Gulf Keystone Petroleum Share Discussion Threads

[fairenough11] 04/1/2025 05:49

Yes the politics have to catch up,but the main thing has already happened--The legitimisation of Kurdy Oil/Contracts.On that basis the main event---Greater Shaikan/Deals etc can come at anytime with or without the political ok for the reopening of the pipeline.
Watch this space.
The market is speaking.
IMO
GLA.

[highlander7] 04/1/2025 05:39

Yes it could take months to finalise the contracts OR they could agree an MOU ( Memorandum of Understanding) to allow opening of the pipeline. An MOU is in effect a temporary formal agreement which can be converted to a full contract providing all the conditions in the MOU are met by all parties..vis

MOU

In business, an MoU is typically a legally non-binding agreement between two (or more) parties, outlining terms and details of a mutual understanding or agreement, noting each party's requirements and responsibilitiesR12;but without establishing a formal, legally enforceable contract (though an MoU is often a first step towards the development of a formal contract).

[ptmorris1] 04/1/2025 02:39

But you are a Janner though eh?

[theshipscook] 03/1/2025 23:12

Wasn't a real chip shop.

[petebreeze37] 03/1/2025 22:21

By the time the contracts/ agreements are stamped it will only be 6 months until gkp and Turkey go it alone, it looks a win win and with one or two divis to come.
If only it were that simple, but there is light ahead.

[bobgray51] 03/1/2025 20:58

At least a couple of months and several not insignificant hurdles to get over. As I said before though... things definitely looking more positive than this time last year. I suspect we will see the dividend in March before the pipeline opens. But thats just my prediction. as clueless as everyone else... including the KRG by the looks of things.

[habshan] 03/1/2025 20:51

"Doesn’t seem imminent."

There's a way to go yet.

The PSCs have been confirmed as legal, next up is to get the budget amendment passed, then the independent consultant has 60 days to come up with some numbers, and if the IOCs agree with them then new contracts will have to be drawn up and signed. Then there's the issue of mechanisms to ensure surety of payments and payment of arrears.

Only then will the IOCs restart exports, but things are currently moving in the right direction with light at the end of the tunnel.

The main thing now is the passage of the budget law and the amendment through parliament, because once that's done then it should be out of the hands of bickering politicians and in the hands of the IOC negotiating teams and what we are advised will be a British Consultant.

Parliament reconvenes a week from now and we were told that passage of the budget law is a priority so if they can get that done then things should start to move more quickly and we can look forward to some commentary from Jon Harris in his promised update 3-4 weeks from now.

November - "Myles Caggins, spokesperson for APIKUR, told Rudaw last week that they see the amendment as a good step but before we begin exporting oil, we must have written agreements.

So right now, we are seeing the political law, the budget law, Article 12 of the budget law in Parliament. After that, we need to have written agreements, and each individual company must agree to these terms under the new contracts he said."

[kevc67] 03/1/2025 20:08

More of the same! https://www.kurdistan24.net/en/story/818127

[kevc67] 03/1/2025 20:00

US applying pressure before Parliament resumes?

