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.

rekirkham: You're welcome!. GKP are currently showing as $1.34 in New York. My PC says that's 82.8p equivalent.

Pullback time here but it can't go down too far, Heritage results day can't have helped...still drilling...

checked RNS....as at 25th aug....they only have got another 800 metres to go before next casting...then another 700 to depth of 3200.........so in a positive perspective drilling will end soon....and the profit taking

watcher

GKP is currently trading up 9.09% in New York!

GKP is now trading up 11.57% in New York.

Great thanks I forgot the DOW was open today.

By my calculations that makes 84p ....

It closed in NY at $1.32, up 9.09%

About 81p, but oil is dropping the last time I looked...

78p this morning.

Pulling back now...ouch...this is one short EK looks he has got right but he does have the stock as well....the drop is in line with the rest of the market...

Estimated bottom out anyone? think I will buy some more at the right time.

Yes good idea : a good stock does not become a bad one just like that for no reason...there should be a very strong rebound soon.

Don't get so prickly RF, it was a simple question requiring a simple answer to pass the time of day.

bb ---$64k question, when is the right time?
2517

The stock looks incredibly promising...I can see this going well over the 100p mark sooner or later...if not when they finish this drilling ....then when they start the next well.

DECCAN HERALD
Wednesday 2 September 2009

IOC-OIL JV eyes Gulf Keystone acquisition
London, PTI:

In a first overseas acquisition, Indian Oil Corp (IOC) and Oil India Ltd are jointly eying acquisition of London Stock Exchange-listed Gulf Keystone Petroleum Ltd for about US$2.23 billion.



The 50:50 joint venture of IOC and OIL, are in talks to acquire Gulf Keystone Petroleum that has operations in Kurdistan, Iraq and Algeria, investment banking sources said here. They are talking to a set of promoters of Gulf Keystone and have valued the entire buyout at US$2.23 billion, a source said. Another investment banker said IOC-OIL joint venture was in talks with the two promoters groups based out of Kuwait.

The promoters are keen to sell but are asking for more, the banker said without putting a value to what the promoters were demanding. Gulf Keystone is a Bermudian incorporated company that has six exploration blocks and two producing fields in Algeria. In November 2007, the company acquired interests in two production sharing contracts in the Kurdish region of Northern Iraq.

Now we know why they've issued today's RNS. Must have been as the result of an approach!

Tried to buy this am @59p but impossible on-line.

Oil India in talks for overseas assets - exec
Wed Sep 2, 2009 3:11pm IST
KOLKATA (Reuters) - State energy explorer Oil India Ltd, which is launching an IPO next week to raise up to $570 million, is in talks with about four companies overseas to buy stakes in producing assets, a company official said.
Oil India, whose main operations are in India's north-east region, already has projects in Libya, Gabon, Iran, Nigeria and Sudan.

"We are in talks with 3-4 companies to buy assets abroad," Narendra Bhalla, executive director of corporate affairs, told reporters on the sidelines of a conference, adding the company had cash reserves of 65 billion rupees ($1.3 billion).

He said the assets were producing blocks, but gave no details.

Chairman N.M. Borah had told Reuters in June the company was racing to acquire producing properties overseas, shifting focus from new fields, to capitalise on cheaper assets during the downturn and limit investment risks.

The company will start drilling its first well in its Libyan block by October, with a budgeted investment of $11 million, Bhalla said. Oil India and state-run refiner Indian Oil Corp each own 50 percent operating interest in the block.

"We would drill four wells in Libya by 2010/11," he said.

Oil India plans to raise as much as 27.8 billion rupees through an IPO, which opens on Sept. 7, making it the second state firm after hydropower generator NHPC Ltd to offer new shares to the public this year.

The company, which deferred an IPO last year amid the global financial crisis, has set a price band of 950 rupees to 1,050 rupees a share