Gulf Keystone Petroleum Share Discussion Threads

[chinese_takeaway] 22/4/2020 16:13

GKP AND BUYERS implementation agreement Jun 2019, hence buybacks, and CFO change, were conditions of the agreement, EXECUTION of the agreement announced shortly. Initial ApproachThe first step in the scheme process will typically involve the bidder approaching the target with an indicative offer to propose a scheme under which bidder would acquire 100% of target.Due DiligenceIf the target is amendable to the bidder's offer, the target will typically grant the bidder a period of due diligence (either on an exclusive or non-exclusive basis) so that the bidder can confirm its interest in the target and the amount of consideration to be offered by the bidder.Scheme implementation agreementBEFORE the scheme proposal is PUBLICLY ANNOUNCED , the bidder and the target will typically enter into a 'scheme implementation agreement' which: sets out the terms of the scheme and commits the bidder and the target to the scheme transaction;obliges the target to propose the scheme to target shareholders, and to ensure that the target directors recommend that target shareholders vote in favour of the scheme in the absence of a superior proposal; andsets out how the bidder and target will work together throughout the approval process.( New buyers CFO) The scheme implementation agreement will typically contain 'deal protection mechanisms' such as:'no shop', 'no talk' and 'no due diligence' obligations on the target to seek to prevent the target from proactively generating rival bidders;a notification and matching right for the bidder to be notified of and have the opportunity to match any third party offer for control of target before target directors may recommend that third party offer to target shareholders; anda break fee (generally not exceeding 1% of the equity value of the target) payable by target to bidder if a third party is successful in obtaining control of target or if the target directors change their recommendation to vote in favour of the scheme in certain circumstances.The scheme is typically publicly announced for the FIRST time when the scheme implementation agreement is EXECUTED . GKP AND BUYERS implementation agreement Jun 2019, hence buybacks, and CFO change, were conditions of the agreement, EXECUTION of the agreement announced shortly. Initial ApproachThe first step in the scheme process will typically involve the bidder approaching the target with an indicative offer to propose a scheme under which bidder would acquire 100% of target.Due DiligenceIf the target is amendable to the bidder's offer, the target will typically grant the bidder a period of due diligence (either on an exclusive or non-exclusive basis) so that the bidder can confirm its interest in the target and the amount of consideration to be offered by the bidder.Scheme implementation agreementBEFORE the scheme proposal is PUBLICLY ANNOUNCED , the bidder and the target will typically enter into a 'scheme implementation agreement' which: sets out the terms of the scheme and commits the bidder and the target to the scheme transaction;obliges the target to propose the scheme to target shareholders, and to ensure that the target directors recommend that target shareholders vote in favour of the scheme in the absence of a superior proposal; andsets out how the bidder and target will work together throughout the approval process.( New buyers CFO) The scheme implementation agreement will typically contain 'deal protection mechanisms' such as:'no shop', 'no talk' and 'no due diligence' obligations on the target to seek to prevent the target from proactively generating rival bidders;a notification and matching right for the bidder to be notified of and have the opportunity to match any third party offer for control of target before target directors may recommend that third party offer to target shareholders; anda break fee (generally not exceeding 1% of the equity value of the target) payable by target to bidder if a third party is successful in obtaining control of target or if the target directors change their recommendation to vote in favour of the scheme in certain circumstances.The scheme is typically publicly announced for the FIRST time when the scheme implementation agreement is EXECUTED . 

[bigdog5] 22/4/2020 16:11

Merger looking the only way to survive unless bonds/placing can be negotiated and that won't be easy at this time.

[bigdog5] 22/4/2020 16:10

Consolidation within Koruptistan looks a certainty what with very low oil prices for a long time.

Genel and DNO's breakeven number will be being analysed.

