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.

cyril - i'll do my best to read "war and peace" but perhaps only if i'm having trouble sleeping ..... surely your post could have been 1/4 or even 1/6 of its length without losing its thrust thus assuredly gaining in impact and effect?

============

having started reading, i'll change the above to 1/10 or less ..... i really shan't bother to read it all as i'm afraid it is clearly little more than a sick-bowl of personal spew

It was a superb post by BBBS - apparently it has been withdrawn/censored over on the 3i board that the aforementioned poster frequents. For some bizarre reason.

Interestingly though only 44% of the eligible vote turned out! Given 56% of the eligible vote abstained or more likely didn't vote for a variety of reasons one has to ask just how many PI's(PI's have 50% of the total equity) didn't get to vote. Cumulatively that's an awful lot of wasted votes.

cynic apparently there is something fundamentally wrong with the situation to warrant such a torrent of bullshit.

too many sennapods!

==========

omce - as a holder via CFDs, i didn't get a chance, but in honesty, i'm not entirely sure in which direction i would have gone

the diatribe above is probably just the venting personal spleen, but i'll never find out ..... my gut feel is that TK and the rest of the "pigs in the trough" need to be controlled if the company is to be taken seriously by the city ...... that said, i accept there was a somewhat hidden agenda related to the choice of the NEDs, but this chap Simon Murray is unlikely to be just a poodle to either camp

It will be interesting to see how it all turns out...

BBBS is highly respected I gather.

Dimmock for one should never get an NED position every again after the EEl disaster. Plenty of shareholders got royally shafted In hear.(Wasn't one of them, never heard of the company)

The show must go on ......:)

have a good w/e

cynic,yep i agree,but the reason i posted it is that it has been removed from some of the other boards?

Another test,

hxxps://www.avanza.se/aza/press/forum/postsForUser.jsp?signatureId=51203#post_3019307

Translation (Google Translate) from original Swedish follows:

An oil field is basically a trap underground trapped liquid oil, which prevented it from flowing on. A common trap is an anticline. An anticline is like an upside-down-facing bowl that oil floats in and once there, it will not be on. The dish (anticline) will continue to capture floating oil until it is so much oil in it that it overflows (actually under) the two edges. The dish has reached its "spill point". Actually, it often involves several bowls (one for each formation) on top of each filled individually (stacked reservoirs). Atrush and Shaikan oilfield is both antique-liner and they are filled in a similar manner. But since Atrushs "bowls" cracked one speaks of a large reservoir with communication between formations. Shaikan has however several separate reservoirs. It has been through seismic come up with how deep bowl edges lies, then how deep the oil can fill up the bowl before the trap is full, and the oil must walk on.

This post is basically about Shaikan but its implications concerning the whole area, including Atrush.

Shaikan-6 is considered to be "well that disappeared." The well was drilled in 2012 and was drilled to test the southeastern flank of the Shaikan and also find the expected OWC (Oil Water Contact) in the Jurassic which was calculated to -2,230 meters in Butmah formation, which in addition to seismic and pressure curves supported by the fact that this also was the "spill point" Butmah formation has the structure. If the "dish" is filled with oil to its bottom so it's reasonable to have water below as the oil should have walked on at that depth.

The well was drilled in April 2012 and got a nice note from Gulf Keystone:
"Shaikan-6 Appraisal Well
The Shaikan-6 appraisal well, 9 km to the east of the Shaikan-2 appraisal well, has drilled to the depth of 3,455 meters in the Kurre Chine B formation in the Triassic where casing has been set. A preliminary evaluation of the comprehensive logging suite indicates a continuous oil column in the Jurassic Barsarin, Sargelu, Alan and Mus formations and Extending into the Butmah formation. Well logs from the Triassic Indicate the hydrocarbon presence in both the Kurre Chine A and Kurre Chine B formations.
Shaikan-6 has recorded the deepest oil shows so far as indicated by both logs and core samples obtained by the Company. These oil shows havebeen recorded below the Company's originally prognosed Jurassic oil / water contact level for the Shaikan structure. A testing program is planned to Verify the deeper oil potential.
The well will continue drilling to an Estimated TD of 3,800 meters, subject to technical conditions. "
http://hsprod.investis.com/ir/gkp/ir.jsp?page=news-item&item=971107138095650

