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KENOL/KOBIL
Rank: Chief Joined: 1/3/2007 Posts: 18,261 Location: Nairobi
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@BGL - The others OMCs are waiting to see what happens... Coz if KK wins, the others will piggyback on KK... Your comments remind me of those who told us that 'keep quiet lest we are targetted' during the moi era... Sure, he effed us until we lost two decades! kenyatta did the same when folks kept quiet out of fear... Corruption & impunity was entrenched... We are still paying for it... @sparkly - I am suspicious that nyoike always defends the shady OMCs like Triton & now Gulf Energy... I mean we all know how Triton turned out... The losers are KCB & KPC (The taxpayer aka VVS lost out huge)... Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 1/16/2010 Posts: 672 Location: nairobi
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@ VVS .... from this discussion i find that we are here for different reasons....some of us want to make money ASAP....they forget the very wise advice for investors...buy when there is blood in the streets....case in point...BP PLC... I tend to conclude it this way.....since it cant make sense to some 'investors here'....even if you were to screw their heads.....lets buy the company simply because we like it and forget the arguement....at the end of it all sisi ndio tutatengeneza pesa.... @ Horton....talking of the margin of safety....i hope it is not just another term you have come across....
so what is the NCAV for kk???....
are you buying unga???i agree with you on carbacid and am also buying BOC deals with oxygen just like carbacid deals with CO2....only that the market for O2 is not as big as CO2...BOC has some management problems and thus its poor performance.....cant touch this.. God gave me the power to make wealth ... Blessed the work of my hands & enabled be A SELF MADE BILLIONAIRE ...... TO GOD THE FATHER OF MY LORD JESUS CHRIST; BE THE GLORY NOW & FOREVER MORE!
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Rank: Chief Joined: 1/3/2007 Posts: 18,261 Location: Nairobi
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@mjuaji - If KK were to double tomorrow... I would sell... LOL... Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 1/16/2010 Posts: 672 Location: nairobi
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VVS....of course ....me too....that is what investment is all about....making money....ask buffet unless he has a plan of acquiring the whole company......talk of mr market and the greater fool theory!!  What i am saying is ... i cant accept scare mongering when i bliv in the fundamentals of the company.....i buy like nonsense....did you get your WTK dividend cheque?....mimi bado.! God gave me the power to make wealth ... Blessed the work of my hands & enabled be A SELF MADE BILLIONAIRE ...... TO GOD THE FATHER OF MY LORD JESUS CHRIST; BE THE GLORY NOW & FOREVER MORE!
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Rank: Chief Joined: 1/3/2007 Posts: 18,261 Location: Nairobi
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WTK - bado but they did indicate there would be a 'delay' solely based on the cash position. Apparently, they are too busy buying leaf from outgrowers! Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 6/29/2006 Posts: 184
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Rank: Member Joined: 1/16/2010 Posts: 672 Location: nairobi
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@ Segman et al...kaa ngumu!! Wacha tuone...why are this pundits ignoring kk's complains?? kwani sheria is one sided??? May the law catch up with them... God gave me the power to make wealth ... Blessed the work of my hands & enabled be A SELF MADE BILLIONAIRE ...... TO GOD THE FATHER OF MY LORD JESUS CHRIST; BE THE GLORY NOW & FOREVER MORE!
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Rank: Member Joined: 2/20/2007 Posts: 359
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mjuaji wa stocks wrote:@ Segman et al...kaa ngumu!!
Wacha tuone...why are this pundits ignoring kk's complains?? kwani sheria is one sided???
May the law catch up with them... I don't know how the others view it, but the problem with KK is their approach... I wonder, why they could not pay the 500M, put that behind them and concentrate on their lawsuit for loss of biz earnings in the billions. The 500m non-payment was sure to cause regulatory problems! In the law of contract, you are better placed if you meet all your obligations under it then sue for breach with clean hands. But meeting your licensing conditions is not something you mess with.