[chinese_takeaway] 22/4/2020 16:09

Price paid? I'm counting 2c as 2p, given a signature on the BUYERS FDPMakes it around 650m 2p minimum.#$ per 2P? Worst case $3 best $18. $1.95bn - 11. 5bn (£7--£42/share)Let's be very prudent say $5/2p = £ 11.80 /share

[chinese_takeaway] 22/4/2020 16:09

#GKP Sale implementation agreement made June 2019.Buyers China =Beijing based new CFO.Buyback ended 3/13 with $50m buying 19.6m sh = 8.54% shares which took out major shareholder of 2016 Restructure Capital pre agreed terms Straight after 3/13 to 1/4 in just 2 weeks Lansdowne buy further 2.1m shares and JPMorgan +4.65 mDeal incoming#GKP Sale implementation agreement made June 2019.Buyers China =Beijing based new CFO.Buyback ended 3/13 with $50m buying 19.6m sh = 8.54% shares which took out major shareholder of 2016 Restructure Capital pre agreed terms Straight after 3/13 to 1/4 in just 2 weeks Lansdowne buy further 2.1m shares and JPMorgan +4.65 mDeal incoming

[chinese_takeaway] 22/4/2020 16:08

GKP AND BUYERS implementation agreement Jun 2019, hence buybacks, and CFO change, were conditions of the agreement, EXECUTION of the agreement announced shortly. Initial ApproachThe first step in the scheme process will typically involve the bidder approaching the target with an indicative offer to propose a scheme under which bidder would acquire 100% of target.Due DiligenceIf the target is amendable to the bidder's offer, the target will typically grant the bidder a period of due diligence (either on an exclusive or non-exclusive basis) so that the bidder can confirm its interest in the target and the amount of consideration to be offered by the bidder.Scheme implementation agreementBEFORE the scheme proposal is PUBLICLY ANNOUNCED , the bidder and the target will typically enter into a 'scheme implementation agreement' which: sets out the terms of the scheme and commits the bidder and the target to the scheme transaction;obliges the target to propose the scheme to target shareholders, and to ensure that the target directors recommend that target shareholders vote in favour of the scheme in the absence of a superior proposal; andsets out how the bidder and target will work together throughout the approval process.( New buyers CFO) The scheme implementation agreement will typically contain 'deal protection mechanisms' such as:'no shop', 'no talk' and 'no due diligence' obligations on the target to seek to prevent the target from proactively generating rival bidders;a notification and matching right for the bidder to be notified of and have the opportunity to match any third party offer for control of target before target directors may recommend that third party offer to target shareholders; anda break fee (generally not exceeding 1% of the equity value of the target) payable by target to bidder if a third party is successful in obtaining control of target or if the target directors change their recommendation to vote in favour of the scheme in certain circumstances.The scheme is typically publicly announced for the FIRST time when the scheme implementation agreement is EXECUTED . GKP AND BUYERS implementation agreement Jun 2019, hence buybacks, and CFO change, were conditions of the agreement, EXECUTION of the agreement announced shortly. Initial ApproachThe first step in the scheme process will typically involve the bidder approaching the target with an indicative offer to propose a scheme under which bidder would acquire 100% of target.Due DiligenceIf the target is amendable to the bidder's offer, the target will typically grant the bidder a period of due diligence (either on an exclusive or non-exclusive basis) so that the bidder can confirm its interest in the target and the amount of consideration to be offered by the bidder.Scheme implementation agreementBEFORE the scheme proposal is PUBLICLY ANNOUNCED , the bidder and the target will typically enter into a 'scheme implementation agreement' which: sets out the terms of the scheme and commits the bidder and the target to the scheme transaction;obliges the target to propose the scheme to target shareholders, and to ensure that the target directors recommend that target shareholders vote in favour of the scheme in the absence of a superior proposal; andsets out how the bidder and target will work together throughout the approval process.( New buyers CFO) The scheme implementation agreement will typically contain 'deal protection mechanisms' such as:'no shop', 'no talk' and 'no due diligence' obligations on the target to seek to prevent the target from proactively generating rival bidders;a notification and matching right for the bidder to be notified of and have the opportunity to match any third party offer for control of target before target directors may recommend that third party offer to target shareholders; anda break fee (generally not exceeding 1% of the equity value of the target) payable by target to bidder if a third party is successful in obtaining control of target or if the target directors change their recommendation to vote in favour of the scheme in certain circumstances.The scheme is typically publicly announced for the FIRST time when the scheme implementation agreement is EXECUTED . 

