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.

i'll read stuff here from posters whose opinion i rate by experience .... as i know none from other BBs, and also know the well-deserved reputation of many such sites, i find i have better things to do - btw, there are 4/5 posters mentioned in the above ramble, so you take your pick as to which if any know what the hell they are talking about

over and above that, those who claim to have the inside leg measurement of the CEO's PA, or even to have the CEO's ear are guaranteed to be talking from their fundament

You cynic, cynic!!

In the headlines today :

Gulf Keystone Petroleum started with sell rating at Goldman Sachs

No GKP RNS?
cyril

Surprize---- MOL MOL MOL

http://www.bse.hu/topmenu/issuers/issuersnews/105473481.html
Testing of Bijell-1 well in Akri-Bijeel block in the Kurdistan Region of Iraq successfully closed
MOL Hungarian Oil and Gas Plc. hereby informs the capital market participants that it has finished the
testing of the first well, Bijell-1 in Akri-Bijeel Block in the Kurdistan Region of Iraq. The cased hole test
performed in the depth of 3,804 3,967 m from Jurassic formations produced 2,700 bbl/d 12-13 API
oil through 40/64 choke. Earlier, the Bijell-1 well produced during an open hole test 3,200 bbl/d 18
API oil and 933,000 scf/d (150 boe/d) gas through 48/64 choke from interval 3,646 3,831 m,
Jurassic formations. Finally, a joint cased hole test was performed for the above two intervals (3,729
3,967 m) as well, with a result of 3,743 bbl/d 13 API oil and 618,826 scf/d (99 boe/d) gas through
48/64 choke.
Based on the above mentioned results, MOLs fully owned subsidiary, Kalegran Ltd. as operator of the
block, has notified the Ministry of Natural Resources of the Kurdistan Regional Government of Iraq
confirming the presumed existence of the discovery. The testing results have proven the validity of our
geological model providing a solid basis for planning the appraisal program for this formation. The
exploration of the block entered automatically into the second subperiod of the initial exploration phase
in November 2010, where during the next two years, as a consequence of the results obtained from
Bijeel 1 well, we implement an appraisal program and also continue the exploration of the block
potential with appropriate capex investment.

Goldman Sachs ratings on a few companies out today.



BUYS

Rockhopper started with buy rating at Goldman Sachs
Nautical Petroleum initiated with buy rating at Goldman Sachs
Northern Petroleum started with buy rating at Goldman Sachs
Nighthawk Energy started with buy rating at Goldman Sachs
BowLeven initiated with buy rating at Goldman Sachs
Desire Petroleum initiated with buy rating at Goldman Sachs
Borders & Southern initiated with buy rating at Goldman Sachs
Falkland Oil & Gas initiated with buy rating at Goldman Sachs


------------

NEUTRALS

Tullow Oil downgraded to neutral from buy at Goldman Sachs
Sterling Energy initiated with neutral rating at Goldman Sachs
Valiant Petroleum initiated with neutral rating at Goldman Sachs
Max Petroleum initiated with neutral rating at Goldman Sachs
EnQuest initiated with neutral rating at Goldman Sachs
Tower Resources initiated with neutral rating at Goldman Sachs
Dominon Petroleum started with neutral rating at Goldman Sachs
Cove Energy started with neutral rating at Goldman Sachs
Faroe Petroleum initiated with neutral rating at Goldman Sachs
Melrose Resources initiated with neutral rating at Goldman Sachs

------------

SELLS

Gulf Keystone Petroleum started with sell rating at Goldman Sachs
Encore Oil started with sell rating at Goldman Sachs

Proselenes...at times you are ridiculous trying to deride things....remember when this was 65p...?...hmmmm...

Can't understand why no News released by GKP,they are after all partners?
cyril

i like the fact that goldman is covering gkp. usually when they say "sell" you will be selling and they will be buying.

StockMarketWire.com
Gulf Keystone says it holds a 20% working interest in the Bijeel-1 discovery well which has been successfully tested by MOL Hungarian Oil & Gas.

The cased hole test, performed at a depth of 3,804 - 3,967 meters in the Jurassic formations, produced 2,700 barrels per day (bbl/d) of 12-13 API oil through a 40/64 inch choke.

Gulf says that the results supports its belief that the Bijeel-1 well is the possible southern flank of the potentially significant Bekhme structure.

COO John Gerstenlauer, Chief Operating Officer adds:"Today's announcement by MOL brings the testing of the Bijeel-1 well to a successful conclusion and highlights the clear potential of the Akri Bijeel block, in which Gulf Keystone holds a 20% stake.

"In addition to this further positive exploration development, we are pleased that the Weatherford 842 drilling rig will now be able to be moved to the nearby Shaikan-2 location, as part of the ongoing Shaikan appraisal programme."

Heavy oil !

Thats the problem. By the time a production license is rubber stamped and everyone and their dog takes a cut there is little left to make a profit with, especially if the oil is heavy.

Unlike say XEL who have heavy oil but also have excellent tax incentives from the government and the ability due to that to turn a very good profit, Iraq is a different kettle of fish and its going to be difficult to turn a decent profit per barrel, what do you think ?

