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://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"

----------------------------------------------------------------------------------------------------------------------------------

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 "
---------------

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"

-
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

.

09:08
Email response from MOL
pathai
21
The test of Bakrman-1 and Gulak-1 are ongoing. Finalization of the tests in all the layers are scheduled for the first quarter of 2013. If there will be some internal results we will act accordingly.



Kind regards,

Ádám Horváth

"3 Things To Love About Gulf Keystone Petroleum Limited

Published in Company Comment on 6 February 2013

Do these three things make Gulf Keystone Petroleum Limited (LON:GKP) a good investment?

There are things to love and loathe about most companies. Today, I'm going to tell you about three things to love about independent oil and gas explorer Gulf Keystone Petroleum Limited (LSE: GKP).

I'll also be asking whether these positive factors make Gulf Keystone a good investment today.
Big

Pair 'oil explorer' with 'Alternative Investment Market (AIM)' and many investors will instantly reach for their barge poles. But bear with me on this one for a minute or two.

You may be surprised if I tell you that the online-dealing service of broker TD Waterhouse reported that Gulf Keystone was the most popular share purchased by its customers in 2012, beating blue-chip household name Lloyds Banking Group.

In fact, brokers notable for their nominee accounts -- such as TD Waterhouse and Halifax Share Dealing -- are among Gulf Keystone's major shareholders. TD Waterhouse is actually the biggest, holding 6.5% of the company's shares.

You see, Gulf Keystone is not some tin-pot microcap, but a £1.8bn company ranked second only to online fashion retailer ASOS in the AIM index. If Gulf Keystone were listed on London's main market, it would sit at the top end of the FTSE 250.

Furthermore, while many AIM companies are notorious for the wide gap between their buy and sell prices, Gulf Keystone's bid-offer spread is respectably narrow: 208p-208.75p as I write.
Barrels

Gulf Keystone's operations are concentrated in the Kurdistan Region of Iraq, where it's estimated there are 45 billion barrels of oil.

Gulf Keystone got into Kurdistan early and holds production-sharing contracts for four adjacent exploration blocks. One block alone, Shaikan, has audited gross oil-in-place volumes of 12-15 billion barrels, making it one of the largest onshore exploration fields in the world today.
Bid

Gulf Keystone's aim is to establish itself as "one of the major independent exploration and production players listed on the London stock exchange". However, it also says in the FAQs on its website that "should there be any offer for the company", the board will make recommendations "that will consider the best interests of shareholders as to how they should respond".

With oil super-majors ExxonMobil, Chevron and Total now operating in Kurdistan, a bid for Gulf Keystone at some point could be on the cards. Indeed, rumours of interest from ExxonMobil -- which has a block adjacent to Shaikan -- drove Gulf Keystone's shares up to 465p this time last year.
A good investment?

Gulf Keystone has a long way to go to realise the potential of its valuable assets, and while last year's bid rumour proved to be the work of internet 'rampers', the 465p to which the shares rose -- more than double the current price -- is an indication of what the market thinks the company could be worth if the value of its assets is outed.

If you own shares in Gulf Keystone – or are thinking of investing – you may wish to read the Motley Fool's free and exclusive oil and gas report.

This report tells you everything you need to know about evaluating oil and gas explorers -- from the characteristics of companies that deliver truly spectacular returns to a strategy for reducing your risk.

The report is 100% free, but is available for a limited time only. So, click here to have it sent immediately to your inbox.

> G A Chester does not own shares in any of the companies mention in this article."

from iii cheers


Yerevan Saeed @ KurdistanOil1


duffs55

5

Yerevan Saeed @ KurdistanOil1
KRG Minister of Natural Resources says. " we are in talks with 8 British energy companies."