[milliecusto] 03/1/2025 19:55

Doesn't seem imminent

[kevc67] 03/1/2025 19:49

Kurdistan Regional Government (KRG) Prime Minister Masrour Barzani and Geoffrey R. Pyatt, the US Assistant Secretary for Energy Resources, held a phone conversation to address the resumption of oil exports from the Kurdistan Region and broader energy cooperation.Following the call, Barzani emphasized the urgency of resolving the obstacles that have halted oil exports since March 2023. "We agreed on the importance of resolving the issues and removing the obstacles to the export of oil from the Kurdistan Region as soon as possible because the suspension has caused a lot of damage to the Iraqi budget," he stated.The KRG Prime Minister reiterated the need to uphold the financial rights of the Kurdistan Region as outlined in Iraq's constitution. He also highlighted the region's critical role in advancing Iraq's energy independence, economic growth, and regional stability.On September 23, 2024, Iraqi Prime Minister Mohammed Shia al-Sudani met with US Secretary of State Antony Blinken in New York, where the re-export of oil from the Kurdistan Region to international markets remains a key topic of discussion.Dilan Ghafoor, head of the Foreign Relations Committee in the Iraqi Parliament, told Peregraf that the US government is strongly advocating for the restoration of oil exports, viewing them as essential to regional stability and economic development.Oil exports from the Kurdistan Region have been suspended since a ruling by the International Court of Arbitration in Paris in March 2023. The court sided with Iraq in a dispute with Turkey, leading to an estimated $23 billion in losses for both Iraq and the Kurdistan Region.The ongoing disagreement between Baghdad and Erbil also centers on financial terms with international oil companies (IOCs) operating in the region. Baghdad seeks to renegotiate payment terms and replace the KRG's production-sharing contracts with service contracts, but these changes face resistance from IOCs.Efforts to amend Iraq's budget law are seen as a crucial step toward resolving these issues. The next few weeks will be critical in determining whether legislative and diplomatic initiatives can restore stability to Iraq's oil sector and revive trust among industry stakeholders.This call underscores the pressing need for collaboration between all parties to mitigate the economic impact of the prolonged suspension and secure a sustainable resolution.

[kevc67] 03/1/2025 19:45

ERBIL - Kurdistan Region Prime Minister Masrour Barzani and US Assistant Secretary of State for Energy Affairs Geoffrey Pyatt on Friday discussed the urgency of resuming oil exports from Kurdistan during a phone call, a statement said.Both officials highlighted the pressing need to resolve issues hindering oil exports, citing the suspension's adverse effects on Iraq's budget and economic stability. They also emphasized the importance of the Kurdistan Region's role in bolstering Iraq's energy independence and advancing long-term regional stability."The two sides reaffirmed their commitment to finding equitable solutions that support economic growth and Iraq's sovereignty," the KRG added in its statement.KRG crude exports have been suspended since March 2023, following a French arbitration court ruling that Turkey breached a 1973 pipeline agreement with Iraq by facilitating independent oil exports from the Kurdistan Region.The verdict mandated that the KRG obtain Baghdad's consent for oil sales, halting exports of 450,000 barrels per day, equivalent to 0.5% of global oil supplies. The suspension has strained Iraq's economy and contributed to rising global oil prices.

[kevc67] 03/1/2025 19:43

https://www.basnews.com/en/babat/871193

[kevc67] 03/1/2025 19:34

https://gov.krd/english/government/the-prime-minister/activities/posts/2025/january/krg-prime-minister-and-us-assistant-secretary-of-state-for-energy-affairs-discuss-oil-exports/

[kevc67] 03/1/2025 19:31

https://drawmedia.net/page_detail?smart-id=16184 More talk on Syria pipeline!

[johnbuysghost] 03/1/2025 18:46

Everyone on the o&g desks know about GKP. The pick of '25.

[shortsqueezer] 03/1/2025 18:06

Genl are not protected by a buyback situation as we are. Much easier to manipulate the share price. Notice how steady and solid we have been since our buyback option was introduced.

[bobgray51] 03/1/2025 17:59

Agree but one does wonder what might happen over the weekend, with parliament closed until the 10th and down days for both sharman and genel. Always hoping, always cautious

[redbed] 03/1/2025 17:36

#gkp #gkptakeoverHas 2 brokers putting the price where they want, because they are armed, and can plant but not execute large orders that controls where the share price isGenel defencelessSo one is getting trashed pre the good news....

[shortsqueezer] 03/1/2025 17:02

Hope nobody is out over the weekend ! :-)

[shortsqueezer] 03/1/2025 17:01

Wow! Down 13.16 percent now ! Crazy!

[shortsqueezer] 03/1/2025 17:00

Nice one Ozz

[ozzmosiz] 03/1/2025 16:49

I was one of them , sold a load I bought earlier at just a tad over 72p, but didn't expect it to drop that quickly

[shortsqueezer] 03/1/2025 16:42

Overshot yesterday. Traders switching back to us?