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.

26
Feb 2013
Exxon chooses Kurdistan in Iraq
http://www.scoop.it/t/oil-explorers-iraq/curate

Tom; direct link to your post. Oopps not allowed?

http://www.scoop.it/t/oil-explorers-iraq/curate

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from iii cheers--gramacho



09:30
GKPs 2012/13 Capex
Gramacho
20
Interesting to note MOLs capex projections for 2013 from the drilling update presentation.

For Shaikan
Exploration: $7.9MM for Shaikan-7
Development: $50.8MM for SPF1 and SPF2 and Shaikan-10
Total $58.7MM net at 20% WI which equates to $235MM net Capex for GKP/TKI


For Akri Bijeel
Exploration: $140.9MM net for 3D completion, drilling Bijell -2, 5 and 7 appraisal wells, commence drilling Bijell 4 and 6 appraisal wells
Development: $15.1MM net for Bijell-1 EWT and surface facility upgrade
Total $156MM net at 80% WI which equates to $39MM net Capex for GKP/TKI


Hence total 2013 capex for GKP/TKI = $274MM which is approximately equivalent to the money raised by issuing the convertible bonds.

MOL also kindly detail the full year 2012 spend for AB and Shaikan. Adding the components yields a total 2012 Capex spend of $149MM for MOL and $190MM for GKP.

These figures are the bulk of GKPs spend in Kurdistan (not forgetting Ops G&A and SA and BB Capex) and should enable a reasonable estimate of GKPs year end 2013 cash position without production and with the benefit of production once the rates can be estimated more accurately.


MOL are starting to yield some useful snippets at last!

Regards,

Gramacho

The link to XON.

http://www.directorstalk.com/exxon-chooses-kurdistan-in-iraq/

Niceonecyril who do you get the links to work here mines just go black

Video: Turkey’s Role in Iraqi Unrest
26th Feb
http://www.directorstalk.com/video-turkeys-role-in-iraqi-unrest/

WesternZagros Spuds Kurdamir-3
26th Feb
KRG Signs New Agreements with Gazprom
26th Feb
Sadoun: resolving the issue of the oil companies need more time
26th Feb

Tom, 1st copy the link,click on the chain-link above this box.Delete the hppt:that comes up and then paste your limkk into the address bar,then press ok as instructed.
then post message.
Hope this helps.

Much discusion,regards to MOL's recent presentation,here's onr such post.


bbbs latest post from last week after MOLS AB update--Re Sh-6
---------------------------------------------------------------------------------
As for GKP's belated update on Shaikan activities? Yes, more of the same minimalist carp. IMO. Would it be so hard to say why SH-6 was dropped and SH-10 added for PF2? Why do PI's have to guess - that perhaps SH-6 was drilled too far down on the flank (in order to try and define OWC's that so far only Joseki has told us about) and is consequently unsuitable for a Production well that should ideally initially withdraw reservoir fluids from the top part of the structure? When are we going to get test results from SH-5? When are we going to get test - and OWC - results from SH-6? I guess we will just have to rely on Joseki's report on what the Institutions were told on 28th May 2012 - you know, that post which was deleted by iii without any explanation to the author.

At least it was good to note that the latest production promises are now verifiable within a rather short period of time ... over to you Hawrami - is the Turkey nearly done?

And another reference to the 'synergy' word when talking about Sheikh Adi and Shaikan ... nice. With ExxonMobil due to spud Al Qush-1 'imminently' (refer Western Zagros 'internal' map) there may be some more use of the 'synergy' word in the not too far distant future ... (please do look at that map, and note the alleged boundary of Shaikan compared to the shape of the SH-AQ anticlines). Maybe Al Qush-1 has been re-named SH-9 ?

GLA,

BBBS
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SH-6 --- From 28th May 2012 presentation, by Joseki:--