1 US$ per barrel profit ? Maybe 2 ? If it ever gets sorted ?

Haven't paniced here as Pro would have liked, sp seems to be holding up ok, maybe on the back of new drilling at Shaiken2 prospect......imo

Comment from Goldman Sachs today :

Gulf Keystone (GKP.L): Vast volume potential already in the price; Sell

Upgrades to reserves estimates at the companys Shaikan field in Kurdistan as the oil water contact is sought are a distinct possibility in our view. We believe, however, that the share price is reflecting a positive outcome to such a revision fairly aggressively. We give the company credit for over 1.6 bn net, risked barrels of reserves in Shaikan (prior to political risking for Kurdistan) on a net basis after accounting for the KRG back-in ahead of the P10 case assuming a 30% recovery rate. We believe that the potentially huge size of Shaikan could be of interest to strategic buyers (i.e. NOCs) and therefore see the potential for M&A involving the stock. Offsetting these potential attractions, however, is our more bearish view on Kurdistan relative to the market and relative to other regions as a result of the uncertainty surrounding exports and the licences granted by the KRG; we typically apply an additional 50% discount to the valuation of barrels in the region to account for this uncertainty.

Therefore despite the volumes we attribute to the stock and the M&A potential we include in our valuation, we continue to see more attractive upside in other stocks in our coverage universe. We also believe that Heritage offers a less expensive way in which to gain exposure to Kurdistan and therefore initiate coverage of Gulf Keystone with a Sell rating and a 12-month price target of 160p.

.

We will see.,.

Told myself take profits if dips into the 80's so have done so at 189p cynic will be pleased.,.

am stranded at h'row at the moment, so have not been that attentive ..... well done; go to the top of the class

Borrowed from the other side:

David Brent - 8 Nov'10 - 14:20 - 56163 of 56346


(CBS/AP) Leaders of Iraq's main political blocs met briefly Monday in the northern city of Irbil in a rare face-to-face gathering that failed to produce a new government and highlighted the many issues that still divide them.

All of the attendants emphasized that the opening session of what was described as a three-day meeting was a positive development for the gridlocked negotiating process, but that a new government was still far away.

After the roughly 90-minute, nationally televised meeting concluded, the political leaders agreed to meet again in Baghdad the following day. It was not immediately clear if the politicians would continue their talks privately late Monday in the Kurdish city of Irbil.

Massoud Barzani, president of the Kurdish Autonomous Region in northern Iraq, lobbied for the meeting to be held in Irbil, seat of the Kurdish government. He opened Monday's gathering with a call to Iraqi politicians to work together.

"It is a historic moment with deep meaning to meet together to discuss and agree on the country's future and to develop it in a way that meets the ambitions of the Iraqi people," he said.

The meeting was a who's who of the Iraqi political scene and the first time all the main political leaders have met since the March 7 election.

Even as the preliminary meetings took place, new violence highlighted the challenges that the country faces.
 
Police and hospital officials say a car bomb went off not far from one of Shiite Islam's holiest sites in the city of Najaf, killing seven people.

Officials say the blast went off about 500 yards from the shrine of Imam Ali, one of the most revered Shiite saints. Two Iranian pilgrims were among those killed.

The blast came hours after a car bombing in Karbala, another holy Shiite city south of Baghdad, also killed seven people.

Police and hospital officials said that six of the seven victims were Iranian pilgrims and that at least 35 others were wounded in the blast, including Iranian and Pakistani nationals.

The car bomb exploded at a parking lot in central Karbala that is used by pilgrims traveling between Iraq's holy sites. Such parking lots have often been targeted by Sunni militants unable to get close to the holy shrines due to beefed up security.

Among the crowd in the Irbil conference hall were current Prime Minister Nouri al-Maliki and the man who would like to take his job, Ayad Allawi.

Allawi heads the Sunni-backed Iraqiya coalition that won 91 seats in the parliament to al-Maliki's 89 seats. With neither side winning a majority in the 325-seat parliament, an eight-month period of intense political negotiations over the formation of a new government followed the March polls.

Al-Maliki described the meeting as a new push forward by the political blocs to reach an agreement.

"We need to open a new page and leave the past behind," he said.

But comments from many attendants indicated the difficulties involved in coming to an agreement between political parties that have in the past fought their battles on the streets and still view each other with deep suspicion.

Vice President Tareq al-Hashimi, a Sunni from the Iraqiya alliance, warned that negotiating committees who have been meeting for weeks before the Irbil summit had left many of the most contentious issues to the leaders to work out.

"Based on that, I do not think that the leaders will be able to solve these sticking issues because they need a lot of discussion and study," he said. "I do not know how the leaders, today and tomorrow, will be able to discuss this list of sensitive and strategic issues during this short period of time."

Hours before the political leaders met, seven pilgrims were killed in a car bomb blast in the holy Shiite city of Karbala, 50 miles (80 kilometers) south of the Iraqi capital.

Looks like the political news is beginning to have an effect,generally cinsidered to be holding back the SP?
cyril

There will not be peace in Iraq for at least another 20 years or more.

cyril, there is a problem with the licenses.

The political problem has been used as a smokescreen to cover up the problems with the licenses, and people may soon realise that the problem is with the licenses and it was all smoke and mirrors talking about the politics.

imo.