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.

Taken from another board.

Went to court today. Totally fascinating and feel more comfortable with my investment than ever. I do think that the Wempens probably did have a case for partnership back in 2007 but it is very clear from the evidence i saw today and previous notes from our resident scribe (BBB5) that they didnt have any funding in place or any chance of any funding. at least, not until Prime turned up!

From the emails and Rex's comments, they were desperate to try and resurrect any part of the deal come the end of 2007 that they would have accepted anything!

I strongly believe that the true question is - would any funding they now have been available to Excalibur before GKP struck oil? the answer to that would simplify this case somewhat and i presume that our defence will be asking that at some time.

I can say that Rex appears to be frustrating both our defence and the judge with his slow uptake and seeming lack of understanding on the questions being asked but i dont think he is anywhere near as stupid as he makes out.

all above are my own musings and i am trying to be as objective as possible.

-------------------------------------------------------------------------------
This was one of the exchanges reported by HairyCapers on iii:

JG: Hypothetically would UBS take on Excalibur if one of the partners had been to prison for fraud, or serial money laundering?
Rex: If the deal is good enough

Does anyone know if Rex has a record?

http://www.iii.co.uk/investment/detail/?display=discussion&code=cotn%3AGKP.L&it=le&action=detail&id=10189709

Mol presentation. Mol saying Shaikan reserve booking possibly before year end? MOL usually very slow to give info!
Shaikan.
COMMERCIALITY DECLARED
Development program due by February
Successful discovery and completion of five well appraisal program, crude from 16 to 52 API
Declaration of Commerciality submitted in August 2012
Possible reserve booking already in FY 2012
EPF in operation since 2010, capacity increasing ongoing to gross 40 thboepd
http://ir.mol.hu/sites/default/files/hu/2012/MOL_IR_DAY_2012_NOVEMBER_15.pdf

basment1

PAGE 53 of MOL Presentation.

http://ir.mol.hu/sites/default/files/hu/2012/MOL_IR_DAY_2012_NOVEMBER_15.pdf

Mentions:

Fresh (karstic) water in Jurassic reservoirs;
increasing salinity brine in Triassic reservoirs, water
drive possible

And:

BBBS from 2010:

"The big picture in terms of regional aquifer is now being postulated as far as Akri Bijeel. So we now have data points left (JK) and right (AB) of Shaikan that supports Shaikan's Jurassic OWC. When/if the OWC is proven to apply in Shaikan - the OIP will immediately approach the P1 figure. Now of course, it can only be proven for sure, when pressure data from both the oil and water legs are measured in the same well - i.e. the well would need to actually penetrate the OWC. SH-2 will tell us more. But, MAYBE, Hunt's Simrit well has already answered the question. It is certainly located at about the right place to do


">

http://gkpinvestor.proboards.com/index.cgi?action=display&board=analysis&thread=1645&page=1#ixzz2CNQrYkry

(page 17)

GKP barrister: "The key demand on the Keystone side was that you needed to have the money available. How is UBS at your elbow going to change that?"

Rex Wempen: "Perhaps it was a false hope. I hoped that Todd would relent"

GKP barrister: "What you are overlooking is that you had told Gulf several times that UBS were your primary sponsor (13 November).... YOUR'RE MAKING THIS UP"

Rex Wempen: "I don't believe so"

Judge: "If UBS had agreed to be your Financial Adviser, te most you could say to Mr. Kozel is that they are helping us to structure the deal but they aren't going to pay any money"

Rex Wempen: "Yes my Lord"

Judge: "Therefore they are advisers in a deal that you couldn't finance"

Rex Wempen: "My network was small but the record shows that it was effective"

(usual caveats apply)

16/11/12 17:08 174.829 25,685 O 172.25 173.25 Buy 3,118,464 2,699,062 54,340
16/11/12 16:59 177.021 35,291 O 172.25 173.25 Buy 3,092,779 2,699,062 54,340
16/11/12 16:57 173.678 100,000 O 172.25 173.25 Buy 3,057,488 2,699,062 54,340
16/11/12 16:49 178.029 15,322 O 172.25 173.25 Buy 2,957,488 2,699,062 54,340
16/11/12 16:40 173.628 885,000 O 172.25 173.25 Buy 2,942,166 2,699,062 54,340
16/11/12 16:35 172.25 64,649 UT 172.25 173.25 Sell 2,057,166 2,699,062 54,340

Shwan Zulal ‏@ShwanZulal
Sangawi; "Zaidi threaten to use force tomorrow and if so we will retaliate with overwhelming force to defend ourselves"
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4h Shwan Zulal ‏@ShwanZulal
Sangawi; "Dijla commander Zaidi threaten to use helicopters & ground forces to arrest & integrate Kurdish party members involved in incident
Expand

4h Shwan Zulal ‏@ShwanZulal
Hard to tell what exactly going on but nevertheless worrying times. Kurdish forces apparently mobilized and heavily armed near Tuzkhwrmatu.
Expand

Shwan Zulal ‏@ShwanZulal
Today's events in Tuz Khurmato is rapidly developing into crisis as Peshmerge on high alert and a force said to be on its way from Baghdad
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The CC big as it is maybe small fry soon ? Not that I am worried LT but London will not like shots been fired.

