Gulf Keystone Petroleum Share Discussion Threads

[luckyclicker] 06/6/2024 10:28

https://zoomnews.info/en/41364/

[luckyclicker] 06/6/2024 10:27

SULAIMANI, Kurdistan Region - A high-level delegation from the Kurdistan Regional Government (KRG) and international oil companies operating in the Region's oil fields will visit Baghdad next week at the request of the Iraqi Oil Ministry. The visit aims to address issues concerning the resumption of Kurdistan's oil exports, according to a statement released by the KRG on Wednesday.In its Wednesday meeting, the KRG discussed the Kurdistan oil exports, emphasizing the mechanisms and efforts undertaken to resolve the issue. The statement highlighted ongoing discussions between the KRG and the Iraqi Federal Government to expedite the resumption of oil exports.The KRG's statement detailed recent efforts by all parties to resolve the impasse over Kurdistan's oil exports. It announced that a high-level delegation from the KRG and international oil companies, invited by Baghdad, will visit next week to discuss solutions and overcome the obstacles hindering the resumption of oil exports.It also emphasized the its commitment to achieving an inclusive and balanced solution regarding the Kurdistan oil export issue, in accordance with constitutional principles and respecting the powers of the Kurdistan Region."The Kurdistan Regional Government is reaffirming its commitment to achieving a balanced and comprehensive agreement, in accordance with the constitution, to resume oil exports from Kurdistan through the Iraqi State Organization for Marketing Oil (SOMO). The revenue from these exports will be allocated to [Iraq's] public treasury, respecting both the constitutional framework and the distinguishing features of the Kurdistan Region's powers," reads the statement.

[redbed] 06/6/2024 10:27

#gkp #gkptakeover
@Gulf_Keystone
CEO " stay bonus " payable if he stays at the helm for handover post sale.

Selling 1 share is a crime.

[redbed] 06/6/2024 10:26

It doesn't matter - what is blindingly obvious and agreed is the company is sold TBA

[bertrambee1] 06/6/2024 10:21

They won't agree on anything apart from when the next free lunch will be

[confused _gerbill] 06/6/2024 09:50

Don't know if there will be amount disputes, but if the salary is being paid in good time, then that suggests to me that SOMO / ICG are expecting an outcome to the oil negotiations to fund the payments and increased budget outlays 🤷🏻‍♂️

hxxps://www.rudaw.net/english/kurdistan/060620241

ERBIL, Kurdistan Region - Iraq on Thursday deposited into the Kurdistan Region’s account the salaries of civil servants for the month of May, the federal finance ministry announced, without specifying the amount of money sent.

“The accounting department of the Ministry of Finance began sending the salaries of civil employees of the Kurdistan Region,” Iraq’s finance ministry said in a statement.

The funds disbursed include those of the “disabled in the directorates of the social protection, care and social development network, the salaries of civil and military retirees, entitlements of the [Ministry of] Martyrs and Anfal Affairs, contracts, and the entitlements of the region’s departments,” the ministry added.

Iraq’s Federal Supreme Court in February ordered the Kurdistan Regional Government (KRG) to submit a breakdown of the monthly budget for the Region’s employees’ salaries to the finance ministry so Baghdad could start paying the Region’s share from the federal budget.

The ruling mandates the Kurdish government to open accounts for its employees at Iraqi state-owned banks - a process dubbed Tawtin (localization) by Baghdad.

On Tuesday, Iraq’s state-owned Trade Bank of Iraq (TBI) issued its first batch of debit cards for Kurdistan Regional Government (KRG) employees as part of the Kurdish government’s initiative MyAccount, aimed to stop paying its employees in cash.

Six private banks are involved in offering digital banking services to the KRG’s over a million public employees. The federal government has shouldered the payment of the employees since the beginning of this year but has yet to agree to continue the process through My Account. Baghdad wants to apply its own banking initiative, Tawtin.

KRG officials claim that the TBI has joined the My Account initiative and that the bank is offering banking services to its employees in the framework of the initiative. The TBI has not confirmed this, instead using the word Tawtin - a process the KRG has campaigned against - in its statement about the process last month.

The KRG has failed to pay the salaries of its civil servants on time and in full for a decade due to a financial crisis which deteriorated when a ruling by a Paris-based arbitration court suspended its export of oil to the international markets over a year ago. The Kurdish government now relies on local income and its controversial share from the federal budget.

Erbil has repeatedly accused Baghdad of not making regular payments of its share of federal funds. Last June, Iraq passed a three-year budget of which the Kurdistan Region's share is 12.6 percent. Baghdad has claimed it has fully implemented its financial obligations to the KRG, including through loans to assist the Region in paying the salaries of its civil servants.

[herbertsmithfreehills] 06/6/2024 09:14

Must be incredibly illiquid market

[eddie47] 06/6/2024 09:10

No stock or what? Are they going to have to raise the price?

