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.

http://www.executiveinterviews.net/players/mini/default.asp?order=UK04811b

This weeks Oil and Gas price monitor from Merchant Securities :

http://www.mediafire.com/?ddmh1qawrnb9w3e

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5 September 2011

Gulf Keystone Petroleum Ltd. (AIM: GKP)

("Gulf Keystone" or "the Company")

Kurdistan Operational Update

Gulf Keystone today provides an update on its ongoing exploration and appraisal programme for the Shaikan block in the Kurdistan Region of Iraq. Shaikan is a major discovery with independently audited gross oil-in-place volumes of between 4.9 billion barrels to 10.8 billion barrels calculated on the P90 to P10 basis with a mean value of 7.5 billion barrels.

Shaikan-2 Well Test Update

Further to the announcement of 18 August on the new Triassic discovery with the Shaikan-2 Appraisal Well, the Company has completed a flow test in the lower section of the Kurre Chine B zone in the Upper Triassic zone of the Shaikan-2 Appraisal Well drilled approximately nine km to the south-east of the Shaikan-1 discovery well.

The Kurre Chine B flow test in Shaikan-2 achieved flow rates of 2,600 barrels of 40 degree API oil per day with associated gas of 5.4 MMcf per day through a 48/64"choke.

So far, the Company has conducted three wells tests on Shaikan-2 with the maximum aggregate flow rate in excess of 15,000 barrels of oil per day ("bopd") with up to five additional tests still to be performed as part of the ongoing Shaikan-2 testing programme in the Triassic and Jurassic. The next test will be conducted on the upper section of the Kurre Chine B.

Shaikan-4 Drilling Update

The Shaikan-4 Appraisal Well, drilled six km to the west of the Shaikan-1 discovery well, is currently drilling ahead at a measured depth (MD) of 2,580 meters. Preliminary well logs through the upper Jurassic (down to the top of the Butmah formation) indicate that the net pay count on this well for the upper Jurassic reservoirs is significantly better than those achieved with either Shaikan-1 or Shaikan-2.

John Gerstenlauer, Gulf Keystone's Chief Operating Officer commented:

"This latest in a series of successful Shaikan-2 well tests follows the announcement of the new Triassic discovery made with this well earlier this month. Together with the progress in the Shaikan-4 drilling operations and the oncoming spudding of Shaikan-5, it is a confirmation of Gulf Keystone's success in both drilling and proving the value of the giant Shaikan field, which is our immediate focus".

http://www.proactiveinvestors.co.uk/companies/news/32724/UPDATE-Gulf-Keystone-Petroleum-releases-positive-drilling-results-on-two-Shaikan-wells-32724.html


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Significant yo GKP.

http://www.investegate.co.uk/Article.aspx?id=201109070700557689N

And a quick assessment by Zengas.

Vallares already raised $2b.

Vallares will issue new shares to Genel owners worth a further $2.1b.

Genel and Vallares will merge and valuation = $4.1b.

P2 Kurdistan reserves = 356 mmboe.

Resources = 1.4 billion boe.

Atrractive entry point = $1.50/b = so this is the price per barrel of resource ie 1.4 billion x $1.50/b = $2.1b.

Acquisition cost of $2.1b on 356 mmboe P2 = $5.89/b.

I presume the $2b cash will be left in the coffers of the combined company for now - so likely more acquistions/fund development ?.

That's how i see it. I'm out for the rest of the day. This looks an excellent deal and imo proves how ridiculously GKP is undervalued !

DJ MARKET TALK: Vallares-Genel Energy Deal Seen Positive - Trader


0713 GMT [Dow Jones] Vallares' (VLRS.LN) plans to merge with Turkey's Genel Energy International Ltd, should be positive for Vallares and will help to lower specific country risk associated with Kurdistan, according to a trader. Genel would own 50% of the combined entity, valuing the group at $4 billion, and suggesting FTSE 100 entry. It would become the third-largest UK E&P, with a resource base of 1.4 billion barrels of oil equivalent. The trader adds that the deal should have positive read-across for Gulf Keystone Petroleum (GKP.LN). Vallares shares flat at 995p.(michele.maatouk@dowjones.com)

http://www.independent.co.uk/news/business/news/hayward-nets-16314m-in-first-middle-east-adventure-2350908.html


.............Tony Hayward has outlined plans to dominate the vast reserves of newly accessible oil in the semi-autonomous Kurdistan region of northern Iraq. The former BP chief executive said his $2.1bn (1.3bn) acquisition of Genel Enerji was just the beginning of his activities in the region.

