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.

11 June 2013

Gulf Keystone Petroleum Ltd. (AIM: GKP)

("Gulf Keystone" or "the Company")

Update on Search for Non-Executive Chairman

Gulf Keystone announces that it has engaged Odgers Berndtson, one of the UK's pre-eminent executive search firms, to assist in the search process for a Non-Executive Chairman and at least one other Independent Non-Executive Director, both to be appointed as soon as practicable.

The search process is being led by the Non-Executive Director Field Marshal the Lord Guthrie of Craigiebank, Chair of the Nominations Committee.

could it be that sentiment is changing? So much in the near future,Bagdad and Erbil making up,CC result,presentation(4th July) prior to AGM and a move to the main market on the cards.Let's hope so.

still searching for a new chairman, where is he/she hiding? no doubt the field marshal will find him in the sand dunes!

iii.co.uk/tv/episode/kurdistan-oil-outstrip-targets

By Rupert Hargreaves | More Articles | Save For Later
June 13, 2013 | Comments (0)

LONDON -- I'm always searching for shares that can help ordinary investors like you make money from the stock market. However, many people are currently worried the market could be overheating.

So right now I'm analyzing some of the most popular companies in the FTSE 100, hoping to establish if they can continue to outperform in today's uncertain economy.

Today I'm looking at Kurdistan focused oil company Gulf Keystone Petroleum (LSE: GKP ) (NASDAQOTH: GUKYF ) to determine whether the shares are still safe to buy at 150 pence.

So, how's business going?
So far, 2013 has been an exciting year for Gulf Keystone. The company and its partners have discovered oil in five locations within four of the firm's exploration blocks. The most recent discovery was at the Ber Bahr 1 well, which GKP holds a 40% interest in and operates with its partners Genel Energy and the Kurdistan regional government.

Elsewhere, the company is in the process of driving up production from its 75% holding in the Shaikan oil field, one of the largest oil and gas developments in the world with a projected 13.7 billion barrels of oil in place. Gulf Keystone is targeting production of 40,000 barrels of oil per day by the end of this year and 150,000 by 2015.

In addition, the company has several other oil wells under development within Kurdistan, some of which are expected to yield several billion barrels of oil for the company.

However, away from the oil fields, Gulf Keystone is fighting a court case with Excalibur Ventures, over the rights to a stake in Gulf Keystone's oil bearing assets. City analysts estimate that there is a 25% chance that Gulf Keystone will lose the case, which could potentially cost the company $1.6 billion.

Expected growth
Gulf Keystone made a loss during 2012. However, if the company manages to achieve its production targets this year, City analysts expect the company to turn a pre-tax profit of £41 million and earnings per share of 0.51 pence. Additionally, if production targets are met next year, analysts predict earnings of 13.7 pence per share for 2014.

Shareholder returns
Unfortunately, Gulf Keystone does not offer its shareholders any type of cash return through either a dividend or share repurchase program.

Valuation
As I have written above, Gulf Keystone made a loss during 2012, therefore it is not possible for me to calculate a historic P/E figure for the company. That said, based on City estimates I am able to calculate that the firm trades at a forward P/E of 305, which is set to fall to 11.3 in 2014, if Gulf Keystone meets its production targets.

Foolish summary
Overall, Gulf Keystone is set to grow rapidly over the next few years but the company is still facing headwinds in the form of potential litigation and oil-well development. Furthermore, despite predictions for future profit, the firm is still making a loss.

So, at this moment in time, I feel that Gulf Keystone Petroleum does not look safe to buy at 150 pence.

More FTSE opportunities
Although I feel that it is not safe to buy Gulf Keystone Petroleum, I am more positive on the five FTSE shares highlighted within this this exclusive wealth report.

Thursday 20 June


Trading statements

Dixons Retail, HML Holdings, UBC Media Group, Ashtead Group, Gulf Keystone Petroleum, Ted Baker, Go-Ahead Group.