[herbertsmithfreehills] 06/6/2024 08:48

#gkp #gkptakeoverWalleye capital are still over 1.5m shares short @Gulf_Keystone This must be a conundrum for them.??https://x.com/111notout1/status/1798628269937553638?t=q_yDYBnRB2U8C7R95fNptA&s=19

[beernut1] 06/6/2024 07:45

KRG delegation will visit Baghdad next week to agree on resuming stalled oil exports: official
Kurdistan
Iraq
Erbil
Baghdad
Oil
Kurdistan
Turkiye
Ceyhan
KRG delegation will visit Baghdad next week to agree on resuming stalled oil exports: official
2024-06-05 17:26


Font
Shafaq News/ The Kurdistan Regional Government (KRG) said on Wednesday it will send a delegation to Baghdad next week to discuss restarting oil exports, a key revenue stream for both sides that has been stalled for over a year.
The announcement came after a regular meeting of the ninth KRG cabinet, chaired by Prime Minister Masrour Barzani, earlier today.
The talks, according to an official press release by Barzani's bureau, aim to overcome obstacles that have hindered oil exports since March 2023, causing significant financial losses for both the federal and regional governments.
"The delegation, which will include representatives from the KRG and oil companies, will focus on finding mechanisms to address all hurdles impeding the resumption of oil exports," the KRG statement said.
The premier reiterated the KRG's commitment to reaching a "comprehensive and balanced agreement" based on Iraq's permanent constitution.
Such an agreement would see oil exported through the federal State Organization for Marketing of Oil (SOMO) with revenues deposited in the national treasury.
The KRG has previously stressed its autonomy over its oil resources, leading to long-standing tensions with Baghdad. However, the statement suggests a willingness to compromise to resume exports.
"The KRG government is prepared for dialogue and negotiation to reach an agreement," he said.
On May 28, Iraq's oil ministry called for meeting "as soon as possible" with the Kurdistan Region's ministry of natural resources and international companies operating there to reach a deal on resuming oil exports via a pipeline to the Turkish port of Ceyhan.
Traffic via the Iraqi-Turkish oil pipeline, which once handled about 0.5% of global oil supply has been halted, stuck in legal and financial limbo, since March 2023, and talks to resume the exports have stalled.
The sharing of oil revenues between Iraq's federal government and the semi-autonomous Region in the north has been a cause of tensions between the two sides.
Flows through the pipeline were halted after the Paris-based International Chamber of Commerce in a longstanding arbitration case ruled Ankara had violated provisions of a 1973 treaty by facilitating such exports without the consent of the Iraqi federal government.

[herbertsmithfreehills] 06/6/2024 07:25

Shamaran $SNM, Gulf Keystone $GKP and DNO $DNO are probably the best asymmetrical risk propositions I've ever encountered. SNM will earn >1x its current market cap - per year - in net earnings when the ITP reopens. https://x.com/alexeliasson/status/1777289785859801211?t=uZxYnKolRdSWsY2kI_iVEQ&s=19

[furenstaurus] 06/6/2024 07:18

#gkp #gkptakeover
Update on the pre Takeover stabilisation program.
😎

[furenstaurus] 06/6/2024 07:13

It’s a side show , the company is sold TBA , that is blindingly obvious.
Just wait for the AGM resn to be formally passed, then a formal sale announcement will follow

[fardels bear] 06/6/2024 07:11

You make the coffee, do you?

[arcadian] 06/6/2024 07:11

H7

They could be resolving all the problems as they perceive them to be not as the KRG or APIKUR see them.

Waiting and GKP are synonymous.

[petebreeze37] 06/6/2024 07:10

Being a realista and party pooper, I dont see this being resolved quickly or at all but Bagdad seemed to have been jolted into action by an outside source.
Im not overly worried either way because gkp are performing very well without Bagdad, and september looms

[furenstaurus] 06/6/2024 07:10

#gkp #gkptakeover



Update on the pre Takeover stabilisation program.



😎

[redbed] 06/6/2024 07:09

What you think is irrelevant.Read the execution program RNS.....Then you don't need to think.It tells you lolIt continues in a closed period

[richscotsman] 06/6/2024 07:07

... But I don't think they can start a new one in a closed period...

[furenstaurus] 06/6/2024 07:04

#gkp #gkptakeover

Update on the pre Takeover stabilisation program.

😎

[furenstaurus] 06/6/2024 07:04

It continues in a closed period….lol

[highlander7] 06/6/2024 07:04

Like politicians the world over you believe it when it happens.

[richscotsman] 06/6/2024 06:59

They only seem to have spent £2.1m of the $10m buyback cap. I wonder if the buy back period will be extended or if the company will be prevented from doing this by being in a closed period.

[furenstaurus] 06/6/2024 06:52

#gkp #gkptakeover
Update on the pre Takeover stabilisation program.
😎

[redbed] 06/6/2024 06:51

It's a side show , the company is sold TBA , that is blindingly obvious.Just wait for the AGM resn to be formally passed, then a formal sale announcement will follow.