Gulf Keystone Petroleum Share Discussion Threads

[worldquant] 18/5/2024 14:33

Bob doesn't understand what is happening here..Antitakeover DefensesIn response to these hostile takeover techniques, targets usually devise the following defenses:1. Stock repurchaseStock repurchase (aka self-tender offer) is a purchase by the target of its own-issued shares from its shareholders. This is an effective defense that successfully passed such prominent antitakeover defense cases as Unitrin above and Unocal Corp. v. Mesa Petroleum Co.

[grouchomarx] 18/5/2024 14:15

Totally agree.

[johnbuysghost] 18/5/2024 14:13

It's a takeover by stealth and the BOD have got wind of it imo.

[shortsqueezer] 18/5/2024 14:04

I can see that. But we've only bought just over 300k but the share price has risen over 10 percent. That doesn't correlate Not that I'm complaining.

[bobgray51] 18/5/2024 13:40

This is one of two ways to return value to share holders. If the price of the stock is overvalued, then dividends are better for shareholders. If undervalued then buybacks are better. It's as simple as that. Occasionally buybacks can and are used to artificially inflate a stocks price so that management hit their performance targets. But this is not the case here. Management are being very sensible. There is no ulterior motive or anything shady. And it's not some kind of takeover defence or order book working. The stock is relatively liquid. It trades several million shares a day, every day. Buying 10 million of stock and cancelling these shares makes everyone who owns shares in the company richer. We all benefit. When the pipeline opens we will doubly benefit.

[bobgray51] 18/5/2024 13:33

The process to elect a new speaker is starting. "Source: The penalty for any MP who causes trouble during the speaker of the parliament selection session may include his dismissal from Parliament." Looks like they might actually get it sorted this time around. Here's hoping.

[shortsqueezer] 18/5/2024 13:23

Would it not make more sense to keep them in treasury though? Assuming they would still carry voting rights?

[0ili0] 18/5/2024 12:31

Just Stop Oilman. 👌

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[pittcock] 18/5/2024 12:25

Thanks for the info. In other news Geoff Hurst just scored a hat trick in the world cup final and Argentina have invaded the Falklands.

[shortsqueezer] 18/5/2024 12:25

Just read this for the second time and it appears a bit confusing. So the initial buy is for £10000000 worth but have stated that they may buy up to 22 plus million shares. Also on the one hand they say they will be held in treasury but then go on to say they will be cancelled. That's how it appears anyway.

[r9505571] 18/5/2024 12:10

Gulf Keystone Petroleum Limited (LSE:GKP) commences share repurchases on May 16, 2024, under the program mandated by the shareholders in the Annual General Meeting held on June 16, 2023. As per the mandate, the company is authorized to repurchase up to 22,244,365 shares, representing 10% of its issued share capital. The minimum price, exclusive of expenses, which may be paid, is the nominal value per share. The maximum price which may be paid for any such ordinary share is the higher of 5% above the average of the middle market quotations for the ordinary shares in the company as derived from the London Stock Exchange Daily Official List for the 5 business days immediately preceding the date on which such ordinary shares are contracted to be purchased and the higher of the price of the last independent trade and the highest current independent bid on the London Stock Exchange Daily Official List at the time the purchase is carried out. The repurchased shares will be held as treasury shares. The plan will be valid up to the conclusion of the next Annual General Meeting of the company in 2024. As on May 18, 2023, the company had 222,443,655 shares in issue and no shares in its treasury. On May 13, 2024, the company announced a share repurchase program. Under the program, the company will repurchase up to $10 million worth of its shares pursuant to the contract with Peel Hunt LLP and Canaccord Genuity Limited. The repurchased shares will be cancelled. The repurchases program will commence immediately and run to the earlier of its completion or the Company's 2024 Annual General Meeting on 21 June 2024.

[worldquant] 18/5/2024 11:43

The new budget would need to contain some agreed numbers ( with IOC )if oil is to flow from Kurdistan.
If there was now no agreed numbers , whats the point of voting new budget through?

[habshan] 18/5/2024 10:43

A couple of weeks ago Nechirvan Barzani followed up on his Baghdad visits and unexpectedly went to Tehran for meetings with the Iranian leadership.

Last week a Kurdish delegation spent 3 days in Baghdad for meetings with the Finance Ministry and Oil Minister that particularly focused on the issues surrounding Kurdistan’s oil and its budget allocation.

