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://www.ninanews.com/english/News_Details.asp?ar95_VQ=GGHEIM


Maliki is ready to receive Barzani in Baghdad to resolve outstanding problems.
28/02/2013 10:32:00

BAGHDAD / NINA / Ali al-Moussawi, the media adviser to Prime Minister Nuri al-Maliki confirmed that "Maliki is ready to receive the head of the Kurdistan Regional Government Nechirvan Barzani in Baghdad to resolve all outstanding problems between the central government and the province."

He said in a statement to the National Iraqi News Agency / NINA /: "Maliki's call is a permanent and continuous for all political parties to sit at the table of dialogue and address all problems and disputed issues in accordance with the Constitution and resorting to it as the main reference to solve problems."

He added: "The outstanding problems between the center and the province are not insurmountable with the existence of a constitution , and if there is a controversy on it, we can resort to the Federal Court."

The head of the Kurdistan Regional Government, Nechirvan Barzani expressed, on Wednesday, his readiness to visit Baghdad for dialogue and get out of the current crisis./ End

Genel looks to Kurdish exports
28th Feb
http://www.directorstalk.com/genel-looks-to-kurdish-exports/

28
Feb 2013
Tony Hayward to return to offshore drilling in 2013 as Genel eyes expansion
By News Teamin News
- See more at: http://www.directorstalk.com/tony-hayward-to-return-to-offshore-drilling-in-2013-as-genel-eyes-expansion/#sthash.MKB5B1fq.dpuf

28
Feb 2013
Turkey-Kurdistan oil pact imminent – Financial Times
By News Teamin News
- See more at: http://www.directorstalk.com/turkey-kurdistan-oil-pact-imminent-financial-times/#sthash.rId2otZ3.dpuf

1
Mar 2013
£50m profit for new Kurdistan oil firm Genel Energy could result in bid by giant, says ex-BP boss
By News Teamin News
- See more at:http://www.directorstalk.com/50m-profit-for-new-kurdistan-oil-firm-genel-energy-could-result-in-bid-by-giant-says-ex-bp-boss/#sthash.ruQbvssy.dpuf

1
Mar 2013
3 Things to Loathe About Gulf Keystone Petroleum
By News Team in New
- See more at:http://www.directorstalk.com/3-things-to-loathe-about-gulf-keystone-petroleum/#sthash.1SlJiySt.dpuf

2
Mar 2013
Companies with lucrative assets in the Kurdistan region of Iraq are planning IPOs in London, the first of which could come as early as this year. Oil and gas explorer Kuwait Energy is planning an IPO in the second half of 2013 through Deutsche Bank
By News Teamin News
- See more at: http://www.directorstalk.com/companies-with-lucrative-assets-in-the-kurdistan-region-of-iraq-are-planning-ipos-in-london-the-first-of-which-could-come-as-early-as-this-year-oil-and-gas-explorer-kuwait-energy-is-planning-an-ipo/#sthash.3n2vFY9B.dpuf

Ten years on from the war, how the world forgot about Iraq – The Independent
3rd Mar 10:21 pm
- See more at: http://www.directorstalk.com/#sthash.owUuQT7G.dpuf

Nice to see the SP making a recovery,probably on the back of news from Iraq?Seems the Budget has finally been agreed,lets hope so and it's not another false dawn?

I've just noticed the 50dma has crossed the 200dma,a Golden Cross,coupled with the days SPm,all looking positive.

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that is NOT a golden cross ..... BOTH (major) trend lines need to be heading north

Well said, not a golden cross no, also 50DMA crossing 299DMA!! Enough said.. If your going to chart then be sensible.

Elsewhere, shares in Gulf Keystone Petroleum (GKP) have suffered so far in 2013 amid protracted ongoing litigation between the company and its former partners. Even news in February of a new discovery at its Akri-Bijeel Block in the Kurdistan did little to excite the shares. However, with signs that the court action should be coming to end fairly soon (although a judgement may take some months), the stock has begun to drift higher over the past week. Gulf Keystone has big plans to drive its massive Shaikan field into development and production this year, and step up from AIM to the Main Market.

BREAKING NEWS. Parliament session starts with legal quorum.
06/03/2013 15:30:00

Baghdad/ NINA /--Parliament started its today's session this afternoon led by Speaker Osama Najafi and the presence of 168 members.

It is scheduled to approve the 2013 state budget, which was postponed voting on it more than once, because of lack of quorum. After being adjourned yesterday and the day before, due to lack of quorum.

The Kurdistan Alliance MPs are demanding include the budget $ 4.2 trillion dinars dues to the oil companies operating in Kurdistan region.

The House of Representatives has failed more than once to pass the budget either for lack of a quorum, or differences and dispute over some budget items. / End

http://www.ninanews.com/english/News_Details.asp?ar95_VQ=GGIHHH

BAGHDAD / NINA / The MP, of the Kurdistan Alliance, Sharif Suleiman accused the state of law coalition of using the dues of the oil companies operating in Kurdistan politically in order not approve the budget, even though they are legal entitlements.

