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.

Original article

http://www.kurdishglobe.net/display-article.html?id=6D891438EB6306836FCD3E45E4B74525

Short extract:


Kurdistan Region President Massoud Barzani emphasized once again that
Kurds will not accept remaining within Iraq if the Constitution is sidelined. He warned the Iraqi government not to ignore Kurdish demands and announced upcoming negotiations.

A delegation from the Kurdistan Regional Government, headed by its Prime Minister Barham Salih, will soon visit Baghdad, announced Barzani.

"This time it is serious. We have to understand whether Baghdad [government] is sticking to the Constitution and the agreements," said Barzani, referring to the 19-point agreement according to which the Kurdish parties allied with Iraqi Prime Minister Nuri al-Maliki in the current government. "Then afterward, we will inform our people about the results [of this visit] and will take any necessary decisions."

hi sinbad, from a kurdish blogger(you're probably aware of him) and he's happy to answer questions you post on his blog...........

These activates can only be an indicator that interest in the region is on the up and investors are cottoning on to the fact that the KRG would not budge to Baghdad. It is also becoming apparent that KRG will make sure the PSCs it has awarded will be honoured as failing to do so make KRG irrelevant

http://kurdishviews.blogspot.com/2011/08/pressure-is-mounting-on-kurdish-pscs-as.html

False reports on suspension of oil export from Kurdistan

The Ministry of Natural Resources of the Kurdistan Regional Government would like to state that there has been no policy decision for suspending oil exports from Kurdistan via the Iraq-Turkey pipeline.

and also on the KRG official website -

"Therefore, all the false assumptions and accusations of export suspension should be totally discarded."

http://www.krg.org/articles/detail.asp?anr=41441&rnr=&areanr=60&smap=02010000&lngnr=12&utm_source=KRG&utm_medium=KRG.org

yep - what rumours some people try to put out - the biggest danger is some maniac bombing the pipeline - no export suspension though
gl

Suggest in the coming 6 to 9 months markets are going to be strong (ignoring the short term rumour dominated volatility).

http://www.bloomberg.com/news/2011-09-08/insider-buying-highest-since-2008-in-europe-chart-of-the-day.html

Insider Buying Highest Since 2008 in Europe: Chart of the Day

By Adam Haigh and Tim Barwell - Sep 9, 2011 6:00 AM GMT+0700


More executives at European companies are buying their stock than at any time since the worst period of the financial crisis in 2008.

The CHART OF THE DAY shows that insider buying of shares climbed in August to its highest level since October 2008, according to data compiled by Citigroup Inc. That preceded a 84 percent jump in the benchmark Stoxx Europe 600 Index from March 2009 to the gauges peak this year on Feb. 17.

Directors have a good ability in timing the market, Chris Montagu, a London-based quantitative strategist at Citigroup, wrote in a report dated Sept. 6. One can conclude that, at this juncture, directors see current valuations as an attractive entry point.

The benchmark Stoxx Europe 600 Index slumped 16 percent from the end of July through Sept. 6 when the gauge reached its lowest level since July 2009. Equities tumbled amid concern that global economic growth is slowing as the European sovereign-debt crisis spreads. The indexs valuation slid to 9.1 times the estimated profits of its constituent companies during August, the lowest price-earnings ratio since March 2009, according to data compiled by Bloomberg.

http://www.thejakartaglobe.com/business/21b-deal-may-spark-oil-fight-in-iraqi-last-great-frontier/464739

Comment from EK.


"I bought yet more Gulf Keystone (GKP) at 163.5p on Friday. However one looks at it this Vallares deal with Genel sets the benchmark. I am told that were it replicated at Gulf Keystone the share price would be north of 4. As it happens I am also told that 8+ is much more like it. In today's market punters are hesitant to get stuck in. But they will."

What a great day,over 11.5m on the KSE and 170.5p fin,brealing the chartist
golden cross.

Indeed a great day for GKP.

Onwards to 200p soon.

Said that Shaikan-2 has now completed all testing and that news is now imminent.

with numbers out tomorrow and a weak market in prospect for remainder of today, it may be best to buy into the weakness - i.e. after the news - rather than now

Well, I brought in at 120p and glad I did. Things are moving the right way now, so make money.

i too already have a slab, but am tempted to buy more

Great rise today, we may see some selling tomorrow? Only weakness i can see here is the O/Gas law along with the service agreement issues and of course that lew suit.Once(if)they are cleared then who knows where we will end up?

dont forget todz has form.

