Gulf Keystone Petroleum Share Discussion Threads

[highlander7] 23/12/2020 12:08

Need an IOC to take us out and get production up


Of course we do. GKP doesnt have either the resources or expertise to manage a Project of the size required. The USA have plenty of INOCs and Project Management Companies who are more than capable. My old employer BECHTEL being one of them.

We must be close to a project "gate" by now. Finances in good shape: Production stable and will be rising: Payments fairly regular the political situation seemingly improving. Then a recognition by both KRG and ICG that they cant do this themselves and the OP outlook positive.

Looking more promising than any time in the past 10 years.

IMO

[beernut] 23/12/2020 11:54

Need an IOC to take us out and get production up

Iraq in ‘existential’ economic situation, finances worse than 2005: Finance Minister
Iraq’s newly appointed Finance Minister Ali Allawi, in an exclusive interview with AFP, announced that Iraq, economically, is in an existential condition that its financial situation is worse than the post-2003 liberation. author_image Halgurd Sherwani June 23rd 2020 08:06

COVID-19 Iraq
ERBIL (Kurdistan 24) – Iraq’s newly appointed Finance Minister Ali Allawi, in an exclusive interview with AFP, announced that Iraq, economically, is in an existential condition that its financial situation is worse than the post-2003 liberation.

Iraq’s vulnerable economy, whose source of revenue is heavily oil-dependent, has been experiencing a huge blow in the face of the COVID-19 pandemic outbreak in the country. Iraq is currently struggling to manage its bloated public pays with slashed oil prices that significantly dried state’s coffers.

Finance Minister Ali Allawi, who’s also Iraq’s finance minister in post-invasion period, recently reassumed the office to manage the country’s economic dire situation.

“The finances are worse than it was in 2005 or 2006,” Allawi told AFP, as he explained the current economic situation as “existential” for Iraq.

Iraq’s public payroll in the post-invasion was only a million employees while its public servants increased to 4.5 million with 2.5 retirees at an oil price around $35, AFP analyzed.

Allawi’s warning

The finance minister warned, during his interview with AFP, that Iraq could not be managed, economically, by hoping that oil prices would increase so it can cover the state expenses.

“If oil prices stay at this level for a year, and our expenses stay the same, without a doubt we’re going to hit a wall,” Allawi told AFP.

In order to save the economy from sinking, the finance minister said that he would propose an economic reform plan to Iraq’s Council of Representatives in three months, including austerity measures that last for two years, he added to AFP.

Besides the reform plan, he hopes to cut the high-paid bureaucrats stipend, access fund from the International Monetary Fund (IMF) and World Bank as well as to prevent “double-dripping” those who have more than a salary in the government, Allawi explained his intentions. He added that he would also work to boost Iraq’s non-oil revenues to thwart the potential shocks caused by oil’s price volatility.

Iraq’s post-US-led liberation economy was in a bitter shape as it had suffered more than a decade-long UN imposed sanctions due to the former Ba’athist regime’s notorious acts.

Iraq, according to International Transparency Index, is the 16th corrupt country in the world that more than $400 billion disappeared from public treasury following the 2003 invasion.

Editing by Karzan Sulaivany

[beernut] 23/12/2020 11:42

Details to be published later today.

PM Barzani Chairs Cabinet Meeting on Baghdad Negotiations
Basnews English 2020/12/23 - 13:34 Kurdistan


ERBIL — Chaired by Prime Minister Masrour Barzani, Kurdistan Region’s Council of Ministers on Wednesday convened to discuss the ongoing negotiations with Baghdad to resolve budgetary and oil disputes.

A day earlier, Deputy Prime Minister Qubad Talabani, who is leading the KRG negotiating team, said Erbil and Baghdad had reached an agreement on the 2021 budget draft that is sent to Parliament for approval.

Apparently Talabani has returned to Erbil to brief the council on the progress they have made in the negotiations.

Details about the discussions at the council are expected to be published later today.

