mem73
24 Feb 2017
Barclays cut target price from 350p to 130p Dramatic cut in price target from Barclays despite Gas progress and oil price firming.Taq Taq may have sunk GENL.With rapidly tumbling output more than off-setting improving oil price, I can't see them refinancing the bonds without a substantial asset sale. The only asset they can sell quickly is Tawke and only one buyer (DNO) who are not afraid to play hardball (viz. GKP).Sadly, I think this dream is over.
onewayticket
23 Feb 2017
Re: GPX o/t Good Evening Boyobach.Deep respect for your posting style as always.No ramp on GPX but I do look in here regularly and saw the thread. I think you all need just to be aware of a certain poster undignified posting style over there.Own due diligence.
oilinvestor85
22 Feb 2017
Re: GPX o/t Boyobach I couldn't agree more ! At least Genel has a revenue stream (even though payment is sometime late ).Genel has cash in the bank (400 mill). Genel has gas prospects that once they come on stream and get developed will make the oil production side seem like a part time hobby! On the other hand : - Gpx is strapped for cash! In fact they just mortgaged the whole shebang for £4 million. Their man asset is locked in the middle of a war field !They have just informed the marked that they plan to do an equity fund raise / dilution They are mired in legal and political disputes.Gpx is one for the gamblers and those who have a hobby of investing in soon to be bankrupt oilies! I wouldn't touch it with a barge pole! Hopefully one way ticket will stop ramping it here !
Boyobach
22 Feb 2017
GPX o/t Each to their own: there's been quite enough risk and lack of reward right here, thanks
oilinvestor85
22 Feb 2017
Re: Rosneft - KRG deal No problem one way ticket! I have dully responded to you on the desert storm 2.0 forum (GPX). I don't want to litter this one about a share that will soon go bust and run out of cash. Why did management of GPX mortgage the entire share capital of the company for £4 million ? I thought you mentioned it worth so much more ? I guess the sophisticated investors did their own DD and realised that block 26 in Syria is now being operated by ISIS and therefore not worth very much !
onewayticket
22 Feb 2017
Re: Rosneft - KRG deal oilinvestor.Its nice to have seen such a good samaratan appear on the GPX bulletin board out of the blue in the last few days and I am more than happy to spread my responses across bulletin boards.A couple of points though just to correct you: Firstly, I alone know exactly what I have invested and the price I have paid for any shares I hold in a large portfolio. I looked at the chart, liked the risk reward ratio and saw Block 26 as worth considerably more than the present market cap. I held prior to ever posting. The chart clearly shows the rebound potential if the future becomes more favourable.As a rational an patient investor in many shares, if peace gets established in Syria and UN sanctions get lifted those producing assets presently on care and maintenance will start pumping again. You don't need to be a rocket scientist to then work out that you'll see a lift off in the share price.Thanks though for giving me the opportunity to mention Gulfsands. Own due diligence as always.
oilinvestor85
22 Feb 2017
Re: Rosneft - KRG deal One way ticket but The problem is that you bought GULFSANDS GPX (Desert Storm 2.0) in January at the recent peak! So you are heavily under water. No wonder you feel the need to ramp it on this BB . You can't surly want to compare Genel and GPX? Genel has 400 million in cash where as gulf sands is resorting to mortgaging the company's shares for £4 million ! Genel are getting some revenues and are operating. They also have exploration assets in other regions where as gulf sands are locked out of their own fields due to the worst war in living memory ! There are too many skeletons in the gulf sands closet ! What will happen if they can't pay the mortgage when it comes due ? Will they remain listed ? Will they lose the assets ? Will they hand over the keys ?
onewayticket
22 Feb 2017
Re: Rosneft - KRG deal Yes that's correct oilinvestor85I'm glad I sold out of this one a long time back as its saved me a small fortune.After having done rather nicely out of Genel I had my suspicions on this one. What with inconsistencies of KRG payments firstly being the real off-puter. Then Tony Hayward selling up and placing his money into Glencore (and havind done very well). Then if I remember correctly came another Director sell and then after further trending down came a resource downgrade. The rumoured moving on also of Tony Hayward to pastures hardly inspires further confidence. One that is likely to remain in the doldrums for some time.I happen to think Russia, spearheading negotiations, is probably more likely to broker a deal for Syria and with Gulfsands benefiting. They did get actively involved with OPEC in securing a reduced output deal that increased share prices. If both though come along then quids in for all invested.Own due diligence
Boyobach
22 Feb 2017
Re: Rosneft - KRG deal Never?Not sure about that. There's a lot of factors affecting Genel - I wouldn't say the price of Brent is irrelevant.
Boyobach
22 Feb 2017
Crystal ball gazing From a chart pov it's easy to see that Genel's sp decline from the £10 halcyon days began in August 2014. Apart from a burst of optimism in the summer of 2015, the falling trend 'ceiling' from then has rarely been punctured. The sp is bumping against that line now and, in my view, it needs to break through to the £1 region if it is going to make any headway. If, as the CEO says, 2017 is to be 'transformational' then I think there's a lot hanging on how things progress over the next few weeks.
oilinvestor85
22 Feb 2017
Re: Rosneft - KRG deal As you know, genel never follows the oil price. When oil price goes up , genel shares go down.
Boyobach
21 Feb 2017
Re: Rosneft - KRG deal Price of Brent mainly, I reckon.
oilinvestor85
21 Feb 2017
Re: Rosneft - KRG deal Very good news... it might partially explain the 3.5% rise today !
Boyobach
21 Feb 2017
Rosneft - KRG deal Rosneft press release today:Rosneft and the Kurdistan Regional Government of Iraq signed a Cooperation Agreement in the fields of upstream, infrastructure, logistics and trading. The document was signed on the sidelines of the IP week conference in London.Pursuant to the Cooperation Agreement the parties signed a pre-financed Crude Oil Purchase and Sale Contract of Kurdistan Region Crude oil over the period 2017-2019. The purchaser of crude will be Rosneft’s trading arm – Rosneft Trading SA.Commenting on the deal Rosneft Chief executive officer Igor Sechin said: “We are delighted to be embarking on new activity together in the Kurdistan Region and look forward to developing new markets worldwide for Kurdish crude oil. The off-take and supply of Kurdish crude oil into Rosneft's expanding worldwide refining system will further contribute to the increase in its effectiveness”.His Excellency Minister of Natural Resources in the Kurdistan Regional Government of Iraq Dr. Ashti Hawrami stated that “This deal represents a new beginning in our relationship with Rosneft and opens up the possibility of a broader relationship in all fields of energy cooperation with Russian Oil company Rosneft within Kurdistan”.
foxon run
15 Feb 2017
back to normal back to normal service i see today we should be a lot higher in sp oh well
