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.

Another take on thursdays CC,investors vertion.


ALL RISE for the CJ
imitch37
127
Where to start?
Firstly, it is an obligation not a favour by those who attend to report back to the genuine GKP shareholders.
Anything of benefit must be always shared if it helps others in life, keeping knowledge to one’s self makes the knowledge non-beneficial.
Back to the meat:
I will be objective and fair (those who were present, please correct me if I post anything that is misunderstood, biased or wrong), Thanks.
Personally speaking, EXC. Has no official contract or agreement with GKP or Texas, by that I mean, nothing legally binding. They were offered the chance many times to participate and they did not rise to the occasion. If your % participation is zero then your working interest or claim is also BIG FAT ZERO.
The KRG did not want EXC. TK did not cut them out or stole anything, he wanted them in in the first place. I also believe that TK would not make anything up about the KRG, he knows better. After all, REX was saying KRG wanted a US based company to get involved, if he thinks the KRG did not say or do this, he could’ve gone back to them to ask since he was the introducer and had the contacts. Bullet points are better for focus: forgive me if it is not in the right order please

• An important point was made by GKP’s lawyer that in English law: a negotiation or draft of agreements (joint ventures) that are changing all the time and not legal contracts do not carry much weight because they are deemed misleading and unhelpful
• Indeed GKP or TK wanted all along to include EXC. But they couldn’t come up with anything when it really mattered, specially at the signature of contracts where fees had to be paid upfront in full. GKP did pay their part at the time, they took the risk.
• Rex was asking TK to carry him and that he would pay later, TK of course couldn’t do that for obvious reasons. But he did offer REX an extra 60 days as a favour
• True that REX helped with the acreage business, but he was not an introducer, he wanted to be a partner, you can’t be both
• Our lawyer said you can’t come later and say you wanted to invest when the clouds have cleared a little
• EXC. Are claiming as their lawyer put it “were cut out” so far I have gathered that they were not, it was their choice and it was repeated again today that REX did not mind
• An exchange of email between the two brothers took place and REX was told take a buy out for $5mn dollar “1 bird in the hand……”, REX said he’d rather sell 85% of 30% of the alleged 80% and keep 15% of the 30% of the 80% to which his brother said even that is hard to pay for. I thought to myself, damn right, you are only a soldier for god sake (this is just a personal thought aloud)
• He even went behind TK’s back and offered his alleged share at the agreement negotiation stage, which is not a contract by any stretch of the imagination, to MOL for $5mn. MOL was furious and had to explain to MOL. Also the lawyer said there was a heated exchange with REX by TK about that and it was said the price went down, i.e. the 5ml was now less than that
• Even TEXAS was not obligated to EXC. After the contracts were officially signed by the GKP with KRG. TEXAS did not have to explain to EXC. About any unilateral agreements with the other parties
I am trying to remember many things from memory, there was a lot more reference to documents which I’m sure other attendees must’ve mentioned.
If I think anything else is relevant, I’ll post it

thank you for the above ..... it would seemingly bear out what i have been saying for a while - excalibur's owners are just carpetbaggers ...... i wonder if they were obligated to put a bundle of cash into court, to give some sort of comfort that this was not just a vexatious action

Russian companies getting out of Kurdistan, Russian companies selling lots of weapons to Iraq.

US companies moving out of Iraq and into Kurdistan.

Says to me mid term the Russians will build up the Iraqi military with lots of planes and weapons and then within 24 months Kurdistan will be "sorted out" as the renegade province of Iraq that it is today with its middle finger attitude that it has to the Iraqi central government.

All the Iraq's have to do is keep disputing the Kurd contracts as illegal, and then when they invade and take over all the contracts issued by the Kurds can be canceled immediately without any worries.

http://www.thedailybeast.com/articles/2012/10/20/russia-angles-for-more-mideast-influence-by-selling-arms-to-iraq-and-buying-its-oil.html

.

so why don't you short the stocks, which clearly you have not, instead of just gibbering?

Is this a case of denial Mr C.? Kurdistan seems to be a high risk area atm and no one really knows what the outcome is going to be. AFR, GENL, GKP, EXXN and others may all have to pack their bags. In which case that may be a very good reason for staying out, rather than shooting the messenger.

Well Mr C. has been seen on here to not lock in a profit, not sell and take profits in cash, but to hold on and lose the profit - something he seems to get very emotional about if others do not sell other stocks to lock in profit - but then he fails to do so here.

And also as you say, not appreciating the high risk here (as he is holding) while openly slagging other stocks due to their "risk".

Looks like Mr C. does in fact suffer from "very rose tinted specs" syndrome.

Any stock he holds its a great stock and no need to sell and have to buy more and more and its low risk.

