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://cnrp.marketwire.com/client/westernzagros/release.jsp?actionFor=1647854


WesternZagros Resources Ltd. (TSX VENTURE:WZR) ("WesternZagros" or "the Company") announces that it has been informed by the Kurdistan Regional Government ("KRG") that Gazprom Neft Middle East B.V. ("Gazprom Neft B.V."), has been assigned as the Third Party Participant ("TPP") for the Garmian Production Sharing Contract ("Garmian PSC"). WesternZagros is the operator of the Garmian Block, which contains the producing Sarqala-1 oil well, the Mil Qasim discovery and several promising but undrilled exploration prospects. Gazprom Neft B.V., is a wholly owned subsidiary of JSC Gazprom Neft, which is the oil producing affiliate of OAO Gazprom. JSC Gazprom Neft is headquartered in St. Petersburg, Russia, and is majority owned by OAO Gazprom.

http://www.theoilandgasyear.com/krgsrt2012/

Mood seems to be changing, 205p at present.



from the Forbes article:

''The result is that it’s game on in Kurdistan. Both Total and Chevron have indicated that they want to expand their positions there. Statoil is looking at opportunities. They’ll have to compete with a crowd of companies already there, like Sinopec, Marathon, Hess, Heritage Oil, DNO, Maersk Oil, and Gulf Keystone (which has found an estimated 10 billion barrels so far). Not to mention a passel of billionaire-backed ventures such as Ross Perot, Jr.’s Hillwood International, Ray Lee Hunt’s Hunt Oil, Jean Claude Gandur’s Oryx Petroleum as well as Genel Energy, which was bankrolled by Nat Rothschild and is run by former BP Chief Executive Tony Hayward. (Genel is the favored Iraq-leveraged investment of Deutsche Bank’s Adolff.''

http://www.hurriyetdailynews.com/iraq-lost-fight-against-arbil.aspx?pageID=238&nid=27479&NewsCatID=348

http://www.moneyam.com/action/news/showArticle?id=4425164

http://www.proactiveinvestors.co.uk/companies/news/46666/gulf-keystone-reaches-a-major-milestone-as-it-submits-a-declaration-of-commercial-discovery--46666.html

why no contribution from MrP? :-)

FOGL has risen more than GKP this week, and yet no contribution to the positive by Mr C is there.

LOL.

So you hold no FOGL and hold GKP.... we all know that, your kidding nobody with you "I hold some FOGL"..............

:)

has fogl actually risen more than gkp this week ..... quite surprised if that is so.
there is of course something very positive to post about gkp, but bugger all about fogl, other than drilling into the unknown will start imminently

anyway, not that it's any of your business, but in monetary terms i hold pretty much equal quantities of fogl, rkh and gkp, the last just shading it by perhaps 10% ..... and not that you would dare, but it would be very rash indeed of you to challenge my veracity

cynic he who dares wins..... gunga din!

Nothing positive....... LOL

Like Noble Energy have farmed in and made commercialization and future exploration very easy for FOGL now........... yes, of course nothing.

GKP have said that their commercial find at Shaiken is, wow, wait for it....... commercial.......... LOL

prattle on dear boy; it matters not at all

hi hali - does one assume that you and your merry men are heavily invested in fogl and other fi stocks? :-)

cynic not yet too early, we are not convinced with no material finds so far the majors obviously think there are easier and cheaper pickings elsewhere.

Who needs material finds when you can wear the Miss Pro rose tinted specs (with matching handbag) and, lo and behold, billions of barrels of oil appear.

i cannot disagree with you hali ...... indeed, if fogl gets overexcited prior to result, my intent is to bank half

The fact remains that the sp is vastly undervalued....just the uncertainty around Kurdistan that is holding back a dramatic rise in the sp......if only Bagdad and Kurdistan would make their peace...Iraq would be a better place for it....(...and the GKP sp as well).....

in due course that will most assuredly come to pass

part of a 3i well respecrted poster.



5. Mark Leftly and the KRG's 20% entitlement

This is about one of the - as yet undisclosed - 'unknown knowns'. i.e. what else did the KRG give Exxon to get them to 'sign up'? Over to you Mark Leftly, and this extract from article E:

======

"However, it is believed that the Shaikan field, which is estimated to hold an extraordinary 10.5 billion barrels of oil, is actually the subject of one of the six licences that Exxon has taken. The details of the six licences did not emerge on Friday. But, sources suggest that Dr Ashti Hawrami, Kurdistan's Minister for Natural Resources, plans to open today's conference by revealing the specifics of the deal.

It seems likely that Exxon has taken a 20 per cent stake in Shaikan. The Kurdistan government had an option of taking this stake once the field was proven to be commercially viable, and it is this that has been sold on rather than a portion of Gulf Keystone's undiluted 75 per cent holding.

Gulf Keystone owns other interests in Kurdistan, and sources close to the company believe that at least another two of Exxon's six interests relate to these fields. However, this could not be confirmed yesterday."

From MOL Half year report just released:--

End of page6/top of P7

Status of exploration and appraisal wells:
Bijell-3 (Aqra-1)-- under drilling -- Drilling started on 17 January 2012, depth at end of June was 3700m. Its actual depth is 4682 m.
Bakrman-1 -- under drilling -- Bakrman-1 well was spud on 7th of May 2012, depth was 1962m at end of June. Its actual depth is 2892 m.
------------------

Expected TD for Bijell-3 was 4,700m, so 18m to expected TD.

Expected TD for Bakrman was 3,600m so just over 600m to go there.


http://ir.mol.hu/sites/default/files/2012_H1_FlashReport_ENG.pdf

This holds above 2 quid then hmmmmm pile in.