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.

DOW JONES NEWSWIRES

LONDON (Dow Jones)--Gulf Keystone Petroleum Ltd. (GKP.LN) expects to start drilling production wells at its Shaikan oil discovery in the Kurdistan region of Iraq in late 2012 or early 2013, Chief Operating Officer John Gerstenlauer told Dow Jones Newswires Tuesday.

The company is still appraising the oil field and will drill two more wells to fully understand the geological structures and oil reservoirs before finalizing and submitting its Field Development Plan to Iraq's Ministry of Oil.

If all goes to plan, Gerstenlauer expects to submit the plan in mid-2012 and hopes it will be approved by the end of the year, before moving on to the development stage.

Gulf Keystone is already working on the plan, and although Gerstenlauer said it is still early days, he said the project will likely require 200 wells over its 25-year life--100 to begin with and 100 more by the end of its life.

"You're looking at somewhere in the order of $7 billion in gross development costs, of which $4.5 billion to $5 billion is our share," he added.

The idea is to connect the Shaikan oil field to the Kirkuk-Ceyhan export pipeline, which runs between Iraq and Turkey and is located some 120 kilometers away. Gerstenlauer said the company could build the connection itself, but another possibility would be for Gulf Keystone to team up with Chinese national oil company Sinopec and Genel Energy International, an independent Turkish oil company, as they will be building a pipeline following a similar route.

Gerstenlauer said Gulf Keystone has more than $300 million in the bank but will need more to fund all of its plans, and hopes to get the funds by selling its interest in the Akri-Bijeel license, also in Kurdistan.

He said the company is waiting for its partner and the operator of the license, Hungarian oil and gas firm MOL Nyrt. (MOL.BU), to finish testing its second exploration well, Bekhme-1, and release its data before starting the auction process.

"Hopefully that [interest] will also generate several hundred million dollars, then we should be quite well funded," he said.

Shares at 1340 GMT were up 10 pence, or 7.5%, at 143.3 pence in a slightly higher Alternative Investment Market--up 1%.

-By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; iain.packham@dowjones.com

Gerstenlauer said Gulf Keystone has more than $300 million in the bank but will need more to fund all of its plans, and hopes to get the funds by selling its interest in the Akri-Bijeel license, also in Kurdistan.


eXCELLENT veiwing

http://blueprint.tv/uncategorized/gulf-keystone-petroleum-2

Exxon moves into Kurdistan.........


http://www.ft.com/cms/s/0/4e44f860-0bda-11e1-9861-00144feabdc0.html#ixzz1dLDC8jSs


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http://www.cityam.com/news-and-analysis/what-the-other-papers-say-morning-602


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Weak Good
Twilight News / president of the Kurdistan Regional Government, Barham Salih, Wednesday, the Erbil to reach an agreement with Baghdad on a draft law of oil and gas, will hopefully be submitted to the Iraqi Council of Representatives before the end of the year.
Saleh said in a statement to Radio NPR U.S. that "the agreement recently reached between us and the Federal Prime Minister Nuri al-Maliki on the draft law of oil and gas," he said, adding that "the project will be presented to the Iraqi Council of Representatives before the end of this year to vote on it."

He did not say for the content of the new draft, but he stressed that "the Iraqi constitution allows for the Kurdistan Region to take advantage of the fields and oil wells recently discovered in the region," adding that "the province and the basis of this constitutional right, began the development of economic infrastructure of the oil."

And Saleh said "the fact that the government of the province are now producing and exporting oil to the outside through the Iraqi pipelines," noting that "the proceeds of oil exported from fields in the region go to the central treasury of Iraq."

The oil and gas law is among the many outstanding issues between Erbil and Baghdad, which take place around the negotiations and dialogues length between the two sides to reach a formula Tredehma, and the exchange of the two sides to send delegations to negotiate, after both both the charges for the other to block to reach a solution.

Mm Al

Rocketing up ...any news anyone .....?...IC tip perhaps or takeover rumour...?...

Maybe exxon?

ExxonMobil has become the first of the supermajor oil companies to venture into Kurdistan, in a controversial move that will be seen as a huge vote of confidence in the semi-autonomous region of Iraq but could spark a backlash in Baghdad.

13% increase !....blimey...

165p....holy.....

not surprising really - contiuous news flow expected peeps taking positions for monday - would not want to be out over the weekend!!!! yeeeeeeeeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaaaaaaaa

exxon interest is good news

additionally it seems that the O&G law is no longer a deterrent to majors entering Kurdistan - nice :-))))))))))))))))))))

high volumes continue

still ticking - good stuff

what a great day - this and blnx dropping - yeeeeeeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaa

and sorry to anyone already in blnx

hmmmm excellent http://www.nasdaq.com/aspx/stock-market-news-story.aspx?storyid=201111101715dowjonesdjonline000641&title=exxon-mobil-signs-kurd-oilgas-exploration-contractsft

the city chatter good news is that apparently this agreement has clauses relating to the t/o of explorers in the region LOL!

more yeeeeeeeeeeeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa

looking at the 1 year chart, i would hazard that sp could still have good upside .....

agreed cynic

just passed + 20% so far - more on way

If majors are moving in ; good for Afren as well...sp is rising as well today...

If this is considered derisked then 200p is plausible...