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.

texas keystone weighing in at 5% - LOL
good old ainsworth - have to hand it to him - he must be a kerrrrrrchinnngggg man too lol!

http://www.zawya.com/story.cfm/sidZW20110217000148


Iraqi PM Says Misquoted On Kurdish Oil Deals With Foreign Firms

Thursday, Feb 17, 2011

(MORE TO FOLLOW) Dow Jones Newswires

Iraqi PM Says Misquoted On Kurdish Oil Deals With Foreign Firms

BAGHDAD (Dow Jones)--Iraqi Prime Minister Nouri al-Maliki said Thursday that he was misquoted as saying that the central government in Baghdad would honor production-sharing deals signed by the semi-autonomous region in Iraq's Kurdistan with foreign firms.

On Feb. 5, Maliki was quoted by the AFP news agency as saying that his government would respect scores of production-sharing contracts that the Kurdistan Regional Government, or KRG, signed with international companies.

"What I said was that we have agreed (with the KRG) that all produced oil (from the Kurdistan region) would be exported via Iraqi pipelines and in return for that the central government will pay back costs incurred by operating companies," Maliki said at a news conference carried live by the state-run Iraqiya television.

"If there is something else related to the legality (of these deals), this is something else," he added.

Baghdad and the KRG are at loggerheads over scores of deals signed by the Kurds with international oil companies. The central government says that these deals are null and void because they weren't approved by it, while the Kurds argue that they are in line with the new constitution.

- By Hassan Hafidh; Dow Jones Newswires; +962 799 831 831; hassan.hafidh@dowjones.com

don't tell me; never trust a raghead!

The bigger problem now is that the Kurds might withdraw their support for the government, resulting in its collapse and then the need for the long drawn out process of new elections again.

That would see the likes of GKP back down to 60p to 70p levels as it was before the elections..... a very real element of risk now, and just ahead of tax year end selling as well.

The risk of capitulation down to sub 100p levels is strong IMV if it looks likely the Kurds will withdraw support. Interesting times ahead on GKP and other Kurdistan focused stocks

cynic - lol 1537 of 1538 - careful you'll have the do gooding pc brigade after you - now where has me tea towel gone!! lol

i did lose touch a bit with gkp in last few months - how is the supply of oil on the domestic front going - seem to remember this being locked into the deal with krg at a lesser pay back pb? the politicals as ever dragging on ref Kurds et cetera - always a question mark over the validity of the deals with central gov. - nearly time to get back in me thinks - but this is why imo gkp although on the radar for a t/o with the majors including sinopec - but nothing happening yet till gov. situation sorted at the very least
good old tribal wars!!

And now protests and protesters getting killed in Kurdistan - yet more turmoil to add into the mix, change in the rulers of Kurdistan could really throw the "null and void" oil contracts into the bin as Iraq, whose oil it is, claims they are null and void anyway, and if the people and parties who signed them are gone - whole new ball game. Risk level rises, even higher.

http://ipsnews.net/news.asp?idnews=54521

http://www.cnn.com/2011/WORLD/meast/02/17/iraq.protests/index.html

.

Is someone sold or gone short recently?
The tactics of the ROTTEN B@STARD are here for all to see >>>>>>>>


Proselenes - 17 Feb 2011 16:49 - 1538 of 1541
The risk of capitulation down to sub 100p levels is strong

I nearly fell for it and sold some but held off and glad I did...

just because someone posts X, it doesn't mean you have to follow like sheep ...... in all investment decisions, you work within your own risk parameters and similar, (dis)regarding opinion and advice as the spirit takes ..... i often disagree with some of the views expressed, and though some may take umbrage (very stupid), it does not make that opinion invalid

with specific regard to GKP ..... like many oilies, it is based in an unstable area of the world and will always be subject to a degree of volatility depending on the prevailing political climate ..... my view here is that iraq needs oil revenues very badly, so though there is a long history of enmity with the kurds, and there will be much sabre ratttling, eventually a workable solution will be reached and implemented

quite right but it sows a seed of doubt and makes one unsure.,.

It's the one part of the world where smallish western companies are very welcome and massive oil and gas discoveries abound !......

Goodness gracious me not for breakfast time

Maybe you should go there and knowing your luck jackpot for "money am" posters.


Proselenes - 18 Feb 2011 04:40 - 1541 of 1546
And now protests and protesters getting killed in Kurdistan

shorting is not a crime of any kind, though it can sometimes be rash

Something's not right here.

think i agree, sold half monday.,.

yeeeeeeeeeeeeehaaaaaaaaaaaaaaaaaa

topped up - absoulute bargain


LOL

iraq desperately need at least 2 things - cash & oil - coupled with western hi technology to retrieve it - the main feature today are auto sells / stop losses triggered - if you have sold higher recently i would seriously consider buying back in imo

gla

Part from oil barrel: Must keep eye on news for march:

Investors are very keen to learn more about the deeper levels and will be watching the progress of Shaikan-2, a deep appraisal well some 9 km east of Shaikan-1, with keen interest. The well is currently below 1,210 metres and the company has been trying a new tactic to deal with the difficult Cretaceous zone, which, as Gerstenlauer told delegates at Januarys Oilbarrel.com conference, is basically a rubble zone. The companys consultants, Dynamic Global Advisers of Houston, reckon there could be an additional 1 to 5 billion barrels in the Triassic. A second deep appraisal well, Shaikan-4, some 6 km west of Shaikan-1, is expected to spud by the end of March. It is targeted to drill the Jurassic and Triassic age formations and possibly the top of the Permian.

In addition to all the activity at Shaikan, Gulf Keystone also has an 80 per cent interest in the Sheikh Adi block, where the SA-1 well is now drilling ahead having battled hole collapse. At the time of the last update, the well was at the bottom of the troublesome Cretaceous interval after side tracking around a section of the bottomhole assembly that had become stuck in the open hole. It will then drill into the top of the Jurassic, the first of the primary exploration targets for this well.

The AIM company also has a 40 per cent interest in the Genel-operated Ber Bahr block, which is the biggest single structure of all the blocks with an upside case of 20 billion barrels, and a 20 per cent interest in the MOL-operated Akri Bijeel block. On the latter project, the partners have already made one discovery, Bijeel-1, which flowed 3,200 bpd of 18-degree API oil and is reckoned to hold P50 reserves of 2.4 billion barrels. A second well here, Bekhme-1, targeting a Jurassic prospect with a TD of 2,900 metres, is due to spud by mid-March.

All this ensures plenty of high impact newsflow over the next 12 months. But despite the heady excitement about the billions of barrels lying in Gulf Keystones acreage, there remain serious questions to be answered about the political situation in Kurdistan. In January, Gerstenlauer sought to put a positive spin on the situation, saying the political and legislative uncertainty was holding off an expected wave of consolidation among the companies operating in Kurdistan, giving the AIM company time to prove up as much oil as possible to avoid being bought out cheaply. This makes sense to investors, for now. But fast forward a year, and investors will be increasingly twitchy if there is no obvious solution for moving the billions of barrels of Shaikan crude to market.

Something's has gone really wrong.