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Rank: Elder Joined: 5/27/2008 Posts: 3,760
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To take a line from the release above, "Today, 6th September 2010, at 13.00 p.m. we effected service of the Order and Pleadings upon KPRL MD, Mr. Raj Varma in his office on Chiromo Road, Westlands, Nairobi." So didn't they ask us to accompany them to Chiromo chanting 'Haki yetu' @slykat, I had proposed that they deposit the cash in court a while back, but obviously Segman doesn't read wazua.....
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Rank: Chief Joined: 1/3/2007 Posts: 18,261 Location: Nairobi
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slykat wrote:I wonder, why they could not pay the 500M, put that behind them and concentrate on their lawsuit for loss of biz earnings in the billions Coz it might indicate to the court that they should pay the amount. If anything, KK should give it to the court as a 'deposit' pending the outcome but KPRL refuses to go to court or use an arbitrator per the Agreement. KPRL is using nyoike as an enforcer.slykat wrote:The 500m non-payment was sure to cause regulatory problems! In the law of contract, you are better placed if you meet all your obligations under it then sue for breach with clean hands. But meeting your licensing conditions is not something you mess with. KK is claiming NOT to have any rules/regulations. They have been accused of it but KK denies it.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Chief Joined: 1/3/2007 Posts: 18,261 Location: Nairobi
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Gordon Gekko wrote:To take a line from the release above, "Today, 6th September 2010, at 13.00 p.m. we effected service of the Order and Pleadings upon KPRL MD, Mr. Raj Varma in his office on Chiromo Road, Westlands, Nairobi." So didn't they ask us to accompany them to Chiromo chanting 'Haki yetu' @slykat, I had proposed that they deposit the cash in court a while back, but obviously Segman doesn't read wazua..... There must be a reason why they have not done so. I will venture the Court in Kenya washed their hands off saying the Arbitration should be done under English Law. I am sure KK would not mind depositing the cash/bond if so required but it has to be allowed to do so. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 2/20/2007 Posts: 359
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VituVingiSana wrote:Gordon Gekko wrote:To take a line from the release above, "Today, 6th September 2010, at 13.00 p.m. we effected service of the Order and Pleadings upon KPRL MD, Mr. Raj Varma in his office on Chiromo Road, Westlands, Nairobi." So didn't they ask us to accompany them to Chiromo chanting 'Haki yetu' @slykat, I had proposed that they deposit the cash in court a while back, but obviously Segman doesn't read wazua..... There must be a reason why they have not done so. I will venture the Court in Kenya washed their hands off saying the Arbitration should be done under English Law. I am sure KK would not mind depositing the cash/bond if so required but it has to be allowed to do so. What am saying is that KK needs to split hairs and distinguish between contractual and regulatory requirements. To meet regulatory requirements they could have paid so their crude could be processed, thus they would be "more entitled" to seek compelling orders for non-processing. The dispute at the arbitrators will still be purely contractual and will take long, leaving the regulatory issue intact in local courts. The regulatory requirements take precedent!