[simonmurraycnpc] 23/12/2020 11:14

Takeover BEFORE 2021 :) Here's a prudent valuation range: https://t.co/oPYCs2A83u

[simonmurraycnpc] 23/12/2020 11:14

#GKPWhen @Gulf_Keystone announce sale their will be uproar , because overnight shareprice will increase by minimum 2,000%, perhaps >5,000%They have been bound by an implementation agreement.But their have been clues to what's coming.And here's one https://t.co/AJ5J5q2f8H

[steephill cove] 23/12/2020 11:04

HenryGondorff yet another ADFVN paid subscription deramper into the skip & still they keep coming :-)

[henrygondorff] 23/12/2020 11:01

Total con and I should know.

[simonmurraycnpc] 23/12/2020 09:57

Takeover BEFORE 2021 :) Here's a prudent valuation range: https://t.co/oPYCs2A83u

[simonmurraycnpc] 23/12/2020 09:57

#GKPWhen @Gulf_Keystone announce sale their will be uproar , because overnight shareprice will increase by minimum 2,000%, perhaps >5,000%They have been bound by an implementation agreement.But their have been clues to what's coming.And here's one https://t.co/AJ5J5q2f8H

[sbb1x] 23/12/2020 08:50

Brent back above 50$. Only goes higher because of the weaker dollar.

[k4n4k] 23/12/2020 08:04

Looking like progress is being made quickly now.

Al-Asadi discusses with the Prime Minister of the region the implementation of the Sinjar agreement
Editing date: 12/22/2020 19:16 • 104 times read
hxxp://www.alliraqnews.com/uploads/news/image/medium/story_img_5fe21bc64469c.jpg
[Baghdad-Where] The
head of the National Security Agency, Abdul Ghani Al-Asadi, discussed with the President of the Kurdistan Regional Government, Masrour Barzani, the implementation of the Sinjar agreement.
According to a statement by the regional government, "the meeting discussed the latest developments in the situation in Iraq, in addition to discussing relations between the Kurdistan region and the federal government, and strengthening security coordination between the two sides."
He pointed out that "during the meeting, emphasis was placed on the importance of implementing the Sinjar Agreement, including the exit of militias and illegal armed forces from Iraq."

[steephill cove] 23/12/2020 07:59

Really positive newsfeeds coming through. It finally looks like Baghdad & Erbil are onside. Disputed territories & HCL next please...

[highlander7] 23/12/2020 06:34

It will happen this time , with the USA banging heads together. Pompeo is no fool or wimp.

This sounds good....

" especially in the field of energy "

[beernut] 23/12/2020 06:28

PM Barzani, Pompeo Discuss Erbil-Washington
BasNews 2020/12/22 - 22:21 Kurdistan


ERBIL - Kurdistan Region Prime Minister Masrour Barzani on Tuesday received a phone call from US Secretary of State Mike Pompeo, discussing the relations between Erbil and Washington.

PM Barzani explained in a Twitter statement that the pair shed light on "continuous" strengthening of the relations between the Kurdistan Region and the United States, while discussing the remaining disputes between Erbil and Baghdad, with the premier suggesting that Washington plays a role in the negotiations between the regional and federal governments.

"A pleasure to talk to @SecPompeo today. We focused on continuous strengthening of KRG-US relations, the role the US can play in KRG-Baghdad talks, and regional issues," he wrote on Twitter.

"I took the opportunity to thank Secretary Pompeo for his personal support for the people of Kurdistan"

Barzani's office said in a statement that the two leaders also exchanged views on strengthening the ties between Erbil and Washington, especially in the field of energy, while highlighting the importance of US's continued assistance to the Peshmerga forces.

The security situation in the areas between the Kurdistan and Syria and the importance of implementing the Sinjar agreement between Erbil and Baghdad to help the displaced people return to their places of origin, were also discussed during the phone call, according to the statement.

[beernut] 23/12/2020 06:22

Kurdistan reaches a deal with Baghdad regarding financial dues
Kurdistan
iraq
breaking
2020-12-22 20:45
A- A A+
Shafaq News / The Kurdistan Regional Government's delegation to Baghdad announced on Tuesday that it had reached an agreement with the federal government regarding the financial dues.

After nearly 15 days of negotiations with senior officials in the federal government and Iraqi political parties, Qubad Talabani, deputy prime minister of the region said in in a press conference that Baghdad approved to refinance the salaries of employees of the public sector in the region, in addition to determine Kurdistan’s share in the 2021 federal budget.

