke gross field revenues, will continue.

Whilst this is disappointing for Genel and all the Kurdistan players it should be taken in context and is not actually a loss of any income merely a short term deferral. This is because the KRG are, like many other countries under pressure from the Covid virus and a modest tinkering with the pay-out formula will help Governmental cash flow in times of austerity.

Indeed the companies operating in-country are financially robust and whilst it is never a valid reason to change policy on the hoof, it was probably not envisaged to see nearly $70 oil when the plan was put in place, a price that has in some places quadrupled company pay-outs.

For Genel it should not have any material effects, they have a very busy few months ahead including a potentially bullish drilling programme, the production profile looks good and finances are strong, investors should bear in mind when worrying about today’s share price fall that the shares are ex dividend some 10 cents. I remain confident that Genel remains in a very strong position, indeed the fact that this move has been made as oil approaches $70 should and could be read as a positive.




Boyobach


No Opinion

RE: Malcy's take on KRG antics/ GENLThu 17:33
Good old Malcy. It's as well he's not a painter decorator because that thickness of gloss would never dry.
The whole sorry saga is, of course, due to a bank collapse rather than covid, whilst the very recently improved oil price is to blame for having boosted the rate of repayments as well as the KRG's income to the extent that they wanted even more. Bless!
His ‘modest tinkering’ refers to around $110m of unilaterally grabbed loan which may now, perhaps, be repaid over three years rather than eighteen months (possibly without interest?) , plus the likely removal of one monthly payment from this year's balance sheet. Very satisfactory I'm sure - smiley face!
(sorry bunks - to atone I did buy back 40% of that trading tranche I sold at 180 at the close)

[nestoframpers] 14/5/2021 10:15

Time: 05/13/2021 12:03:38

{Economist: Al Furat News} Saudi businessmen revealed that Saudi companies are close to launching giant investments soon in Iraq in the areas of manufacturing industries, indicating that there are promising opportunities for Saudi products of building materials and food in the Iraqi market.

The businessmen explained in a press statement that "some Saudi companies specialized in raising livestock and cows have presented to the Iraqi government the idea of ​​investing 4 million dunums in the Western Desert between Anbar Governorate, passing through the cities of Karbala and Najaf to the Samawah Desert, with a contract extending for more than 50 years to cultivate." agricultural and cattle breeding crops.

for his part, Mohammed predicted leader Vice Chamber of Commerce and industry Chairman of Riyadh, to witness the Saudi - Iraqi relations prospects welcome , especially in the field of economic, commercial and investment cooperation, pointing out that the visit of Prince Khalid bin Salman , deputy Minister of Defense, Iraq, come under Continuous integration, communication and coordination between the two countries, pointing out that it is a visit that supports closer relations at all levels, including economic ones.

The guide added that "the opportunities for integration between the Kingdom and Iraq are great." Other areas that we will soon see their fruits ... The Iraqi market is large and Saudi products are well received in it. "

For his part, Abdullah Al-Melehi, President of {Tamayouz} said: "There are promising opportunities for Saudi products in the Iraqi market, as the Iraqi market is one of the great opportunities for Saudi products. In sharing borders with Saudi Arabia, an opportunity to export the Saudi product with the facilities provided by the Kingdom through The Saudi exports program to open new markets for manufacturers in the Kingdom, in addition to supporting the Kingdom’s government and the leadership’s keenness to build relationships in various fields.

Al-Melehi added: “The Iraqi market is promising and there are many export opportunities that national companies can benefit from,” adding that “the volume of Saudi non-oil exports to the Republic of Iraq amounted to 2.6 billion riyals ($ 693.3 million) during the past year 2020, while topping the list of the most prominent sectors. The exported building materials activity amounted to 859 million riyals (229 million dollars), and the foodstuff activity with a value of 790 million riyals (210.6 million dollars). "

Al-Melehi pointed out that "there is a tendency to offer investments in the oil and gas field to Saudi companies, indicating that discussions are underway with the concerned authorities to clarify investment opportunities, as investors are always looking for specific opportunities or privileges to bring them to the market, especially after the Saudi Export Bank announced granting investors financing for the field." Exports are a factor that attracts investors, "noting that" both Saudi Arabia and the UAE have allocated more than 6 billion dollars to invest in Iraqi lands, strengthen economic relations and create new opportunities for cooperation and partnership. "

Al-Melehi explained that "there are Saudi investment projects currently in the Iraqi cities of (Anah) and (Al-Qaim)," indicating that "there are investments that Saudi companies will soon launch in Iraq in the fields of manufacturing, agriculture and various projects, while Saudi investment companies offered specializing in livestock breeding and cows on the Iraqi government 's idea to invest 4 million acres in located between the Anbar province , passing through the cities of Karbala , Western Sahara and Najaf access to the desert of Samawah, a contract extends to more than 50 years for the cultivation of agricultural crops and cattle breeding.

He Malihi: "among the investments The Emirati and Saudi companies will implement them by producing some domestic industries in Iraq, as joint factories between Iraq and these two countries will be implemented ... Also one of the most important investment projects is the interest in electric power projects from Saudi Arabia and the United States.

Ammar Al-Masoudi

[pensioner2] 14/5/2021 10:00

Big boots in there getting filled again. Be interesting to see the next major shareholders list.