Gulf Keystone Petroleum Share Discussion Threads

[mmt1] 21/3/2024 07:16

JackPotJack: Agreed, nothing negative and continued inc in production... Also states they expect to recieve backpayments and apikur negotiations in regard to ITP ongoing..

[jackpotjack] 21/3/2024 07:13

Nothing bad in there... good update.Pretty sure they also say production back into the 50k bpd ?

[furenstaurus] 21/3/2024 07:11

#gkp #gkptakeover43k average sales March to date.$11.6 m net revenue on this basis Cash up to $86m Trade balances now current FCF on local sales currently $5.6m per month Considering resuming shareholder distributions as liquidity improves.

[mmt1] 21/3/2024 07:05

21 March 2024

Gulf Keystone Petroleum Ltd. (LSE: GKP)

("Gulf Keystone", "GKP", "the Group" or "the Company")

2023 Full Year Results announcement


Gross average sales in 2024 year to 19 March of c.33,300 bopd; March 2024 to date sales of c.43,000 bopd

Cash balance as at 20 March of $86 million, accounts payable current

Cash generative in current environment with upside potential from exports restart and payments normalisation

Gulf Keystone, a leading independent operator and producer in the Kurdistan Region of Iraq ("Kurdistan"), today announces its results for the full year ended 31 December 2023.

[beernut1] 21/3/2024 06:48

Talks of salaries and other issues solution in coming days

We are negotiating with Iraqi Premier to tackle salary issues, says PM Barzani
“I congratulate all the Kurdish people, both inside and outside Kurdistan, as well as all the peoples and nations who celebrate Newroz,” he said. author_image Kurdistan 24
1 Hour

Kurdistan Region Prime Minister Masrour Barzani delivering a speech at the Newroz carnival in Akre district, March 21, 2024. (Photo: KRG)
Kurdistan Region Prime Minister Masrour Barzani delivering a speech at the Newroz carnival in Akre district, March 21, 2024. (Photo: KRG)
Kurdistan Masrour Barzani Newroz Akre Salary issues
ERBIL (Kurdistan24) – Kurdistan Region Prime Minister Masrour Barzani hosted a Newroz carnival in Akre district, with the attendance of numerous ambassadors, consuls general, envoys, and diplomats representing countries in Iraq and the Kurdistan Region.

During the carnival the Prime Minister delivered a speech, touching upon many issues in the region.

In his speech, the Prime Minister congratulated everyone on the occasion of Newroz. He expressed his pleasure in being here this year and his hope that Akre would become the center for celebrating Newroz in Kurdistan and the world in the years to come.

“I congratulate all the Kurdish people, both inside and outside Kurdistan, as well as all the peoples and nations who celebrate Newroz,” he said.

He also extended his condolences to the families of those who lost their lives due to the flash floods in Duhok and Zakho on Tuesday.

“I would like to express my gratitude to the Kurdish people for their resilience in the face of various challenges, including the lack of salaries, budgets, and other difficulties. While our concerns extend beyond just salaries, it is crucial to address this issue as it directly affects people's lives. We have been working tirelessly to find a resolution, despite deliberate attempts by certain individuals to hinder the distribution of salaries to the Kurdish people. I would like to extend my thanks to those involved and reassure them that we are currently in negotiations with the Prime Minister of the Iraqi Government to tackle this matter. He has assured us that a solution will be reached in the coming days,” the premier added.

Moreover, he stated that they would defend the rights of the Kurdish people.

“Newroz is a day of new beginnings and new opportunities. For us, it symbolizes a fresh start and a chance at a new life. I hope that today marks the beginning of a year filled with happiness and success for our people,” the Prime Minister concluded.

[highlander7] 21/3/2024 05:01

john @john78846295:20h


By banning the PKK, #Iraq is in a better position to make progress on other issues with Turkey incuding #oil exports, trade, and water.

"A decision that will be a turning point!" (chief advisor, #Turkish foreign ministry)

[pittcock] 20/3/2024 22:43

Lol. Making hay while the sun shines. No wonder so many spanners in the works getting the ITP open. Erdogan wants it open though and he is calling the shots. Tick Tock...

[justiceforthemany] 20/3/2024 21:20

Hopefully the CEO and board can come up with something different than the usual guff
'We continue to believe the cessation of exports is temporary'...

[furenstaurus] 20/3/2024 20:22

206,995 worked buy after hrs lololol

[kenjen1] 20/3/2024 20:01

KDP denying they are boycotting the elections now. Wonder what they got for reversing the decision.

[beernut1] 20/3/2024 19:54

Thanks Habshan
As per previous posts it ( maybe ) was all about who pays owed dues back payments.
Ie
Krg paying us all that time ( often late )
on very little budget share ( and sometimes managing to pay back owed payments )
and now getting 50/60 % ( for now ) of budget share.
Bet Icg are saying you managed before we’ve only just agreed to pay ongoing payments ( you the Krg pay all the payments up to date of agreement and owed money.

[ptmorris1] 20/3/2024 19:32

Oof, let's hope that the owner of the after hours reported "sell" of 206K shares doesn't rue their luck with tomorrow's news.

[habshan] 20/3/2024 17:54

It's hard to know what to make of this as it's a translation and difficult to follow.

But the point is that the Federal Government are going to address the KRG's debts by paying them off and then deducting the money from the KRG's monthly budget share over a period of several years.

