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.

Agreed Harry,some feel fund raising may be on the cards,which if so then perhaps lower?
Or the sale of AB would solve any cash issues?
The following gives hope on the political front,but i'll believe it when it happens.


Posted Today, 12:34 AM
Political sources in Baghdad: The central government has agreed to all the demands conveyed by the delegation of the Kurdistan Regional Government fully and without exception
- April 30, 2013
BAGHDAD - Eastern April 30: Political sources in Baghdad said the central government has agreed to all the demands conveyed by the delegation of the Kurdistan Regional Government fully and without exception, according to Almassadran Government Center agreed to pass a law Extension Act approved the financial budget for the current year covers the amounts due to the oil companies operating in the region, which he refused Center allocated earlier in addition to the salaries of Kurdish Peshmerga forces, the sources said the central government also responded to the demands of the Kurdish invest oil in the Kurdistan region and exported context currently in place in addition to the agreement on the enactment of the oil and investment, the sources said the two sides agreed on security coordination in Kirkuk and other disputed territories and the return of Kurdish ministers to cabinet meetings, and noted that the meeting of the Council of Ministers, which had been scheduled for today has been postponed until after tomorrow, Thursday, in the hope of participation of Minister Kurds.


Read more:
http://dinarvets.com/forums/index.php?/topic/147602-full-agreement-without-exceptions-me

http://www.investegate.co.uk/gulf-keystone-petrol--gkp-/rns/gulf-keystone-set-for-production-growth/201305020700118143D/



Highlights



Production & Development

· Significant operational progress made in the last 3.5 years between the Shaikan-1 discovery in 2009 and the submission of the Shaikan Field Development Plan ("FDP") in early 2013, which is currently being reviewed by regulatory authorities

· Two new production facilities at Shaikan (PF-1 & PF-2) nearing completion

· 2013 production capacity of 40,000 bopd, expected to increase to 150,000 bopd in 2015



Infrastructure

· Gulf Keystone's ramp up in production fully aligned with the region's ongoing infrastructure development

· Alternative transport options exist for Gulf Keystone's crude whilst the Shaikan pipeline is constructed, including the ability to truck and accessing growing pipeline infrastructure, including a planned oil pipeline with initial capacity of 300,000 bopd to the Fishkabur pump station on the border with Turkey expected to complete in 2013



Exploration & Appraisal

· Extensive drilling campaign continues with the Company's 18th and 19th wells: Shaikan-7 deep exploration well & Shaikan-10 development well to spud in Q2 2013

· Following recent success of the Sheikh Adi-2 well, appraisal drilling is planned for the 1.9 billion barrel Sheikh Adi field (independently audited P50 gross oil-in place estimate), as well as further exploration work on the block

· Extensive exploration and appraisal programme is ongoing on the Akri-Bijeel block with two discoveries, Bijell-1 and Bakrman-1, made to date



Financial

· Fully funded for the 2013 work programme and aiming to achieve additional revenues through significant production growth

he Company's Annual General Meeting is to be held on Thursday, 25 July 2013 in Bermuda.

Seems to me a tatic to exclude many irate pi's?

probably just an excuse for a nice break in the sunshine in a tax haven with adequate golf!

No great enthusiasm looking at the early trdes,thing is very little info not already out there?At least in a closed period,no placings etc.

cynic,your being kind for once.

i see no real reason for pis to be pissed(!!) .... the company looks to have performed as promised
the political situation is out of their control, but of course that has significant impact on sp, as does the unresolved court action

So the 10m shares just transferred (probaolly for tax reasons?)is ok,action which has thrashed the SP.
>

missed that .... tell me more .... transferred from whom to whom and for what alleged reason? .... if just moving domicile to avoid tax, then so what?

cynic see RNS dated 22nd april

It maybe to do with his devorce settlement??

ww.investegate.co.uk/gulf-keystone-petrol--gkp-/rns/director-pdmr-shareholding/201304220700108463C/

catch up cynic.,.

3m trade so far and holding at 135p,theirs a tendence to drop this near end of day,will be interesting to see how it pans out?

curious that the transfer was "to an unnamed 3rd party" ..... 20th april i was prob having more fun playing golf in jersey!

Sheikh Adi Appraisal Programme

After making a Jurassic discovery with the Sheikh Adi-2 exploration well in November 2012, the Company and the Kurdistan Regional Government, its partner in the block unanimously agreed to move to an appraisal programme to appraise Jurassic targets and evaluate the Triassic upside at the 3,500 metres projected depth with the Sheikh Adi-3 appraisal well. Furthermore, we plan to target two additional exploration leads, comprising potential extensions of the Atrush and Swara Tika discoveries, following acquisition of 70 km of additional 2D seismic data. The Company is enthusiastic about the forthcoming appraisal and additional exploration work as it is the Company's belief that the Shaikan field shows signs of a significant extension into the Sheikh Adi block.

It should be remembered that we have a 80% interest in SA,against 51% at SH?

More positives coming out of Iraq?

http://ransquawk.com/headlines/iraq-and-kurds-reach-a-tentative-deal-on-oil-companies-payment-according-to-officials-02-05-2013

Also,


11:49
In days Maliki to visit Erbil
Barney71255
2


Maliki to visit Erbil after 2 years
Erbil- The Iraqi Prime Minister Nouri al- Maliki is planned to visit the northern autonomous region of Kurdistan in the coming days, official said.
The Maliki’s visit comes at the invitation of Kurdistan Regional Government (KRG) Prime Minister Nechirvan Barzani, KRG foreign relations chief Falah Mustafa was quoted by Radio Nawxo as saying today.
“The visit will be in the coming days,” Mustafa added.
Kurdistan Alliance deputy Mahmoud Othman confirmed the visit, adding that Maliki will meet Kurdistan Region President Massoud Barzani in Erbil.
The two officials have not met each others for more than two years, after tensions between Baghdad and Erbil grow increasingly over Article 140, Oil and Gas Law, Kurdish Peshmarga forces payment and fugitive Iraqi vice President Tariq al- Hashimi’s flee to Erbil, which denied to hand Hashimi, who is sentenced to death penalty, to Baghdad.
Meanwhile a member of Kurdistan Region delegation who met Maliki in Baghdad on Tuesday said Maliki has told them he would hold a meeting of the government in Erbil.
More View thread 1 Respond Vote up Your vo

...from WHIreland....


