Gulf Keystone Petroleum Share Discussion Threads

[habshan] 12/6/2024 10:10

Today Rudaw- "A source from the IOCs in the Kurdistan Region tells Rudaw that the Iraqi government was "disingenuous" and "not willing to negotiate" during the tripartite meeting earlier this week in Baghdad.

The Iraqi government "just wanted companies to export at $6 a barrel, which is preposterous," the source said."

Yesterday Rudaw - "Myles Caggins told Rudaw on Monday that the meeting was important, positive and productive, hoping for more similar meetings in the near future to resolve this issue.

Baghdad is now wanting to have discussions about the contracts and the process and the payments and budget for the resumption of exports, for future exports through the Iraq-Turkey pipeline, he added."

I'll go with Caggins.

I don't believe that APIKUR have lurched from "important, positive and productive, hoping for more similar meetings" to "a complete waste of time" in 24 hours.

Shenanigans.

[shareho1der] 12/6/2024 10:05

Someone called me yesterday and offered to buy my shares for 500 pence. Should I sell or tell her where to go?

[shortsqueezer] 12/6/2024 10:05

So have you signed some sort of NDA ?

[richscotsman] 12/6/2024 10:03

I got the wav file from a discussion but apparently I am not allowed to disclose discussions with my broker.

[shortsqueezer] 12/6/2024 09:53

Nope. Probably out of my league. What are they offering you?

[richscotsman] 12/6/2024 09:52

Has anyone's broker tried to call them trying to buy shares?

[petebreeze37] 12/6/2024 09:52

Rudaenglish, in my opinion have only regurgitated a lot of nonsense.

[redbed] 12/6/2024 09:49

When the sale is announced, under Bermuda corporate law, buyer and acquirer, issue an independent valuation of the sale, that shareholders can read prior to voting it through at SGMOf course the inside major shareholders who will already have agreed the sale valuation wlll already have seen it.

[0ili0] 12/6/2024 09:46

The super majors have visited the data room. They know what they're buying and what it'll cost. 🛢️
29312;💭

[fairenough11] 12/6/2024 09:44

....and one that uses the correct FP figure?lol

[redbed] 12/6/2024 09:34

So many conflicting reports....However it all remains a side show as the company has clearly agreed a sale TBA

[redbed] 12/6/2024 09:32

Plor thickens

[fairenough11] 12/6/2024 09:30

The "VALUATION" uplift from this level, should it all go our/GKP's way, is mind bogglng imo and then throw in Corporate Action,Amalgamation?/Farm in/JV possibilities.
The ride back up could be fierce.
GLA.

[beernut1] 12/6/2024 09:22

Just bought another last batch of shares.
Don’t know how many last batches I’ve had.
But it feels closer than ever before.

Gla

[shortsqueezer] 12/6/2024 09:22

Mmt just have a look at the 3yr chart :-)

[hydrocarbon1] 12/6/2024 09:22

RS --Och aye, gee a little gain a lot!!!

[mmt1] 12/6/2024 09:20

you do get a feeling there will be a sudden jump upwards soon.. the trend is your friend and all that..

[richscotsman] 12/6/2024 09:19

The fact of the matter is that for the small price (comparatively to what has been lost over the past 15 months); by respecting existing contracts, perhaps with a bit of compromise the whole of Iraq including the KRG region will benefit from confidence in inwards investors moving forward. That is vital to address the large scale transport, water and diversification enterprises that are required to improve the quality of life for everyone in the region. Yes, they could try to screw the IOC's but it would be digging their own grave if they did so. As such I have 1m of shares here and am holding tight.

I could be wrong and the last 15 months have been testing for me but I am certain that I am right. My patience remains.

[shortsqueezer] 12/6/2024 09:03

Yes!And as for TRIpartite talks I'm pretty sure there will have been at least a fourth entity involved.

[habshan] 12/6/2024 08:58

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, though in the months leading up to its closure, volumes averaged around 450,000 b/d, comprising about 350,000 to 375,000 b/d of Kurdish Blend Test and 75,000 to 100,000 b/d of federally produced Kirkuk grade."

3 weeks ago - "Kirkuk is a producing conventional oil field located onshore Iraq and is operated by North Oil. According to GlobalData, who tracks more than 34,000 active and developing oil and gas fields worldwide the Kirkuk oil field has recovered 98.83% of its total recoverable reserves, with peak production in 1974. Based on economic assumptions, production will continue until the field reaches its economic limit in 2029. The field currently accounts for approximately 3% of the country’s daily output."

So up to the pipeline closure Kirkuk was contributing 75-100kbpd to exports through the pipeline and is in decline with only 5 years of economic life left and currently produces 3% of Iraq's current 4 million bpd output or 120kbpd.

The ITP is Iraq's biggest pipeline network with a capacity of 1.6 million bpd and Kirkuk can only contribute 120kbpd of that.

Both Turkey and Iraq will want that pipe filled so to fill it the Kurdish fields will need to increase their output from 400kbpd to 1.5 million and then 1.6 million bpd within 5 years as Kirkuk ceases to be economically viable.

Make of that what you will.

As Ihsan Abdul-Jabbar Ismail who was Iraq's previous Oil Minister said only 2 years ago:-

"This is big money, if Sarsang Atrush and Shaikan should become one it would amount to the world's third largest oil field."

No.3 means 25-66 billion barrels of recoverable oil."

Development of a field of that size will need a consortium and the minnows who currently operate there just don't have deep enough pockets to do it within any sort of sensible timeframe.

To ramp up at the necessary scale the area would need to be flooded with rigs and the cost of all the production and gas handling facilities along with everything else would be huge.

[0ili0] 12/6/2024 08:55

That's 46 that won't be heading to a GS trader's bonus 👍

[gazebo79] 12/6/2024 08:37

Slipped another 46 in haha.ive run outta brass but as they say every little helps.hope I've not bought at the days high again lol.

[hydrocarbon1] 12/6/2024 08:13

Beer -Of course!!! Corporate Secret Confidential Signal Prior to Sale CSCSPTS 😊