Gulf Keystone Petroleum Share Discussion Threads

[punter26] 22/3/2024 20:13

Michael Knights reposted Mohammed A. Salih @MohammedASalih (22 Mar 2024)

"Good opportunity at a critical moment for the White House to persuade PM Sudani on reaching a lasting deal with Kurdistan that will be in the interest of financial & security stability for both sides.
The USG has more than enough leverage to get this done IF it wants to."

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(Quote)Rudaw English@RudawEnglish 3h

BREAKING: US President Joe Biden to receive Iraqi Prime Minister Mohammed Shia' al-Sudani in Washington on April 15 "to coordinate on common priorities and reinforce the strong bilateral partnership between the United States and Iraq - White House statement

[furenstaurus] 22/3/2024 19:55

Yes Jon pretty much told PI FILL YER BOOTS AND YOUR BATH!! . CEO BUY recommendation....HTTPS://x.com/chicagojack5/status/1771158572434379202?s=61&t=EEAJRmerpfLiAmForyb8Dw

[mmt1] 22/3/2024 19:46

No reason for dilution. Cash Flow postive, not in debt - no shareholder would allow. In tight hands. imo... I actually don't live in Cardiff Habs, just hoping to be there on Tuesday due to a football game... I am going to be disabled as its the only ticket I can possibly get from non ticket touts..

I know I have t1 diabetes and neuropathy but still... SW England week ending April19th? :P I have no objection to giving a bloke a smacker on the cheek for help given. Call it mutual admiration!

Whitehouse message is indisputable though I would say, especially last line..

They will also discuss ongoing Iraqi financial reforms to promote economic development and progress towards Iraq’s ENERGY independence and modernization.

[habshan] 22/3/2024 19:38

All moving in the right direction.

Turkish FM Emphasizes Closer Ties in Newroz Message to PM Barzani.

The friendly exchange highlights the mutual commitment to fostering constructive relations and friendship between the Kurdistan Region, setting a positive tone for future collaboration across various sectors.

[r9505571] 22/3/2024 19:36

New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year.Increase in shares outstanding: 2.8%This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings.This is currently the only risk that has been identified for the company.

[habshan] 22/3/2024 19:13

S&P Global - "The ITP consists of two parallel lines, of 48-inch and 40-inch diameter, with a nominal capacity of 1.6 million b/d."

It's a very big capacity pipeline, by far the largest in Iraq and one of the biggest in the Middle East and Iraq is contractually obliged to fill it.

And 1.6 million bpd is a LOT of oil, it's 1.6% of world output.

When it closed a year ago volumes going through it amounted to around 450kbpd.

In the above article we read this:-

"The ongoing discussions between Baghdad and Ankara aim to address the longstanding disputes concerning oil exports through the port of Ceyhan and related contractual matters,"

If Iraq is to fulfill it's contractual obligations under the ITP agreement and "address the longstanding disputes concerning oil exports through the port of Ceyhan and related contractual matters," then it needs to fill the pipe as per it's obligations to Turkey under the contract.

And that means that in addition to restarting Kurdish exports they need to find some 1.2 million bpd from somewhere.

They need every drop of oil from wherever they can find it.

And that means feeding every pipeline at their disposal in the area into the metering station at Fishkabour.

And that's why they've been refurbishing the old pipeline from Kirkuk to Fishkabour via Mosul amongst others.

"Bassem Ngish confirmed that talks between Iraq and Turkey have resumed regarding the export of oil from the Kurdistan Region, underscoring Iraq's vested interest in resolving the issue in collaboration with Ankara."

It's all coming together.

[luckyclicker] 22/3/2024 18:52

Great find mmt

[habshan] 22/3/2024 18:38

20 minutes ago.

Iraq and Turkey Resume Talks on KRG Oil Exports.

ERBIL — Iraq and Turkey have initiated discussions to resume oil exports from the Kurdistan Region through the Turkish port of Ceyhan, a member of the Iraqi parliament's oil and natural resources committee said on Friday.

Bassem Ngish confirmed that talks between Iraq and Turkey have resumed regarding the export of oil from the Kurdistan Region, underscoring Iraq's vested interest in resolving the issue in collaboration with Ankara.

"The ongoing discussions between Baghdad and Ankara aim to address the longstanding disputes concerning oil exports through the port of Ceyhan and related contractual matters," Ngish elaborated.

The focal point of contention has been the export of oil from the Kurdistan Region through the Turkish port. However, Ngish indicated that these issues are now being deliberated upon in the discussions between the Iraqi government and Turkish authorities.

In March 2023, Turkey discontinued the oil export route from the Kurdistan Region as a response to an arbitration judgment issued by the International Chamber of Commerce (ICC) based in France. This ruling mandated Ankara to provide compensation to Baghdad for what was termed as "unauthorized oil exports" from the Kurdistan Region during the period from 2014 to 2018.

