Gulf Keystone Petroleum Share Discussion Threads

[broadford bay] 16/4/2021 11:36

Heh mock highlander,
the answer to your question is NO, it is not true that Shamaran paid $30/bbl for Marathons barrels.

In their 2020 FYR, Shamaran reported:
"On May 30, 2019 ShaMaran completed its acquisition of an additional 7.5% participating interest in the Atrush block. Under two separate sale and purchase agreements, done in contemplation of one another, (“SPA”s) ShaMaran’s wholly owned
subsidiary, General Exploration Partners, Inc. (“GEP”), acquired directly Marathon Oil KDV B.V.’s (“MOKDV”) full 15% participating interest in the Atrush Block and immediately thereafter sold a 7.5% Atrush participating interest to TAQA Atrush B.V. (“TAQA” and Operator of the Atrush Block), bringing the Company’s total interest in Atrush up to 27.6%. The total consideration paid to complete the acquisition was $27.2 million, comprised of $17.4 million paid to Marathon, $1
million of PSC capacity building bonuses accounts payable paid to the KRG on direct behalf of MOKDV and in conjunction with the payment to MODKV, and $8.8 million of net acquisition related costs. The $8.8 million of net acquisition related costs were comprised of $9.5 million of PSC capacity building bonuses paid to the KRG and $750 thousand of payments received from TAQA and were not considered part of the purchase price of the acquisition in line with IFRS 3 and have been expensed as incurred within the Statement of Comprehensive Income in 2019. The fair value of the net identifiable assets and liabilities acquired exceeded the $18.4 million purchase price paid resulting in a bargain purchase gain of $9.5 million in the year 2019."

Shamran have reported 2P/C of 109.9MMstb
plus
3P/C of 158MMstb

So whichever way you cut it, the $/bbl paid was nowhere even close to double digit.

Go on, work it out - or does that exceed your capabilities?

Double-tongued, stranger to the truth, or just a fool ?

[mcfly02] 16/4/2021 09:35

What 😱 More missile attacks in Erbil.

IOC roll up roll up and invest your money here 😂

Ignore the fact that the old oil minister is currently going through the courts for corruption within the contracts.

Ignore the rocket attacks in Erbil.

Ignore how unstable the region has been for the last ten years.

Ignore the fact that Baghdad says all the oil contracts are illegal.

Ignore the irregular payments for oil sales.

Ignore the problems with the field (nobody's made an offer)

Ignore all the missed promises.

The list is endless 😂

[nestoframpers] 16/4/2021 09:19

Baghdad / NINA / The US State Department expressed its anger in response to the missile strikes that targeted an international coalition center at Erbil airport.

"The Iraqi people have suffered for a very long time from this kind of violence and the violation of their sovereignty," State Department spokesman Ned Price said in a tweet on Twitter.

Erbil airport was attacked by missiles last night, Wednesday, targeting an international coalition center at the airport, but the interior of the Kurdistan region stated that the attack was carried out by a drone carrying TNT high explosive.

And Erbil International Airport was targeted by several missiles in mid-February, killing a civilian contractor and wounding 5 others and an American soldier. / End 7

hxxps://ninanews.com/Website/News/Details?key=899178

[pensioner2] 16/4/2021 09:09

Still good. Uptrend intact. Looks like they're fishing for stops to fill orders around 180.

[shortsqueezer] 16/4/2021 09:03

How's that chart looking now?

[pensioner2] 16/4/2021 08:58

That's the gap closed.

[highlander7] 16/4/2021 08:48

"For his part, Iraqi Foreign Minister Fuad Hussein affirmed that the strategic dialogue with the United States is of interest to the Iraqi government."


Of course it is , thats where the cash for rebuilding Iraq is coming from. But what will the Yanks want in return ? Bearing in mind all these Kurdish Military bases they have. It wont be a bankrupt KRG thats for sure.

IMO

[pensioner2] 16/4/2021 08:26

With China expanding at 18.3%, Brent is going to go bananas.

[pensioner2] 16/4/2021 08:14

The 258k trade went through before today's trades. A lot of manipulation going on.

[shortsqueezer] 16/4/2021 08:03

That was a biggie !

[k4n4k] 16/4/2021 07:44

25 quid would be a bargain.🤠

[shortsqueezer] 16/4/2021 07:22

Brent 67.31 :-)

[highlander7] 16/4/2021 06:42

Is it true Shamaran paid $30 a bbl for this ?

"June, 2018 Shamaran Petroleum announced that it intends to purchase Marathon Petroleum's 15% share of the Atrush Block. With effect from Jan 1, 2018. The sale is expected to close in the first quarter of 2019."

If so how does this affect the Shaikan valuation ?