[chinese_takeaway] 22/4/2020 16:08

GKP AND BUYERS implementation agreement Jun 2019, hence buybacks, and CFO change, were conditions of the agreement, EXECUTION of the agreement announced shortly. Initial ApproachThe first step in the scheme process will typically involve the bidder approaching the target with an indicative offer to propose a scheme under which bidder would acquire 100% of target.Due DiligenceIf the target is amendable to the bidder's offer, the target will typically grant the bidder a period of due diligence (either on an exclusive or non-exclusive basis) so that the bidder can confirm its interest in the target and the amount of consideration to be offered by the bidder.Scheme implementation agreementBEFORE the scheme proposal is PUBLICLY ANNOUNCED , the bidder and the target will typically enter into a 'scheme implementation agreement' which: sets out the terms of the scheme and commits the bidder and the target to the scheme transaction;obliges the target to propose the scheme to target shareholders, and to ensure that the target directors recommend that target shareholders vote in favour of the scheme in the absence of a superior proposal; andsets out how the bidder and target will work together throughout the approval process.( New buyers CFO) The scheme implementation agreement will typically contain 'deal protection mechanisms' such as:'no shop', 'no talk' and 'no due diligence' obligations on the target to seek to prevent the target from proactively generating rival bidders;a notification and matching right for the bidder to be notified of and have the opportunity to match any third party offer for control of target before target directors may recommend that third party offer to target shareholders; anda break fee (generally not exceeding 1% of the equity value of the target) payable by target to bidder if a third party is successful in obtaining control of target or if the target directors change their recommendation to vote in favour of the scheme in certain circumstances.The scheme is typically publicly announced for the FIRST time when the scheme implementation agreement is EXECUTED . GKP AND BUYERS implementation agreement Jun 2019, hence buybacks, and CFO change, were conditions of the agreement, EXECUTION of the agreement announced shortly. Initial ApproachThe first step in the scheme process will typically involve the bidder approaching the target with an indicative offer to propose a scheme under which bidder would acquire 100% of target.Due DiligenceIf the target is amendable to the bidder's offer, the target will typically grant the bidder a period of due diligence (either on an exclusive or non-exclusive basis) so that the bidder can confirm its interest in the target and the amount of consideration to be offered by the bidder.Scheme implementation agreementBEFORE the scheme proposal is PUBLICLY ANNOUNCED , the bidder and the target will typically enter into a 'scheme implementation agreement' which: sets out the terms of the scheme and commits the bidder and the target to the scheme transaction;obliges the target to propose the scheme to target shareholders, and to ensure that the target directors recommend that target shareholders vote in favour of the scheme in the absence of a superior proposal; andsets out how the bidder and target will work together throughout the approval process.( New buyers CFO) The scheme implementation agreement will typically contain 'deal protection mechanisms' such as:'no shop', 'no talk' and 'no due diligence' obligations on the target to seek to prevent the target from proactively generating rival bidders;a notification and matching right for the bidder to be notified of and have the opportunity to match any third party offer for control of target before target directors may recommend that third party offer to target shareholders; anda break fee (generally not exceeding 1% of the equity value of the target) payable by target to bidder if a third party is successful in obtaining control of target or if the target directors change their recommendation to vote in favour of the scheme in certain circumstances.The scheme is typically publicly announced for the FIRST time when the scheme implementation agreement is EXECUTED . 

[bigdog5] 22/4/2020 16:07

Ex oil company leader states oil prices are here for a very long time.

Payments from the MNR to be extremely low if at all and when compared against the monthly "burn rate" and losing massively on every barrel produced the company are in a very dangerous position like back in 2016 imo.

[chinese_takeaway] 22/4/2020 16:04

Price paid? I'm counting 2c as 2p, given a signature on the BUYERS FDPMakes it around 650m 2p minimum.#$ per 2P? Worst case $3 best $18. $1.95bn - 11. 5bn (£7--£42/share)Let's be very prudent say $5/2p = £ 11.80 /share

[chinese_takeaway] 22/4/2020 16:04

#GKP Sale implementation agreement made June 2019.Buyers China =Beijing based new CFO.Buyback ended 3/13 with $50m buying 19.6m sh = 8.54% shares which took out major shareholder of 2016 Restructure Capital pre agreed terms Straight after 3/13 to 1/4 in just 2 weeks Lansdowne buy further 2.1m shares and JPMorgan +4.65 mDeal incoming#GKP Sale implementation agreement made June 2019.Buyers China =Beijing based new CFO.Buyback ended 3/13 with $50m buying 19.6m sh = 8.54% shares which took out major shareholder of 2016 Restructure Capital pre agreed terms Straight after 3/13 to 1/4 in just 2 weeks Lansdowne buy further 2.1m shares and JPMorgan +4.65 mDeal incoming

