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.

.

E&P News
Mirabaud Securities
13 December 2011



This morning Gulf Keystone (GKP LN) announced that it has completed the drilling of deep appraisal well Shaikan-4. The well has reached TD of 3,387 metres in the middle Triassic having encountered the thickest net pay count on the field to date (as announced on 5/9/11). We note that preliminary results from this well were incorporated into the November resource update and therefore todays news is unlikely to significantly impact field volumetrics. A number of tests are planned across formations in the Jurassic and Triassic, which will include tests on potentially new reservoirs in Sargelu formation sands and Barsarin carbonates.

At the Shaikan-5 deep appraisal well, drilling has reached 856 metres of the 3,500 metres planned TD. Currently the 20 casing is being set. The next appraisal well, Shaikan-6, is due to spud in December. This well will be the furthest step-out to the east, some 9 km east of Shaikan-2, and has a planned TD of 3,800 metres. Meanwhile sales from the EWT on Shaikan-1 and 3 to the domestic market have recommenced at a rate of 1,500-2,000 bopd, which was set to meet current domestic oil sales specifications. These rates are expected to increase significantly (previous recommendations suggested to over 10 kbopd) once the facilities upgrade is completed.

The company also currently has two exploration wells drilling. The Genel-operated Ber Bahr-1 has reached the top of the Triassic at a depth of 1,765 metres. Indications of hydrocarbons have been observed, and wireline logging is underway. On completion, drilling will continue to the estimated TD of 2,100 metres. At the MOL-operated Bekhme-1 exploration well tests are ongoing. The company expects the programme to complete later in the month, following which an announcement will be made.

While the appraisal results on Shaikan are encouraging, we are rapidly approaching the point where the upside in this asset is potentially capped by the 25 year life of the production license. The real excitement in this mornings announcement is from Ber Bahr. The seemingly cautious comment relating to this exploration well reflects the fact that information flow has been constrained by the operator Genel but we understand from GKP that the initial results are similar to those observed in early Shaikan wells. This suggests that Ber Bahr could be the groups fourth material discovery although test data will be crucial to determining reservoir quality and hydrocarbon phase.

The real excitement in this mornings announcement is from Ber Bahr. The seemingly cautious comment relating to this exploration well reflects the fact that information flow has been constrained by the operator Genel but we understand from GKP that the initial results are similar to those observed in early Shaikan wells

ilVoice | Iraq to Emerge In Near Future as Major Oil Producer: The Role of Kurdistan in the Renaissance of Iraq: http://bit.ly/rsG94S

Posted by CWC Group Limited on Tuesday, December 13, 2011 03:55

London (13 December 2011): Kurdistan Iraq Oil & Gas Conference was organised by CWC Group and opened by H.E. Dr Barham Salih, Prime Minister of KRG-Iraq. The conference took place on 13-15 November at the Saad Palace Conference Centre in Erbil, Iraqi Kurdistan. The event gathered over 600 delegates including senior industry executives and government representatives from the KRG and the Federal Iraqi Parliament.

The conference was the first event of its kind and it showcased Iraq and the Kurdistan region as the last frontier for oil exploration and emphasized how Iraq needs to maximize revenues in the shortest possible time to overcome the legacies of recent decades.

More than 27 distinguished Ambassadors and senior diplomats represented their countries at the conference. The Turkish Ministry of Energy was represented by the Senior Energy Deputy Minister who spoke about Turkey's position in the energy world. Turkey's Genel Enerji was among the first oil companies to enter Kurdistan.
The former BP chief executive and now CEO of Vallares, Tony Hayward, spoke of Kurdistan as one of the last great frontiers and highlighted the regions resource potential.

Kurdistan Iraq Oil & Gas Conference, described by Britain's Minister of Energy Charles Hendry as an invaluable opportunity for the many UK businesses was sponsored by Gulfkeystone, Dana Gas, Genel Enerji, DNO, Marathon Oil, Repsol, Kar Group, Oil and Gas Management Services, Iraq Oil UB Holding, Addax Petroleum, Afren, OMV, Oilserv, MOL, General Exploration Partners, Hess, Talisman Energy, Western Zagros, KS Drilling, VIKING, Range Energy Resources, Garda World, Mubadala and hundreds of other companies.

Charles Hendry also announced that As the country with greatest potential for increasing conventional oil production in the medium term, the trajectory of Iraqs future oil and gas production is of considerable importance to global energy markets and security.

H.E. Barham Salih, Prime Minister of Kurdistan KRG Iraq also referred to the event in his speech: Holding such a conference in Kurdistan was beyond anybody's dream, it was unimaginable to say, the least and thanked CWC Group for working to organize this conference.

The conference ended with the last session led by H.E. Dr Ashti Hawrami, Minister of Natural Resources, KRG-Iraq and Michael Howard, Ministers Communications Advisor who highlighted the positive message that the conference reflected to the Investors, and announced that CWC will be organising the 2nd Kurdistan Iraq oil and gas conference next year in November.

Location United Kingdom

Category Company News Release

I can't seem to get out of black type,any suggestions?

.

http://iraqidinarnews.net/blog/2011/12/13/nujaifi-promises-vote-on-oil-law-next-week/

Think it may change on new page cyril.,.

niceonecyril, go back to post 2024 and edit it and delete everything in the post, replace with a single .

Proselenes,thanks.

