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.

EK diary today...

"I have traded Gulf Keystone (GKP) twice on the bull tack in recent days but only for an hour or two on each occasion - and at a profit as it happens since it proved that the market had overreacted to finance raising proposals and declarations. However, the essential truth is that this company could finance itself much more modestly by getting one well going and using the profits from that to finance the second. Given that there is the gathering suspicion that even that policy might in practice yield a negative cashflow one can quite understand that the management have elected to go for broke and raise $100m+ and get it all over and done with. But, on this scenario, the end result remains that Gulf can reasonably be seen as a forthcoming total bust."

Posted the doomsday articles as i believe one should be made aware,however i feel
MOL would snap up Akri Bijeel for $150m+(half of it;s value) which would more than cover GKP. Although looking for$250m,$101m will see them through until end of Jan 2015.

To back uo my thoughts on ABm c/ped this.


Akri Bijeel


Bijell-2 drilling

-- already flowed oil in the Jurassic, Jurassic Bijell‐2 DST2 3,764 – 3,903mMDRKB 3,186 – 3,325mTVDSS flowed up to 1,900 stb/d oil with no water.

Now very close to TD

'-- Bijell-2 well was spud on 13 March 2013, currently drilling the upper Jurassic section. Planned TD is 5330m, will be tested in Q1 2014.'

13/03/14
'Bijell-2, a deep appraisal well targeting the Triassic horizons of the Bijell discovery, is currently drilling 12 1/4 " hole below 4,750 metres in the Kurre Chine Anhydrite formation.'

----------------------------
Mol are to release new figures in April.

If you start talking poker ; GKP hold an ace with the biggest (or just about with a massive oil discovery)...that is a fact...now they need to raise funds for production ....nothing wrong with that...I can't see the problem....it might come in stages that a bank or institution will lend to them upon delivery...stage 1...stage 2...etc....could be that a major oil company steps in with a proposition.....just guesswork......but should funding come and it should...and I would like to think that whoever steps in is not going to regret it and will consider themselves lucky in the long run with such massive oil puddles in Kurdistan just waiting to be extracted....(Iraq is a lot less in the news nowadays...much better).....to me more upside than downside...just the size of the dilution to worry about...but that is required so that this company can prosper....I hope the management gets the banks, institutions,oil companies to compete for this extraordinary discovery that is Shaikan !...

Another question I raises why (as TW points out) would nobody want to lend them capital......?....this (Shaikan) is the largest oil discovery on land (that is) for years.....to me this is way undervalued.as long as capital is forthcoming....and it should be...if I was a bank I would be ringing them now...!....

Are you not a banker rf?

Wish I was Balerboy......the market does not like uncertainty......the quicker this fund raising exercise is realised the better....if and when : I would think that the sp would go up by at least 20p or sp regardless of the dilution.....we just have to hope that it is not a massive dilution.....they do have this new well of theirs as back up....that should help...

iii-cheers

Re: Net Asset Value
investor48 3UP
Hi Jacksalad,

Looking at your calculations:

1.If you use 1billion shares as the total number of shares,then you cannot subtract the debt attributable to the CB's.The CB holders cannot redeem and convert at the same time.

2.Clearly as per the CPR,Shaikan's 2C resouce attributable to GKP is circa 380million barrels.Afren paid circa USD400million for Barda Rash 2C and 3C resource based mainly on one well drilled in 2010. The CPR,however, did not place a value to the 2C because GKP has not finalised the investment required to take GKP's production to 90K barrels per day.The CPR values the 2P at USD6.16 per barrel using a NPV of 10percent.Arbitrarily,I have used a conservative value of USD5 per barrel,a 20percent discount from the USD6.16 per barrel.This will value the 2C resource moving to 2P at circa USD1.90Billion.

3.Hence for Shaikan only,the net asset value to GKP,USD1billion(as per the CPR 2P resource)+USD1.90Billion-USD325million(CB)-USD250million(straight bonds)=USD2.325Billion.Converting this to Sterling/1.66 = 1.4Billion pounds.

4.Total number of shares I am using 910million shares as I have assumed the CB's are redeemed and hence cannot be converted.

5.A very rough net asset value per share is 1.4Billion pounds /910million shares =154p


No value has been given to the 2C resource estimates for SA.As for AB,the CPR gives peanuts 2C to Bijeel and Bakrman at 43million barrels,This 2C value has made MOL furious as it has messed MOL up big time in valueing AB.MOL has publicly said that Kurdistan is a game changer for the company!MOL plans to come out with their own 2P and 2C resource soon.

Most analysis have given a value from 100p to 183p based on the CPR,at this stage of GKP's development.The 100p value was given by Canacord that gave a value of more than 200p for TRP,that has yet to make an oil discovery!!It just shows the credibility of this analyst and I really wonder how he made his bullish assumptions to arrive at more than 200p for TRP!!!

Lots of upside for 2P and 2C resource in Shaikan as it increases it's production to 150K,250K ,etc,etc over time.SA-3 results are important as it could show possible connectivity,meaning a greater Shaikan.

SH-7 will test the Permain anytime soon and this could be a new discovery!!Sometimes I wonder if March 2014 reminds us of May-June 2009 before the SH-1 transformational news.Since no new shares can be issued,the only other way is to endeavour to get some cheap shares from PI's is by creating a fearful investing atmosphere!!At this stage,it is ironic that fear is everywhere that stamped from the CPR and Prospectus that was mandatory for GKP to move to the main board.