This brings us to our prize among prizes, the jewel of Kurdistan, Shaikan, which has had a great run on appraisal this year. The BoD reinforced that recently they didn’t need to test to the good parts that were there, but went for the marginal sections to better understand what we have. We did reach OWC on SH6, 150m below target levels below spill point in the Jurassic and will add significant increments to both the aerial extent and depth of the Shaikan structure. If I take us to the outline of the Jurassic on p13, the current green area on the east of the Shaikan block pretty much extends green all the wall to the remaining blue section of the block and likely into the South too of the neighbouring block. The water contact on SH6 is in the low Kure Chine C or D section, and there it is like what we found in SH4. There is possibly another OWC in the Butmah level but that requires further testing. What we have encountered is extremely high pressure of 19.2 pds/ga in the Triassic, and we need to think how to deal with this. To give some context, the Triassic usually in SH1-3 is more 12 pds/ga, so this has surprised. During SH5 in the Kure Chine D levels there was a significant oil kick with sample gravities in the mid 30s-40s and appears to be sweet. This bodes well the prospectus below. In terms of the Jurassic matrix, the overall fracture or amount of oil retained is higher than expected, where originally it was thought 0.8%, but is now proven to be some 3%. The main takeaway on the back of SH5 SH6 is we can expect an increase again in OIP on Shaikan.

Niceonecyril thanks ill try loads of news here updated as it happens

26
Feb 2013
Gazprom Neft has taken an 80% stake in a Kurdistan field with reserves of 100 million metric tons of oilhttp://www.directorstalk.com/?s=gkp

cheers worked a treat.

http://www.investegate.co.uk/gulf-keystone-petrol-%28gkp%29/rns/share-issue-exercise-of-options-director-dealing/201302261530027196Y/

Iraq’s oil industry has been de-nationalized, and the country is “open for business” for petroleum companies.
26th Feb
http://www.directorstalk.com/iraqs-oil-industry-has-been-de-nationalized-and-the-country-is-open-for-business-for-petroleum-companies/

Gulf Keystone CEO pockets £10m pay – Financial Times
27th Feb
- See more at: http://www.directorstalk.com/#sthash.DbP5QLCn.dpuf

probably not the brightest move in PR terms given the on-going court case and "suffering" of investors ....


Todd Kozel, executive chairman of Aim-quoted Gulf Keystone Petroleum, has underlined his position as one of the UK’s best-paid businessmen as he exercised options and pocketed bonus shares worth in total more than £10m.

Gulf Keystone, one of Aim’s top-five ranked companies by market capitalisation, confirmed on Tuesday that its board had agreed to issue more than 7m shares to directors and employees under the terms of executive bonus schemes for 2010 and 2011.

Last May Mr Kozel robustly defended a £13m pay package arguing that his success in transforming the Kurdistan-focused oil explorer into Aim’s biggest company by market capitalisation at the time merited the award.

The award to Mr Kozel and other leading executives takes place amid the final days of legal action brought by former adviser Excalibur Ventures ....... In a case that has run since October in London’s High Court, Gulf Keystone has strongly resisted claims of up to $1.62bn in compensation and damages from Excalibur

Un the bright side ,this award is based upon achieving production targets of 6/8kbopd.
Worth noting next month the 1st production facility (20,000)PF1 will be operational.

27
Feb 2013
Budget conflict and Kurdistan pipeline – Despite the fact that Iraq’s Cabinet approved the $118.6 billion budget in October last year, infighting among Shiite, Sunni and Kurdish factions this week scuttled attempts by lawmakers to pass the draft legislation in parliament.http://www.directorstalk.com/budget-conflict-and-kurdistan-pipeline-despite-the-fact-that-iraqs-cabinet-approved-the-118-6-billion-budget-in-october-last-year-infighting-among-shiite-sunni-and-kurdish-factions-this-week-sc/#sthash.POO0wTLj.dpbs

IRAQ – Fuel Pipeline Attacked for 3rd Time
27th Feb ·
BBC Special on Iraq
27th Feb ·
Petrofac Updates on Iraqi Operations
27th Feb ·
Iraq/UK Energy Cooperation Growing Stronger
- See more at:http://www.directorstalk.com/#sthash.rXwkhDx2.dpuf

(Reuters) Iraq budget stalemate deepens over Kurd oil payments
27th Feb
- See more at: http://www.directorstalk.com/#sthash.ey3mUAjr.dpuf

IRAQ/KURDISTAN – UK Minister: “The Opportunities are Fantastic …”
28th Feb
- See more at: http://www.directorstalk.com/#sthash.eYccLs2r.dpuf

I think we have got the message that you are trying to promote another website.

Zak Mir: Gulf Keystone (LSE:GKP) or Xcite Energy (LSE:XEL)
28th Feb
- See more at: http://www.directorstalk.com/#sthash.g1K98KW6.dpuf

he's a real pain ...... let's hope ian is monitoring and will kick him into touch