Gulf Keystone Petroleum Share Discussion Threads

[highlander7] 20/5/2024 17:50

They can keep this up if they like. BUT there will be consequences a year or so down the road. Expensive consequences.

[redbed] 20/5/2024 16:49

With peel and cannacord sat under bid as buying support, any other entity(s) wanting stock is bidding it up gently currentlyAs we get closer to AGM notice and the accompanying proposed resolutions, that's May 30, latest, it might get less gentle......

[shortsqueezer] 20/5/2024 16:43

Nice UT at the days high

[petebreeze37] 20/5/2024 16:24

Habshan, I agree that the Iraq government are seemingly nincompoops and
despicable people, but at the end of the day the only people who suffer the wáter shortages and the poverty are the poor people.

[habshan] 20/5/2024 16:00

"There won't be any progress until Erbil provide to Baghdad/SOMO what they've requested. See if you can gather together some brain cells to reach the conclusion as to why Erbil are extremely reluctant to do that."

If you had a brain cell Sarah you'd be able to work out the answer to your question.

Here's a clue, from the MNR only 4 weeks ago:-

"As the MOI well knows, there is no provision of the 2005 Constitution of Iraq that confers any power upon the FGI to “approve” contracts issued by the KRG. The legal basis for those production contracts is the 2007 KRG Oil and Gas Law, passed unanimously by the democratically-elected Kurdistan parliament. That 2007 law is acknowledged by the world’s leading constitutional and international lawyers as having a solid basis in the 2005 Constitution of Iraq. Those lawyers include the late Professor James Crawford, a Judge of the International Court of Justice, and more recently Judge Stephen Schwebel, a former President of the International Court of Justice. Both lawyers published their opinions. Those eminent opinions have, quite rightly, been the basis of hundreds of billions of dollars of investment, including a great deal of western investment, in Iraqi Kurdistan.

By contrast, the MOI relies on nothing more than a February 2022 “order” from a panel or committee of political appointees in Baghdad that asserts the unconstitutionality of the 2007 KRG law. While the MOI publicly refers to that committee as the “Federal Supreme Court”, everyone knows that it is no such thing. The so-called “court” was not convened in accordance with the relevant provisions of the 2005 Constitution. It is revealing that the MOI does not even argue for the legitimacy of that committee. As one would expect, the February 2022 “order” of the political committee is, like the Saddam-era orders on which it is modelled, almost comically devoid of even the most rudimentary legal reasoning. It is an embarrassment to the people of Iraq. The KRG executive pointed out this plain fact from the moment the “order” was issued, followed soon after by the KRG legislature and judiciary. The KRG judiciary is properly constituted, and it does not recognise the 15 February 2022 order as the decision of a court."



As far as the KRG the IOCs and the Iraqi Constitution are concerned, contracts issued by the KRG are not the concern of the Federal Government and the Federal Government has no powers whatsoever to go poking their noses into them.

Meanwhile Kurdish production is almost back up to pre pipeline closure levels and everyone except the Federal Government is making good money out of it including the Kurds the IOCs and the Turks with GKP making some $96 million a year profit.

So they're all happy to tootle along until September 19th next year which is now only 16 months away when the ITP agreement expires. This is what the DNO CEO recently said about that:-

"We do know that the pipeline will open within the next two years sometime, because the contract between Turkey and Iraq for the use of that pipeline ends next year, Turkey can then do with the pipeline what it wants without any further exposure to the legal side, that may be a factor in their thinking. So it won't be shut in forever. Once the existing arrangements end they will end and the pipeline will reopen.

In the meantime there's a lot of value to us in getting paid in advance, it's been no use to us having oil in the $60 a barrel range after all the adjustments in the past when we're getting paid zero for them, I'd rather have $30 in the hand rather than the promise of $60 somewhere where I can't quite reach or grasp it or it can be taken away from me. We're comfortable with this $10 million a month sum, we'd like to see it higher of course but we'll be fine."

And this is what we are told is the Turks take on the situation after Erdogan's visit last month:-

"While Iraq has been preparing to resume oil exports from Kirkuk to Turkey, Erdogan likely prefers resuming exports through the KRG's pipeline. Critics claim the agreement's political dimension is to maintain the KDP's power and continue its leaders' rule in the Kurdistan Region with Ankara's support."

And talking of Iraq preparing to resume exports through Kurdistan Fishkabour and Turkey using their newly refurbished pipeline, you told us that was going to happen by the end of April and that it demonstrated that Baghdad were in control.