[chinese_takeaway] 22/4/2020 16:04

GKP AND BUYERS implementation agreement Jun 2019, hence buybacks, and CFO change, were conditions of the agreement, EXECUTION of the agreement announced shortly. Initial ApproachThe first step in the scheme process will typically involve the bidder approaching the target with an indicative offer to propose a scheme under which bidder would acquire 100% of target.Due DiligenceIf the target is amendable to the bidder's offer, the target will typically grant the bidder a period of due diligence (either on an exclusive or non-exclusive basis) so that the bidder can confirm its interest in the target and the amount of consideration to be offered by the bidder.Scheme implementation agreementBEFORE the scheme proposal is PUBLICLY ANNOUNCED , the bidder and the target will typically enter into a 'scheme implementation agreement' which: sets out the terms of the scheme and commits the bidder and the target to the scheme transaction;obliges the target to propose the scheme to target shareholders, and to ensure that the target directors recommend that target shareholders vote in favour of the scheme in the absence of a superior proposal; andsets out how the bidder and target will work together throughout the approval process.( New buyers CFO) The scheme implementation agreement will typically contain 'deal protection mechanisms' such as:'no shop', 'no talk' and 'no due diligence' obligations on the target to seek to prevent the target from proactively generating rival bidders;a notification and matching right for the bidder to be notified of and have the opportunity to match any third party offer for control of target before target directors may recommend that third party offer to target shareholders; anda break fee (generally not exceeding 1% of the equity value of the target) payable by target to bidder if a third party is successful in obtaining control of target or if the target directors change their recommendation to vote in favour of the scheme in certain circumstances.The scheme is typically publicly announced for the FIRST time when the scheme implementation agreement is EXECUTED . GKP AND BUYERS implementation agreement Jun 2019, hence buybacks, and CFO change, were conditions of the agreement, EXECUTION of the agreement announced shortly. Initial ApproachThe first step in the scheme process will typically involve the bidder approaching the target with an indicative offer to propose a scheme under which bidder would acquire 100% of target.Due DiligenceIf the target is amendable to the bidder's offer, the target will typically grant the bidder a period of due diligence (either on an exclusive or non-exclusive basis) so that the bidder can confirm its interest in the target and the amount of consideration to be offered by the bidder.Scheme implementation agreementBEFORE the scheme proposal is PUBLICLY ANNOUNCED , the bidder and the target will typically enter into a 'scheme implementation agreement' which: sets out the terms of the scheme and commits the bidder and the target to the scheme transaction;obliges the target to propose the scheme to target shareholders, and to ensure that the target directors recommend that target shareholders vote in favour of the scheme in the absence of a superior proposal; andsets out how the bidder and target will work together throughout the approval process.( New buyers CFO) The scheme implementation agreement will typically contain 'deal protection mechanisms' such as:'no shop', 'no talk' and 'no due diligence' obligations on the target to seek to prevent the target from proactively generating rival bidders;a notification and matching right for the bidder to be notified of and have the opportunity to match any third party offer for control of target before target directors may recommend that third party offer to target shareholders; anda break fee (generally not exceeding 1% of the equity value of the target) payable by target to bidder if a third party is successful in obtaining control of target or if the target directors change their recommendation to vote in favour of the scheme in certain circumstances.The scheme is typically publicly announced for the FIRST time when the scheme implementation agreement is EXECUTED . 

[bigdog5] 22/4/2020 16:03

Agree with a lot of that Antondec apart from the 10% reduction in salaries, the frozen payments could be $70m+ which of course will get "lost" somehow. I also expect there to be a lot of hype on the new gas project which could push up the share price temporarily until its recognized that its just more desperate spin, will take an age, be extremely costly and a risky endeavour.

There will have to be mentions of the financial position which of course will be "played down" but the seriousness will be obvious to those that can see the parallels with what was being said back in 2016.

