http://www.gulfkeystone.com/ The firms exploration programme in Algeria is going well and "the shares look good value", say the Investors Chronicle. Your comments please. goal.

In GKP and XEL....but not CHAR...

From newspaper tips,

DAILY EXPRESS

Gulf Keystone Petroleum boosted by Hunt Oil bid talk

cyril

that was 2/3 days ago by the way

GKP..is the one for me.

and while you have all been mesmerised by RKH and similar, GKP has made a charge up the rails on double normal volume - more still by the close
nothing out on bloomberg or reuters, but i just wonder if this is the long-awaited bid

A bid at 110p cynic.

no idea
where did your price come from, or was it just "finger in the air", so to speak?

a guess.

Does anyone know what's happening - GKP up 16%, HOIL up 5.9%, and SEY up 1.9% on small volume ?
Perhaps there will be / or is, some news somewhere ?

hoil is on the back of imminent approval of their sale by ugandan gov't
gkp - see above
sey - why on earth would you be excited by a rise of 1.9%???

seemingly nothing like as exciting as we hoped .....

Shares in Gulf Keystone rise 18 percent, making the oil explorer one of London's top risers, on positive sentiment after Iraq approves a Kurdish oil exports deal which could allow oil exports to resume from the semi-autonomous region.
"The agreement shouldn't really do much to Gulf Keystone because they don't plan on exporting this year but it would help to derisk the country," says Richard Nolan at Daniel Stewart.

Analysts also believe the prospect of fundraising is helping to boost shares.
"These guys have to be talking to people," Nolan says, noting that the company needs to raise around $100 million to cover the costs of future drilling.

Thanks cynic where did you read this from ? Which website ?
I check Kurdistan R Gov. web site regularly, but nothing is mentioned there
I am pleased to see SEY up 1.9% and am not yet too old to "get excited".
But as you say it does take more than 1.9% to get excited, now that I am 65. When I was 21 however I would usually get excited at 36 23 36 %

it's from Reuters which i pick up from my IG site
wow! you're even a tad older than me; i thought all other dinosaurs were extinct

Hey, watch it! ;o)

Thats a big dilution, about 30%, and only managed to get 75p.

Looks to be why Mirabaud have been anti-Falklands if they have been gathering people to buy into this placing..... perhaps ;)

Wonder how many of the new shares will be now dumped for a quick 10% or 20% profit ?

Great up side to come and not too long to wait for proven amounts of black stuff. Another chance to top up in my view when sp drops.

Not a bad sp (75p) to get 165 million pounds.....the sp should start to rise soon....as this should be a base....markets terrible at the moment so a little patience needed...

"Gulf Keystone Petroleum Ltd. announces that it has today completed a fully subscribed placing of 152,300,000 new common shares of $0.01 at a placing price of 75p per share, raising gross proceeds of approximately $165 million (114.2 million). These shares were placed by Mirabaud Securities, Renaissance Capital, Fox-Davies Capital Limited and Madison Williams and Company with existing and new institutional shareholders. The net proceeds will be used to progress the remainder of its 2010 and early 2011 work programmes after receiving positive results from the early stages of its drilling campaigns in Kurdistan.

The proceeds raised will be used primarily to progress the three Shaikan appraisal wells, the Shaikan-1 extended well test and production facilities, Sheikh Adi exploration well and the acquisition of further 3D seismic data over Shaikan and Sheikh Adi licences. The funds raised will also be used for any future increase in GKP's interests in Kurdistan assets.

Application has been made for the Placing Shares to be admitted to trading on AIM with dealing expected to commence on 28 May 2010.

Following the Placing there will be 672,185,122 common shares of $0.01 in issue."

rf, 165m dollars, not pounds.

75p discount placing and a 30% dilution, it says a lot about what people value the assets.

Will be plenty of people taking a 5% to 10% profit and doing a runner, as can be seen already by the strong selling so far.

Easy money for the people involved in the placing.

High political risk, license issues and other things all stack up, which is why the big discount and why people selling now whilst it remains above 75p and they can lock some easy profits in.

I call it an excellent fund raising exercise....risky area it is...but the amounts of oil in the ground are simply staggering !...