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.

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

Oh good grief. Another month to wait.Not what everyone wants to hear...

Yes another 2/3 weeks to wait,in the meantime 1st production and get some operation update? 161p at present?

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almost worth buying again

Just have.
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they're now down to 157 ..... i'm just going out for a cycle for an hour or so, so shall look again on my return .... to be honest, i already have enough, but if they're cheap enough .....

Theirs some doubt as to whether GKP qualifies for an ISA,due to being registered in Burmuda?

Good timing back to 161P(i hope?).

PF1 is now a tad over due.Wonder what is going on there?
Genel results webcast yesterday was informative vis pipelines/export etc etc
http://cache.merchantcantos.com/webcast/static/ec2mc/4000/5275/9523/10962/Lobby/default.htm