Gulf Keystone Petroleum Share Discussion Threads

[worldquant] 18/5/2024 19:06

Lol.Parliament security forces intervened to break up a brawl that erupted in the Iraqi legislature ahead of a vote for a new speaker..https://x.com/rudawenglish/status/1791905908454289617?s=61&t=EEAJRmerpfLiAmForyb8Dw

[worldquant] 18/5/2024 18:53

Errrm.Sinopec can build their own pipeline for Shaikan

[mmt1] 18/5/2024 18:47

This is Iraq Habs - I think we all knew nothing is easy ;)

[pittcock] 18/5/2024 18:46

Another day closer to the pipeline agreement ending, then the oil companies can sidestep all this sh1te.

[worldquant] 18/5/2024 17:14

Wrong .What's so special about gkp?Above 10,000 + cos?IG told me they couldn't afford to pay their brokers costs...Lol

[mmt1] 18/5/2024 16:59

IG are a business. A bookie has hedge risk management depts. They have decided to many people on their books are futures GKP bets, and effectively they cannot hedge and offer that bet..

It means we are most probably a very volatile share (I call it the gamblers share).

They think we are unstable to their books and have decided to reduce risk.. they don't study the ins and outs of gkp.

That is all.

[redbed] 18/5/2024 16:43

They make mkts in everything.But apparently they could not make mkt in little old insignificant gkp.Lol.There is a huge long position there.

[mmt1] 18/5/2024 16:40

For info:

IG are a predominanitly old fashioned booky, well they started that way. I used to hold effectively a fairly hefty sum in SIA/PHAR - I know they hedged it... they even gave me the option to to transfer shares to them for a percent of cash on book rested with them time at LIBOR daily which I took... I had a personal account manager at the time called Al. I haven't checked, but redbed could be right.. Could understand why ig don't take bets on gkp yet ci do... probably due to to someone having a large spread bet on gkp they don't wish to close and are happy to roll..

[johnbuysghost] 18/5/2024 15:56

GKP has been 'in play' since 2012.
I know this sounds idiotic to most, but the city knew the outcome from the first 2009 oil strike........

GLAlongs!!

[redbed] 18/5/2024 15:41

Bob doth protest too much lol.Bob doesn't understand what is happening here..Antitakeover DefensesIn response to these hostile takeover techniques, targets usually devise the following defenses:1. Stock repurchaseStock repurchase (aka self-tender offer) is a purchase by the target of its own-issued shares from its shareholders. This is an effective defense that successfully passed such prominent antitakeover defense cases as Unitrin above and Unocal Corp. v. Mesa Petroleum Co.

[bobgray51] 18/5/2024 15:14

Yes if a company chooses to buy all of their own shares then this is defence tactic. Which is I believe what happened in the example you cited. That clearly isn't happening here. Either way, I don't pretend to know everything, and frankly there is no point arguing with someone who spams the board constantly with takeover and share price to the moon predictions that never materialise. A part of me is in admiration that you can keep it going on such a constant basis.Shortsqueezer, the share price rise is multifactorial, but it's likely related to fact that the majority of people recognise that this is a sensible move by management and demonstrates good leadership. It also underpins the price for a while, so less risk of big drops. Also the company results show it as producing 7 million free cash flow per month with no debt. The share buyback is part of the rise, but there are lots of other positives to want to buy into the company right now. Hopefully this continues.

[shortsqueezer] 18/5/2024 14:27

V interesting. Thanks

[shortsqueezer] 18/5/2024 13:56

Makes sense but how are you working out the free float? There has never seemed to be any difficulty buying as far back as I can remember

[worldquant] 18/5/2024 13:37

SS it correlates when you think that probably only around 5% maximum of the stock is liquidly tradeable if that!!!.That's why this defence tactic is going to force the price up / force a public bid / increase ultimate price paid.

[worldquant] 18/5/2024 13:33

Bob doesn't understand what is happening here..Antitakeover DefensesIn response to these hostile takeover techniques, targets usually devise the following defenses:1. Stock repurchaseStock repurchase (aka self-tender offer) is a purchase by the target of its own-issued shares from its shareholders. This is an effective defense that successfully passed such prominent antitakeover defense cases as Unitrin above and Unocal Corp. v. Mesa Petroleum Co.

[grouchomarx] 18/5/2024 13:15

Totally agree.

[johnbuysghost] 18/5/2024 13:13

It's a takeover by stealth and the BOD have got wind of it imo.

[shortsqueezer] 18/5/2024 13:04

I can see that. But we've only bought just over 300k but the share price has risen over 10 percent. That doesn't correlate Not that I'm complaining.

[bobgray51] 18/5/2024 12:40

This is one of two ways to return value to share holders. If the price of the stock is overvalued, then dividends are better for shareholders. If undervalued then buybacks are better. It's as simple as that. Occasionally buybacks can and are used to artificially inflate a stocks price so that management hit their performance targets. But this is not the case here. Management are being very sensible. There is no ulterior motive or anything shady. And it's not some kind of takeover defence or order book working. The stock is relatively liquid. It trades several million shares a day, every day. Buying 10 million of stock and cancelling these shares makes everyone who owns shares in the company richer. We all benefit. When the pipeline opens we will doubly benefit.