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.

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either or both :-) ..... i was too young for conscription!

http://gkpinvestor.proboards.com/index.cgi?action=display&board=analysis&thread=1775

http://usa.chinadaily.com.cn/epaper/2013-01/24/content_16169951.htm




Oil giant wants to buy 60% of Exxon Mobil stake for $50b, reports say

Chevron Acquires New Stake in Kurdish Oil License - Oil Official
PrintAlert
Chevron (NYSE:CVX)
Intraday Stock Chart
Today : Thursday 24 January 2013
By Hassan Hafidh
BAGHDAD--U.S. oil company Chevron Corp. (CVX) has expanded its presence in the Kurdish region of Iraq by acquiring a stake in a new oil exploration block, a senior official at Kurdistan's oil ministry said Thursday.
The deal builds on Chevron's two existing oil licenses in the region which were acquired in July from Indian conglomerate Reliance Industries Ltd. (500325.BY). The presence of Chevron, and other western companies like Exxon Mobil Corp. (XOM) and Total SA (TOT), has provoked protest from Iraq's central government, which says the Kurdish authorities have no right to grant exploration licenses.
"We are pleased that Chevron has strengthened its commitment in Kurdistan by acquiring a stake in another new oil field, Qara Dagh," a senior official at Kurdistan's oil ministry told Dow Jones Newswires.
Chevron was not available for comment.
The company and the Kurdish regional government have agreed on the terms of the deal but have yet to sign it, the official said.
The Iraqi central government has barred Chevron from having oil contracts in central and southern Iraq since the California-based company bought stakes in the two oil-exploration blocks.
(James Herron in London contributed to this report.)
Write to Hassan Hafidh at hassan.hafidh@dowjones.com

14:52
Re: simonfishybits: In court Thursday
Mandelsputin
25
Simon Fisherþ@simonfishybits

JG " I am sure you and Mr Wempen have aligned your evidence together"

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Ouch!

That's one hec of an accusation to throw at a supposedly impartial expert witness.

And I'm sure Gaisman didn't just chuck that out without some backing.

Looks like Clifford Chance have been aligning evidence from every quarter - writing the script, even.
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5m Simon Fisher ‏@simonfishybits

JG "please focus on the question, I will keep asking it until I get a answer "
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2m Simon Fisher ‏@simonfishybits

JG " if you are entering the factual arena you are expected to answer questions about it"
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The words constructed and fraud are ringing out very loudly.

for whom is this chap Gaisman working ..... it does all get very confusing at times

Clifford Chance are the law firm(Chambers who were behind this suit and are represented by Simon Picken (SP)

Mr Crane for TKI (JC)

John Gaisman (JG) for GKP

and Judge Clarke presides.

thanks cyril .... in that case, good to hear that the reported exchange appeared to do no favours to EXC

http://gkpinvestor.proboards.com/index.cgi?action=display&board=analysis&thread=1781&page=1#3214

3
Simon Fisherþ@simonfishybits

JG " you got caught red handed Mr Park you were hoping that we would not check out what you just said, you have said twice under oath"

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http://gkpinvestor.proboards.com/index.cgi?action=display&board=analysis&thread=1784&page=1#ixzz2J0ca6sAT

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It alsuo seems rhe GKP/TKI teams are afterextra costs of £8.5m,will be heard next week.

Day 46 with updates.


http://gkpinvestor.proboards.com/index.cgi?action=display&board=analysis&thread=1784&page=1#3220

">

C&P.


Did some research this morning - had a chat with Anastasia:

*Shaikan 8, technical well, is complete.

*Commissioning of First Shaikan production facility, 20kbopd, is delayed til end of Feb- GKP are blaming delay on bad weather, 1m of snow.

*2nd production facility awaiting news of pipeline/politics with turkey. (still )awaiting confirmation of the final route of the Shaikan export pipeline

*awaiting ops update from MOL WRT tests at Barkman etc

*Can assume FDP will be submitted within 180 days (by end of Jan). I took this to mean there will be no RNS- I said there was enough there for an ops update- GKP concentrating on FDP.

All imo DYOR etc etc

Ben Gittlesonþ@bgittleson

Gulf Keystone submitted its Field Development Plan for Kurdistan's Shaikan block yesterday - plan to have 40k barrels/day capacity by June

http://gkpinvestor.proboards.com/index.cgi?action=display&board=analysis&thread=1791&page=1#3236

Turkey and the Kurdish regional government (KRG) are in the final stages of talks on a giant Turkish investment in the Kurdish oil and gas sector, the Financial Times reported on Wednesday.


The proposed deal would seek to create a new "energy corridor" that by the end of the decade could send Turkey as much as 3 million barrels a day of oil and 10 bn cubic metres of natural gas a year.

People close to the negotiations said the deal would set up a new company controlled by Turkey’s state-owned oil and gas companies, which would then acquire the rights for five exploration blocks in the Kurdish region. A person familiar with the talks said some of the blocks it is entering are those acquired by ExxonMobil last year.

"Citing four senior Turkish officials the Washington Post reported two days ago that negotiations between Turkey and the KRG on a pivotal oil deal had entered the final stages. Hence this latest piece of news is unlikely to be completely fresh for the market," commented Péter Császár, research analyst at KBC Securities in Warsaw.

He also noted that the deal is surrounded by various complexities, such as "heightened tensions between Ankara and Baghdad; US opposition to any deal which may threaten the unity of Iraq and push Iraqi Prime Minister Nouri al-Maliki closer to Iran; the potential disintegration of Iraq could create the prospect of a greater independent Kurdistan, destabilizing the largely Kurdish southeast of Turkey etc."

"As a result, the positive impact on MOL’s and Tupras’ share prices is likely to be muted for now. Nevertheless, a sealed deal would certainly help the political derisking of MOL’s position in Kurdistan, which is worth up to USD 2.8bn (or HUF 6,288 per share). The deal would also be positive for Tupras, which could further diversify its crude acquisition sources and replace the missing barrels from Iran," Császár concluded.

It appears the C/Case has finished,at least the questioning of witnesses.Summing up and judgement,which could take upto 3 months,so May/june for the outcome?

UT at 215p.

http://www.bloomberg.com/news/2013-02-01/sinopec-said-in-talks-to-buy-1-billion-in-afren-assets.html

http://www.proactiveinvestors.co.uk/companies/stocktube/1702/vsa-capital-still-likes-africa-kurdistan-for-oil-stocks--1702.html

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