Bit in The Times, snippet below : http://www.thetimes.co.uk/



".................The Kurdish region of Iraq where GKP operates is attracting a lot of attention, particularly since Vallares, the cash shell of BPs former chief executive Tony Hayward and Nat Rothschild, confirmed that it would buy an oil explorer there last week. The 2.5 billion deal, which effectively threw Mr Hayward and GKP together as working partners on the untapped Ber Bahr block, was music to the ears of the GKP faithful.

In part, GKPs improvement has been amid hopes that the Kurdish regional government would reach an accord soon with Baghdad on an oil law to regulate the industry. And, in part, there were hopes that GKP may soon name a new heavyweight director to bolster its credibility in more sober quarters of the market.

Then there were fresh whispers yesterday about its wells. Supposedly, testing of part of its Shaikan 2 well has showed it yielding as much as 60,000 barrels of oil a day. Meanwhile, its Sheikh Adi well, previously nothing but a disappointment to GKP enthusiasts, purportedly has had a second wind and the oil now flows more freely. An eagerly awaited report on GKPs wells was expected imminently............."


.

http://www.advfn.com/p.php?pid=nmona&article=49164445

Valuation and summing up by Zwngas,although a higher offer for cash than the $1.5bo,was my understanding?


First rate update and look at the pay in Sheik-Adi and Shaikan 4 compared to other wells. Firstly i see a current 6.70 valuation at the moment based solely on known resources !!

Shaikan-2 appraisal well drilling with test, core and log data indicating a net oil column of 126 metres and an aggregate flow rate of over 8,000 bopd
Shaikan-4 appraisal well spudded on 27 May 2011 and is currently drilling in the top of the Triassic. Only the Cretaceous and upper Jurassic have been logged thus far with 278 metres of net oil column
Well logs and core data thus far in the mid to upper Jurassic show a massive oil column with net pay intervals of 278 metres.

Sheikh Adi-1 exploration well drilling with core and log data indicating 256 metres of net oil column.
The gross pay interval in Sheikh Adi-1 is 2,790 metres, 35% more than Shaikan-1.

440,000 bopd pipeline suggest this also features the involvement of the Chinese -ie same capacity roughly as at TatAq (before Shaikan becomes a 300-500,000 bopd producer).

Bechme at near 4800 mts and target depth. Akri-Bijeel block to be sold which will remove upcoming costs for Barkman exploration. Bijeel appraisal well and surface production facilities at Bijeel. Likely that a sale is already lined up and possibly once Bechme known

More Oil in place to come from Sh-2 discovery and much higher pay in Sh-4.

BerBahr spuds middle of next month = 4 weeks.

Known P50 resources now 5.66 billion bls NET to GKP. Vallares paid $1.50/b for Genel resources - so this indicates a further way of valuing GKP (other than reserves which will soon come out imo). On a similar scale to the Genel deal based on net resources- GKPs bet resources value = $8.49 billion or 6.71 per share ! Further OIP upside to come from SH-2 and 4. BerBahr in it for free plus 2nd Sheik-aDI Structure.

All in all, very exciting times ahead imo.

This is where you can piece together the bits of rumours into something coherent.

Something like :

A beauty parade is being lined up with the reason being the sale of their stake in
the AB block.

Pending drill results at Bekhme-1 they expect to sell this stake off for 1.4 billion US$.

Nice :)

"LONDON, Sept 14 (Reuters) - Kurdistan-focused oil firm Gulf Keystone is confident political differences between Iraq and the semi-autonomous region of Kurdistan over an oil law will be resolved by the end of the year.

"It is on the front-burner of business in Baghdad with the Parliament, and local authorities told us they expect it to be resolved by the year end," Chief Executive Todd Kozel said in an interview with Reuters on Wednesday.

Iraq's central government and oil-rich Kurdistan have been at loggerheads for years over legislation that would go a long way towards deciding control of Iraq's reserves.

Oil company confidence in Kurdistan has grown since May when producers began to receive payments for exports after months of haggling between the central and regional governments, suggesting relations between the two had improved.

"I'm so confident it's coming (resolution on the oil law), I don't even contemplate the other," Kozel said.

"Iraq needs oil. Iraq needs revenues to rebuild the country and the only way for them to get it is through oil export and production. It's in the best interests of all Iraqis to resolve the oil and gas law." (Reporting by Sarah Young; Editing by Matt Scuffham)

http://af.reuters.com/article/commoditiesNews/idAFWLA506720110914