Under the constitution, the Kurdish region is entitled to a share of the Iraqi national budget. But that arrangement collapsed in 2014, when Iraq’s army fled the north in the face of an advance by ISIS.

The Kurds seized control of Iraq’s main northern oil fields at Kirkuk from ISIS and began selling Kirkuk’s oil independently; Baghdad stopped sending money to the Kurds.

In 2017, after ISIS was driven out of the north, the Kurds held an independence referendum, voting overwhelmingly to secede. But the central government responded by swiftly launching a military offensive and recapturing control of Kirkuk, which quashed the Kurdish independence bid.

The central government and the Kurds have yet to agree on a full plan to resume payments from Baghdad to the Kurdish region.

The 2018 budget, passed in parliament despite a boycott by Kurdish lawmakers, calls for the 17 percent of total revenue allocated to the Kurds to be cut in line with the region’s share of Iraq’s population, which is disputed.

In 2020, The governments of Iraq and Kurdistan have reached an agreement on Erbil’s contribution to the federal budget.

The deal includes a transfer of 250,000 barrels per day (bpd) from the oil-producing region to Iraq’s national budget in exchange of securing the financial dues of the region.

However, Kurdistan said that the federal government did not keep their promise of sending the all financial duties to the region.

[chicagojack] 23/12/2020 04:33

#GKPWhen @Gulf_Keystone announce sale their will be uproar , because overnight shareprice will increase by minimum 2,000%, perhaps >5,000%They have been bound by an implementation agreement.But their have been clues to what's coming.And here's one https://t.co/AJ5J5q2f8H

[chicagojack] 23/12/2020 04:33

Takeover BEFORE 2021 :) Here's a prudent valuation range: https://t.co/oPYCs2A83u

[steephill cove] 23/12/2020 01:31

McFly02:- Sarah, what drivel you talk as a tin pot day trader trying to squeeze a penny here & there...

[bigdog5] 22/12/2020 23:06

hab SHAM you didn't reply to Mac's post of:-

"SH12 was drilled with OIL BASED drilling fluid along with SH9. What they found ABOVE the known OWC obviously isn't water based drilling fluid."

I seem to recall that "drilling fluid" has been used as an explanation on previous wells over the years.

[bigdog5] 22/12/2020 22:59

Now why is hab SHAM ducking a reasonable question? I'll repeat it.

So hab SCAM you and h7 are categorically stating that what they've discovered at the latest wells is drilling fluid? That there is no water whatsoever? That none of the kit that you've been mentioning in your rants against BB has anything to do with handling any water at the PF's or anywhere?

So you're saying its all "dry oil" are you?

Well are you hab SHAM?

[mcfly02] 22/12/2020 22:19

Habscam 🤡

How long is it taking to do simple workovers ???

How long to fit these off the shelf pumps ???

Leave it to the experts 😂😂😂

People have died waiting for the experts to get their act together.

It's funny how so many avatars all disappear around 9pm.

Anyone would think it's the same person 😂🤡

PAUL CARROLL 🤡

[sbb1x] 22/12/2020 22:12

I've chosen my top 5 stocks for 2021 at the @Stockopedia stock picking challenge including #PFC #RKH #MCL #UAI #GKP . Add yours here for a chance to win some great prizes - https://t.co/6naPSIqimy #stockpicks2021

[habshan] 22/12/2020 21:12

"Take away SH 9,11,12 because they came after the 45k number.
So tell us again how stable things are"

Jeez it's like trying to educate a 5 year old.

The field output fell because the wells that hadn't been maintained and cleaned up in ten years did what all wells do and went into decline because they were full of crud. All in line with expectations.

Wells 1&3 were then worked over and their output doubled, again all in line with expectations.

New wells were drilled and once the debottlenecking of PF-1 is finished output will be restored to the 45kbpd that you mention, once again all in line with expectations.

When the lockdown is lifted the workovers of the original PF-2 wells will be done and the 2 new wells will be completed and brought on stream which will take production to 55kbpd or more.

And during all of that the reservoir has behaved in a stable manner, has performed as predicted and steady reliable production has been maintained.

So there you are Sarah, I hope that's clear.

If it isn't, ask somebody else, I'm off to bed.