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.

Just to calm your nerves
JOKE

Never mind about the markets dropping ...
I'm more worried about where that f**kin satellite is going to land!!
Attention ... Hard-hats on and head for the bunkers ... !

An Oil Supply Squeeze Is Coming In The Years Ahead
September 22, 2011

http://seekingalpha.com/article/295297-an-oil-supply-squeeze-is-coming-in-the-years-ahead#comments

http://af.reuters.com/article/energyOilNews/idAFL5E7KM3ND20110923

http://seekingalpha.com/article/295297-an-oil-supply-squeeze-is-coming-in-the-years-ahead#comments

Machoman use the link symbol above box and paste your message.

http://www.kurdishaspect.com/doc092210BB.html

Kirkuk-Ceyhan pipeline belongs to Kurdistan



Kurdishaspect.com - By Baq Barzani



Iraqi Central government strives hard to block Kurdish Regional Governments (KRG) prerogatives over exploration, production and export of petroleum resources in Kurdistan.



Independent contracts signed by KRG with numerous private international oil firms such as Norways DNO, Heritage Oil (Canada), Al-Aabar Petroleum (UAE), Switzerland-based Addax Petroleum Corp were previously considered unauthorized and unconstitutional by Iraqi anti-Kurdish oil minister, Husayn al-Shahristani.



Not only has the central Bagdad government bereaved KRG of its inherent, legitimate rights to a fraction of the intact Iraqi oil, which theoretically belongs to all Iraqi populace irrespective of ethnic composition, but also it deems reserving monopolistic right over trading Kurdish oil fields in and surrounding Kirkuk and other major parts of Kurdistan to foreign states short of any deliberation with KRG.



Having cut supplies of some fuel products to Kurdistan by 50 percent earlier, and incessantly warning to abolish all existing oil contracts in force in Kurdistan, Shahristani abuses his authority and acts on behalf of certain permeating governments. He has admittedly received millions of dollars in enticement money and continues to serve adjacent Syria, Iran and Turkey by permitting them to plunder the Iraqi national assets irrationally.



Turkish Lobbies in Washington, DC and Turkish firms in Iraq such as Turkeys Turkiye Petrolleri Anonim Ortakligi (Turkish Petroleum CorporationTPA O) are acquiring oil contracts by means of offering bribe to corrupt Iraqi officials in Bagdad, including Shahristani.



On September 19th, Shahristani extended a 15-year accord with Taner Yildiz, Turkish Energy Minister, to export oil from the Kurdish Kirkuk oil fields to the Turkish port of Ceyhan devoid of any endorsement from or the slightest coordination with Kurdish authorities whatsoever.



Kirkuk-Ceyhan pipeline, also known as the Iraqi Turkish pipeline, runs from Kirkuk, Kurdistan to the Ceyhan in the Mediterranean region of Turkey. The link carries an average of 500,000 barrels of oil a day and its capacity is expected to soon upgrade.



Located in the Kurdistani Kurdish Kirkuk province, Kirkuk-Ceyhan pipeline directly rests in sphere of KRGs influence. Implementation of article 140 should automatically incorporate Kirkuk-Ceyhan pipeline into KRG geography.



Since KRG officials were not summoned to attend the oil-contract extension ceremony signed between Iraq and Turkey, nor were its views inquired on the matter, therefore, KRG reserves the right to annul any enforced contracts between Baghdad with its neighboring countries likewise.



Iraqi oil is being overpumped and overproduced in every corner of Iraq, with most of it streaming into the pouches of the neighboring Turkey, Iran, and Syria. Clannish leaders in South of Iraq have launched their own hush-hush oil-producing and oil-selling corporations.



Indicated figures and diagrams by the Iraqi ministry of oil do not reflect the true information about the oil production, consumption and export proportions.



OnOnly estimated 15 percent of Iraq's oil reserves are located in and around Kirkuk, Mosul and Khanaqin. About two-thirds of production comes from the southern fields.