Today the Iraqi Parliament will try to elect a new speaker.

Tomorrow al-Sudani will hold an extraordinary meeting of the Cabinet to discuss the budget, the huge $42 billion deficit and the new budget amendments that will try to address that deficit.

Presumably if things pan out as they hope there will then be an announcement saying when the new budget will be put to parliament to be voted on.

Let's hope all that can move things forward.

Fingers crossed.

[littledog6] 18/5/2024 09:23

What’s all this got to do with oil

[fardels bear] 18/5/2024 09:18

Wife's signed it.

[fardels bear] 18/5/2024 09:08

Try to read up on Excess Deaths. You'll need to use a search engine other than Google and you won't find it in any newspaper or tv channel as they are all still on message. It's real and persistent, getting worse, try YouTube Robert Clancy, Peter McCullogh and there are some others in prison on trumped up charges. Or try bitshoot.

[fardels bear] 18/5/2024 09:03

I've signed it too..

[klassic] 18/5/2024 08:48

It’s “our” NHS. It’s “our” BBC.
Both now hijacked by an elite liberal, parasitic class. Ours is an ageing democracy tearing itself apart from within. Death must always follow life.
I’m sorry to hear of your troubles mmt1. I’ve signed your petition. I admire people who get things done.

[justiceforthemany] 18/5/2024 08:28

Question is why is the scandal that is doctors out of work and being replaced by quacks not making national TV/Radio? Government suppression perhaps? They report on so much nonsense but matters of life and death are not important?

[beernut1] 18/5/2024 07:31

MIRS founder highlights U.S. role in resuming Kurdistan oil exports
Jaafar noted, "It is clear to the United States, Turkey, and U.S. companies that Iraq is preventing the resumption of oil exports from the Kurdistan Region." author_image Kamaran Aziz
18 Hours

The Kurdistan Region's Prime Minister Masrour Barzani and Assistant Secretary Pyatt met in the energy facility of Mass Global, Thursday May 16, Erbil. (Photo: Kurdistan 24)
The Kurdistan Region's Prime Minister Masrour Barzani and Assistant Secretary Pyatt met in the energy facility of Mass Global, Thursday May 16, Erbil. (Photo: Kurdistan 24)
Kurdistan PM Masrour Barzani Geoffrey Pyatt MIRS Energy Sector Kurdistans Oil & Gas Sector
Erbil, Kurdistan24 – The United States is committed to ensuring global energy security, and this commitment extends to resuming oil exports from the Kurdistan Region, according to Bahroz Jaafar, president of the Mediterranean Institute for Regional Studies (MIRS).

Speaking to Kurdistan24 on Friday, May 17, 2024, Jaafar emphasized that the U.S. and Western countries have been staunch supporters of the Kurdistan Region's oil industry since its inception.

"The United States sees itself as responsible for global energy security, so it is more eager than anyone else to resume oil exports from the Kurdistan Region," Jaafar stated.

Since the establishment of the Ministry of Natural Resources in 2006, the U.S. has played a significant role in the development of the Kurdistan Region's oil sector.

Jaafar highlighted the substantial investment made by the U.S. in the Kormori field in October 2021, amounting to $250 million to expand the facilities.

Jaafar noted, "It is clear to the United States, Turkey, and U.S. companies that Iraq is preventing the resumption of oil exports from the Kurdistan Region."

This ongoing obstruction poses challenges to the regional and global energy markets, reinforcing the urgency for resolving the issue.

The U.S. remains actively involved in efforts to address these challenges, reflecting its broader strategic interest in maintaining energy stability and supporting its allies in the Kurdistan Region.

As diplomatic and economic efforts continue, the resumption of oil exports remains a critical goal for regional and international stakeholders.

On Thursday May 16, US Assistant Secretary for Energy Resources Geofrrey Pyatt, and following meeting with the Kurdistan Region's Prime Minister Masrour Barzani, visisted energy facilities of Mass Global in Pirdawood and Khurmala which is run jointly by Kar Group and Mass Global for the production of electrcity, gas and oil.

Assistant Secretary Pyatt highlighted the significant impact of his visit to the energy facilities in the region, drawing comparisons to oil-producing areas in the United States such as Oklahoma.