Best wishes to all and Good night

25 March 2014



Gulf Keystone Petroleum Ltd. (AIM: GKP)

("Gulf Keystone" or "the Company")



First Day of Dealings on the Main Market of the London Stock Exchange



Further to previous announcements, Gulf Keystone announces that its common shares will today be admitted, with a standard listing, to the Official List of the United Kingdom Listing Authority and to trading on the London Stock Exchange plc's ("LSE") main market for listed securities ("Main Market") (together "Admission"). Dealings in the Company's common shares will commence on the Main Market at 8.00 a.m. GMT and trading in the Company's common shares on the AIM market of the LSE will be cancelled simultaneously.



The Company is not raising any funds or issuing any new common shares in connection with Admission. The Company's TIDM code on the London Stock Exchange will remain 'GKP' and, on Admission, there will be 888,933,057 common shares in issue.



The prospectus, prepared by the Company in connection with the Admission, is available on the Company's website at http://www.gulfkeystone.com/investor-centre/documents-for-inspection. It is also available for inspection at the office of Memery Crystal LLP, 44 Southampton Buildings, London, WC2A 1AP, during normal business hours.



Commenting on today's announcement, Simon Murray, Non-Executive Chairman of Gulf Keystone said:



"We are very pleased to be announcing Gulf Keystone's transition from AIM to the Main Market of the LSE today. The move up reflects the considerable success that the Company has enjoyed since its IPO, and marks the end of the move up process involving a lot of hard work by the Company and its advisers. I am grateful to them for all their support in enabling this important event to happen, as indeed I am to our many stakeholders, including the Kurdistan Regional Government, our partners and our shareholders.



From today's Main Market platform, with all the corporate governance expected of a Main Market company, we have a clear plan for continuing to grow and create further value from our world class operations in the Kurdistan Region of Iraq. With an extremely active operational schedule, the expected near term ramp up in production from Shaikan, a constantly improving political backdrop and a strong team in place, we are extremely positive about Gulf Keystone's future."



Enquiries:



Gulf Keystone Petroleum:


+44 (0) 20 7514 1400

Simon Murray, Non-Executive Chairman



Todd Kozel, Chief Executive Officer

Anastasia Vvedenskaya, Investor Relations







Mirabaud Securities LLP


+44 (0) 20 7878 3362

Peter Krens







Bell Pottinger


+44 (0) 20 7861 3232

Mark Antelme / Henry Lerwill





or visit: www.gulfkeystone.com



Notes to Editors:

· Gulf Keystone Petroleum Ltd. (AIM: GKP) is an independent oil and gas exploration and production company focused on exploration in the Kurdistan Region of Iraq.

· Gulf Keystone Petroleum International (GKPI) holds Production Sharing Contracts for four exploration blocks in Kurdistan, including the Shaikan, Sheikh Adi, Ber Bahr and Akri-Bijeel blocks.

· GKPI is the Operator of the Shaikan Block, which is a major commercial discovery, with a working interest of 75% and is partnered with Kalegran Ltd. (a 100% subsidiary of MOL Hungarian Oil and Gas plc.) and Texas Keystone Inc., which have working interests of 20% and 5% respectively. Texas Keystone Inc. holds its interest in trust for Gulf Keystone, pending transfer of its interest to the Company.

· Gulf Keystone is moving into the large-scale phased development of the Shaikan field targeting 100,000 bopd of production capacity during Phase 1, following the approval of the Shaikan Field Development Plan in June 2013.



Disclaimer



This announcement contains certain forward-looking statements. These statements are made by the Directors in good faith based on the information available to them up to the time of their approval of this announcement but such statements should be treated with caution due to inherent uncertainties, including both economic and business factors, underlying such forward-looking information. This announcement has been prepared solely to provide additional information to shareholders to assess the Group's strategies and the potential for those strategies to succeed. This announcement should not be relied on by any other party or for any other purpose.



This communication and the information contained herein is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States unless they are registered or are exempt from registration. Any public offering of securities to be made in the United States would be made by means of a prospectus that would contain detailed information about the company and its management, as well as financial statements. The company does not intend to register any portion of this offering in the United States or to conduct a public offering in the United States or any other jurisdiction. Any public offering of securities to be made in the United States would be made by means of a prospectus that would contain detailed information about the Company and its management, as well as financial statements. Copies of this communication are not being, and should not be, distributed in or sent into the United States.



This communication is directed only at (i) persons who are outside the United Kingdom or (ii) persons who have professional experience in matters relating to investments falling within Article 19(2) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended from time to time (the Order) or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order or (iv) certified high net worth individuals and certified and self-certified sophisticated investors as described in Articles 48, 50, and 50A respectively of the Order or (v) persons to whom this communication may otherwise be lawfully communicated (all such persons together being referred to as relevant persons). Any investment activity to which this communication relates will only be available to and will only be engaged with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.



This communication is distributed in any member state of the European Economic Area which applies Directive 2003/71/EC (this Directive together with any implementing measures in any member state, the Prospectus Directive) only to those persons who are qualified investors for the purposes of the Prospectus Directive in such member state, and such other persons as this document may be addressed on legal grounds, and no person that is not a relevant person or qualified investor may act or rely on this document or any of its contents.



This information is provided by RNS
The company news service from the London Stock Exchange

END

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See more at: http://www.malcysblog.com/#sthash.HZhhFxe0.dpuf

http://capitolintelgroup.com/gulf-keystone-mol-does-not-exclude-bidding-for-company-pkn-orlen-not-actively-seeking-deals/

I can see MOL making an offer for AB,as they are the operator,not so sure about the company?

Results end of 2013, due out tomorrow(27th).

ANKARA, March 26 (Reuters) - Turkey is ready to help Iraqi Kurdistan export its oil to world markets once oil storage tanks in the Mediterranean port of Ceyhan are full, Turkey's Energy Minister Taner Yildiz said on Wednesday.
Once the tanks are full and there is an excess amount, "we would like this to be offered to world markets ... on behalf of Iraq," