Waiting for Godot28 Dec 2023 15:39
Owning GKP stock is like being in purgatory.
When will the Iraq-Turkey pipeline reopen? When will the KRG pay the company what they owe for past deliveries? And what will GKP be like after this palaver is over?
I loved this stock back in the day for her regular dividends, super-charged dividend yields and low valuation multiples. But the reasons for this are now crystal clear - this will always be a hyper high-risk stock for as long as they operate in this geography alone.
Kudos to management for steadying the ship in recent months. Local sales and cost-cutting have kept the team in place and the cash balance at safe levels. Things could have been so much worse without sensible on-the-ground action.
I'm holding GKP until we get some material good news. Then I'll probably reallocate some funds to AET & ENQ.