[chinese_takeaway] 22/4/2020 15:35

Price paid? I'm counting 2c as 2p, given a signature on the BUYERS FDPMakes it around 650m 2p minimum.#$ per 2P? Worst case $3 best $18. $1.95bn - 11. 5bn (£7--£42/share)Let's be very prudent say $5/2p = £ 11.80 /share

[chinese_takeaway] 22/4/2020 15:35

#GKP Sale implementation agreement made June 2019.Buyers China =Beijing based new CFO.Buyback ended 3/13 with $50m buying 19.6m sh = 8.54% shares which took out major shareholder of 2016 Restructure Capital pre agreed terms Straight after 3/13 to 1/4 in just 2 weeks Lansdowne buy further 2.1m shares and JPMorgan +4.65 mDeal incoming#GKP Sale implementation agreement made June 2019.Buyers China =Beijing based new CFO.Buyback ended 3/13 with $50m buying 19.6m sh = 8.54% shares which took out major shareholder of 2016 Restructure Capital pre agreed terms Straight after 3/13 to 1/4 in just 2 weeks Lansdowne buy further 2.1m shares and JPMorgan +4.65 mDeal incoming

[chinese_takeaway] 22/4/2020 15:35

GKP AND BUYERS implementation agreement Jun 2019, hence buybacks, and CFO change, were conditions of the agreement, EXECUTION of the agreement announced shortly. Initial ApproachThe first step in the scheme process will typically involve the bidder approaching the target with an indicative offer to propose a scheme under which bidder would acquire 100% of target.Due DiligenceIf the target is amendable to the bidder's offer, the target will typically grant the bidder a period of due diligence (either on an exclusive or non-exclusive basis) so that the bidder can confirm its interest in the target and the amount of consideration to be offered by the bidder.Scheme implementation agreementBEFORE the scheme proposal is PUBLICLY ANNOUNCED , the bidder and the target will typically enter into a 'scheme implementation agreement' which: sets out the terms of the scheme and commits the bidder and the target to the scheme transaction;obliges the target to propose the scheme to target shareholders, and to ensure that the target directors recommend that target shareholders vote in favour of the scheme in the absence of a superior proposal; andsets out how the bidder and target will work together throughout the approval process.( New buyers CFO) The scheme implementation agreement will typically contain 'deal protection mechanisms' such as:'no shop', 'no talk' and 'no due diligence' obligations on the target to seek to prevent the target from proactively generating rival bidders;a notification and matching right for the bidder to be notified of and have the opportunity to match any third party offer for control of target before target directors may recommend that third party offer to target shareholders; anda break fee (generally not exceeding 1% of the equity value of the target) payable by target to bidder if a third party is successful in obtaining control of target or if the target directors change their recommendation to vote in favour of the scheme in certain circumstances.The scheme is typically publicly announced for the FIRST time when the scheme implementation agreement is EXECUTED . GKP AND BUYERS implementation agreement Jun 2019, hence buybacks, and CFO change, were conditions of the agreement, EXECUTION of the agreement announced shortly. Initial ApproachThe first step in the scheme process will typically involve the bidder approaching the target with an indicative offer to propose a scheme under which bidder would acquire 100% of target.Due DiligenceIf the target is amendable to the bidder's offer, the target will typically grant the bidder a period of due diligence (either on an exclusive or non-exclusive basis) so that the bidder can confirm its interest in the target and the amount of consideration to be offered by the bidder.Scheme implementation agreementBEFORE the scheme proposal is PUBLICLY ANNOUNCED , the bidder and the target will typically enter into a 'scheme implementation agreement' which: sets out the terms of the scheme and commits the bidder and the target to the scheme transaction;obliges the target to propose the scheme to target shareholders, and to ensure that the target directors recommend that target shareholders vote in favour of the scheme in the absence of a superior proposal; andsets out how the bidder and target will work together throughout the approval process.( New buyers CFO) The scheme implementation agreement will typically contain 'deal protection mechanisms' such as:'no shop', 'no talk' and 'no due diligence' obligations on the target to seek to prevent the target from proactively generating rival bidders;a notification and matching right for the bidder to be notified of and have the opportunity to match any third party offer for control of target before target directors may recommend that third party offer to target shareholders; anda break fee (generally not exceeding 1% of the equity value of the target) payable by target to bidder if a third party is successful in obtaining control of target or if the target directors change their recommendation to vote in favour of the scheme in certain circumstances.The scheme is typically publicly announced for the FIRST time when the scheme implementation agreement is EXECUTED . 