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Rank: Chief Joined: 1/3/2007 Posts: 18,261 Location: Nairobi
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slykat wrote:VituVingiSana wrote:Gordon Gekko wrote:To take a line from the release above, "Today, 6th September 2010, at 13.00 p.m. we effected service of the Order and Pleadings upon KPRL MD, Mr. Raj Varma in his office on Chiromo Road, Westlands, Nairobi." So didn't they ask us to accompany them to Chiromo chanting 'Haki yetu' @slykat, I had proposed that they deposit the cash in court a while back, but obviously Segman doesn't read wazua..... There must be a reason why they have not done so. I will venture the Court in Kenya washed their hands off saying the Arbitration should be done under English Law. I am sure KK would not mind depositing the cash/bond if so required but it has to be allowed to do so. What am saying is that KK needs to split hairs and distinguish between contractual and regulatory requirements. To meet regulatory requirements they could have paid so their crude could be processed, thus they would be "more entitled" to seek compelling orders for non-processing. The dispute at the arbitrators will still be purely contractual and will take long, leaving the regulatory issue intact in local courts. The regulatory requirements take precedent! Ahhh... therein lies the rub! KK says that KPRL is bound law/regulations to process the crude but have refused to do so thus KPRL not KK are breaking BOTH the contractual & regulatory requirements. KK has said that it will ask the Kenyan courts to compel ERC to punish KPRL for not processing the crude. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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Menwhile, the downtrend on the KK stock continues. GOD BLESS YOUR LIFE
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Rank: Chief Joined: 1/3/2007 Posts: 18,261 Location: Nairobi
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youcan'tstopusnow wrote:Menwhile, the downtrend on the KK stock continues. I like it.. a lot... coz I am a net buyer! I wish I had more cash on hand!!! Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Veteran Joined: 10/11/2009 Posts: 1,223
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Sorry for this...but! If i have to borrow from my 4-page work contract, which has 32-page annex consisting of explanations of the legal jargon, my rights, my obligations, intellectual properties etc etc. It is also important to point out that, it also recognizes that disagreements MAY occur during the course of the contract in which case the law applicable will be of ( xyz) country and the proceedings will be in a language which i understand or translation will be provided for in case the proceedings are in a foreign language. ends I can not wake up one morning and say that i want the law of Tanzania or Malawi to be applied!!! What if KPRL has such a clause in its contract with its clients? History will not remember you for your IQ. It will remember you for what you did. “Genius is 1 percent inspiration, 99 percent perspiration.” Thomas Edison
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Rank: Veteran Joined: 6/17/2009 Posts: 1,622
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@BGL,i believe it had.And that is exactly the route KK has taken following Justice Koome's ruling.
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Rank: Member Joined: 2/20/2007 Posts: 359
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[/quote] Ahhh... therein lies the rub! KK says that KPRL is bound law/regulations to process the crude but have refused to do so thus KPRL not KK are breaking BOTH the contractual & regulatory requirements. KK has said that it will ask the Kenyan courts to compel ERC to punish KPRL for not processing the crude. [/quote]
I disagree. KPRL does not process crude for free. There is a contractual duty to pay for the processing, otherwise they can refuse on the basis of non-payment.
The ERC licensing condition to process 50% is on KK to comply with, not KPRL.
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Rank: Chief Joined: 1/3/2007 Posts: 18,261 Location: Nairobi
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cnn wrote:@BGL,i believe it had.And that is exactly the route KK has taken following Justice Koome's ruling. @BGL - I have no idea why The English Arbitration was chosen in the original contract but I will speculate that Kenyan arbitrators at the time were not familiar with the issues regarding such matters. If I understand it, KK went to a Kenyan court but was told (by Justice Koome) that the Kenya Court has no jurisdiction on the matter & to follow the Contract & go for an English Arbitrator... Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Chief Joined: 1/3/2007 Posts: 18,261 Location: Nairobi
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Ahhh... therein lies the rub! KK says that KPRL is bound law/regulations to process the crude but have refused to do so thus KPRL not KK are breaking BOTH the contractual & regulatory requirements. KK has said that it will ask the Kenyan courts to compel ERC to punish KPRL for not processing the crude. [/quote] I disagree. KPRL does not process crude for free. There is a contractual duty to pay for the processing, otherwise they can refuse on the basis of non-payment.
The ERC licensing condition to process 50% is on KK to comply with, not KPRL. [/quote] KK has NOT refused to pay the CONTRACTUAL fee. It has being doing so thus saying " KPRL does not process crude for free" is not relevant. What KK has protested is the ADDITIONAL (Increased) charges levied without due consultation. Also KK has in principle agreed to pay more IF the efficiency of KPRL is enhanced to international standards. That fool who eats 2,500/- lunches at Serena wants me to pay 2,000/- from 320/- WITHOUT giving or guaranteeing me better service! Same story with KPRL & KK... Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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