Gulf Keystone Petroleum Share Discussion Threads

[habshan] 02/6/2024 14:01

"Wasn't there several countries that were totally against Independence for Kurdistan?.
Wouldn't waiting for September 2025 and the expiry of the pipe contract bring that all back into focus?"

Who mentioned Kurdish Independence.

Kurdistan is a semi-autonomous region of Iraq with rights allocated to them under the constitution of Iraq and signed by the Iraqi Government in 2005 to manage their own Oil & Gas industry and sign their own contracts.

Exercising those rights doesn't cause them to cease being semi-autonomous.

Does it.

[redbed] 02/6/2024 14:00

ChicagoJack5

·

4m

#gkp #gkptakeover

Another laugh pre T/O RNS

CEO ( buckets of options already+ great salary) needs further huge rewards to stay just 7 mths 🤣

Why ? Buyers need him as key man for handover period post sale ,this their guarantee he stays 6 mths before jetting to Barbados

[redbed] 02/6/2024 13:59

Desperate working Sunday

Its wakey wakey on the East Coast across the pond , and for the 30,300th time Yankee Doodle Condog posts AND ONLY EVER ON THIS STOCK ( barely credible - LOL ) the paid American sentiment basher clocks in for work.
If CARLSBERG did BUY signals.
FILL YER BOOTS
TAKEOVER RNS INCOMING
THIS MONTH.

[hydrocarbon1] 02/6/2024 13:55

The meeting is to get the process right. The negotiations are in this direction and it is expected to resolve this matter. The oil contracts will be reviewed and an agreement will be reached regarding the entitlements of the IOCs,” Yahya al-Issawi, a member of the Iraqi parliament’s oil and gas committee, told Rudaw.

Nothing new there then 😂😂😂

[bigdog5] 02/6/2024 13:42

Wasn't there several countries that were totally against Independence for Kurdistan?

Wouldn't waiting for September 2025 and the expiry of the pipe contract bring that all back into focus? Can you not see that trying for independence angered Baghdad and has lead to the current impasse and problems they've been trying to solve for decades?

Something to consider is that both Erbil and Baghdad have problems accepting that the producers have been able to dish out attractive divis for pumping "their" oil. That's a big issue and is very likely to be addressed.

SP going to £2 on any agreement on anything? Over to you rampers:-)

[nestoframpers] 02/6/2024 12:08

Irrigation is a bit late for this year's harvest I'd have thought ?

[petebreeze37] 02/6/2024 11:57

Good recents posts, it does look like the top bully, Iraq, has been pegged back and slowly the krg and iocs are getting the upper hand.
It's not as though krg are losing much money whilst playing the waiting game and Turkey has the water garrote over Iraq.
The way my years are now rushing by, another 15 months until 'the september' is not long to wait.

[pittcock] 02/6/2024 11:48

And in 16months time Iraq will be locked out from Kurd oil forever. Tick Tock

[furenstaurus] 02/6/2024 08:37

ChicagoJack

@ChicagoJack5

·

6s

#gkp #gkptakeover

Buyback Program= PRE TAKEOVER

MAR stabilisation program�

Have only bought 0.633% of original issue in 3 weeks🤫

But share price +20.4 % 😇

Market protection continues

3 weeks or less to go and MKT BAD ACTORS be getting even more nervous.

Squeezed.

🚀🚀🚀🚀

[furenstaurus] 02/6/2024 08:36

ChicagoJack5

·

4m

#gkp #gkptakeover

Another laugh pre T/O RNS

CEO ( buckets of options already+ great salary) needs further huge rewards to stay just 7 mths 🤣

Why ? Buyers need him as key man for handover period post sale ,this their guarantee he stays 6 mths before jetting to Barbados

[shortsqueezer] 02/6/2024 07:42

Not necessarily a change of heart from that statement in March. I do believe that there must be some form of agreement though, to even be scheduling a meeting.