He said in a statement to the National Iraqi News Agency / NINA /: “The State of Law coalition took full responsibility not to approve the budget, and using the payments of the oil companies operating in the region was to earn the street by maintaining the public money as they think, but the opposite is correct. ”

Solomon added: “The payments of the oil companies is legal according to the agreement between the province and the center as long as they demand the Kurdistan region government to import 250 thousand barrels per day and add them to the state budget, so they have to add these dues of the oil companies in the current year budget.

It is hoped that the House of Representatives is to vote today on the approval of the budget of 2013, which was postponed more than once, as the Kurdistan Alliance calls to include $ 4.2 trillion Iraqi dinars in the budget as dues of the oil companies operating in the Kurdistan region. “/ End

LINK

http://www.eenews.net/public/energywire/2013/03/06/1

http://www.reuters.com/article/2013/03/07/iraq-budget-parliament-idUSL6N0BZDJ320130307

, March 7 | Thu Mar 7, 2013 9:19am EST

(Reuters) - The Iraqi parliament passed the country's 2013 budget on Thursday despite a boycott by Kurdish members, a Kurdish MP said.

"None of our demands were included in the budget," said Kurdish MP Rawaz Khoshnaw. "We didn't attend the meeting."

http://www.iraqinews.com/baghdad-politics/ka-quot-kurdistan-not-to-commit-to-oil-exportation-hereafter-quot/

Baghdad (IraqiNews.com) -The Kurdistani Alliance announced on Thursday that “The Kurdistan Regional Government will not commit to the exportation of oil from now on, and will resort to the economic independence away from the central government.”

MP Muhsen al-Saadoun of the KA stated in a press conference in presence of the KA’s MPs “The article No. 112 of the constitution grants the Kurdistan Region authority to run its oil sector, so the Region will not adhere to the oil export and will be economically independent.”

“We have the right to appeal some of the federal budget’s items at the Federal Court,” he added describing not including the item of the dues of the oil companies working in KR within the federal budget of 2013 as serious step, especially since there are important oil companies working in Kurdistan Region.”

jayk94 iii

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I was lucky enough to be on an investor call with John B. Gerstenlauer and made some notes, this is what he had to say about the pipeline:

Kurdistan
The Oil Minister in a recent presentation promised that Kurdistan would have production levels of 1M barrels per day by the end of 2014, of this figure 150k per day is ear marked for Shaikan field and this is the number that GKP are aiming for. From PF1 and PF2 they will be producing 40-60k a day by end of this year. To ramp up to 150k per day they will need PF3 and PF4 to be built and also a pipeline to Turkey.

Pipeline
There is currently a working pipeline on the Turkish border that GKP could use to ship 70k per day but if they want to hit the 150k that the KRG are targeting then they need their own pipeline. The capital expenditure needed for PF3, PF4 and the pipeline is in the region of $800-900M. This will be around 100m day 1, 100m at the end and the rest in a fairly straight line. This will be mainly paid for by cash from exports. if PF1 and PF2 are producing 40k per day that is $1.6m profit per day, so over Q4 this year and the whole of next year that is $728M (majority of what is needed). The was emphasis on the fact that they are moving away from equity to raise funds and that bonds are the most likely way to raise the remaining money. Obviously cash flow of 1.6m a day makes this a much easier proposition to raise.

Decision
The decision on whether to invest this capex will be taken in the summer, they just want some assurances that oil exports are being paid for by iraq govt as there have been delays recently but agreement seems to be close ($3.6Bln currently owed in arrears). If other players in the area are being paid and our 40k per day is being paid they will press on. One cautionary note they raised was that cash for domestic oil is quick but can typically be a 6mth wait on cash for exports so potential will need the bond raising to cover the shortfall in cashflow. Again though, dilution unlikely.

My overiding feeling after the call was that i have never been more confident about my investment in GKP

http://www.iraqinews.com/baghdad-politics/mahdi-endorsing-budget-without-kurds-approval-to-eliminate-accord-principal/#ixzz2MwGRa1uN

Mahdi: Endorsing Budget without Kurds’ approval to eliminate accord principal



Added by Ahmed Hussein on March 8, 2013.
Saved under Baghdad Politics

mahdi endorsing budget without kurds approval to eliminate accord principal Mahdi: Endorsing Budget without Kurds approval to eliminate accord principal

Baghdad (IraqiNews.com) -MP, Ruz Mahdi, of the Kurdistani Alliance assured that endorsing the Budget law without the Kurds’ approval will eliminate the principal of the accord.

He stated to IraqiNews.com “It is very critical issue to endorse this law without considering the opinion of the major community of Kurds.”

“This will ruin the previous cooperation and coordination between Kurdistani Regional Government and the Federal Government,” he added.

“This comes after several attempts by the State of Law Coalition to force Kurds to accept certain issues which is totally rejected,” he mentioned.

“KR has the right to deal independently concerning the economic issues from now on after neglecting its demands over the Budget law,” he concluded.

Read more: http://www.iraqinews.com/baghdad-politics/mahdi-endorsing-budget-without-kurds-approval-to-eliminate-accord-principal/#ixzz2MxHFqfTD
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