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.

Sun Nov 13, 2011 4:46pm GMT

* Gulf Keystone sees interest in asset sale

* CEO says company well-funded, not for sale

ARBIL, Iraq Nov 13 (Reuters) - Kurdistan-focused oil explorer Gulf Keystone said it has interest for its 20 percent stake in the Arki-Bijeel block in the semi-autonomous region, but any sale was still in the preliminary stages, an executive said.

The block in Kurdistan is estimated to hold around 2.4 billion barrels of oil and is operated by Hungary's MOL .

"We've got a lot of interested parties, but we have not identified a purchaser," Gulf Keystone CEO Todd Kozel told Reuters. "We haven't gone to the bidding process yet. It's in the data room process, data gathering and identifying interest."

Kurdistan is enjoying a surge in investor interest. The semi-autonomous region in the north of Iraq has enjoyed more stability and security than the rest of the country where violence remains a stubborn risk.

"Kurdistan is the hottest play in town in the oil business," Kozel said.

Still, Baghdad and Kurdistan's capital Arbil have a long-standing dispute over who controls oilfields and land. The central government calls Kurdistan's deals with foreign oil companies illegal.

Kozel said Gulf Keystone was already fully funded to build a pipeline and would be "very well funded" for their budget with the asset sale they plan.

But the executive said there were no plans to sell the company.

"Gulf Keystone is not for sale," he said. "We have not been approached by any company making an offer." http://af.reuters.com/article/energyOilNews/idAFL5E7MD0KP20111113

Zen's summing up of this mornings presentation.

==

ZENGAS - 13 Nov'11 - 11:26 - 126646 of 126652

Valuation imo becoming very clear.

GKP Conference Presentation today.

*** SLIDE 6 ***

Shaikan recoverable **reserves** estimate at 3.5 b bls to 4.4 b bls.

Discounting TKI and using only GKPs net 51% -

This would give GKP a net 1.785 b - 2.24 b bls recoverable from Shaikan (before any further upside).

To put that in context -
DNO rereseves 355 mmbo (11m which are in Yemen).
Rak valuation re DNO at 9.50 NOK = $1.6B.
Petroila 10 NOK offer for DNO shares = $1.7b.
Vallares offer for Genel with 356 mmbo reserves = $2.1b.

On that basis GKPs reserves could be 5 - 6.3 times greater than DNO or Genel.

If one was to use the average of DNO ($1.7b) and Genel valuations ($2.1b) = $1.9b the potential valuation x 5 = $9.5b (or x 6.3) = $12b. = 6.60 - 8.33 per share. (using 900 m shares fully diluted/options included).

If you were to only use the Genel valuation the valuation parameter would be 7.30 - 9.20 (and we were toild that bidders for Genel had offerred more)..

Sheik-Adi, Berbahr, Bechme, Akri-Bijeel and the other prospects are still entirely un-accounted for.

I see Spencer Freeman has tweeted again in the last 30 minutes that "a 900p is waiting in the wings for GKP for the sale of their Shaikan licence".

Doing the math so to speak certainly makes Sandunnes (8) and S Freemans (9) highly credible and doing the sums on what GKP have presented in their latest presentation today, the figures definitely stack up imo.

excellent volumes as expected - 200 to 250 today looking good

what a wonderful day :-)))) gla

200 breached :-)))))))))))))))

this is good - most interesting is the sneaky ii buying - very well pleased with that - wonder what cob voulume will be today

2 here we are.....not sure where the top is....never known an explorer with such a price...1.5 billion market cap....

Got a big grin on my face today gib, first for sometime hope it lasts. gla.

no great surprise that sp is having a bit of a breather at the all-time high ...... i would hope or even expect it to burst through that with decent momentum within the next few days, unless we have the usual weekly market dump

Taken profits.....in two goes this morning....not right at the peak but nevermind...pleased with the result.....just not sure where the top is...and this is a hefty increase in the last few days...might pull back to the 180's now....nothing keeps on going up forever.....

glad to hear it bb well done

well done rf - taken some myself also - good sense - see where we go now

think we seen bottom today now - looks like buyers returning for tomorrow - i mean who would wanna be outta gkp tomorrow morning?! lol!! last 30 minutes should be very interesting given whats happening - wonder where end today?

yeeeeeeeeeehaaaaaaaaaaaaaaaaaa

apparently therehave been so many queries to gkp rumour is there may be an announcement of a sort - we shall see

a day that started with much promise, but which turned into a very damp squib

Trust you cyners......lol

what ho young emu! .... hope you've got some of these - and AFR

OH yes!!

Weird day, it seems...missed most of the action as busy with other things...only a few pennies up at end of play....can't complain as this is a fabulous little company this (if you can call it little now)...