Lo and behold, Shaikan-6 had found oil 150 meters below Butmah-bowl bottom.
In June, then a reserve update which mean OIP at Shaikan was increased from 10.5 to 13.7 billion barrels of oil.
Then we hear nothing more from Shaikan-6 until the annual report in June 2013 which says:
"Shaikan-5 and -6 were drilled to appraise the giant structure down the flanks and Their results Indicate a potential dividends in terms of future productivity between the west and the east parts of the field. While solid results obtained with Shaikan-5 confirmed the extremely prolific nature of the Jurassic interval of the structure, We decided to suspend Shaikan-6, Which May Require a re-test, while we evaluate results obtained with this well in more detail. "
www.gulfkeystone.com/uploads/gulf_keystone_ar12.pdf

It sounded not so good

But in a presentation in April 2013 gives COO John Gerstenlauer another description which he says that they got a little weird test results that seemed to give the good news, after some analysis, it did not seem so good anymore, but now they have swung back and interpret the results as much good.
hxxp://www.naturalresourcesforum.com/index.php/john-b-gerstenlauer-gulf-keystone-petroleum/
8:53 into the presentation

Many words, but the bottom line is that the well that disappeared from reporting in the highest degree to be taken seriously. The reason for this is, as I understood it all, that the only reason that oil would be 150 feet below "spill point" is that there is an oil trap with deeper "spill point" with the oil to end up there. To find such a trap we must find a bigger bowl outside of what we know as Shaikan.

The large bowl, we have seen once.
http://www.gulfkeystone.com/uploads/gkp-investor-presentation-may-2010.pdf
Figure 14, 18

Anything that is not blue, fits in the bowl.

Well actually it is not the whole truth because Shaikan-6 found Jurassic oil 150 meters DEEPER than this scenario shows. Some of the blue also teach themselves inside edge of the bowl.

As you can see almost the entire surface of the blocks Ber Bahr, Sheikh Adi and Shaikan inside the OWC as Shaikan-6 showing.

Since then, we have Atrush, Swara Tika, Ain Sifri (Simrit), Summail and Al-Qush that are off screen ... but not outside of the bowl ...

No wonder the Shaikan-6 results are not published and made official. They would put unitiseringsbollen rolling away. It had not been possible to avoid negotiations on the oil field interconnections with each other.

Shaikans little Butmah bowl HAVE However ruptured and the hypothesis of the big bowl to be taken seriously.

But is not it time to lift the blanket. All mumbles a while.

cyril - for goodness sake - and everyone else's - please learn how to precis and/or to write a synopsis! .... surely even you are old enough to have had a proper education wherein you would taught such basics in your english class?

if you can't be bothered to do that, i wonder if it's time you gave up posting and taking up so much space

I presume the Swedish article , in a nuttshell, says...

Shaikan, Atrush, Sheik Adi etc are all linked and form one massive reservoir..
Ergo Unitisation comes into play when ascertaining the value of each PSC for takeover purposes or any other valuation reason.

so more regurgitation and nothing new then :-)

Cynic,i have no intention of wet nursing you, nobody says you have to read it,i will continue to post info that could be thought useful in decision making.As far as education is concerned"clearly GOOD MANNERS were left out in your case.Perhaps YOU could post something worthwhile for a change,instead of criticisum?
Those are my last words,as i no intention of getting into petty type squabble,something that you seem enjoy.

The company’s new board should waste no time in putting aside differences and getting down to business. It needs to redraw its controversial executive pay scheme. It should also arm itself for next month’s finale of the court battle with Excalibur Ventures, a one-time partner in Kurdistan headed by Rex Wempen, the former US Green Beret who is claiming $1.6bn in compensation and damages. That case should decide Gulf Keystone’s future more than any lingering boardroom tensions.


http://www.ft.com/cms/s/0/b2ae254a-f546-11e2-b4f8-00144feabdc0.html#axzz2aN6jni6c

http://rudaw.net/english/kurdistan/29072013

ERBIL, Kurdistan Region - With China already sucking up more than half of the oil production coming from Iraq, the Kurds may be next in the Chinese energy cross hairs.

The Chinese begun to sink their teeth into the Kurdish Region’s vast oil potential in 2009 when Sinopec acquired Addax Petroleum, which holds a joint agreement with Genel Energy to develop the Taq Taq oil field.

To date, a total of 16 development and appraisal wells have been drilled in the Kurdistan Region of Iraq, according to a report from The Oil & Gas Year Review for Kurdistan in 2013.

