Gulf Keystone Petroleum Forum

Thoughts?

Kurdish region’s oil export to Turkey halted: ministry Baghdad: Iraqi oil ministry stated that the oil export of the northern autonomous Kurdistan region to Turkey has fully stopped. According to al-Taghir TV, the ministry’s Spokesman, Asim Jihad, said in a statement that Kurdistan Region’s oil export to Turkey has been fully halted as the region did not stay with its deals with the central government in Baghdad and has not send the agreed oil it promised to Baghdad. He added that Iraq’s oil export has decreased immensely due to weather difficulties, adding that all October exports have been sent through Iraqi southern ports. kurdpress.ir | Ekurd.net

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Great news ....... no point in having money in the bank and not paying your debts. Having monitored this board and several others for the past six months I'm slightly surprised the directors of a company have actually done the right thing for a change.

Two export routes: trucking and pipeline (currently 100%)

Assume Ceyhan netted back price at Shaikan based on Brent less quality discount for Kirkuk blend, less pipeline, throughput, and trucking costs

My bet is RNS before today and lunch tomorrow hence the team have something juicy to talk about over lunch

The RNS on the 15th was quite forthright in highlighting the balance as being under the $50 mil mark with the months operational costs to add on. With that knowledge there has to be another option on the table or we would have had a placement scramble already. Reliable partnerships is still a very real prospect

The local sales were sidelined when all oil was redirected to fiskharbour. Something more significant is in the pipeline and I don't think it is a placement as this would have been tabled by now. Time will tell so let's hope JF and Co pull a rabbit or two from the hat prior to Friday..