required field
- 18 Mar 2011 08:13
- 1598 of 5505
Been buying more as of late...looks like it might be paying off.....I keep on saying it but Iraq (and this area of Kurdistan) should be one of the wealthiest countries in the world......let's hope it happens for them....
niceonecyril
- 18 Mar 2011 08:39
- 1599 of 5505
Gulf Keystone Petroleum (LON:GKP) (BUY, 2.00) (GKP, 123.5p, ▲ 1.02%)
reported a significant initial oil flow on the Shaikan-2 Appraisal Well in a 44m interval at a depth of 1,792-1,836m in the Jurassic age formation. Substantial smoke and/ or the oil flare is/ are visible from the Company's office in Erbil some considerable distance from the Shaikan-2 location, indicating that a significant flow has been encountered and prompting the Company to issue this announcement.
The Company is currently conducting a test, which is expected to continue for another 72 hours to obtain further results, i.e. flow rate, oil quality and similar information, which will be reported in the next announcement. Shaikan-2 is the first deep appraisal well to be drilled on the Shaikan structure. The well is drilling approximately 9km to the south-east of the Shaikan-1 discovery well.
Comment: This is excellent news for Gulf Keystone although we have to wait for more data in order to be in a position to make a more definitive assessment.
Despite Shaikan being a world-class discovery, a 9km outstep was never going to be a guaranteed success as the properties of fractured carbonate reservoirs can vary significantly. We are increasing our probability of success for the P50 case on Shaikan from 2/3 to 3/4 and raising our price target to 220p.
We remain strong buyers of the stock, which has been weak for no specific reasons recently.
http://www.stockopedia.co.uk/content/fox-davies-capital-update-featuring-paragon-group-orosur-mining-ascent-bowleven-gulf-keystone-petroleum-xcite-energy-54931/
niceonecyril
- 18 Mar 2011 09:42
- 1600 of 5505
Editor: CC | SS
Friday, 18 March 2011 07:35 GMT
The source pointed out that "Export of crude oil from fields in the Kurdistan Region is stable at 100 thousand barrels per day during the Current month of March, after the rate was 80 thousand, where the export from the field Tauki An average of 55 thousand and 40 thousand barrels of Taq Taq field. "
The Ministry of natural resources in the Kurdistan Regional Government of Iraq, beginning Current month of March, the high export of crude oil from fields in the region to 100 thousand barrels Per day, while references to plans to double exports end of the year 2011 to the current 200 thousand to one million barrels per
niceonecyril
- 18 Mar 2011 09:47
- 1601 of 5505
Post from rhe well respected Zengas,
Maybe some looking at the RNS in the wrong context.
What if the size of the flare/smoke is truly substantial - their word being substantial !
If you recall that many months ago and possibly not remembered by many on here - was that they thought this could be as big as, or another Kirkuk.
Remember when Baba Gurgur was discovered it gushed and lit up the place for miles.
Perhaps the flames/smoke are significant and that it really could be a more unusual sight than normal.
niceonecyril
- 18 Mar 2011 10:28
- 1602 of 5505
niceonecyril
- 18 Mar 2011 12:57
- 1603 of 5505
tyketto
- 18 Mar 2011 13:21
- 1604 of 5505
Nice, but totally ruined by the sound balance.
Difficulty hearing the commentary through the music.
mac
cynic
- 18 Mar 2011 13:26
- 1605 of 5505
listen to the music of the share price!
Balerboy
- 18 Mar 2011 14:36
- 1606 of 5505
I'll second that!! kkkkkkkeeerrrrrrccchhhiiinnggg
gibby
- 20 Mar 2011 09:13
- 1607 of 5505
i sold a big proptiotion of my holding to buy back which i did now what do - libya has destabised its region - what do you reckon sp up or down - i think up?
gibby
- 20 Mar 2011 09:20
- 1608 of 5505
a little present
http://www.youtube.com/watch?v=L5YUCygMBiE
niceonecyril
- 20 Mar 2011 19:03
- 1609 of 5505
We should get the results(72hrs) from the latest RNS,which will decide?
niceonecyril
- 20 Mar 2011 19:30
- 1610 of 5505
A couple of days old but worth aread,followed by Fox's latest report.
A cGulf Keystone shares gush up 22% on Kurdistan oil hopes
Share3 Comments (0) Making a substantial oil discovery when the crude price is soaring is pretty much an ideal situation. Step forward Gulf Keystone Petroleum, which is exploring in the Kurdistan region of Iraq.
The company has revealed it found a significant flow of oil at the Shaikan-2 well, where it has a 75% working interest. It said:
Substantial smoke and/or the oil flare is/are visible from the company's office in Erbil some considerable distance from the Shaikan-2 location, indicating that a significant flow has been encountered and prompting hte company to issue this announcement.
It is conducting tests, which are expected to last for 72 hours, to determine flow rate and oil quality. But Gulf Keystone boss Todd Kozel said the oil flow confirmed its belief in the "world class nature" of the Shaikan discovery.
Investors are convinced too. Shares in Gulf Keystone - which some tip as a possible takeover target - have surged 22%, up 26.75p to 150.25p.