It mentions debts to the Commercial Bank of Iraq, companies and contractors.

Whether it includes monies owed by the KRG to IOCs but not yet paid out it doesn't say.

Anyway here it is:-

20/03/24 Draw Media - Baghdad will repay the KRG's debt to TBI.

The Iraqi Council of Ministers has decided to repay the loans received by the Kurdistan Regional Government (KRG) from the Commercial Bank of Iraq (TBI), but then the money will be deducted from the KRG's share of the budget.
The amount of this debt is 53 billion dinars monthly, which is 636 billion dinars per year.

The Iraqi General Budget Law, which came into force at the end of June 2023, in Article (12/f), determines how to clear this debt on the Kurdistan Regional Government, saying: "The money of the Commercial Bank of Iraq TBI that falls on the government." Kurdistan Region to be cleaned of public and private banks The Federal Ministry of Finance will schedule the installments on a monthly basis and deducted from the share of the region, starting in fiscal year 2023 and for seven years).

The Kurdistan Regional Government (KRG) and the federal government have not yet implemented the budget laws, which have not yet been implemented. Therefore, the Kurdistan Region's share in the Iraqi budget has not been determined They have not been paid back to the KRG, which is why yesterday The Iraqi Council of Ministers has obliged the Federal Ministry of Finance to repay the bank's loans and then deduct them from the Kurdistan Region's share.

What is this debt

This debt, like most of the other accumulated debts, dates back to the previous cabinet (the eighth cabinet headed by Nechirvan Barzani), which totals (27 billion) dollars and left to the ninth cabinet (Masrour Barzani's cabinet).
According to the information (Draw), the loan of TBI Bank is a large number of bank checks without receipts of the Kurdistan Regional Government, which the previous cabinet gave to contractors and contractors have sold the checks in the market.

TBI Bank then received the checks without receipts and paid the money to the contractors. The total amount of the checks without receipts that the Iraqi bank paid to the contractors on loan from the Kurdistan Regional Government with the loan of Kurdistan Bank, is more than (3 billion 914 million) dollars (5 trillion) dinars.
After taking office as prime minister, Masrour Barzani asked the Financial Supervision Bureau in June 2020 to present its views on the government's debts. The Financial Supervision Bureau formed a committee to investigate and submitted its report in July of the Council of Ministers.

Regarding the loans of Commercial Bank of Iraq (TBI) and Kurdistan Bank (KI B), the Supervisory Bureau said: "The reason for this is due to the purchase and transaction of both Commercial Bank of Iraq and Kurdistan Bank with companies and contractors , The owner of the weapon has promised not to ask for the price of the weapon until the financial situation improves.

The agreement between the Kurdistan Regional Government and TBI Bank in the 2021 budget law is that from 2021, the debts of TBI Bank will be cut from the share of the region and the total debt will be cleared within seven years.
This is another condition that the Iraqi budget has fallen on the shoulders of the Kurdistan Regional Government and Baghdad in the form of "comparison" that is, deductions from the monthly budget of the region.

In the 2019 budget, the Iraqi government cut about 12 billion dinars from the Kurdistan Region's share to repay these loans. After the resignation of Prime Minister Adel Abdul Mahdi and Mustafa Kazemi became prime minister, Kazemi within the framework In an agreement to send the salaries of employees to the Kurdistan Region for three months, during this period, the amount of (12 billion) dinars monthly deducted from the salaries of employees to repay TBI debts.

According to a report by Amanj Rahim, Secretary of the Council of Ministers, TBI Bank in a letter dated February 8, 2021, determined its debts to the Kurdistan Regional Government as follows:
• Basic entitlement: 4 trillion 512 billion dinars ÷ 7 years = 645 billion dinars annually ÷ 12 = 7 billion 53 million dinars monthly.
• Interest: 1 trillion 231 billion dinars.
• Total basic entitlements and interest: 5 trillion 744 billion dinars / 7 years = 820 billion dinars annually / 12 = 68 billion dinars monthly.

KRG debts.

It is not only the money of the Commercial Bank of Iraq that has accumulated as a debt on the Kurdistan Regional Government These debts date back to the rule of Nechirvan Barzani and the process of "independent economy" and finds itself in debt (Salary salaries, financial obligations, foreign debt, TBI Bank loan and domestic debt), what remains accumulated during Masrour Barzani's tenure, which includes part of the money that the central government in 2023 as a loan to the government Remi gave and the amount (3 trillion and 700 billion dinars and will be cut from the share of the region in the 2024 budget.

[r9505571] 20/3/2024 17:46

Results in the morning! So exciting!

[sniff_the_tip] 20/3/2024 16:57

I miss chinese Steven

[0ili0] 20/3/2024 16:39

BigdogSarah5IQ even went broke on only fans when kilt stopped paying 🐕🍆

[sbb1x] 20/3/2024 16:19

Update tomorrow, ready to see a pound again...

[bobaxe1] 20/3/2024 16:10

https://x.com/investormeetco/status/1770374809056051315?s=46&t=KHNNXk1Nw1j5lyzHBSnKag

[johnbuysghost] 20/3/2024 15:07

BigdogSarah5IQ, you lost your shirt during February/March 2012, when you blew your pot at 465p. Tony done his pot too.

I remember.