LOL

Might be some skirmishes, the real aggression will only start once the Iraqi's get their new planes and heavy weapons.

Anything that happens now is just small scale - but yes, it might scare UK investors into finally realising that Kurdistan is a massive political risk.

http://edition.cnn.com/2012/11/16/world/meast/iraq-violence/

http://www.dailystar.com.lb/News/Middle-East/2012/Nov-17/195308-new-iraqi-army-hq-fuels-arab-kurd-row.ashx#axzz2CTHDFkV3

http://uk.reuters.com/article/2012/11/16/uk-iraq-oil-westqurna-idUKBRE8AF1AK20121116

.

http://www.shafaaq.com/en/news/4093-washington-offers-deploying-its-troop-in-the-disputed-areas-.html

Washington offers deploying its troop in the disputed areas

Sunday, 18 November 2012 09:49

Shafaq News /An informed Kurdish source said on Sunday, that Washington entered on crisis line after forming Dijla forces between Baghdad and Erbil to end it, while offered to re-deploy the U.S. troops in the disputed areas and considered the armed clash with Peshmarga troops as a “red line."

The source said in remarks quoted by a Kuwaiti newspaper, and briefed by "Shafaq News", that" U.S. diplomats in Baghdad have begun contacts and meetings with the two parties, (Prime Minister Nuri al-Maliki )and (Kurdistan Region’s President Massoud Barzani) to end the problem and reach a joint agreement to manage the disputed areas. "

"One of the submitted solutions is to re-deploy the U.S. forces in the disputed areas to ensure there are no clashes between the army and between the Kurdish Peshmarga", adding that "al-Maliki rejected this proposal."

He added that "Washington does not oppose to re-deploy its military forces in the region if the disputes parties wanted that," stressing that "U.S. Vice President , Joe Biden responsible of the Iraqi file is excited for this step because the U.S. administration will not allow the outbreak of any fighting between Baghdad forces and Erbil forces on the basis that any development represents a severe strike to the United States, which supported the political process in Iraq for nearly ten years. "

The source pointed out that "Biden told Maliki that the armed clash with Kurdish Peshmarga is a red line", warning that "U.S. forces will intervene in the event of the outbreak of fighting in Kirkuk and any other area."

"The U.S. National Security Chancellery is convinced that the movements of al-Maliki to impose his military control on Kurdistan is due to the Iranian and Syrian regimes," adding that "moving in this period under the name of Dijla Operations Command established by Iraqi Prime Minister aims to undermine the Turkish influence and countries in the Gulf Cooperation Council’s influence, which has grown dramatically in Kurdistan Region recently . "

The disputed areas between Erbil and Baghdad witnessed major security tensions after the government announced the formation of Dijla Operations Command, which has subjected the army and police forces in Kirkuk, Diyala and Salahuddin provinces and Erbil’s rejection of these forces because no one discussed the matter with it when it was formed.

The armed clash occurred between the guards of one of the headquarters of Kurdish parties in Tuz Khurmatu district in Salahuddin province and a force of the federal police on Friday, killing one civilian and wounding ten police

The US can offer what they want - the Iraqis will say "sod off its our country and we run it, not you".

In other words as the article says, the Iraqi's said "no thanks, no need for US troops".

Kurdistan is just a province of Iraq, like Texas is in the US. Wonder if the Iraqi's offered to send troops into Texas the US would say yes or no.

I feel the Israeli action in Gaza is to weaken Hamas so it poses no threat when Iranian nuclear facilities get bombed before too long.

Personally I would be very wary of all things middle east for the foreseeable future, things are going to get very rough - forget the court case and Kurd/Iraq skirmishes, bigger things are there than that.

http://online.wsj.com/article/SB10001424127887323551004578123042469361174.html

.

from another board,to our de-ramper.


Pro

I suggest you stop knocking GKP ( and CHAR) and at the same time ramping FOGL. No LT holder here is going to sell GKP and buy FOGL - your objective. Ditto CHAR I suspect.

Thing is I am not "ramping FOGL", hardly even posting on it.