Analysts at Fox-Davies Capital said:
This is excellent news for Gulf Keystone although we have to wait for more data in order to be in a position to make a more definitive assessment. We are increasing our probability of success for the P50 case on Shaikan from 2/3 to 3/4 and raising our price target to 220p. We remain strong buyers of the stock, which has been weak for no specific reasons recently.
http://www.guardian.co.uk/business/marketforceslive/2011/mar/18/gulf-keystone-up-on-iraq-hopes
http://www.fox-davies.com/media/360203/fdcgkpmar182011.pdf
niceonecyril
- 20 Mar 2011 19:34
- 1611 of 5505
And from proactive.
http://www.proactiveinvestors.co.uk/companies/news/26467/gulf-keystone-shares-surge-as-shaikan-2-well-confirms-the-potential-of-the-block--26467.html
Shares in Gulf Keystone Petroleum (LON:GKP) jumped 24 per cent in a frenetic morning session after an encouraging update on progress at the Shaikan-2 well in the Kurdistan region of Iraq.
Above: Shaikan-2 smoke and oil flare are visible from the Company's office in Erbil some considerable distance from the Shaikan-2 location.
Based on the results from the initial Shaikan discovery an independent report was compiled. It put Shaikans oil in place resources at around 1.9 billion barrels and saw upside to 7.2 billion - in a P90 to P10 range.
Shaikan-1 tested five levels from 1,450 metres through to 2,850 metres - with a combined rate of more than 20,000 of oil barrels a day.
But Gulf Keystone had to stop drilling at the lowest levels because of a very high pressure zone that was above the tolerance of the well design.
niceonecyril
- 20 Mar 2011 20:14
- 1612 of 5505
Amd from dalesman,some excellent points.
To quote the Carpenters 'its only just begun'
Shaikan 2 has much yet to give up. It appears that the Sargalu is deeper than expected at SH2, we have the Alan Mus and Butmah still to come and the oil water contact may well be lower than expected adding greatly to the OIP figures.
This is only the start of the operations at SH2. The HPHT Triassic is next. Remember the gas kicks, the excellent flow rates and the high API oil recovered at SH1 before they had to shut it down. That process took three days to get under control such was the energy encountered in the Triassic.
SH2 has been designed to deal with these HTHP conditions. It will be the first time that the Triassic has been fully appraised in Kurdistan and the light API oil and excellent GOR will help to make the well even more commercial.
If I remember correctly an extra 5 billion was postulated for the Triassic, I have a feeling that this figure may turn out to be conservative. As well as light oil the Triassic has significant gas associated with it.
Todds foresight in joining with MOL will be fully recognised when the Nabucco pipeline is built. Mol owns 1/6th of the Nabucco project and will have priority access to it for its gas. Its gas is GKPs gas and while Heritage may find it more difficult to export its gas, GKP should be first in line.
Shaikan 2 will not stop at the Triassic. To date we have not heard of any sidetracks that could limit the casing strings and subsequently restrict the planned TD which lies in the Permian. The Permian lies below the Triassic and represents yet another frontier in terms of Kurdistan oil exploration.What I wonder has the Permian to offer to our OIP figures?
So 'its only just begun' let the thin lady sing!
God bless her soul
Kind regards
Dalesman
niceonecyril
- 21 Mar 2011 10:40
- 1613 of 5505
Balerboy
- 21 Mar 2011 18:45
- 1614 of 5505
Ho ho my ave, 44p lookin good.,.
Balerboy
- 22 Mar 2011 08:01
- 1615 of 5505
YABA DABA DO!!!
Balerboy
- 22 Mar 2011 08:19
- 1616 of 5505
22 March 2011
Gulf Keystone Petroleum Ltd. (AIM: GKP)
("Gulf Keystone" or "the Company")
Kurdistan Operational Update
Shaikan-2 Appraisal Well Test Results
Gulf Keystone is pleased to announce the results of the previously reported well test at the Shaikan-2 Appraisal Well drilled approximately nine km to the south-east of the Shaikan-1 discovery well.
Shaikan-2 has achieved short term, indicated rates of 10,144 barrels of oil per day (bopd) and a stabilised flow rate of 8,064 bopd of 26 degree API oil and 2.44 mmscf/d of gas (Gas Oil Ratio of 302 scf/bbl) on a 2" choke at a 250 psi flowing wellhead pressure. Given the Shaikan-2 well test conditions, as well as the successful well stimulations at Shaikan-1 & 3, the Company anticipates that sustained rates in excess of 10,000 bopd could also potentially be achievable at Shaikan-2.
The Shaikan-2 flow rates are consistent with the Shaikan-1 & 3 rates but with higher quality oil and more associated gas, both of which can lead to an enhanced recovery rate. The oil gravity of 26 degrees API is significantly better (lighter) than Shaikan-1 & 3, both of which are currently producing 18 degree API oil from the upper sections of the Jurassic at the Company's Extended Well Test facility.
The Shaikan-2 well test was conducted in a 44 meter interval (1792m to 1836m) in the upper section of the Jurassic age formation. Following this test, normal drilling operations will recommence and the Company anticipates that further Shaikan-2 drilling will follow the Shaikan-1 geological sequence, i.e. through multiple, potential Jurassic and Triassic reservoirs before reaching TD at the bottom of the Triassic or into the top of the Permian, depending on well results.
The Company has a 75 percent working interest in the Shaikan block and is partnered with the MOL subsidiary, Kalegran Ltd., and Texas Keystone Inc. which have the remaining 20 and 5 percent working interests respectively.
Todd F. Kozel, Gulf Keystone's Executive Chairman and Chief Executive Officer commented:
"We are extremely excited about the Shaikan-2 well test results, especially considering the potential implications of this successful nine kilometre step-out from the Shaikan-1 discovery well for the oil-in-place resource estimates. We eagerly anticipate further results from the continuing drilling program for this well."
Balerboy
- 22 Mar 2011 08:50
- 1617 of 5505
surprised that market not more excited......glad to be holding.,.