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.

the amount of oil is almost irrelevant now - everyone knows there is a shed load there - gla and have a good evening

http://ir.mol.hu/en/kurdistan-region-iraq-akri-bijeel-block-operational-update-and-2012-outlook/

Looking at the trades there seems to be a determined effort to keep it below 190p?

The yanks are trying to keep low volume oil companies low. But for how long!?

http://presstv.com/detail/218122.html

this is the stumbling block - rather serious with yanks gone now....

'Economy: Violence and sabotage has hindered efforts to revive an economy shattered by decades of conflict and sanctions; Iraq has the world's third largest reserves of crude oil but attacks, tribal fighting, conflicts, corruption and smuggling have crippled exports '

gkp is serious high risk despite oil in place qtys...

gla

why would anyone expect a magic wand to restore meaningful peace in the region? ...... nevertheless, it will come to pass eventually, and GKP actually has proven massive reserves which will sooner or later be exploited

http://www.upstreamonline.com/live/article295784.ece

MOL beefs up Kurdistan spending

Hungarian oil and gas group MOL plans to spend more than $100 million on exploration and appraisal work at its Akri-Bijeel block in Iraqi Kurdistan next year as it targets an early development project.

Steve Marshall 28 December 2011 09:23 GMT

MOL said in a statement on Wednesday that a second exploration well, Bekhme-1, had failed to yield commercial flows but the result is unlikely to affect its estimate of unrisked recoverable resources for the block of 725 million barrels of oil equivalent.

The latest probe was drilled 20 kilometres east of the initial Bijeli-1 discovery, which earlier flowed 3743 barrels per day of oil and 99 barrels of oil equivalent per day of gas from Jurassic formations.

The group plans to drill two exploration wells next year – Bakrman-1 and Gulak-1 – for which test results are expected in the second half, as well as four appraisals - Aqra-1, Bijell-2, Qalati-1 and Qandagul-1 – with Aqra-1 set to be drilled in the first quarter. Two further appraisals are planned for 2013.

MOL currently has two rigs operating on the block.

A significant seismic programme is also planned over the area of the Bijeli-1 discovery, where an extended well test is scheduled to gather data on the reservoir’s productivity.

MOL said engineering, procurement , construction and commissioning work is ongoing to build a surface facility for an early development project, with first production expected at the end of the third quarter of 2012.

The facility will have production capacity of 10,000 boepd and storage capacity of about 30,000 barrels.

First oil from the full field development is anticipated in 2017 with output expected to peak at 64,000 to 76,000 boepd in 2019.

MOL is operator of the block with an 80% interest, with partner Gulf Keystone Petroleum on 20%.

Elsewhere in Kurdistan, MOL is also a 20% partner in the Shaikan block, operated by Gulf Keystone with 80%, where first oil is expected in 2015 after an early development project kicked off last year.

London-listed Gulf Keystone was recently reported to be the target of a possible £7 billion ($10.8 billion) takeover bid by US giant ExxonMobil on the strength of its exploration success at Shaikan.

so still the ill-founded reports of a t/o by exxon continue to be promoted ..... puff puff puff

2012 Tip from the "Times".

"My other oil pick will surprise many. Gulf Keystone is either the next big thing or the spivviest stock on the market, depending on which bulletin board you read."
What Tempus is inferring is he also has read Alphatwats thread comments which constantly have inferred this is a spivvy company. Tempus has clearly not been taken in by that or he would not have gone long of GKP.
As said by another poster, he is merely covering himself, he need not have , but overall it is a postitive article.

Happy and health new year to all.

A bit newS,surprise, surprise,"we have a rumour"

Russkies are interested and maybe a JV with MOL???

Thought you'd like thatt?lol

And from Spencers tweet,


Been faxed doc. proving upgrading Shaikan OIP P10, 20 Billion Barrels of Oil, P50 is 15 Billion B. (1P Reserves of 5 billion registered-PUD).

Rudaw: On your visit to the US, you met with ExxonMobil. Is it true that ExxonMobil has backed off of its oil deal with the Kurdistan Region?

Fuad Hussein: No, it hasn’t. On the contrary, they’re very happy about their contract with the Kurdistan Region and will continue their work here. Some Iraqi officials and some in the US as well tried to have the agreement revoked and pressured ExxonMobil for that reason. Our talks with the State Department and ExxonMobil’s officials convinced everyone that the deal was legal and constitutional and that it would be in the interest of Iraq and the Kurdistan Region. The Iraqi side failed in its attempts to revoke the deal and make Exxon Mobil back out of the contract.

Rudaw: During his visit to the US, Maliki said that he had spoken with ExxonMobil officials and that they had promised to revise the contract with the Kurdistan Region. Did that have any impact?

Fuad Hussein: As far as I know, while we were still in the US, Maliki discussed the ExxonMobil contract with American officials. He later told the media that he had discussed the issue with US officials, but he didn’t succeed in his efforts. In politics the outcome is what counts. So, ExxonMobil and several other major international oil companies will come to the Kurdistan Region.


http://www.rudaw.net/english/kurds/4286.html

From Carrillion on the uva bb:

Iraq: Maliki, KRG and cooperation with US oil companies (30 credits)

Posted on: Tue, Jan 03, 2012

The Kurdistan Regional Government (KRG) is said to be preparing to hold meetings with some major US oil companies including notably ExxonMobil, Chevron and Occidental Petroleum. The following 440-word report sheds light on the subject and tells what about these meetings. It also tells how the KRG expects Iraqi PM Nouri Al-Maliki to react to cooperation between the KRG and US oil companies.
_
http://www.tacticalreport.com/view_news/Iraq:_Maliki_KRG_and_cooperation_with_US_oil_companies/2397

Exxon getting some cash ready ?

http://www.reuters.com/article/2012/01/04/us-exxon-tonengeneral-idUSTRE80308N20120104

Exxon to sell Tonen stake in retreat from Japan: sources

Mon, Jan 2 2012

By Taro Fuse and Emi Emoto

TOKYO | Wed Jan 4, 2012 12:38am EST

TOKYO (Reuters)- Exxon Mobil (XOM.N) is in talks to sell most of its 50 percent stake in TonenGeneral Sekiyu KK (5012.T) back to its Japanese refining partner and unload other assets in Japan in a deal that could total $5 billion, sources with knowledge of the matter said.

The deal will mark a retreat from the world's third-largest economy by the U.S. oil giant, which is focusing its resources globally on exploration and production and shifting away from so-called downstream assets, such as its sales network in Japan...................

Also.

TOKYO (Thomson Financial) - Brazil's state-run oil firm, Petroleo Brasileiro
SA (Petrobras), will acquire a majority stake in Nansei Sekiyu KK, an Okinawa
refinery affiliated with US oil giant Exxon Mobil Corp, the Nikkei reported on
Friday.
Petrobras will acquire the entire 87.5 percent interest in the Japanese oil
refiner owned by Exxon Mobil subsidiary TonenGeneral Sekiyu KK, the business
daily said.
The two companies are likely to reach an agreement valued at several billion
yen this month, it said.

Anothe r4 million traded today,looks to being held at 190p,any attempt to break out,is
greeted with sustained selling?

ON THE MOVE. 195p+

I think we reached a high of £220 in a days trading before now, I doubt that GKP can be held back much longer.

order book looking very strong again too

Looks like news is coming :)