Signing a 15 year contract on behalf of Kurdish officials is null and void. It is a deliberate act of depriving a nation of its intrinsic rights and pilfering its national assets.



Instead of opposing the Kurds, Shahristani needs to divert a modicum of his focus to the abuse, mismanagement and embezzlement of government funds and resources that is occurring in central and Southern parts of Iraq in an immeasurable rate.

he largest oil field in IRAQ!

http://www.investorsiraq.com/showthread.php?155809-Kurdistan-Says-Its-Gas-Can-Quench-Nabucco-Pipeline-for-100-Years

Kurdistan Says Its Gas Can Quench Nabucco Pipeline for 100 Years

27/03/2011 12:35:00 By HAWAR ABDUL-RAZAQ

ERBIL, Iraqi Kurdistan: The newly contracted director of Iraqi Kurdistans Shekhan oil field says it is set to become the largest oil field in the whole of Iraq, and the minister of natural resources says the semiautonomous region has massive natural gas reserves, which could supply the needs of the projected Nabucco pipeline for at least 100 years.

[The Shekhan] oil field is expected to have around 1.9 to 7.4 billion barrels of oil, said Tod Cozel, managing director of Gulf Keystone Petroleum, a company from the United Kingdom, which has won the contract for oil production at the Shekhan field.

The Kurdistan Regional Government (KRG) has now signed a total of 37 oil and gas production contracts with 41 foreign companies from 17 countries, and has begun to promote Kurdistans oil industry to the international market through a two-volume publication entitled The Oil and Gas Year.

The second volume was launched on March 3rd at a ceremony at the Rotana Hotel in the regions capital, Erbil, attended by Kurdistans prime minister. At the ceremony, Mehmet Sepil, owner of Genel Enerji, which has been working in oil extraction and production in Kurdistan since 2002, was awarded the Person of the Year title by the KRG. His company now works in various Iraqi Kurdistan oil fields, including the Taq Taq field near Kirkuk.

The new publication evaluates the last 12 months activities in Kurdistans oil and gas industry, and includes an interview with Iraqi Kurdistans minister of natural resources, Ashty Hawrami, in which he talks about the importance of the oil and gas industry for Kurdistans economy.

This industryprovides thousands of jobs for people in Kurdistan. We have built two refineries so far, and the third is under construction, says Hawrami in the interview.

The book lists the 41 foreign companies that have signed oil and gas contracts with the KRG, and the line-up includes some big international names, such as Canadian firm Aspect Energy, the United States Murphy Oil Corporation, Turkeys Genel Enerji, Norways DNO, and Gulf Keystone Petroleum.

Among other facts, the publication states that oil reserves in Iraqi Kurdistan are estimated at 45 billion barrels, and that, since 2003, 49 new oil wells have been dug within the Kurdistan region, including Tawke, Taq Taq, Baziyan, Shekhan, Sarseng, Bardarash, Miran, Chamchamal, and Akre.

Sepil was recognized as Person of the Year due to his outstanding achievements in the field, which include his company being given the tenders for six oil production projects in Iraqi Kurdistan.

Interviewed in the publication, Sepil says it is expected that the combined oil production of Iraq Kurdistans Tawke and Taq Taq fields will reach 170,000 barrels per day (bpd) by the end of this year, although his company is eventually aiming for each field to reach 100,000 bpd.

Sepil also confirmed that his company was working on a project to install an oil pipeline to Kurdistans border, which would serve as an alternative to the Kirkuk pipelines, as this would increase Kurdistans oil exportation, and he called on the KRG to assist with the completion of this project as soon as possible.

In the publication, Ahmed Saeed, director of Forbes Energy Group, praises the suitability of Kurdistans land for the oil industry.

Geologically in Kurdistan, there are fewer threats compared to in other countries, and when the political situation stabilizes in Kurdistan, the market for natural resource industries will flourish as well, says Saeed.