Any stock he does not hold is high risk, sell and take profit quickly, why buy more and by the way I hold a "few" so I am not deramping........ honest guv..........

i have no problem at all in members various taking a pop at me from time time, as that is inherent with with keeping one's head above the parapet .....

however, P has selective vision re my holdings and profit/loss taking .... indeed kurdistan is a fairly high risk area, but the same can be said of any region within m/e and that definitely includes saudi where there has long been a strong fundamentalist and pro al qaeda faction

for the record, i hold AFR and and GKN but not the other two ..... and i think the former is a stronger bet than than the latter, but am happy to stay with GKP until i feel otherwise

and i raise the almost rhetoric question again as to whether P has had the balls to back his mouth with money by shorting GKP and/or others in the region ..... after all, both he and hyleo reckon it is only a matter of months (that timescale seems to have moved out of late) before the whole region explodes, on their theory, because the russians are ratcheting up the tension in iraq .... in fact, it is syria that should cause far greater concern, where yet again the muslim league shows itself to be lacking even gums

Cynic is getting his knickers in a twist... he can't even differentiate GKP from GKN
(not a keyboard error - N is not even next to P on the keyboard)

One things for sure, fogl will be 50p quicker than gkp....... what a loss they're carrying.,.

ah well, i'm so old i remember when GKN was known as Tubes, with some inevitably thinking they were investing in london's infrastructure

===============

of peripheral interest, but for those who like to monitor whether or not i take sensible profits or cut losses, my average price for GKP (sic!) is 221.75

Harry shooting the messenager,or challenging a possible shorter,paid de-ramper? He only pops up when the SP looks weak and is trying it on another board(getting no change)under the name Pro-S2009.To engage him is to encourage him,that asidei will just say this,the USA gave blanket air cover for the Kurds in the past and can't believe that they will not do so the the future and will not provide F-16s to carry out a Syrian style
massacre. Libya was defended and guess what,OILL,BLACK GOLD.
Yes we know the area is risky,it's our decision,but all stock would suffer if things turned nasty in the ME with the biggest threat of war coming from Israel?
AIMHO
That's my last on the issue.

don't be a spoilsport cyril :-) !
i happen not to agree with you about israel being the most likely to spark serious conflict .... whatever that gov't's failings, they are much more subtle and devious, whatever their public pronouncements - for domestic consumption ...... however, syria looks to be a totally loose cannon which no one is willing to tether ..... clearly hezbollah + russia/china continue support assad for whatever black reasoning, and as i stated above, the muslim league which is supposedly exists as a stabilising influence/force is even more spineless than a jellyfish

Back to GKP,Investor Chronicle gives us a Buy reccomendation this weekend. Lets see what comes out of the CC(the reason for present weakness imo?) today,GKP's Barrister (who is coming across as top draw)asking the questions.

Libya was defended....... yes.... with UN SECURITY COUNCIL agreement, as per the law.

Russia has UN VETO power.......... which is why while Russia so ok to Libya, Russia has said NO WAY to Syria response........ and so the UN and the US can do nothing about Syria as Russia has veto power on the UN SC.


So if Russia is embedded with Iraq central government and sold all the weapons to them, do you think they will say "ok" to any US or UN action should the Iraqi's decide its time to stop the rebellious province of Kurdistan. And do not forget, its an INTERNAL issue as Kurdistan is only a province of Iraq...... nothing more.


The mandate for UN and US action in Iraq is over....... and they can do nothing now should the Iraq's decide (once they have the new weapons) to sort out the Kurds and their middle finger waving at the moment.

Don't worry cyril. I am aware of the agendas of the most prolific posters, but nevertheless, Kurdistan has great potential coupled with great risk. Personally I would not be comfortable with having a large stake (more than 10% of portfolio value) in any company which only has exposure to Kurdistan, which is why GKP worries me, as they are strategically withdrawing from Algeria to focus entirely on Kurdistan. AFR & GENL at least have other strings to their bows.

Harry yes care and not over-exposed is without doubt the best option,but GKP does offer the chance of some serious gains. I can't see Tony Haywood being in KRG unless he was very conifdent,same goes with the other major plyers.

per the above 2 posts, that is no doubt why AFR continues to perform steadily stronger, while GKP is floundering about while this court case is resolved ..... meanwhile, GNL is performing strongly which may give an indication as to where GKP will head, always assuming a satisfactory result in court

A few posts from todays CC.


from pj66 on iii (at court).

post: 'gasps from the cheap seats':

"Email from EW to RW

F*** him , his wife and kids

Bury the B' stewards

Wow!"




Many thanks to B19400 for his efforts--

'13:09
Re: Court 15 - Day V
B19400
JG continues by showing that TKI & GKP are distinct. TKI is no puppet.

Assignment. A matter if inference from Excalibur. Without assignment, GK are free to bid for what they want.

Then we heard details of a couple of emails between the Wempen brothers. One saying "they probably won't find oil"; the other, profanity laden, suffice to say they don't like Todd!!

Next an email from RW where he appears to misrepresent his position at UBS regarding funding. UBS were never intending to funds Excalibur.

Previously we heard Excalibur's claim that GK cut them out of the deal. JG read out a series of email whereby GK actually wanted Excalibur to farm in because funds were tight. As we know Excalibur could not get any funds at all'


Again, from triple i:-

B19400 13:09

Re: Court 15 - Day V JG continues by showing that TKI & GKP are distinct. TKI is no puppet.Assignment. A matter if inference from Excalibur. Without assignment, GK are free to bid for what they want.Then we heard details of a couple of emails between the Wempen brothers. One saying "they probably won't find oil"; the other, profanity laden, suffice to say they don't like Todd!!Next an email from RW where he appears to misrepresent his position at UBS regarding funding. UBS were never intending to funds Excalibur.Previously we heard Excalibur's claim that GK cut them out of the deal. JG read out a series of email whereby GK actually wanted Excalibur to farm in because funds were tight. As we know Excalibur could not get any funds at all.

ries
22 Oct'12 - 13:13 - 233500 of 233500

sounds better than Magic Roundabout, or even Corrie or Punch and Judy on Swanage Beach :-)

WOW....loved Swanage Beach......... family holidays back in the 70's!! I bet it has not changed.