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.

SheikhyDave 16 Jan'13 - 18:51 - 1485 of 1486 0 0

After taking note of several comments on iii yesterday about the asset sale being bad for GKP's board of directors as they have large share holdings, I have put this point to the people who gave me the information.
It seems the decision to transfer the PSC's directly from GKP to the Turks for cash rather than as a result of a GKP buyout is one that was taken by the KRG not GKP. It was necessary for valuation purposes and Turkish regulatory reasons, is not popular here, but will not be disputed.

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Bit of a friut cake,i think?

ooh look. From shorty3/iii
http://www.iii.co.uk/investment/detail/?display=discussion&code=cotn%3AGKP.L&it=le&action=detail&id=10331318

Gary Parkinson Market report The Times
Published 1 minute ago 17/01/13

To wrap up the day’s smattering of speculation, there was Gulf Keystone Petroleum, chased another 10p higher to 226p amid whispers of an impending upgrade to its assessment of how much oil it is sitting on in the Kurdistan region of Iraq. There was also a rumour that GKP’s legal dispute with a former Green Beret over 30 per cent of its asset would go the way of the AIM company

Day 40: Court Case.
http://gkpinvestor.proboards.com/index.cgi?board=analysis&action=display&thread=1763&page=1#1358374052#ixzz2ICshdwo0

some profit taking has set in, and if sp drops to 200, then that looks a time to buy

Yws it looks that way,exprcting news soon,should be next week possibly from MOL?


Simon Fisher ‏@simonfishybits
Rodgers "When GKP tried to farm out it's asset in fact it was not a positive number but a negative one"
Details
27m Simon Fisher ‏@simonfishybits
Excalibur only have one lawyer in court today no backers no Rex it does appear this is being run at a minimum cost

Those who have met Simon are greatly impressed,he's attended every day.

PS. I'll hit 3 score and 10 on Saturday,wish i could retrace like the SP.

congrats cyril, have a good day tomorrow ;)

WsM is behind london time, not ahead of it!

Simon Fisher‏@simonfishybits

Rodgers " the documents speak for themselves "

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4mSimon Fisher‏@simonfishybits

Rodgers pointing out to SP Mr Compton made many errors in his valuations which ever way u look at it at 2007 it's nothing or minus nothing!



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13mSimon Fisher‏@simonfishybits

I would like to wish Todd a happy birthday for tomorrow could he please return the complement with a nice RNS OIP figures

http://gkpinvestor.proboards.com/index.cgi?action=display&board=analysis&thread=1764&page=1

And from those notes,the following.

Re: simonfishybits: In court Thursday

wktfuture

I attended court for an hour but the statistics explanations started to grate on my nerves a bit.

I can qualify a couple of the fishy tweets by saying

1) the back row of computer monitors on Excalibur's side of the room have been removed. Nice to see a scaling down of the op.

2) re. Akri Bijeel: the price sensitivity has made the barrister ask at the startof the day, for a private hearing related to the AB part of the valuation. SP said he planned to question that valuation at the end of the questioning anyway. The judge decided to continue in public and "tread gingerly"up to that point in time.
It was mentioned that they cannot work out the final valuation for the interested buyer because it is likely there will be a reserves/OIP update imminently which will affect the final price they pay. I am not certain the term "auction" was used here today. Take it with a pinch of salt, but I do think what I heard ties in with expected news. I am not sure but the implication was that there is a buyer waiting. Stating the obvious perhaps, given there are probably a few potential buyers. But thinking about it, I believe a decision must have been made and it is all down to a value after the next update.

One more thing. I re-iterate that I believe we have been correctly guided as to the outcomes for GKP.
I.e. it seems they are pressing ahead as planned with the sale of AB. Todd in the witness box qualified a partial sale of GKP to mean a management buyout, and a complete sale to mean just that.
The world is their oyster. I don't believe we will get ripped off ultimately. I met Todd at court a couple of times and found him very courteous.

Read more: http://gkpinvestor.proboards.com/index.cgi?action=display&board=analysis&thread=1764&page=1#ixzz2IHCh7wxB

Holing up reasonably well considering the Algerian crisis?

Snow C/Case today,but Todds birthday.

what on earth's the link between those two? ..... they're 000s of miles apart

Chill out,just a little small talk.

Not on the same wave length earlier,ref to 000's.

Alas no where is safe as the arm of Al Qaeda grows,so does the threat. Watching Anrew Neil last night gave an insight into just how big this problem has become?

AL Qaeda, don't think so, just a bunch of bandits.

Bomb squads searching for booby-trap devices left by the Islamist militants discovered 25 bodies, some so badly disfigured they could not be identified.