So how's that one going, it seems to have gone very quiet.

The Kurds and the IOCs are in no hurry to make concessions on their constitutional and legal rights because they don't need to, all they have to do is wait it out until next September, and Erdogan has already indicated whose side he is on.

And in the meantime the so called Supreme Court has told the Federal Government that they have to keep paying the Kurds salaries.

So as far as I can see the only people who need to get this done pronto are the Federal Government, with temperatures in southern Iraq heading towards the high 40s and not a drop of rain for the next 6 months.

All looks pretty good to me.

[milliecusto] 20/5/2024 15:27

Yet we sell 48k a day of sludge lol mmmm

[redbed] 20/5/2024 14:20

#gkp #gkptakeover Buyback details ( will update as it progresses) This has to date concentrated capital ( and profits for remaining holders at takeover) 0.313% share price has climbed 13.8% since start. Corporate TACTICS too drive value / drive bids BTW 😎.

[redbed] 20/5/2024 14:19

Its, all a side show anyway.TAKEOVER in process

[redbed] 20/5/2024 14:19

Its wakey wakey on the East Coast across the pond , and for the 30,300th time Yankee Doodle Condog posts AND ONLY EVER ON THIS STOCK ( barely credible - LOL ) the paid American sentiment basher clocks in for work.If CARLSBERG did BUY signals.FILL YER BOOTSTAKEOVER RNS INCOMINGTHIS MONTH.HTTPS://x.com/ChicagoJack5/status/1787790142574325840

[beernut1] 20/5/2024 14:18

Looks like about 12% budget increase. Let’s hope some is to pay Kurdistan oilers.

[adamrugen1066] 20/5/2024 14:15

Bigdog, that's rather bold of you to assume that you have opinions that are worth discrediting.

[bigdog5] 20/5/2024 14:15

There won't be any progress until Erbil provide to Baghdad/SOMO what they've requested.

See if you can gather together some brain cells to reach the conclusion as to why Erbil are extremely reluctant to do that.

[bigdog5] 20/5/2024 14:12

There is no one in the background that's interested in the sludge for what ought to be obvious reasons.

There has been virtually no progress made ever since the pipe was closed.

[redbed] 20/5/2024 14:12

Its, all a side show anyway.TAKEOVER in process

[eddie47] 20/5/2024 14:10

It all seems like an astonishing lack of progress!

[redbed] 20/5/2024 14:08

#gkp #gkptakeover Buyback details ( will update as it progresses) This has to date concentrated capital ( and profits for remaining holders at takeover) 0.313% share price has climbed 13.8% since start. Corporate TACTICS too drive value / drive bids BTW 😎.

[redbed] 20/5/2024 14:08

Its wakey wakey on the East Coast across the pond , and for the 30,300th time Yankee Doodle Condog posts AND ONLY EVER ON THIS STOCK ( barely credible - LOL ) the paid American sentiment basher clocks in for work.If CARLSBERG did BUY signals.FILL YER BOOTSTAKEOVER RNS INCOMINGTHIS MONTH.HTTPS://x.com/ChicagoJack5/status/1787790142574325840

[bigdog5] 20/5/2024 14:06

Shareho1der, its not me and you know that. I only use the same name I've always used.

Its another bogus moniker set up by the usual suspects all in order to mislead others.

Like Hills or Carroll who have tried various means over the years all in order to try and discredit my opinions. That's the pathetic level a few of you morons have been forced to sink to. Desperate is as desperate does.

As for the views believing that you only have to wait it out until the pipe contract expires that's just delusional fantasy yet again.

All Erbil have to do is produce to Baghdad what they've requested and the negotiations can start in earnest. But the terms will be altered one way or another.

[shareho1der] 20/5/2024 11:31

Anyone see the "littledog6". Be careful, folks. That is the new "bigdog6".

[worldquant] 20/5/2024 11:10

#gkp #gkptakeover Buyback details ( will update as it progresses) This has to date concentrated capital ( and profits for remaining holders at takeover) 0.313% share price has climbed 13.8% since start. Corporate TACTICS too drive value / drive bids BTW 😎

.

[petebreeze37] 20/5/2024 10:12

Being a pessimist I can see them holding the price back during this first 10 million, but harder to knock back a second and subsequent buy back.
But anything may happen in the meantime.

[milliecusto] 20/5/2024 10:00

Seems most of the buyback today just happened, let's see if it holds