Just came across this,




Just received from the court

pathai

Whitehead, David (RCJ)
16:19 (7 minutes ago)

to me
Dear Sir,

The judgment in the case of Excalibur LLC v Texas Keystone and Others will not be handed down in June. The current expectation is that it will be handed down at either the end of July or, failing that, before the 23rd August.

At the end of the trial the Judge indicated that the judgment would be “some months”. That estimate has not changed. The judge does have other duties which do, from time to time, take him away from writing the judgment.

I cannot enter into correspondence concerning any other aspect of the trial. There is no need to reply to this email, further emails will not be responded to.

Once the judgment becomes publicly available you will receive by email either an electronic copy of it or a link to it on the web.


David Whitehead

Clerk to Mr Justice Christopher Clarke

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TIDMGKP

RNS Number : 3427H

Gulf Keystone Petroleum Ltd.

19 June 2013

Not for release, publication or distribution in or into the United States or jurisdictions other than the United Kingdom and Bermuda where to do so would constitute a contravention of the relevant laws of such jurisdiction.

19 June 2013

Gulf Keystone Petroleum Ltd. (AIM: GKP)

("Gulf Keystone" or "the Company")

Further exploration of the Shaikan commercial discovery with Shaikan-7

Gulf Keystone, a leading independent E&P operator in the Kurdistan Region of Iraq, is pleased to announce the commencement of the Company's drilling campaign to explore deeper, yet untested horizons of the world class discovery at the Shaikan field, which the Company operates.

Shaikan-7 to target significant exploration upside

Shaikan-7, the first deep exploration well on the Shaikan block, is targeting the mid to lower Triassic and, potentially, Permian horizons, spudded late on Sunday 16 June 2013. The well is being drilled with the Weatherford Rig 319 (3000HP) close to the crest of the Shaikan structure, approximately 1 km east of the Shaikan-1 discovery well.

Shaikan-7 is being drilled to the lower Triassic to evaluate the potential for significant quantities of light oil and identify commerciality of the deeper Triassic reservoir. The well is then expected to penetrate the Permian, the deepest undrilled horizon to date on the Shaikan structure.

This vertical well is planned to reach a total depth below 4,500m in the Permian and the drilling is expected to take about 9 months.

Commenting on today's announcement, John Gerstenlauer, Chief Operating Officer, said:

"As we are about to commence implementation of our Field Development Plan for the Shaikan discovery and start Jurassic production from the newly constructed Shaikan production facility, the spudding of our first deep exploration well adds a new and exciting dimension to Gulf Keystone's work programme in 2013. With Shaikan-7, we hope to confirm our expectations of major reservoirs beneath the deepest horizon drilled to date and add to what is already recognised as one of the world's largest onshore conventional oil & gas developments."

WH Ireland - SH7
C/o KitKatOil

Broker WH Ireland’s thoughts on Gulf Keystone PLC now Shaikan 7 has spudded -

Gulf Keystone have confirmed the spudding of the Shaikan-7 well, which is targeting the deep Triassic and possibly the Permian horizons. WH Ireland have a risked/unrisked value for Greater Shaikan of 79p/199p respectively. A well result is due in nine months, or at the end of 1Q’14.

Gulf Keystone recently 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.

This will provide GKP with an important source of revenue to drill out other areas within and beyond Shaikan, including Sheikh Adi where a discovery was made in November 2012.

An analyst presentation is due tomorrow which could help to provide further details on the forward drilling programme as well as progress to develop Shaikan. Operationally and financially the company is well positioned, and WH Ireland therefore maintain their target price of 315p.

http://www.investegate.co.uk/gulf-keystone-petrol--gkp-/rns/2012-results-announcement/201306200700114413H/



Todd F Kozel, Executive Chairman and CEO of Gulf Keystone, commented:





"Gulf Keystone is entering a new stage of its development as it matures from a proven oil explorer to a significant producer in the Kurdistan Region of Iraq.

