Gulf Keystone Petroleum Share Discussion Threads

[shaftdrive1] 26/10/2016 10:26

And yes,those 2 figs show what a basket case of an investment Kurdistan is....I rest your case!

[oil_investor] 26/10/2016 10:19

Oh dear.

Nicebut has to see the negative in today's announcement by GKP.

Payment has been received from the MNR for August 2016 Shaikan production, meaning that every barrel of Shaikan oil produced between 1 January 2015 and 31 August 2016 has been paid for. I keep mentioning that the KRG are paying for production.

The current cash-at-bank is now $108.9 million which means that, after deducting from that the new 10% bond of $100 million, GKP has zero net debt and has a surplus of $8.9 million. Not many IOCs are in such a position.

The September 2016 production has not yet been paid for by the KRG, but it's not as if GKP is exactly desperate for that money, is it?

And only yesterday afternoon Dr. Ashti announced that the KRG owes the International Oil Companies $2 billion. You've got to roll with it, as the song says.

And let's take a quick look at GKP versus Genel, as at the time of writing:

MARKET CAPITALISATIONS

GKP: £292.5 million
Genel: £230.5 million

DEBT POSITIONS

GKP: surplus cash $8.9 million
Genel: net debt $241 million

All to play for.

[wife beater gkphero] 26/10/2016 10:11

PS

Still need your name, address and picture. Your gold sheriff badge is ready to be despatched.

[shaftdrive1] 26/10/2016 09:08

Wow...it's like the sketch from the Fast Show!....right,Bob gives you £5 that he owes you,then you give that to Ahmed. He then pays you the £5 he owes you (minus handling costs) Then you lend Bob £5 (minus costs for late transaction ) cos he's skint...🙊
28584;🙉

[nicebut] 26/10/2016 09:03

How much money did the MNR/KRG charge for taking back the PSCs? And yet they still can`t keep to their side of the bargain on paying up promptly...

#nowonderitsapenny

[shaftdrive1] 26/10/2016 08:51

Cripes,a donkeython,with the kurdykripples lurching from bunker to bombhole.
Don't you guys ever get brassed orf about living in the past? Do the backbenchers really believe the bawwaboyz will be brought to the Front Bench? and all the sqwabbles will restore any value to the sp? Take it on the chin.you were had. Treacletongue Trench led some up the yella brick,but at the time he had a faithful following. It's (was) Aim,it's dirty oil (in virgin John Wayne country) among a corrupt collection. Lies,truth bending,poo,IS....what bit don't you get to give a case of LANDMINES! 💣💥 STAY OUT OF KURDISTAN 💰= 🐍= 👳= 🐽 = 💰💥

[lardner23] 26/10/2016 08:30

Genel: expecting lower end of previous guidance figures and Chia Surkh likely to be written down to a nominal amount from previous value of $198m.

[withoutt] 26/10/2016 08:20

Thing I like about the Genel RNS is they praise the MNR/KRG payment system to the hilt, then cut everything back to the bone,because basically they're not being paid.

Perhaps there's clauses in the PSCs, if we're shafting you praise even more.lol-:)

[nicebut] 26/10/2016 08:13

Due the poxy formula used by the KRG

KRG still short changing- hence one reason for the drop.

`-- Amounts invoiced for the nine months ended 30 September 2016, after associated CBP payments, are $9 million less than PSC entitlement, with the difference attributable to the proxy formula used by the KRG to calculate payments for current sales (as stated in the half year results of 28 July 2016)

-- Unrestricted cash balances at 30 September 2016 stood at $405 million ($407 million at 30 June 2016). Net debt at 30 September 2016 stood at $241 million ($237 million at 30 June 2016)

-- Capital expenditure for Q3 2016 totalled $20 million, with the majority of spend on the development programmes at Taq Taq and Tawke. Capex for the nine months ending 30 September 2016 totalled $52 million

-- The net receivable with the KRG for unpaid production stood at $437 million at 30 September 2016 ($412 million at 30 June 2016)`

[withoutt] 26/10/2016 08:12

Mr Roper
If your about I see Xcite energy have called in the liquidators.

[ohdearohdearohdear] 26/10/2016 08:12

Is joseki still talking about Bob?

[withoutt] 26/10/2016 08:09

Genel taking a good kicking.

[joseki] 26/10/2016 08:05

NB, everyone knows. Bob is either a paid rampist or an ignorant rampist.

Regardless, he is a fraudulent chap combining delusion with stupidity. If he had known of bad flows and still pumped Gulf and Todd stories, then shouldn't he be blamed by his direct friends?

Mr Roper? Still best buds? Were you at the Muppets Munch?

[asaiya] 26/10/2016 07:52

Beyanî baş

The Turkey Genel...
GUIDANCE AND OUTLOOK



· Following production performance at both Taq Taq and Tawke for the nine months ending 30 September 2016, and the near-term activity outlook for both fields, 2016 production is now expected to be at the lower end of the previously communicated 53-60,000 bopd guidance range

· Capital expenditure for 2016 is now expected to be below the previously communicated range of $90- 110 million. This is largely due to the refined development programmes at Taq Taq and Tawke, as well as lower forecast spend on Miran and Bina Bawi and the remainder of the portfolio

· Based on the revised production and capital expenditure guidance above, 2016 revenue is now expected to be at the lower end of the previously communicated $200-230 million guidance range

· Production and G&A cost guidance are maintained at $1.50-1.75/bbl and c.$25 million respectively

· As previously announced, the Company intends to produce an updated Competent Persons Report for the Taq Taq field in Q1 2017
-------------------------------------------------
I is telling my disappearing friend zor sipas it is a turkey - mine portfolio is doing greats. Espeshally whens this turkey becomes 57p next years. Even my animal stocks, my only longs is doing me a rich man!

Xoşbext bî

[ohdearohdearohdear] 26/10/2016 07:46

Poor update from Genel. Might be a good buy at 70p.

[nicebut] 26/10/2016 07:34

Hi dizzy,

How you doing?

Exactly...OIP is meaningless- especially if the Co aren't going to tell you the other facts about the well...Errr like that it doesn`t flow oil (SA-1)or doesn`t flow oil but water and needs a sidetrack (SH-6).

Also O_i was being v disingenuous above- He know exactly who I meant WRT to SH-6. Why didn`t GKP tell DGA about the failed SH-6 tests? DGA had just upped the OIP in July `12 but as JG said, when asked, they didn`t tell DGA anything..

So why was OIP figs given to shareholders but flow rates or lack of, hidden from shareholders?

[joseki] 26/10/2016 07:16

oil_investor15 Oct '16 - 09:32 - 523068 of 525261 11 8
nestoframpers:

Oh dear.

I asked Nicebut to agree that John Stafford disagreed on video with what his previous employer ERC had said in the CPR about Shaikan-6.

Because once we can all agree upon what Stafford said...
--------

Well well well.

What did Stafford say to Bob at the Muppets Munch? He and Wildrider admitted the luncheon, 'how does joseki know? He must be Stafford'

People are still awaiting Joanna Southcott's lunchbox.

[withoutt] 26/10/2016 07:08

payment update, better late than never £2.00 TODAY. lol