In addition, the natural resources minister states that Iraqi Kurdistan is ready to supply the unfinished Nabucco pipeline with gas for the long term.

According to the estimates of the government and some other parties, Kurdistan has about 106 to 212 trillion cubic meters of gas, says Hawrami in the publication. As we all know, it is planned that the Nabucco pipeline will import gas from the Caucasus and Central Asia to Europe, and it will require 31 billion cubic meters of natural gas a year. If we have [only] 106 trillion cubic meters of natural gas in Kurdistan, then we can supply Nabucco with natural gas for 100 years.

Gulf Keystone and Excalibur Iraq legal battle hots up




Rowena Mason, 18:28, Monday 26 September 2011

New court documents have shed fresh light on Gulf Keystone Petroleum's (GKP) links with Excalibur, the obscure company that claims it is owed 30pc of the 1.2bn explorer's Iraq oil wealth.

Excalibur is suing GKP over Kurdistan's 11bn-barrel Shaikan oil field in a vigorously contested suit.

The company had a "collaboration agreement" with Texas Keystone, a private company owned by GKP's chairman Todd Kozel and his brothers, giving it 30pc of fields won in any joint bids.

Excalibur, which introduced Mr Kozel to Iraq, says it was therefore shocked when GKP struck a deal in November (Berlin: NBXB.BE - news) 2007 with Hungarian company Mol.

In the lawsuit, it emerges that GKP, Texas Keystone and Excalibur were all named on a draft bid for Shaikan four months before the final deal.

GKP says the draft was shown to Kurdistan's oil minister in July 2007 but the government did not want Excalibur to take part and made clear it was not eligible.

The lawsuit, due to be heard in London next month, will have to determine whether GKP and Excalibur were contractually bound to bid as a consortium.

Excalibur insists it was understood that Texas Keystone was an "agent" of GKP, because a US company would be more attractive to Kurdistan than a Bermudan one. GKP is adamant that it was and is entirely separate.

GKP also says it gave Excalibur the opportunity to participate after November 2007, but it could not raise the money for a signing bonus.

Harvey Rands at Memery Crystal, which is acting for GKP, said: "Excalibur refused to sign a contract with Gulf. After the Kurdish petroleum law was published, Excalibur realised and accepted it could not participate in a contract. The oil minister required Gulf to join with a very substantial partner, Mol. Excalibur was offered the chance to farm in but could not raise the necessary funds."

Excalibur is expected to reply arguing it could not raise cash because GKP was refusing to confirm its stake

not that etamic / excalibur / krg and obscure off shore funds & dodgy people with no faces saga again - LOL - could be an expensive episode though!

some more red maybe due here today perhaps

not that etamic / excalibur / krg and obscure off shore funds & dodgy people with no faces saga again - LOL - could be an expensive episode though!

http://www.iii.co.uk/investment/detail/?display=discussion&code=cotn%3AGKP.L&it=le&action=detail&id=8787478

Another take on the claim.

http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/8790357/Gulf-Keystone-and-Excalibur-Iraq-legal-battle-hots-up.html

Monday 03 October, 2011Gulf Keystone Petrol
Appointment of Non-Executive Director
RNS Number : 3725P
Gulf Keystone Petroleum Ltd.
03 October 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.









3 October, 2011





Gulf Keystone Petroleum Ltd. (AIM: GKP)

("Gulf Keystone" or "the Company")



Appointment of Non-Executive Director





Gulf Keystone is pleased to announce the appointment of General the Lord Guthrie of Craigiebank, GCB LVO OBE DL, as a Non-Executive Director.



Lord Charles Ronald Llewelyn Guthrie, 72, served in the British Army from 1957 to 2001. From 1997 to 2001 he was Chief of the Defence Staff and the Principal Military Adviser to two Prime Ministers and three Secretaries of State for Defence.