Mirabaud go on to spell out that GENL, the operator, "constrained" GKP from saying anymore. Then the big news that you would not expect - "but we understand from GKP that the initial results are similar to those observed in early Shaikan wells. This suggests that Ber Bahr could be the group's fourth discovery although test data will be crucial to determining reservoir quality and hydrocarbon phase"

I;m looking at taking a position in GENL,my reasoning being that i feel a result at Ber Bahir will have a bigger impact for them and it's "ISABLE".

My previous post was taken from this post,thought it worth pasting in whole.


part of a post by Dotbear (yesterday on iii)

BB will have nothing of note until the wireline logs are done, and obvious why GENL would not bother releasing anything as there's nothing really material to release yet. Wireline logging is uderway right now.

So why now?

Well, Mirabaud helped to fill in the blanks with their note. As they put it "The real excitement in this morning's announcement is from Ber Bahr"

This made me sit up and pay attention.

Mirabaud go on to spell out that GENL, the operator, "constrained" GKP from saying anymore. Then the big news that you would not expect - "but we understand from GKP that the initial results are similar to those observed in early Shaikan wells. This suggests that Ber Bahr could be the group's fourth discovery although test data will be crucial to determining reservoir quality and hydrocarbon phase"

I just thought 'HELLO !!' followed by 'that's going to p*ss off GENL'.

The information that GKP were not allowed to release by GENL is released by GKP's broker the same morning!!??

Possibly company changing news, that could be confirmed within weeks at the most, given that the well is approaching TD - something else the BB update told us.

Why would they do that?? What's the hurry suddenly?

No news for weeks and then a sudden rush to push out anything and everything, and in particular the biggest possible news.

There was no operational need to squeeze out the BB news in that way. It is only weeks away from being released by GENL in one go, complete with flow rates and TD (or news of drilling deeper perhaps).

It is my belief that GKP needed to release this information to make certain all shareholders were aware of the potential major increase in known assets that could occur within a short period of only weeks.

BB with oil horizons equivalent to SH-1 would be a major step forward for GKP and if GENL continued with an aggressive drilling campaign, then it could be proved up fairly quickly, adding hugely to GKP OIP.

Any potential buyer of GKP would also realise that the company would be more expensive and it would be much harder to persuade shareholders to part with their shares cheaply.

GKP may have wanted to release this information to retain major shareholders and persuade them not to sell out to a predator cheaply. Equally, once in the public domain, the information could provide them a great deal of negotiating power in the event of any unofficial talks that might be ongoing.

GKP are certainly playing the game with all the pieces available to them.

Will it be enough to allow some more assets to prove up before a sale of the company?

A universally agreed draft oil law may well be all that will be needed now to spark off the sale.

Will the KRG/ICG still take up the 2007 law if they can't agree anything else?

Who needs to ask for books as gifts over the holidays, just keep reading these boards and lots of stuff about Kurd politics. Better than the latest bestseller for intrigue, twists and double crosses!

All the best

Dot

BARCLAYS OIL AND GAS FOCUS

December 14th 2011

By Andrew Stannard

"CHRISTMAS CRACKERS"

The AIM market has suffered like its FTSE big brother an uncertain year
but there are many gems on offer for brave investors looking for
excellent returns this christmas and new year.The aim resources sector
looks seriously oversold and now looks poised for a good recovery.
I have identified four stocks that could show impressive near term
growth to help your xmas go with a bang !


Gulf Keystone Petroleum * ( GKP )

SacOil Holdings Plc * ( SAC )

Victoria Oil and Gas * ( VOG )

Desire Petroleum * ( DES )

http://abcnews.go.com/International/wireStory/iraq-bomb-attacks-force-drop-oil-production-15151554#.Tuiy4GOgmWR

Dont know if you guys seen this today,was on advfn earlier.

bob


BARCLAYS OIL AND GAS FOCUS

December 14th 2011

By Andrew Stannard

"CHRISTMAS CRACKERS"

The AIM market has suffered like its FTSE big brother an uncertain year
but there are many gems on offer for brave investors looking for
excellent returns this christmas and new year.The aim resources sector
looks seriously oversold and now looks poised for a good recovery.
I have identified four stocks that could show impressive near term
growth to help your xmas go with a bang !


Gulf Keystone Petroleum * ( GKP )

SacOil Holdings Plc * ( SAC )

Victoria Oil and Gas * ( VOG )

Desire Petroleum * ( DES )



Click for more details and Pdf *

cheers from iii

Re: Bekhme-1


Hairy Palmer

10


Hello,

I sent this to MOL to see when the results would be announed...pretty decent guy, replied within the hour :-)

From: Horvh
To:
Cc: Benke Richd
Date: 12/14/2011 02:22 PM
Subject: RE: Kurdistan Operations Bekhme-1

Dear XXXX,

Drilling of Bekhme-1 well already finished.
(Drilling was started end of March, as it was announced http://ir.mol.hu/en/spud-bekhme-1-exploration-well-%E2%80%93-akri-bijeel-block-kurdistan-region-iraq/ )
The test is ongoing and final result is expected to be announced later this month.

Best regards,
Horvh

http://www.france24.com/en/20111213-barham-salih-prime-minister-iraq-kurdistan-regional-government

Thu, 15 Dec 2011
Commercial Court List

ROLLS BUILDING
COURT 27..
Before MR JUSTICE BURTON
Thursday 15 December 2011
At 10:30
Part Heard
2011-95 Nomihold Securities Inc v Mobile Telesystems Finance SA
At 14:00
2010-1517 Excalibur -v- Texas Keystone
2010-1525 Same v Same

http://bit.ly/upj3aq