“Sinopec is China’s largest oil company and has immense capacity to support the development of the downstream sector, both in Kurdistan and the rest of Iraq,” Yi Zhang, the chief executive officer of Addax Petroleum, said in the report.

Recently, a Chinese delegation visited Rasheed Tahir, the Kurdistan Regional Government’s (KRG) minister of finance and economy, to discuss the investment potential for numerous sectors, including oil.

Michael Howard, the adviser for the minister of natural resources, said currently he is unaware of any further Chinese involvement in Kurdish oil outside Sinopec.

“The region has a lot of economic potential and we have a lot of investors from a lot of different countries. Having said that, they may well be talking to individual oil companies we wouldn’t necessarily be aware of,” he said.

The Chinese Embassy in Baghdad did not respond to inquiries about increased vested interest in Kurdistan’s oil market.

But it is clear that China is looking to Kurdistan to diversify its oil resources through Addax Petroleum, a subsidiary of Chinese state-owned Sinopec.

“We hope there will be opportunities for Addax Petroleum and our shareholders, Sinopec, to consolidate with other operators in the Kurdistan Region of Iraq, to farm into blocks or to obtain equity positions through mergers and acquisitions activities,” Zhang said in the report.

at least my tripe is succinct, and if i do post an rns or similar I nearly always paraphrase it to its key points .... perhaps you should try that mental exercise!

Always useful to add your own thoughts/comments Cyril.
After all aren't we posting information and interpretations for the benefit of others with whom we are looking to engage in some form of dialogue?

No gobblygook omce36.....cynic won't understand....plain english please.,.

on the other hand, emus speak almost fluent gobbledegook! :-)

anyway, my view of this stock, is that sooner or later, or even later rather than sooner, it will prove to be a very worthwhile holding, despite all the current shenanigans ..... mind you, that does presuppose that GKP win their law suit and that is always a great unknown in the best and least muddied of circumstances

cynic even if the court case is lost would it make a big difference?

omce36. of course your right,however i see very little of that here.Below is BBB;s responce to the Swedish post.


P.S. I have just caught up with other posts on this board and was pleasantly surprised to read that I'm not the only one banging on about regional connectivity - the swedish site about 'the well that disappeared' (SH-6). Disappeared indeed. A vanishing act from page 17 of the Investor Day presentation but nobody had thoughts about questions such as this that day. Some will remember my post in May 2010 when I first speculated the 100 billion barrels POTENTIAL OIP based on the same geometrical, geological, geophysical and petrophysical principles. I agree with this swedish author's thinking, and with most - but not all - of what he/she has written. I would point out that with information available in the public domain today, it is clear that both Atrush & Swara Tika are NOT part of the mega-structure, at least with regard to Jurassic connectivity. This is because the level of the Jurassic OWC is already known at Atrush - and it is very much shallower than both current LKO (lowest known oil) and anticipated OWC at Shaikan. In the case of Swara Tika, this is known to be a Triassic discovery (no report of anything significant in the Jurassic). However, there still remains potential for Atrush to extend into the eastern-end of Sheikh Adi (DNO's old 'Sariyah' prospect that I posted about many moons ago), and also potential for Swara Tika to extend into the north-eastern corner of SA. Furthermore, based on DNO's reported results from Summail, that too cannot be part of the megastructure at Jurassic levels. But the remnants for the potential mega-structure at Jurassic levels are still VERY significant: Shaikan, Al Qush (nailed-on), southern and western parts of Sheikh Adi, a chunk of Ber Bahr, and Simrit on Ain Sifni. All IMO, and note the word POTENTIAL. And then there is the as-yet barely-poked potential for the mega-structure at Triassic and Permian levels - some more data needed here before I will say more on that - come in #7, is your time not yet up? Patience still required folks. Please note that all the foregoing on 'connectivity' is only my OPINION. Some of you might find it strange that technical matters are still being relegated to a postscript. But the reason in this case, is that the swedish author specifically mentions 'unitisation'. This is what 'I do', it is my job, it has been my job for the past 20+ years (the 'latter part of my career'). I have in fact disclosed this long ago on the GKP bb (please read my posting history), but it is now quite prominent again in the main body of this post

My opinion for what it's worth regarding the CC,is the reason we're wating so long is not
the Wempens claim,more a case of getting the decision correct (ruling on 3rd party rights)?