[habshan] 22/3/2024 17:24

Thanks mmt.

We have a date for Sudani's visit.

On April 15, President Joe Biden will welcome Prime Minister Mohammed Shia’a Al-Sudani of Iraq to the White House.

[johnbuysghost] 22/3/2024 17:13

Long lunch today and I'm pished but whispers suggest that institutions are happy to keep on accumulating at around 100p. Everyone sees this price as a ridiculous giveaway given GKP's huge assets.

[hugetakeaway] 22/3/2024 17:08

Yes Jon pretty much told PI FILL YER BOOTS AND YOUR BATH!! . CEO BUY recommendation….

[habshan] 22/3/2024 17:01

"The point I'm making is that because of all the "shenanigans" that get pointed to in one of the planets most corrupt areas is that Erbil more so than Baghdad wouldn't want a forensic examination of their oil industry for obvious reasons."

That's where you're wrong Sarah and you're missing the point.

So you think that embarrassment concerning corruption around what the Kurds do with their money would make APIKUR decide not to go to court.

To APIKUR's case which concerns the legality of the contracts, corruption in Kurdistan is utterly irrelevant and would have no bearing whatsoever on their decision to go to arbitration.

If it went to arbitration it would be DEVASTATING to the Federal Government were the legal and constitutional validity of the so called Iraqi Supreme Court itself be ruled against. That would mean that EVERY decision made by that court since it's inception some 20 years ago including it's ruling against the PSCs would be deemed illegal and invalid.

However there's worse, far far worse.

International Arbitrator Judge Stephen M. Schwebel.

It's also the case that the arbitral court in assessing the legality of the contracts the Kurdish energy industry and the Kurdish Oil & Gas Law would rule on "the issue of Articles 110, 114, 115, and 121 of the Constitution, which do not grant the Federal Government exclusive authority over oil and gas resources. Instead, these articles empower regions to manage the production of oil and gas within their territories."

THAT has already been ruled on by the English High Court and would inevitably form part of the arbitral court's deliberations, and a ruling on THAT would be CATASTROPHIC for the Iraqi state and could potentially lead to the break up of the country.

Arbitration is something that the Federal Government needs to avoid at all cost.

[mmt1] 22/3/2024 16:42

Anyone live in Cardiff btw?

[mmt1] 22/3/2024 16:39

edited - thought this one might cause a stir....


Statement from Press Secretary Karine Jean-Pierre on the Visit of Prime Minister Mohammed Shia’a Al-Sudani of Iraq to the White House
hxxps://www.whitehouse.gov/briefing-room/statements-releases/2024/03/22/statement-from-press-secretary-karine-jean-pierre-on-the-visit-of-prime-minister-mohammed-shiaa-al-sudani-of-iraq-to-the-white-house/

[hugetakeaway] 22/3/2024 16:35

Yes Jon pretty much told PI FILL YER BOOTS AND YOUR BATH!! . CEO BUY recommendation….

[bigdog5] 22/3/2024 16:34

Queen lemming sarah, yet again you miss the important point I'm making because you're too caught up in your own agenda and desperate need to gain tick ups from your fellow clueless acolytes. No one wants it to go to court as it could be buried for years in the deep sand. All parties want the money from the oil, the PSC's will be altered to something acceptable for all. There is no point in Baghdad cancelling the contracts and starting again with new parties. Time is money.

The point I'm making is that because of all the "shenanigans" that get pointed to in one of the planets most corrupt areas is that Erbil more so than Baghdad wouldn't want a forensic examination of their oil industry for obvious reasons.

Baghdad are trying to sort out that major problem by taking control over their oil/gas Industry so they can see that the revenue arrives in a Bank account they monitor matches the barrels exported. However, to ensure the numbers stack up they want proof of how many barrels go through the pipe and don't go "missing", how many salaries for real people they have to pay for. Baghdad may, as BB has suggested need to control the FK station. When all that gets sorted Baghdad will offer Epicure something they can live with and that will be the same for Turkey. IMHO.

[hugetakeaway] 22/3/2024 16:15

IWNWTBOTOTW.SINOPEC

[hugetakeaway] 22/3/2024 16:05

Yes Jon pretty much told PI FILL YER BOOTS AND YOUR BATH!! . CEO BUY recommendation….

[marcandrew] 22/3/2024 16:04

And yet he did not

[hugetakeaway] 22/3/2024 16:00

Yes Jon pretty much told PI FILL YER BOOTS AND YOUR BATH!! . CEO BUY recommendation….

[hugetakeaway] 22/3/2024 15:59

New CFO to be 420,000

[hugetakeaway] 22/3/2024 15:58

CFO 680,,000

[marcandrew] 22/3/2024 15:56

Mr. Jon Harris
Executive Director, Chief Executive Officer 30,000