Gulf Keystone Petroleum Share Discussion Threads

[pittcock] 07/12/2024 00:30

From Kurdistan Watch on x'In the coming days, it will become clear whether the amendment moves forward or if the issue becomes further politicized, with al-Maliki leveraging the situation to undermine Prime Minister al-Sudani's position.'Susan needs to use emergency powers to railroad this through. Enough with these meddling Iranophiles.

[steephill cove] 07/12/2024 00:06

In one months time Sleepy Joe Biden will have gone & with it USA 🇺🇸 weakness.

Trump is unpredictable & he brings strength to the USA 🇺🇸 once more.

Trump is not a warmonger & he loves a deal.

[steephill cove] 06/12/2024 23:55

The ICG undoubtedly backed themselves into a corner.

But what they didnt see coming, were the additional political circumstances which have contrived to put way more pressure onto them than they ever imagined possible.

[steephill cove] 06/12/2024 23:24

The ICG now know:-

1. That the IOC PSCs are enforceable.

2. That they could get sued by IOCs for obstruction.

3. That they lose control of the Iraq to Turkey pipeline in September 2025.

4. That Trump could sanction Iraq for allowing cheap KRG oil to go into Iran.

5. That Syria could fall quite quickly without Russian intervention to support it (due to Russian being exposed due to their war against Ukraine) & that Iran will then become much weaker as it loses its ability to supply arms to Hezbollah & Hamas via Syrian routes to attack Israel. Cutting off those armament supply lines will give Israel carte blanche to go after Iran without so much of a nearby threat.

6. That if Israel decides to retaliate against Iran, the Straight of Hormuz could go & then Iraq lose the ability to export 90% of their oil out of Southern Iraq.

[ozzmosiz] 06/12/2024 22:55

Should sue them

[nestoframpers] 06/12/2024 21:38

Sothick the bond holders went short after the CC , how did they know back then the restructuring was coming ?

[nestoframpers] 06/12/2024 21:27

I concur its appalling what's gone on , the GKP saga is like a Csmbodian mine field.

[habshan] 06/12/2024 21:15

Capital Markets Day March 2019:-

Sami Zouari - "For a premium listing for the Kurdish players there is a roadblock with respect to the legal framework and Baghdad versus Kurdistan. You talk to the Regulator and they say "mmmmm it's not quite clear yet with respect to those contracts. At the end of the day Baghdad is the Sovereign Capital, we don't have a problem with that, you're a good company but let's wait for this to be fixed." It's a bit like GKP or our peers not being eligible yet for direct lending and debt, so even though those companies are very profitable there is always a hurdle with respect to the perfected legal framework. We have no issues with that but from a compliance or regulatory standpoint these are the types of hurdles that we have to deal with."

Right from the start the refusal of successive governments in Baghdad through obstinacy stupidity and sheer malice to acknowledge the constitutional right of the Kurds to sign their own contracts and hence acknowledge their legitimacy has caused enormous problems not only for GKP and the other IOCs but for the KRG to manage their own oil sector, as Sami said it was even the reason the IOCs had difficulties in accessing funding to progress their operations.

Now that the Prime Minister of Iraq has acknowledged that the contracts are legal and were legal all along then that closes the legal framework that Sami refers to.

"The courts have ruled the existing contracts with IOC's are formal contracts and can't be revoked (despite previous threats of this by Iraq)"

It's taken all these years for them to acknowledge what was staring them in the face which is that the contracts are legal and it's because of them that GKP wasn't producing 100kbpd 10 years ago.

The harm done to the IOCs and their investors simply due to the bullying tactics of people like Nouri al-Maliki is absolutely enormous and under the investment treaties that Iraq has signed up to the potential compensation claims in the arbitral court could be mind boggling.

Bring it on.

[nestoframpers] 06/12/2024 20:29

I remember a canny PI on iii saying he was selljng up at 130p in 2009 citing no HCL as the reason. He said hed be back once it was official with ICG. And look it's still in the 130s . Bloody switched on chap he was.

[nestoframpers] 06/12/2024 20:18

Surprised CNN are interviewing HTS as the Arab world see them as nothing more than ISIS

[nestoframpers] 06/12/2024 19:31

2 years ! They mean 15 years .

[fardels bear] 06/12/2024 19:29

Collapse of stout party.With a bit of luck.

[kevc67] 06/12/2024 19:14

Straight from the PM! He'll be gutted. Also reassuring a British consultant to assess IOC costs!

[habshan] 06/12/2024 19:09

Nothing new but worth a watch!.

Actually Kev there IS something new, something very very very important.

The government of Iraq have finally acknowledged that their "Supreme Court" and previous governments were wrong and that the PSCs are legal.

Since February 22 when our board bonehead Bigdog fell for it hook line and sinker he's based his entire argument about the ICG being in "complete control" around the absurd assertion that the contracts are illegal simply because the so called "Supreme Court" said so in spite of all the legal evidence to the contrary.

Sudani yesterday in Parliament - "The courts have ruled the existing contracts with IOC's are formal contracts and can't be revoked (despite previous threats of this by Iraq)"

2 years of grief and $24 billion just thrown away for nothing, it's enough to make a grown man cry.

Well Sarah, anything to say???

[kevc67] 06/12/2024 18:47

https://x.com/acryptofuture/status/1865044721594458434?s=61&t=FDRKSrK9UJlhX5Xlkdak-w Nothing new but worth a watch!

[redbed] 06/12/2024 17:02

It doesn't matter. company is obviously soldPremium obviously enormous, hence the staff vesting conditions needed changing.So it doesn't matter whether you pay 1.39 or 1.35 etc.You just want to have as many as possible, pre the Sale RNS, which will be any day.

[bigdog5] 06/12/2024 16:53

Not reading your BS and lies anymore Queen lemming sarah/Carroll.

[shortsqueezer] 06/12/2024 16:45

Agreed. It's a win win for us long termers who are prepared to wait a bit longer. In fact, I am more than happy to wait until September to be honest.

[ozzmosiz] 06/12/2024 16:41

If not this time, September 2025. Not long to wait

[redbed] 06/12/2024 16:28

It doesn't matter. company is obviously soldPremium obviously enormous, hence the staff vesting conditions needed changing.So it doesn't matter whether you pay 1.39 or 1.35 etc.You just want to have as many as possible, pre the Sale RNS, which will be any day.