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.

Taken from ADV.
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dafydd123

If you look at what was announced by the company then the 300m 2P was close to what the house broker had reported and what a few on here had thought might be the case. The 2C of around 1.2Bn was also a little low but the company pointed out a few reasons as to why these numbers weren't breathtaking:

(1) Anything below 1450m was ignored by Equipoise due to the water at Shaikan-6. Considering that Equipoise then had the gall to extrapolate that result for 25 Km right across the block past several wells that had found oil below those levels all the way to Shaikan-4 is breathtaking. Just think about that for a moment.
(2) The size of Shaikan means that there are kilometres of land between the current wells. When GKP places a new well in these empty spaces then the 2C numbers will quickly head to 2P. 15 wells to be drilled within 18 months and we know this is possible as GKP have a tender out for 4 rigs. That's not f***ing about IMHO for a small E&P.
(3)Permian. Nothing included yet. What if.......?
(4)Nothing included in the reserves figures either for the Cretaceous, where steam and EOR techniques could release some big numbers.


Maybe GKP were at fault in not notifying the market of the exploits of Shaikan-6 but it must have been tricky for them to work out what was happening if the cores were saturated with oil but Evian was coming to the surface!



In reality, we're all just pissed off that the sp reacted in the way it did. Down 25% to bounce back up to 16% down at the close. However, this is GKP. In the five years I've held this share then I've seen this a few times for various reasons. It's just traders trading and the market creating a panic. Someone bought those shares today. They may want more tomorrow and the US market is giving them the opportunity by the looks of it. However, they will eventually have their fill and want to sell them back to us to make a few quid.

Meanwhile, we await the prospectus and funding information. Today's news came early. Most didn't expect anything till the middle of next week. When does the prospectus turn up? Hold tight.

still volitile.

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Can't believe this is dropping again ...where are the negatives here ?....

With other prospects...at a guess they have somewhere between 15 to 20 billion barrels in total....multiply that by the cost at the pumps and the percentage owned and you get a mouthwatering valuation....ok this is Kurdistan...not the UK ...but stilll the same...and they are starting to sort things out in Iraq and Kurdistan now....

".....In the five years I've held this share..." from post 4733 implies that this guy doesn't know how to trade a stock. Holding for five years he has missed a few opportunities to lock in profit before it has all been whittled away again. GKP has not been a good 'buy & hold ' investment, imo.

The sp is back to the price it was after Shaikan was discovered and appraised a few years ago now....at that time : it was all new......crazy to think that the sp is hovering around the pound...raising capital should liven things up ...might even get a bid from a major oil company soon.....I know that if I was BP or such....I would take a risk on this one even if it cost a quarter's profits !...

GKP 12bn barrels @ $100 x io% profit divided by ords 888 = 141p Edison
most likely , more complicated, remain undecided, and look fo take over.

this stock has and will continue to disappoint for a good while yet i'm afraid

its bad form starts with TK who is a complete cowboy who happens to have got lucky - but the city has no respect for him
then we had that court case, which GKP won, but yet again, TK showed that he did not know how to behave in public
now we have an ok cpr, which i trust will show to be conservative in due course
finally, this whole field is not only heavy oil (i think), but is based in a very politically difficult and volatile area

i hold far too many at too high a price, but will almost certainly dump most of them before the end of the fiscal year as at least i have some large capital gains against which to offset this very nasty loss

My best guess at support is 85p if the psychological 100p fails... Batten down the hatches time.

Keep on selling.

i sold most this morning - really sickening
may well sell balance too

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which i have done
tried to short, but couldn't though perhaps could if i phoned up

truly dreadful month with this one and blnx
at least i didn't have mrw too

Seems that GENL has also taken a hit on the back of this, though much less severe.

iii--cheers

Next CPR update..April
aktierman

According to John Stafford, MOL will submit their FDP in Q2.

which will then add more to the CPR,which MOL confirmed yesterday.

So this latest CPR will already be out of date in a matter of weeks...!



Following currently ongoing geological assessment of the whole block submission of the Field Development Plan is due by end of April. An updated Total Original Oil In Place (OIIP) and reserve potential estimate of the block will be part of the Field Development Plan. Reserve potential estimates relate to Akri-Bijeel block in the ’Third-Party Audit’ material published today by Gulf Keystone Petroleum Ltd., with a cut-off date of 31 December 2013, is very conservative, does not calculate with the latest positive results and is significantly lower than the current best estimate of the Operator

that's somewhat clutching at straws, but on the basis that GKP won't actually fold, there will come a price - personal call - at which it's worth a punt

I can't really understand why it's dropping....of course we are a long way from proper production but there is so much oil in the ground heavy or not plus the exploration upside...but it looks like I bought too soon though most are only just above today's closing sp....can never tell : sharp rebound now down again...still think it's a super share though...I can't believe you've sold Cynic....really not the time.....can easily go back to 140 plus where it should be....Russia-Ukraine is not helping...

http://www.theguardian.com/business/marketforceslive/2014/mar/13/gulf-keystone-petroleum-reserves-estimates


"The company said:

In order to mover to the next stage of the Shaikan project execution, the company is making progress in its discussions on the near term debt financing options."

Would that involve dilution I wonder.
2517

From an knowkedgable poster.
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once more for clarity
in order to list some worthy accountant is going to have to sign off on a working capital statement
this in short confirms that the Company has sufficient working capital to meet its plans for the next 12 months plus 1 day ( with an appropriate margin of safety!)

So one can deduce either that there is an acceptable offer of funding on the table from a bank(s) or a number of very firm offers from interested parties

all we have to do is wait and see what funding is envisaged and what the terms are


Having watched the webcast again and read the CPR report it is clear that the requirements of listing and the process of " verification" has necessitated an ultra conservative approach

Might we be seeing also for the first time in public the effect of a new Chairman/NEDS on a gung - ho Executive team?

Fair point by he who dares on triple i:

Remember we have nearly $1bn in recoverable costs which are guarantee'd due to the fact that Akri-Bijeel, Ber Bahr, and Shaikan have all been declared commercial discoveries.....that is 2/3rds of the current share price.

Think cyners is telling porkies about selling all at a loss...........