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Found 1 result

  1. If you look at the oil companies that are based out of Kurdistan they are some of the most undervalued stocks in the world right now. You can buy shares in Gulf Keystone Petroleum which has one of the largest onshore oil developments in the world for only 7 cents a share. Western Zagros (WZGRF) can be bought for only 5 cents and it sits on a production field with reserves of 2 billion barrels of oil. Range Energy (RGOZF) can be bought for 2 cents, Oryx petroleum (TSE:OXC) 50 cents, DNO (DTNOF) 70 cents, and Genel Energy (GEGYY) which was once a $20 stock can be bought for a dollar. Genel Energy has fields that are producing oil for 1 dollar a barrel. The share price of these companies has been beaten down by non-payment by the KRG, the complete collapse in the price of oil and the fear of ISIS looming over investors. These oil companies are currently at the brink, bond holders are looking at payments, debt has piled up, employees are not getting paid, etc. Once the 2 billion loan is paid out to the KRG from the IMF and these companies are paid the hundreds of millions of dollars that they are owed their share price is going to skyrocket like nothing seen before possibly hundreds or thousands of percent. Once Mosul is taken we will see another moonshot in share price and of course when the oil price finally recovers which is expected by the end of this year. Returns of 1000's of percent will be noticed by Wall Street and this is going to be the catalyst before anything happens to the value of the dinar or the value of the ISX. It will begin with these oil companies share prices to gain the interest of investors first. Then you will see the ISX going international, the dinar begin to float, etc. All this information is my opinion and is not meant as a recommendation to invest, due your own diligence. In full disclosure I own all of the companies listed above and listed my sources below. http://www.sweetplatform.com/wzgrf/westernzagros-resources-buying-22-billion-barrels-of-oil-for-56-million The firm holds two production sharing contracts in the Kurdistan region of Iraq. It owns 2.2 billion barrels of oil equivalent of prospective resources. Clearly, it is huge http://www.gulfkeystone.com/media/95087/GKP_SmartPDF_AR15-spreads-1-.pdf Page 38."The Shaikan block is situated about 85 km north-west of Erbil covering an area of 283 km², it is one of the largest onshore developments in the world today" http://oilprice.com/Energy/Energy-General/Genel-Producing-Oil-For-1-Barrel-Investors-Still-Cautious.html In the oil patch today, it is indeed the survival of the fittest. So when one of the largest producers in Iraqi Kurdistan, Genel Energy Plc, comes out swinging with production costs as low as $1 per barrel, it inspires a new confidence that may or may not be sustainable given the regional security threats and the difficulties producers are having getting paid for their oil. Still, it’s an impressive number that renders Kurdistan one of the cheapest oil venues on the planet.
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