He was Director of NM Rothschild & Sons Limited from 2001 to 2011 and is currently a Director of Sciens Capital (US), Colt Defense (US), Petropavlosk plc. He is a Council Member of The International Institute of Strategic Studies; a Visiting Professor and Honorary Fellow of King's College London University and Chairman of the Trustees of the Liddell Hart Centre for Military Archives.



He is President of The Army Benevolent Fund; Action Research; Federation of London Youth Clubs and a Governor of The Charterhouse, Clerkenwell. He is a Board Member of the Moscow School of Political Studies.



He was, for ten years, Colonel Commandant of the Intelligence Corps and is currently Colonel of The Life Guards, Gold Stick to The Queen and was Colonel Commandant of the SAS from 2001 to 2010.





Commenting on today's appointment, Todd Kozel, Executive Chairman and Chief Executive Officer, said:



"As we set about the further strengthening of our Board, we are delighted to welcome Lord Guthrie to Gulf Keystone as a Non-Executive Director. He brings a wealth of experience to the company, honed over a long and distinguished career in which he has worked at the highest levels of strategy and policy development, both in the UK and abroad. We greatly look forward to his positive contribution to Gulf Keystone as we continue to capture the value of our world class acreage in Kurdistan."

i wonder why they want an ex sas commander in somewhere like iraq!?

anyhow as expected from my posts a week or 2 back sp a bit further south today

gla

that was a retorical question btw in case anyone did not see the joke - LOL

http://www.investegate.co.uk/Article.aspx?id=201110110700119239P

Reply by Zengas.

someone asked how long this well could take ?

Hard to tell depending on drilling conditions but there are nearby examples of wells that have been particularly fast to discovery time.

Atrush was drilled/completed in 91 days (3 months).
Shaikan 4 powered ahead seemingly without any problems and the fastest of the Shaikan wells so far.

We know that some of the targets in BerBahr are fairly shallow so a good time to relook at the Kurdistan Oil and Gas Acvtivity map (provided by Shamaran) -

BerBahr is seperated by only one block (Murphy Oil) away from Tawke and in oil terms, that it very close to Tawke itself. The Tawke field is a shallow 24 API discovery made within 1 month of drilling.

DNOs tawke field was spudded 28th Nov 2005.

"On the 22 Dec 2005 it reached the first prospective reservoir interval at approximately 350 meters. The oil was circulated out and flared off in a controlled manner. Samples of the oil were taken confirming an API gravity of approximately 24 API. This API grade corresponds to oil produced from other fields at similar reservoir level in Northern Iraq.

The forward plan is to continue drilling the full reservoir section, which could be up to 800 meters thick according to the prognosis".

http://www.dno.no/Press--Media/Press-Releases/3640/Drilling-Status-Northern-Iraq/

http://www.upstreamonline.com/live/article282851.ece

Feed back from Irish presentation.


Thanks to Kandyman1 on 3i.


Hope makes some sense and is of use.

Just finished at presentation, had good chat with John Stafford and anastacia. Lovely people but tbh hard get info from him. I had questions ready for Ewan and as John a geo man I'm bit lost . Not forthcoming with info but here goes.

Q1 Bbbs, asked about 2100m . No hidden agenda just their call, tag the Triassic how he put it.their first drill , hit low hanging fruit.

Q2 pushed him hard on if owc came in as intended along with seismics what Oip would be. I mentioned CNN interview but got nothing back only alot more than 7,5. Billion.
They have seen nothing yet to change their view on it though.

Q3 SH2 rig going to sa2 not sh6. That's something at least.
Going relatively shortly to north of current location.
Seismic used to pick location and very confident it will flow.
I pushed him on sa1 flow rates, said he believes it will flow, the equipment in Iraq while good can be improved now their is more action in the area.
He was responsible for screening the the BB and adi block prior to GKP getting it.