The phased development approach to the implementation of the Shaikan FDP will enable Gulf Keystone to achieve a significant ramp up of production by the year end, whilst ensuring the Company retains flexibility in financing the development of this giant field and bringing us closer to the goal of fully financing our activities from production cash flows.

We look forward to commencing the process of moving from AIM to the standard segment of the Official List during the second half of 2013 and a search process is already underway for a Non-Executive Chairman and at least one other independent Non-Executive Director.

We are fully funded for our current work programme for 2013 and believe that Gulf Keystone is well positioned to realise the full potential of our multi-billion barrel resources."

nasty drop today, any news?

but very juicy rise on 25th!

Heads up that's why.

http://www.investegate.co.uk/gulf-keystone-petrol--gkp-/rns/approval-of-shaikan-field-development-plan/201306260705018599H/
--------------------------------------------------------------

Their's a Investors presentation,a week Friday(London)followed by the AGM end of July.

Shaikan field development plan approved, says Gulf Keystone

StockMarketWire.com

Gulf Keystone has confirmed that the field development plan for the Shaikan field, a world class commercial discovery, has been approved.

Chairman and chief executive Todd Kozel said: "This is an historic moment in the evolution of the company. Gulf Keystone is now fully permitted to commence production from the Shaikan field and this represents a key milestone in the company's growth. We have been a pioneer in the region from the outset and this milestone reconfirms our pioneering spirit and our desire to lead the upstream oil industry in Kurdistan.

"The initial production capacity will start in the coming weeks, steadily increasing to 20,000 barrels oil per day (bopd) and then quickly progressing to 40,000 bopd on the completion of the second production facility. This will increase to 150,000 bopd within 3 years and 250,000 bopd by 2018.

"This is an enormous achievement by the GKP team who have worked so long and hard to achieve this goal and have forged such strong links within the Kurdistan Region, at all levels."



Story provided by StockMarketWire.com

Bought September & December Futures today. Expect to roll both over.

.a>

Let's hope ?

http://www.iraqinews.com/baghdad-politics/kurdish-mp-reveals-deal-between-cg-kurdistan-region-over-oil-amp-gas-law-draft/#ixzz2Xj44puMg

Taken from another BB,some ucseful points.


When you look at the very recent occurrences, it does seem as though things are coming to a head:
================================================
1.90 day deadline given to central government to ratify oil and gas law.
2.Pipeline due for completion to coincide with the 90 day deadline.
3.Kurds agree to pay large percentage from said pipeline to central government.
4.Central government won't get a penny until repay monies owed.
5.Nothing to lose by ratifying Oil and Gas law, everything to lose by not doing so by pipeline completion.
6.Kurds announce permission for GKP to commence production at Shaikan.
7. Kurdistan's Ministry of Natural Resources said the Shaikan field would play “a crucial role”
8. Court case seems immaterial now, whereas belief was news suppression due to this and possible problems with Oil and Gas law.
9. Oil majors in region, but GKP get's the nod.
10.Excellent working relationship with KRG.
11. Share price at ludicrous level and TK under pressure from Institution just when all this is coming to fruition?
12. TK having to justify everything at imminent investor meet?

A lot going on behind the scenes imo and it's about to be revealed!!!!

GKP's New Chairman.


Simon Murray is currently the Executive Chairman of GEMS, and a Board Director of the Cheung Kong Holdings Ltd., Orient Overseas (International) Ltd., Wing Tai Properties Ltd., Arnhold Holdings Ltd., Richemont SA, Essar Energy plc, and Sino Forest Corporation, Omnicorp Limited and IRC Limited. He is now chairman of Glencore. He has in the past served on boards and held advisory positions with a number of companies such as Vodafone, Tommy Hilfiger Corporation, Vivendi Universal, Usinor SA, Hermes, General Electric (USA), China National Offshore Oil Corporation (CNOOC), Macquarie Bank, N.M. Rothschild, and Bain (the consultancy company). He continues to serve on the advisory board of Lightbridge Corporation (USA), and the Development Advisory Board of Imperial College, London.