Potential targets are understood to include Gulf Keystone, the Aim-listed oil explorer focused on Kurdistan, which is rumoured to be preparing for a sale, as well as other operators in the region. The group, which has enough cash to finance an estimated $4bn of further acquisitions, has also identified Libya as a potentially rich source of business, putting operators in the country on its list of possible targets..............

A very valid point,concerning Vlllares deal.

I also noted that in the Vallares presentation, they emphasised the fact that the contracts for their two main blocks were signed pre-2007 which is significant as they were legal under the then law.

http://www.independent.co.uk/news/business/news/hayward-nets-16314m-in-first-middle-east-adventure-2350908.html

legal then and legal now are not necessarily synonymous, especially in that theatre

Well they feel it matters?

hubbert's peak?....reading this month's Bike mag,we have a spread on the end of cheap petrol.bob wine,bp press officer...'there's an awful lot of oil known about,some politically,some technically difficult to extract at the moment. (bp doesn't subscribe to H's peak oil theory)
....'personally i rate chris skrebowski's view very highly. he puts the peak at 2014-15. the elephant in the room is the $450bn flowing out of the U.S and EU to buy oil..dr richard pearson,Lotus engineering.
..this is the end of 'easy oil' we are going into a world where finding the oil and gas is more complex and needs more investment.that means higher oil and gas prices. we have invested $100bn in new projects in the past 7,8 years and expect to invest the same in the next 4....peter voser,CEO,shell.
chris skrebowski,founder,Peak Oil Consulting....'even if you include all the new production it goes tight by middle of next year,and remains tight through 2013,14.....by about 2015 there will be no spare capacity left.this is the point where production can't be expanded above that level. (we could add Libya type curves here)....'then if demands run higher,you get to the really brutal question; Do the Chinese get the oil or do we get the oil,because there isn't enough for both of us'....food for thought eh.

RNS Number : 8674N

Gulf Keystone Petroleum Ltd.

08 September 2011

Not for release, publication or distribution in or into the United States or jurisdictions other than the United Kingdom and Bermuda where to do so would constitute a contravention of the relevant laws of such jurisdiction.

8 September 2011

Gulf Keystone Petroleum Ltd. (AIM: GKP)

("Gulf Keystone" or "the Company")

Notice of Half Year Results

Gulf Keystone will announce half year results for the period ended 30 June 2011 on 14 September 2011.

A presentation for analysts will be held at 2pm at Pelham Bell Pottinger, 6th Floor, Holborn Gate, 330 High Holborn WC1V 7QD. The presentation slides will be available on the Company's website at www.gulfkeystone.com from 2pm UK time.

For those interested GKP Investor Presentations:

DUBLIN - Wednesday 12th October:
http://www.proactiveinvestors.co.uk/register/event_details/124


MANCHESTER - Thursday 13th October:
http://www.proactiveinvestors.co.uk/register/event_details/125

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I find it difficult to believe this change of ramping attitude Proselenes......why !...we were all Rockhoppy..hippy and anti gulf-key....now....: it's the other way.....it's like a a magnetic pole change !?.....

Try reading post http://www.moneyam.com/InvestorsRoom/posts.php?tid=7803&from=1706 from earlier.

In at 120p and waiting for a sell out point. Looking good for some nice rises in the months ahead.

I do not love or hate shares, they are purely vehicles for making money, no emotion needed.

You sound like a real internet share terminator !....

http://www.bloomberg.com/video/75005944/

Bit more in the media....


http://www.independent.co.uk/news/business/news/tony-hayward-nets-14m-in-first-middle-east-adventure-2350908.html

Independent - Tony Hayward nets 14m in first Middle East adventure
By Tom Bawden - Thursday, 8 September 2011

The former BP chief executive said his $2.1bn (1.3bn) acquisition of Genel Enerji was just the beginning of his activities in the region. Potential targets are understood to include Gulf Keystone, the Aim-listed oil explorer focused on Kurdistan, which is rumoured to be preparing for a sale, as well as other operators in the region..................

RF - a lot of people have been shorting AIM stocks over the summer. They opened up shorts in early and mid summer and have been enjoying all the bad markets.

But now September rollover time is here, and markets are not going down, they are rumbling along and even looking a bit positive now.

So the shorts know its time to close and not rollover, so now heavily shorted stocks, like GKP, RKH, CHAR etc.. are having decent rises as more and more shorts close their positions.

Its what attracted me to GKP back then as per the prior post, a high level of Stock On Loan.