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.

http://www.thisislondon.co.uk/business/business-news/gulf-keystone-bid-hope-7583419.html

it would have been nice to see sp heading north then!

cynic the market seems less than convinced.

Predicting Iraq’s future

me too ..... i'm sure there's a lot of y/e profit-taking, and one either lives with it or chucks in the towel - for me the former

Patience it will evenually,predicted to bounce off 250p? Fully loaded myself,otherwise i'd be topping up.

Worth considering this weeks news flow and info.

We have the presentation,which says BB is a discovery and at LEAST 16 Billions barells of oil,over all the blocks.
TK and his team spent a week in Hong Kong(China),revealed by Court records.
And the EXIT Event Awards RNS.
Quite a possitive week imo,the negatives for me the political situation and the
Excalibar claim, reasons why i'm sticking with what i've got.

Director dealing, means no news close.

Arabian Oil and Gas.com

KRG threatens Baghdad with export shutdown
by Patrick Osgood on Mar 26, 2012

The Kurdish regional government (KRG) is escalating its spat with Baghdad over oil payments today, issuing a statement confirming that supplies to the Iraqi export network have been cut by half to 50,000 barrels of oil per day (bpd).

A drastic cut from the figure of 90-100,000 bpd given as recently as 15 March has been justified by the KRG on the basis that around $1.5 billion is already owed to the region under an agreement struck between the central and regional government, which is needed to fund oilfield development.

“Because of the production costs and the re-investments needed by the producing companies in the Region, the MNR has reluctantly decided to reduce exports to 50,000 bpd with a view to possible cessation in one month unless payments are forthcoming,” the spokesman for Ashti Hawrami’s Natural Resources Ministry says in the statement. The region’s commitment to Baghdad under the 2012 central budget is 175,000 bpd.

both sides still think they're in the hussars = so much sabre-rattling

Gulf Keystone director sells quarter of a million shares
Mehdi Varzi, a Non-Executive Director of Gulf Keystone, the AIM-listed oil and gas explorer, has sold a quarter of a million shares.

Varzi, who has been on the board since 2008, sold 257,347 shares at 254.17p each for a total of £654,099.

Earlier this month the firm reported that the testing programme for the Shaikan-4 appraisal well remains ongoing, with six out of seven planned tests completed to date. So far aggregate flow rates in excess of 14,000 barrels of oil equivalent per day have been achieved.

By Ben Van Heuvelen of Iraq Oil Report
Published March 29, 2012 The Kurdistan region's refinery expansion plan is giving it a buffer against renewed oil export disputes with Baghdad and providing a much needed revenue stream for companies investing in oil fields.

The foreign companies operating under controversial production sharing contracts awarded by the Kurdistan Regional Government (KRG) get around $60 per barrel under a domestic sales deal, sources said.

This revenue reduces the KRG's reliance on Baghdad, strengthening the semi-autonomous region...

sorry have no more.,.

Exxon kicked out of the May auctions for being involved in Kurdistan.

http://www.google.com/hostednews/ap/article/ALeqM5hVN0C2ZGem0GdbM_80BxExQ4GPEQ?docId=695787f9e29d45b996055acc57878260


Throws the licenses in the north all into a mess again and shows the Iraqi Oil Ministry means business and its not perhaps going to let the Kurds get away with what they are doing perhaps.

Kurdy stocks all going down it seems. Certainly throws the chances of any payments for exports totally out of the window for the future.

No wonder Mehdi Varzi sold 3 weeks ago, he knew this was coming. SELL.

and how do you square that with your post on AFR then?
i'm afraid there will be many vicissitudes (emu's word for the week!) connected with stocks in this region, but eventually the berks in baghdad will come to an accommodation with the nerds (turds?) in kurdistan

cynic all bets will be off if there is a civil war.Not a country worth investing in too much high political risk.

but then you think TLW is a crock of shit too, but so far i don't think you have told us what (quality) oilies you and your merry men have put money to

cynic try to be realistic the sunnis are not coperating with the dominant shia so ultimately the country will break up after a civil war.

all sorts of internecine strife is both potential and even actual in a number of serious oil producing countries ..... nigeria is a prime candidate, and certainly yemen, though their production is on a much smaller scale

I would imagine significant fall out to Kurdistan exposed companies if Exxon do cancel the contracts. They can play this now, if they want, by asking what they get in return for canceling the Kurd contracts, what will the IOM offer to them ? If the IOM offers them something nice I am sure they will perhaps happily cancel their Kurdish contracts.


http://www.kurdsat.tv/news.php?id=634&type=kurdistan


............Exxon last month told the government last month that it froze its deals with the KRG, but the government wants the deals completely canceled.

"We want more action from Exxon," said Sabah Abdul Kadhim, deputy of the Iraqi Oil Ministry's petroleum contracts. "We want Exxon to cancel its Kurdistan deals."

Abdul Kadhim warned that Exxon could face further action if it didn't terminate its deals with Kurdistan. He didn't explain what action would be taken, but he is thought to be referring to West Qurna-1..............

Worth a read - when you have spare time as its rather long.

http://www.crisisgroup.org/~/media/Files/Middle%20East%20North%20Africa/Iraq%20Syria%20Lebanon/Iraq/120-iraq-and-the-kurds-the-high-stakes-hydrocarbons-gambit.pdf

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