It looks to me like many people are so emotionally attached to GKP they are in love with it and holding it all the way through into massive losses.............

Never ever fall in love with a stock, never think that the grass is soon to be green. This just shows how emotionally attached and very insecure some people are.......they really should not be investing in stocks.

FOGL and Mr P
since 1st november, 44 posts in total of which 14 from MrP = very nearly 33% .... thus "hardly ever posting on it" does not remotely stand up to scrutiny

http://www.dinarupdates.com/blog/

Washington suffered its troop deployment in the disputed and longer engagement with Alپeshmrگh “red line”

Twilight News / source said KORDI early, on Sunday, that Washington entered on line crisis raised far shaping forces Tigris between Baghdad and Erbil to end it, as offered re-deployment of U.S. troops in the disputed areas, promised firefight with troops Alپeshmrگh “red line.”

The source said in remarks quoted by a Kuwaiti newspaper, and seen by “Twilight News”,“U.S. diplomats in Baghdad have begun contacts and meetings with the parties, (Prime Minister Nuri) al-Maliki and (Kurdistan Region President Massoud) Barzani, aimed at ending the problem and reach a joint agreement to manage the disputed areas. “

The source noted that “one of the solutions is to re-deployment of U.S. forces in the disputed areas to ensure there were no clashes between the army and between Kurdish Alپeshmrگh”, adding that “al-Maliki rejected this proposal.”

He added that “Washington is not opposed to re-deploy military forces in the region if it wants parties to the dispute in that,” stressing that “U.S. Vice President Joe Biden on the Iraqi file excited for this step because the administration would not allow the outbreak of any fighting between forces of Baghdad and the forces of Arbil on the grounds This development represents a severe blow to the United States, which sponsored political process in Iraq for nearly ten years. ”

The source pointed out that “Biden told Maliki that the armed clash with Kurdish Alپeshmrگh is a red line”, warning that “U.S. forces would intervene in the event of the outbreak of fighting in Kirkuk and any other area.”…

*Washington has apparently decided to step in again…it’s about time. They are working on diplomatic solutions but have finally given Maliki some serious ultimatums. The VP told him that any attack on the Kurds would not be tolerated. We would intervene…also he had previously “offered” to send US troops back to “get between” the Kurds and the Iraqi Regulars. Notice Maliki wanted none of that idea…a response directly contrary to his babble in the media a couple of days ago. Looks like to me they are finally forcing his hand and not letting him just stand there and talk… *

-

personal comments of the informed blogger are penned by *

http://pukmedia.co/english/index.php/77/kurdistan-region/3089-peshmerga-confirms-end-of-tension-in-separated-area

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Policy
Erdogan's Kurdish leadership and the new agreements

11/18/2012

Prime Minister Recep Tayyip Erdogan of Turkey and the Kurdish Regional Government signed new agreements in the field of energy, he said. Quoting regional government uses its authority and efficiency, Erdogan said that the central government is not a condition to be disturbed.

Prime Minister Recep Tayyip Erdogan held a press conference at State Guest House Ataturk Airport before his trip to Egypt. Providing information on the meeting, Erdogan to visit Egypt, then answered questions from members of the press on the agenda. Members of the press began to approach the winter months, and in Syria, Erdogan on how to ask to live in a development, the container need to continue to take measures to the maximum that can take on the tent camps, he said. Erdogan, founded in Van after the earthquake and permanent housing delivery in the Kahramanmaras and Gaziantep then routed to an idle containers passed.
Meeting with Barzani
Dolmabahce Labour Office, talks with the Kurdish Regional Government Prime Minister Nechirvan Barzani hatırlatılıp on to ask whether there will be a new collaboration with northern Iraq, Erdogan had discussed these issues with Nechirvan Barzani yesterday and the reviews said they did. Energy and Natural Resources Minister Taner Yildiz, Minister of Natural Resources in northern Iraq with the work they are doing and signatures Asht Hawrami was taken in large transfers Erdogan, "What can be done for both crude oil to natural gas, the work was done on it. Here, the fact that the central government would have to suffer something that was not mentioned. Northern Iraq in their own potential, to do within the area of their savings are doing it anyway. Other than that, anything that is not already. While they themselves are doing it to us in the field of saving us, when crude oil gasoline, diesel fuel is processed products, such as. Continue to work with them about it. "He said.
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Not exactly sucking up to the Yanks?


The Kuwaiti News agency also reported that Joe Biden also warned Iraqi Prime Minister last week not to release Ali Musa Daqduq, a Hezbollah operative responsible for killing of American troops in Iraq. However, Baghdad officials released the prisoner on Friday.