Gulf Keystone (GKP.L, BUY, Market Cap £1.2bn)

Main points on operational update this morning:

1) Gulf Keystone have provided a positive update regarding their operational progress to commence production at Shaikan where a full development programme will see an initial 20kboepd from the first production unit doubling to 40kboepd in the 2H’13. The full plan will see production increase to 150kboepd by 2015. This will provide GKP with an important source of revenue to further drill out other areas within and beyond Shaikan including Sheikh Adi where a discovery was made in November 2012.

2) Exploration continues apace with Shaikan 7 & 10 planned in May and June of this year. In the Akri Bijeel Block an extended test well for the Bijeel discovery is nearing completion and two appraisal wells are also nearing completion to test the extent of the original discovery. Two exploration wells are planned in Sheikh Adi following 2D seismic work.

3) The recent significant underperformance of the stock we believe is unjustified as we believe the value of reserves which we estimate is over 2bnboe (net risked) is worth significantly more than the implied $1.8bn, or over $1/bbl. We value of future production and existing reserves a value at over $2/bbl to derive our NAV based target price. We believe a resolution of the outstanding legal case in the commercial court in London in June will mark the end of a significant impasse for the company and lead to a significant re-rating. Operationally and financially the company is well positioned, and we therefore maintain our BUY recommendation and target price of 315p.

--------------------------------------------------------------------------------
A presentation on 4th July to be held in London prior to the AGM and responce to an enquiry concerning it.


Dear Paul,

We'll be providing more details on the day, including how to register, shortly.

You are welcome to attend since the purpose of the meeting is to give all our UK shareholders the same access to the whole team, and platform to ask questions and air views, as they would have at the AGM, but on their doorstep and cost effectively.

Anastasia
Best regards,

Gulf Keystone Petroleum Ltd

Today the share price failed to rise by even a penny, despite the following upbeat statement. Are we being toyed with or what? I feel sorry for those who have borrowed, or gone without, to buy GKP stock.

"With the Shaikan commercial discovery alone, Gulf Keystone has one of the world's largest onshore conventional oil & gas developments with a Pmean 13.7 billion barrels of gross oil-in-place as set out by Dynamic Global Advisors, independent Houston-based exploration consultants. A recent report by Goldman Sachs highlights the scale of the Shaikan development and the fact that in 2015 the global production increase will in part come from the Shaikan field*. The Company continues to be highly active with the drill bit, in order to further prove the value of its blocks.
Today Gulf Keystone is on the verge of moving into a phase of significant production, with the capacity to produce up to 40,000 barrels of oil per day ("bopd") from Shaikan in the coming months and up to 400,000 bopd in the coming years. The Company will be a key contributor in meeting the Kurdistan Regional Government's oil production targets of 1 million bopd in 2015 and 2 million bopd by 2019.
Considerable progress is being made on the regional pipeline infrastructure development and the Company's increasing production will be matched by the available export capacity. The size and quality of the Company's fields is now increasingly recognised and a number of the world's largest oil companies, including ExxonMobil, Chevron and Total, are now following Gulf Keystone's lead and commencing active work programmes in the Kurdistan Region of Iraq.
*Goldman Sachs: April 12, 2013 - "380 projects to change the world. From resource constraint to infrastructure constraint"
Commenting on today's announcement, Todd Kozel, Executive Chairman and CEO, said:
"As one of the first companies to see the potential of the region, over the last five years Gulf Keystone has drilled or participated in nearly 20 wells and remains one of the most active operators in the Kurdistan Region of Iraq. Shaikan is the largest onshore development worldwide today not in the hands of a major operator. However, we believe that we have only scratched the surface of the true value of our blocks and our ongoing exploration and appraisal activity is expected to result in further upside."
"The Company is encouraged by recent reports from a variety of sources, including political spokespersons, regarding the close and burgeoning ties between the Kurdistan Region of Iraq and Turkey, which the Company believes presents further transformational progress for the region. In this context, Gulf Keystone will play a major role as a co-host of the 2nd International Energy Arena Conference in Erbil on 30 May, a meeting place for key political and industry decision makers on the energy cooperation between the Kurdistan Region of Iraq and Turkey."
"I therefore strongly believe that there is considerable momentum in the development of Kurdistan's vast natural resources and Gulf Keystone is in a prime position to benefit as the region moves to this next stage."
"Our remarkable journey continues and I remain indebted to our hosts in the Kurdistan Regional Government and to the outstanding team within our Company. We have never been more excited about the future."

The Times Juliet Samuel

Published at 12:01AM, May 3 2013

• Full-year results for Gulf Keystone were delayed yesterday from this month until the latter half of June — but why? The oil and gas explorer, which blazed a trail for rivals in the Kurdish region of Iraq, is telling analysts that the quiet period before results has been accidentally violated. Last week Todd Kozel, the chief executive, inset, transferred ten million shares to a third party in a “financing arrangement”.

Apparently, he forgot to tell the board the transfer was afoot.

Last year it was revealed that Mr Kozel would have to give 17.4 million shares worth £23 million to his ex-wife as part of a divorce settlement, although it is unclear if that is what last week’s transfer was for.

Gulf Keystone declined to comment when we called. End