[chinese_takeaway] 22/4/2020 14:59

Price paid? I'm counting 2c as 2p, given a signature on the BUYERS FDPMakes it around 650m 2p minimum.#$ per 2P? Worst case $3 best $18. $1.95bn - 11. 5bn (£7--£42/share)Let's be very prudent say $5/2p = £ 11.80 /share

[chinese_takeaway] 22/4/2020 14:58

#GKP Sale implementation agreement made June 2019.Buyers China =Beijing based new CFO.Buyback ended 3/13 with $50m buying 19.6m sh = 8.54% shares which took out major shareholder of 2016 Restructure Capital pre agreed terms Straight after 3/13 to 1/4 in just 2 weeks Lansdowne buy further 2.1m shares and JPMorgan +4.65 mDeal incoming#GKP Sale implementation agreement made June 2019.Buyers China =Beijing based new CFO.Buyback ended 3/13 with $50m buying 19.6m sh = 8.54% shares which took out major shareholder of 2016 Restructure Capital pre agreed terms Straight after 3/13 to 1/4 in just 2 weeks Lansdowne buy further 2.1m shares and JPMorgan +4.65 mDeal incoming

[chinese_takeaway] 22/4/2020 14:58

GKP AND BUYERS implementation agreement Jun 2019, hence buybacks, and CFO change, were conditions of the agreement, EXECUTION of the agreement announced shortly. Initial ApproachThe first step in the scheme process will typically involve the bidder approaching the target with an indicative offer to propose a scheme under which bidder would acquire 100% of target.Due DiligenceIf the target is amendable to the bidder's offer, the target will typically grant the bidder a period of due diligence (either on an exclusive or non-exclusive basis) so that the bidder can confirm its interest in the target and the amount of consideration to be offered by the bidder.Scheme implementation agreementBEFORE the scheme proposal is PUBLICLY ANNOUNCED , the bidder and the target will typically enter into a 'scheme implementation agreement' which: sets out the terms of the scheme and commits the bidder and the target to the scheme transaction;obliges the target to propose the scheme to target shareholders, and to ensure that the target directors recommend that target shareholders vote in favour of the scheme in the absence of a superior proposal; andsets out how the bidder and target will work together throughout the approval process.( New buyers CFO) The scheme implementation agreement will typically contain 'deal protection mechanisms' such as:'no shop', 'no talk' and 'no due diligence' obligations on the target to seek to prevent the target from proactively generating rival bidders;a notification and matching right for the bidder to be notified of and have the opportunity to match any third party offer for control of target before target directors may recommend that third party offer to target shareholders; anda break fee (generally not exceeding 1% of the equity value of the target) payable by target to bidder if a third party is successful in obtaining control of target or if the target directors change their recommendation to vote in favour of the scheme in certain circumstances.The scheme is typically publicly announced for the FIRST time when the scheme implementation agreement is EXECUTED . GKP AND BUYERS implementation agreement Jun 2019, hence buybacks, and CFO change, were conditions of the agreement, EXECUTION of the agreement announced shortly. Initial ApproachThe first step in the scheme process will typically involve the bidder approaching the target with an indicative offer to propose a scheme under which bidder would acquire 100% of target.Due DiligenceIf the target is amendable to the bidder's offer, the target will typically grant the bidder a period of due diligence (either on an exclusive or non-exclusive basis) so that the bidder can confirm its interest in the target and the amount of consideration to be offered by the bidder.Scheme implementation agreementBEFORE the scheme proposal is PUBLICLY ANNOUNCED , the bidder and the target will typically enter into a 'scheme implementation agreement' which: sets out the terms of the scheme and commits the bidder and the target to the scheme transaction;obliges the target to propose the scheme to target shareholders, and to ensure that the target directors recommend that target shareholders vote in favour of the scheme in the absence of a superior proposal; andsets out how the bidder and target will work together throughout the approval process.( New buyers CFO) The scheme implementation agreement will typically contain 'deal protection mechanisms' such as:'no shop', 'no talk' and 'no due diligence' obligations on the target to seek to prevent the target from proactively generating rival bidders;a notification and matching right for the bidder to be notified of and have the opportunity to match any third party offer for control of target before target directors may recommend that third party offer to target shareholders; anda break fee (generally not exceeding 1% of the equity value of the target) payable by target to bidder if a third party is successful in obtaining control of target or if the target directors change their recommendation to vote in favour of the scheme in certain circumstances.The scheme is typically publicly announced for the FIRST time when the scheme implementation agreement is EXECUTED . 

[pensioner2] 22/4/2020 14:56

It looks as though Trump's plan is to restore the oil price a different way?