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.

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)?

hali - assuredly so, unless i am being even more stupid than usual - hard to believe ..... surely if EXC win, then they are entitled to a huge slab of equity or it's monetary equivalent?

cynic but would it make a difference to GKP's prospects?

if you only own 70% of something instead of 100%, what do you think?

cynic 70% of a lot is still a great deal!

true, and the "lot" is getting "lotter" but 100% of "lotter" is a lotta betta!

It should be remembered that any award to Exlca,would be offset by them having to compensate GKP the% of $780m aready spent.30% would be $234m,so quite as bad as 1st appears.
ps.
Not that i believe any award will be at that level?

that's interesting - for once and thank you :-) - but of course it would all depend on the quantum of EXC's award in the first place ..... that said, having read most of the (pro-GKP) guff here during the trial, i'ld concur that EXC's backers are favourites for a pasting

A question to an expert,"what were the chances of finding oil(pre dril),lzilch shades of grey was the reply" ,(a real wid cat) but as we know it was sucessful.Suddenly the 3rd party became a wounded animal claiming his share?
So sometime in the next 4 weeks(pre- 23rd Aug) we will find out?

will the carpetbaggers be packing their bags with wads of dosh or to leave town in a hurry?

Looking at the volumes of late,it would seem most are keeping theire powder dry waiting for Aug 5th when it qualifies for an ISA account?
How will the market deal with this possible surge in demand,is th $64k question?

i suspect it has not much to do with it ..... i suspect holders are remaining holders while any new money will await the court result ..... any position of size taken before the result will almost certainly be done with some sort of safety net ..... for the pi, the only worthwhile safety net is a guaranteed stop

From Genel report today:

'Ber Bahr (40% working interest, Operator)

In May, the Company announced that a successful side track of the original Ber Bahr 1 exploration well confirmed the existence of a commercial oil discovery. In several tests, conducted over a period of days, a sustainable flow rate of 2100 STB/ day of 15 degree API oil was achieved from the Middle Jurassic age Sargelu Formation. The recoverable reserve number for the discovery is currently estimated to be between 50 and 100 mmbbls. Appraisal plans include shooting 160 km2 of 3D seismic in the third quarter of 2013 followed by an appraisal well (Ber Bahr 2) in early 2014. Early oil production is expected to begin from the middle of 2014. '

From GENL's h/t report.


Pipeline Update

Significant progress has been made on the independent KRI pipeline infrastructure to Turkey which is expected to be completed in the last quarter of this year. The first phase from the Taq Taq field to Khurmala is now operational. The pipeline has an initial capacity of 150,000 bopd and has the potential to be increased to some 200,000 bopd. The second phase involves the conversion to an oil pipeline of a pipeline from Khurmala to Dohuk, which was originally intended for gas. This will have an initial capacity of 300,000 bopd and the conversion is now complete. The final phase is a pipeline from Dohuk to Fishkabur on the Turkish border. This is under construction and expected to be completed in the fourth quarter of 2013. "

Dear Sir,

The judgment in the case of Excalibur LLC v Texas Keystone and Others will not be handed down in August. The current expectation is that it will now be handed down either in the first week of September or the very beginning of the next.

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

020 7947 6296