From LSE:-

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Reply | Recommend | ReportNobletrader
Posts: 203
Off Topic
Opinion: No Opinion
Price: 209.50
noteToday 11:11Word from Iraq is a consortium was put together inc KNOC which adnan has been advising on tpao and chevron, the return for Gkp is far from ideal.... Apparently. take it as it is

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Simon Fisher ‏@simonfishybits

has been advising on tpao and chevron, the return for Gkp is far from ideal.... Apparently. take it as it is

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3:18 AM - 22 Jan 13 · Details

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Deal news leaking out?...

Simon Fisher ‏@simonfishybits
Newly BOTAS-owned Turkey oil firm seen boosting foreign presence http://reut.rs/WEcGsI via @reuters

http://www.reuters.com/article/2013/01/22/turkey-energy-idUSL6N0AR2KI20130122


Tue Jan 22, 2013 5:28am EST
* Move seen paving way for projects in northern Iraq

* TPIC capital to be increased to $500 million

* Turkey, Iraqi Kurdistan building ties amid Baghdad tension

By Orhan Coskun

ANKARA, Jan 22 (Reuters) - Turkey will increase the capital of the state Turkish Petroleum International Company (TPIC) and transfer its ownership to state energy company BOTAS in a move seen boosting foreign activities, particularly in northern Iraq.

The cabinet agreed to increase TPIC's capital to $500 million from $150 million and transfer its ownership from state oil company TPAO, Turkey's Official Gazette said on Tuesday.

Analysts said BOTAS' established name abroad and its experience in energy projects would increase the ability of TPIC, which has authority for foreign exploration and production of oil, to participate in projects abroad.

Ankara has been building on its trade and economic ties with Iraqi Kurdistan at a time of growing tensions with the central government in Baghdad.

In November, industry sources said an unnamed new Turkish oil company was in negotiations to acquire several blocks in Iraqi Kurdistan in a joint venture with at least one foreign oil major and the Kurdistan Regional Government.

Autonomous Iraqi Kurdistan has already signed deals with oil majors like Exxon Mobil and Total, defying the central government in Baghdad which says only it has the right to sign contracts for Iraq's oil resources.

Kurdistan says its right to sign oil deals is enshrined in the constitution. But Baghdad says those agreements are illegal and has warned companies they will be blacklisted from Iraq oil opportunities if they sign accords with Kurdistan.

Oil majors see better terms, security and an easier working environment in Kurdistan compared with tougher service contracts and difficulties with red tape, bureaucracy, and infrastructure bottlenecks that hit oil projects in the rest of Iraq.

Turkey's TPAO operates in southern Iraq but does not have any official operations in Kurdistan.

Political tensions between Baghdad and Ankara have been running high after Turkey accused Iraqi Prime Minister Nuri al-Maliki of sidelining Sunni Muslims in Iraq since the onset of a political crisis after U.S. troops left in December 2011.

The TPIC capital increase will be paid for from TPAO's shareholders' equity in a cash lump sum.

http://gkpinvestor.proboards.com/index.cgi?action=display&board=analysis&thread=1773&page=1

This post has caused quite a stir,not sure of the creditabilty though?


Healyron,
It appears my sources are one step ahead of the game..As i said the backers are panicking and to confirm this the court has stated article 8.1 of the collaboration agreement as to be null and void as excalibur havent qualified for this..The whole argument stemmed from new york law from where the initial claims were lodged....It appears no defence is now left and even counter claims as i said we live in interesting times..


8 APPLICATIONS FOR ACREAGE
8.1,Upon completion of the evaluation of any parcel of Acreage which shall in
relation to each such parcel of Acreage take place by the Deadline, the
Operating Committee representatives shall meet to decide on whether they
wish to apply jointly for such Acreage and the commitments financial or
otherwise which they are willing to accept in relation thereto and no later than
ten (10) days after the Deadline each of the Parties shall thereupon give notice
to the other Parties of its commitment to participate in or to withdraw from each
Consortium Bid agreed as aforesaid. Should a Party fail to give notice as
required prior to the expiry of the time period set forth in this Clause 8.1, it
shall be deemed to have elected to withdraw from such Consortium Bid.

and,same source


Game set and match!!!
New york law has proven to be advisory and nothing short of english law..IE collaboration agreements etc form part of written contractural agreements not handshakes etc how the wempens assumed things...they came they saw they they will run...
I hope harvey and partner have at least $500 million

for the event they lose and are counter claimed by 3000+ shareholders for damages etc..
Pity they didnt do their research as to UBS fraud claims etc and wempens blackmailing/planned claims etc all im my opinion...apart from i will sue!!

Little interest in early trades,nakes one wonder?

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