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.

210/211 looks to be the current bottom, though offers remain about 4.25 x bid

good grief - it's cardboard box man!
actually shortie is pretty good on his calls, though his MO is too scary for me

Trouble with the chart,trading at 216p at present.

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http://www.judiciary.gov.uk/Resources/JCO/Documents/Judgments/summary-excalibur-llc.pdf

From The Times

Judge dismisses claim for Gulf Keystone oilfield

The Shaikan oilfield discovery in 2007 turned out to be one of the biggest made anywhere in the world for years
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Gulf Keystone’s project in Kurdistan
The Shaikan oilfield discovery in 2007 turned out to be one of the biggest made anywhere in the world for years
Tim Webb
Last updated at 12:11PM, September 10 2013
A High Court judge has thrown out a $1.6 billion (£1 billion) claim made against Gulf Keystone by a former US special forces captain.
In a packed courtroom, Judge Christopher Clarke said that Excalibur Ventures, the complainant’s company, had no valid claim.
Shares in the AIM-listed Kurdistan focused explorer, which have been suspended pending the outcome of the case, gained almost 20 per cent within five minutes of the suspension being lifted.
The three-year case has cast a shadow over one of AIM’s biggest companies, which some analysts believe could become a takeover target now that the uncertainty has gone.
Rex Wempen was seeking a 30 per cent stake in Gulf Keystone’s giant oil fields in Kurdistan, the semi-autonomous region of Iraq.
Excalibur, a two-man company, said that it helped Gulf Keystone get its hands on the Shaikan field in 2007, which turned out to be one of the biggest discoveries made anywhere in the world for years.
The prize asset is estimated to hold at least 12 billion barrels of oil, with production of 250,000 barrels per day due to come on stream by 2018.
Judge Clarke said that Excalibur “did not have the necessary financial resources and technical ability” to get a share in the Shaikan field when it went up for grabs.
Todd Kozel, chief executive of Gulf Keystone, said: “We are very pleased to have achieved the best possible outcome from the point of view of the Company and our shareholders. We look forward to pursuing the Company’s stated objectives for the future, now that we have the Court’s decision regarding these historical events.
“We understand that the legal process must take its course once a claim has been lodged, but it has been unfortunate that the Company and its shareholders have experienced significant uncertainty and concern over the last two and a half years and that its executives have been engaged in a protracted and costly dispute to protect the position of the Company and its shareholders.”
Gulf Keystone shares resumed trading at midday and rose 19.7 per cent or 37p to 224.7p.

Maestro - Why don't you ever have anything but abuse to contribute..?? If you disagree then fine, if you have something to add then please do..

he does ... like me, he adds periodic abuse :-)

apologies if posted up before -
"Memery Crystal Partners, Harvey Rands and Nick Scott say: “We are pleased that justice has been done after two and a half years of litigation and 57 days in Court. Commercial common sense has prevailed. The Defendants will now seek to recoup their costs, firstly against the £18.5m currently deposited in Court by the Claimants and secondly, the balance, if any, from the Claimant’s third party litigation funders”.

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Looks like the 50mda is to cross the 200mda?

so what?

From the GKP Presentation that Joseki reported on, 28th May 2012

"The CPR will be included on our eventual prospectus for FTSE listing. The listing itself however will not be until after the lawsuit, October later this year set. We will clear Excalibur first to ensure the FTSE route is clear.

Tony Peart sounds very confident Excalibur are just digging themselves a hole. Excalibur are not an E&P company, and in Kurdistan you cannot have any working interest if you’re not an E&P. Given our preliminary actions thus far, it’s going our way. But to be prepared for worst-case scenario, Excalibur in the most unlikely event they win, would only be allowed damages.. since as stated above they cannot have any operating interest. In terms of “damages”, Excalibur have not spent a single penny in Kurdistan. Even if they win the case and are awarded something, it won’t be much. Their lawyers will be pleased nonetheless however."

MONEY was all EXC ever wanted and i am delighted that they and their backers got very badly burned

HTTP://www.gkpinvestor.proboards.com/thread/2252/reports-court-on-excalibur-verdict

Gulf Keystone Petroleum Limited Becomes Bid Target After Court Win


Roland Head

Today's court victory means Gulf Keystone Petroleum Limited (LON:GKP) is now a tasty takeover target, says Roland Head.

Gulf Keystone Petroleum (LSE: GKP) shares were suspended until noon yesterday, but more than made up for lost time by gaining nearly 20% when trading started. They've since fallen back a bit, and are now around 16% above Monday's close.

The cause of the temporary suspension was the long-awaited judgement in Gulf Keystone's court battle against its former partner, Excalibur Ventures, which claimed it was entitled to a share of Gulf Keystone's prize asset, the 14bn barrel Shaikan oil field.

Judge Christopher Clarke ruled against Excalibur yesterday, confirming Gulf Keystone's undisputed ownership of its prize asset, and allowing the firm's shareholders to look forward with confidence.

Turning the corner

Earlier this year, Gulf Keystone faced criticisms relating to its corporate governance, legal troubles and lack of progress in bringing Shaikan into production. All of those criticisms have now been addressed, and today's court victory means that the firm's move from AIM to the Main Market later this year should be assured.

The remaining obstacle facing Gulf Keystone, and other major Kurdistan producers, is the region's lack of export infrastructure. This should be addressed later this year, when a pipeline allowing direct exports from Kurdistan to Turkey is due to come into service.

In parallel to this, Gulf Keystone is building out its production infrastructure, and expects to be producing 40,000 barrels of oil per day by the end of the year, and 150,000 bopd by 2015, triggering strong cash flow growth.

Shaikan likely to get bigger

Gulf Keystone's Shaikan field is already a giant, boasting a mean estimate of 13.7bn barrels of oil in place. However, it's quite likely to get even bigger, as Gulf Keystone continues to drill development wells to test the limits of the field.

The firm is currently drilling the Shaikan-7 well, which is expected to complete in spring 2014. If successful, Shaikan-7 could lead to a significant upgrade to Shaikan's resources.

Takeover target?

According to Gulf Keystone, Shaikan is the largest onshore oil development in the hands of an independent operator anywhere in the world. It's an obvious takeover target, especially as Kurdish oil is relatively cheap and easy to extract, compared to offshore oil fields.

Most investors believe that a takeover is the natural end goal for Gulf Keystone, and with both Exxon Mobil and Chevron already present in Kurdistan, plus likely strong interest from Asian national oil companies, a bid might not be far away.


http://www.fool.co.uk/news/investing/2013/09/11/gulf-keystone-petroleum-limited-becomes-bid-target-after-court-win.aspx

A takeover target? Well bring it on I say, not before the sp has done some serious navigating north though!

GKP and a number of other successful E&P companies look to make tasty targets, but it's rare for anything to materialise

http://www.investegate.co.uk/gulf-keystone-petrol--gkp-/rns/update-on-move-to-official-list-of-the-lse/201309120700107946N/

Edging nearer to my buyback 200p

i've been watching (and waiting) too ..... there may well come a time in the near future when the stock gets oversold as stale bulls finally get out

Long way from being over sold at the moment. 2hr chart below, is what I'm using for my buyback..