Gulf Keystone Petroleum Share Discussion Threads

[redbed] 30/5/2024 21:16

https://x.com/111notout1/status/1796246608193196530?s=61&t=EEAJRmerpfLiAmForyb8Dw

[redbed] 30/5/2024 21:16

Production share implies oilcos own reservesThat's politically a no noProfit share comes to the same thing economicallyThat's easy to sell politically.Its the basis for new contract rounds in the south..Its just what SINOPEC ordered

[confused _gerbill] 30/5/2024 21:15

From.LSE


Khamis al-Khanjar, leader of the Sunni Sovereignty Alliance, underscored the importance of PM Barzani's visit to Baghdad, predicting that all issues will be resolved in the next few days.

Hope this dudes predictions are better than the oil ministers prediction about the 3 days.

It’s been reported on multiple outlets so appears promising.

hxxps://www.basnews.com/en/babat/850126

hxxps://www.kurdistan24.net/en/story/35171-PM-Masrour-Barzani-stresses-Baghdad%E2%80%99s-responsibilities-in-resolving-Erbil-Baghdad-issues

Also

PM Barzani: There will be a meeting in Baghdad next week between Ministry of Natural Resources, Ministry of Oil, & IOCs.

hxxps://x.com/john78846295/status/1796254567598076111

In the meantime, local sales, strong FCF, and buybacks continue.

[redbed] 30/5/2024 21:15

https://x.com/111notout1/status/1796246608193196530?s=61&t=EEAJRmerpfLiAmForyb8Dw

[redbed] 30/5/2024 21:13

Production share implies oilcos own reservesThat's politically a no noProfit share comes to the same thing economicallyThat's easy to sell politically.Its the basis for new contract rounds in the south..Its just what SINOPEC ordered

[redbed] 30/5/2024 21:13

Genel up over 6% today.

[redbed] 30/5/2024 21:12

Iraqi Foreign Minister last April - "Iraqi Foreign Minister Fuad Hussein said during an interview with Rudaw that the Kurdish oil will be sold at the same price SOMO sells it's own oil in the global markets following a deal between Erbil and Baghdad."

[hangthedj] 30/5/2024 20:49

Yes but the discount will still apply when paying the contractors via the PSC calculation.

Think MINISTER Faud has been known to speak with forked tongue and that's being kind to him.

[habshan] 30/5/2024 20:33

Iraqi Foreign Minister last April - "Iraqi Foreign Minister Fuad Hussein said during an interview with Rudaw that the Kurdish oil will be sold at the same price SOMO sells it's own oil in the global markets following a deal between Erbil and Baghdad."

[hangthedj] 30/5/2024 20:25

Surely a bit unrealistic to expect the approx $32 discount to Brent which was in place prior to pipeline closure to be eliminated completely?

[hangthedj] 30/5/2024 19:17

The terms of the PSC and contractor payments is quite a complicated equation to get your head around but basically after historical costs are recouped the 36% figure will no longer apply, It'll be a lower percentage.
Think probably $50 rather than $86 per barrel more realistic with pipeline open when you consider historical discount even if sales are legitimised via SOM0 or however.
Finally not sure ongoing expenditure will remain as low as $6m per month if we're to maintain 60kbpd.

Still very profitable but perhaps more realistic?

[steephill cove] 30/5/2024 18:47

Yes Goldman Sachs know exactly about Gulf Keystone Petroleum. Listed as one of the 8 biggest projects on planet earth 🌍 & called GKP “Shaikan in the Making” ✅

Goldman Sachs now have a GKP holding that just keeps on getting BIGGER day by day 😆

🚂🛢️🏁942;📈㈑6;💰💰💰💰💰💰8176;💰ԁ76;BN+

[broadford bay] 30/5/2024 18:42

hi bigdog,
don't believe a word of it - Kuwait is most definately NOT selling 2 million barrels a day of their VERY Heavy 10-18API crude. The selling prices mentioned by Habscam are NOT for the heavy stuff.
Kuwait currenty sells ONE grade - Kuwait Export Grade at ca 31API and S2.5%-S5%%
Yes, they have enormous reserves of very heavy sour crude similar to Shaikan heavy but they are not selling it - they are processing it in their own new, modern, hi-nelson refineries and benefitting from selling a range of refined value-added hydrocarbon fluids.
They do it themselves because the market valued their heavy stuff at near-Canadian prices and they decided some years ago that enough was enough.
Their latest al-Zour refinery (capacity ca 600-700Mbopd) is estimated to have cost them about $27Bn.
SH, as you are aware, is currently ca 17API and S5%-6%.

[steephill cove] 30/5/2024 18:41

IMHO:- Iraq 🇮🇶 PM Sudani & OM Ghani have less than 13 weeks to do a deal & reopen the ITP ✅

If it gets to less than 12 months to go; the Kurds will just decide to sit tight & do a new deal on the ITP with 🇺🇸🇬🇧7481;🇷Ӻ66;🇺

[0ili0] 30/5/2024 18:38

Bigdog5 down 100% 🤣🤣🤣

[habshan] 30/5/2024 18:36

"You are in for a massive surprise sarah."

Tell me, how in your opinion are the ICG going to prevent the current ITP agreement from expiring in a little over 15 months from now.

[steephill cove] 30/5/2024 18:35

Calling all Goldman Sachs employees “Roll Up! Roll Up!“ 📣

ICG calling an urgent meeting to legitimise ALL Kurdistan IOC contracts ✅

The GKP PRICE IS RIPE for your 25 x Annual Salary Growth Bonus 😆👍📈⬆ʊ39;🆙💰;💪

[whl2] 30/5/2024 18:33

Genel up over 6% today.

[steephill cove] 30/5/2024 18:33

Bigdog5 clucking like a headless chicken! 🐔

Not going your way is it luv? 😆

[bigdog5] 30/5/2024 18:27

You are in for a massive surprise sarah.

[habshan] 30/5/2024 18:11

"Are you sure about those numbers sarah:-)"

Yes they're certainly impressive aren't they, glad they got your attention, that 10-20 API sludge is good stuff.

But you're right.

Here's the Kuwait Petroleum Corporation site that shows Kuwaiti crude selling yesterday not at $85.53 but at $86.39 and they should know better than anyone how much they're selling their own oil for:-



That would bump up GKP's net profit from $593,081,280 to $599,768,640.

Let's call it a round $600 million a year net to GKP.

Here's another impressive number for you .

No idea how much they would spend developing the field but let's say $100 million a year.

That would leave $500 million a year to distribute to shareholders if they felt so minded.

The current buyback will leave around 217 million shares in issue.

So that would mean a dividend of £2.30 per share per year.

Hope that helps.