Q4 oil Local sales can take place and exports have at small levels.,facilities been upgraded , can take 7000bpd.
Depending on success facilities at sh2 and sh4 will be implemented.
Hard get info on oil quality from him and id say their is issues for exports to make it easier for them they need upgrade.



Lse listing. ------- end q1 2012

Fully funded for pipeline. 1million dollar per 1km , 120 kilometre .
Bb asked about KICE but danced round it and mentioned taq taq . Wants own pipeline and may. Build for extra capacity.
Field development team all employees not consultants( think that's right)

Sh6 should give them all info they need for Shaikan

Sh7 been designed for lower levels, bigger spec . Designed from permian up.
March 2012 7 rigs going

Sh5 rigged up at moment

Akri bijeel , no quick fire sale, will see results of current drill before sale, be year end I guess by time mol finish, their slow but good .
Seismic going on on akri bejeel, with 3 rigs planned, upto 5 structures on it, massive complex structure.

I think he said ber behr was not like that, big dome.

I put it to him that Shaikan is all broken up and not one big resevoir.
He said from what he seen that's not the case, one big structure or pool .

Very excited about area under Triassic c zone, he gave name but all I remember was dolomite , few hundred meters under where they are now. More excited about that than Permian although would not discount it.something got to do with Syria .


Shaikan initial development,--- 50 wells, 12 main zones with 4 wells from each, that's what looked like

Sh4 in Triassic , just logged.cores .


Latest drill on akri (backman ?) is at Td and loggin

Oil quality--- something about PI in the oil. Usually at 5 , at Shaikan it was at times 200, world class, this maybe got to do with flow rates.

Usuall blah blah about contracts , krg etc, hard get info.

Asked about net profit per barrel , said mentioned at agm.

I quoted north of 6 , was not verified or denied.

Sorry for post all over place , just whatever comes to mind I write and geology not thought in the factory.

Overall nice folks, hard get info and I had great chat with them.Pity gram or the geo boys could not come as good access to him.

Met some nice guys there also, forget names as usual but top blokes. Also good meet spidy.

If remember more il post later as on iPhone having a pint.

As question and info flying round I can't stand by this post or info so take with pinch of salt.

All said glad I went, nice folk, patience , yes I know boll ix but patience is the key,

sarahgibbs - 12 Oct'11 - 22:36 - 120706 of 120725

oldfool - stick to drilling holes in GKP's acreage if it's a return your after! THis stem cell lark has a long way to go - I've been in it 10 yrs and would rather, and do, invest plenty here. It's interesting for sure, but has a long way to go. Technology chnages so fast in it too. Careful if you invest in stem cell breakthrough companies - a lot of charlatans on the band waggon. GL

David Brent - 12 Oct'11 - 22:48 - 120707 of 120725

goodstuff from kandyman1.

he didn't answer the question on everyones lips though! Is anastacia fit?



From Mr Avergae on 3i:

........."Very excited about area under Triassic c zone, he gave name but all I remember was dolomite , few hundred meters under where they are now. More excited about that than Permian although would not discount it.something got to do with Syria" .


Many thanks for the genuine effort Kandymans1

I believe you heard correctly re "Syria" .
.....The Sariyah prospect is sited to the North of SA1, this prospect is potentially very important to GKP especially with a 80% WI.


The early days Sariyah prospect, can be viewed on Page 17 below - formly held by DNO:

http://hugin.info/36/R/1206041/248007.pdf

Or, alternatively shown within a red boundary keyline (seismic boundary) within the Sheikh Adi block - on GKPs page 10 below:

http://www.gulfkeystone.com/uploads/gkpinvestorpresentationsept2009ea-updated280909.pdf

http://www.thetimes.co.uk/tto/business/markets/article3202750.ece

"Gulf Keystone Petroleum, an oil explorer in the Kurdish region of Iraq and a firm favourite among racier private investors, was chased 1p higher to 137p on whispers of an impending bid pitched at 180p-200p a share."