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.moneyam.com/action/news/showArticle?id=4412616

http://www.rudaw.net/english/interview/4993.html

http://iraqidinarchat.net/?p=7278

Time will tell ?

GKP Edison Note

http://www.mediafire.com/view/?b5zi2b4uuskqqw1

.

If you do some number crunching you get some wildly different figures based on the Edison report.

Recovery factor range is potentially large.

If you use a figure of 13 billion barrels of the famous GKP "OIP" (Oil In Place).


Run that with license percentage (54%) and Recovery Factor of 22%, but then GKP will only get 8% of the price of a barrel of oil (all PSC terms) - so taking the 8% into account you get :

13,000,000,000 OIP x 54% (WI) x 22% (RF) and times 8% (PSC) = Net "real value" 123 million barrels of oil to GKP as reserves.

-------------

Now run that calculation through with an 15% low end Recovery Factor, which is possible.

13,000,000,000 OIP x 54% (WI) x 8% (RF) and times 15% (PSC) = Net "real value" 84 million barrels of oil to GKP as reserves.



Is it any wonder the PI's love the big OIP figures and the "city" laughs at the lack of a recovery factor being given.

I think, being a cynic, we might not get to see any Recovery Factors forthcoming from GKP for a long time, the OIP figures look far more attractive than the bottom end potential of them actually getting the cash value of just 84 million barrels of oil from their OIP of 13 billion barrels.


IMO, DYOR, NAG etc...

From Iraq report......The third super-major to sign oil deals with Kurdistan, Total has bought stakes in two exploration blocks from Marathon, risking an existing contract with Baghdad.

I should stick to ramping fogl prick...oops pro

http://www.biztass.ru/news/one/33198 Gazprom paid in excess of $260mln for this blocks

"Gazprom oil" has signed with the Iraqi Kurdistan Regional Government two agreements to enter the draft, and Shakal Garmian
MOSCOW, August 1. / BUSINESS-TASS /. "Gazprom oil" has signed with the Iraqi Kurdistan Regional Government two production sharing agreements / PSA / blockwise Garmian and Shakal, located in the south of Kurdistan. This was said in the Russian company.
"Gazprom oil" in the projects will be a subsidiary of Gazprom Neft Middle East BV At present, these units continue exploration work at the end of which at least 2015 to begin production of raw materials.
In the project development unit Garmian "Gazprom oil" will receive 40 percent. Canada's WesternZagros, the other party to the PSA with a share of 40 percent, is operator of the project before the start of major works by agreement.
In block Shakal, in which the proportion of "Gazprom oil" will be 80 percent, the company will receive the status of the project operator. The share of the government of Kurdistan in the two agreements is 20 percent.
According to "Gazprom oil" resource potential of the two deposits exceed 500 million tons of oil equivalent.
Total payments "Gazprom oil" for joining the project, including compensation incurred historical costs, the order of 260 million dollars . Attributable to the "Gazprom oil" investments in exploration work within the framework of both projects is estimated up to 2015 no less than $ 150 million.
PSA regime provides for compensation for costs incurred by the investor after the extraction of raw materials in the fields.
"These projects will allow" Gazprom oil "to increase its contribution to Iraq's plans to build oil production, to obtain additional experience in this country and expand its presence abroad," - said the first deputy general director of Russian Vadim Yakovlev.

http://www.nation.com.pk/pakistan-news-newspaper-daily-english-online/international/02-Aug-2012/are-american-oil-companies-carving-up-iraq-after-all

in the long term, and possibly a lot shorter than that, i do not believe baghdad will be allowed to block the development of the kurdistan oilfields ..... the more international companies invest there, and it's certainly more than useful to see gazprom piling in as well as the amis, the less tenable becomes baghdad's intransigence

Until they get their new F-16's in Q1 2014 - at which point Iraq then has the power to deal with a "breakaway rebellious province".

so does one take it that you have a short position in these then?

and so it came to pass that the world listened to Mr Prostate, digested his pearls of wisdom .... and continued to buy gently into GKP

Still very high risk, imo and surely better return on investment elsewhere atm?

better risk than fogl i would have thought ..... afr surely remains a prime pick

But if your not in you may lose out........ am happy to lock away and forget as a long term investment rightly or otherwise, likewise xel and afr.,.

Proselenes do you honestly believe the US goverment will allow their F-16'S to bomb
the KRG into submission?
Perhaps a look at the Syrian situation and the Wests condemation of such action,coupled with the US companies operating in Kurdistan. A defindate no no umho.

niceonecyril, they will not be the USA's F-16's. They have been sold to the Iraqi government (who also control Kurdistan) and when delivery is made in Q1 2014 they will belong to the Iraqi's who can do with them what they want.

leave him be cyril ...... he likes his little make-believe world