[martyre] 02/6/2024 07:34

https://www.apikur.uk/publications/facts-and-stats-apikur-marks-1-year-anniversary-of-the-halt-of-oil-exports-through-the-iraq-tuerkiye-pipeline/Based on the above link it appears there has been a change of heart by APIKUR

[highlander7] 02/6/2024 04:18

APIKUR@apikur_oil: 9h

🔴FACT CHECK: On May 27, our press release said: “Should such agreements require modifications to existing contracts, APIKUR member companies are willing to consider this if agreed between the GOI, KRG and individual IOCs.”

The lie ...

Draw English@DrawMediaNet:14h

“The oil companies in the Kurdistan region are not ready to amend their contracts” Iraqi Prime Minister Mohammad Shia al-Sudani said in an exclusive interview with Anadolu.

[hangthedj] 01/6/2024 22:17

If GKP weren't incurring development costs and were simply pumping at say $14 a barrel and the Kurds getting their money from the national budget then at say 60kbpd they presumably would be paid:-

60k x 30 days x $14 = $25.2 million a month or $302 million a year just for pumping the oil

---------------

My understanding, the current PSC is a complicated formula but if in future with export pipeline open and GKP weren't recovering past costs (or incurring future development costs) we'd receive around $7 per barrel which would result in around 50% of the above calculation being more accurate.

Of course we all live in hope that the outstanding $151m will be recovered somehow or at least the $120m of that figure (which is recovery costs) being added back to the CRP and recovered in the future via the PSC calculation.

[adamrugen1066] 01/6/2024 21:00

Only Iraq is in a hurry to resolve this as they are the ones who look stupid on the international stage; Al-Sudani made promises to everyone and now is seen as being unable to deliver. IOCs can do better than $16.

[nestoframpers] 01/6/2024 20:30

That would be very nice but I'd rather just see the end of GKP TBH.

[habshan] 01/6/2024 20:03

Just a mull.

"They have not yet agreed on a fixed price for the cost of oil production, but I expect it to be $12 to $16 per barrel," he said."

No idea what the contract terms would be for APIKUR to be happy with that, they've said many times that their commercial and contractual entitlements need to be met otherwise no exports.

But that price doesn't include any cost recovery because they need $26. $12-16 would simply cover the cost of pumping a barrel of oil. So if there's no cost recovery it's because the IOCs aren't paying the costs.

How much the current PSC would pay if the cost pool was empty I don't know so can't make the comparison.

And would the KRG be happy. Personally I can't see the Kurds going for it.

One thing I do know is that if APIKUR and the Kurds aren't happy there'll be no exports, they'll just sit it out until next year.

If GKP weren't incurring development costs and were simply pumping at say $14 a barrel and the Kurds getting their money from the national budget then at say 60kbpd they presumably would be paid:-

60k x 30 days x $14 = $25.2 million a month or $302 million a year just for pumping the oil.

So if their current costs of $6 million a month to cover maintenance and overheads still applied they'd have $173 million a year profit with 10% of that going to MOL leaving $156 million.

And with no development costs to pay for what would they do with that exactly.

Distributions?

That would be 57p per share per year with 217 million shares in issue, more if they continued with buybacks.

In addition, any deal would need to address the $151 million arrears and with $100 million currently in the bank that would mean $250 million with nothing to spend that on either.

If they retained the $100 million in the bank and returned the arrears to shareholders it would be a one off 55p per share.

Anybody???

[luckyclicker] 01/6/2024 18:49

https://x.com/john78846295/status/1796958407292850362?t=ZYWT0euwHeIWvbD1zZCjXQ&s=19

[luckyclicker] 01/6/2024 18:49

The meeting is to conduct the process properly. The negotiations are in that direction and this issue is expected to be resolved. The contracts will be reviewed and an agreement will be reached on the entitlements of the oil companies. "They have not yet agreed on a fixed price for the cost of oil production, but I expect it to be $12 to $16 per barrel," he said.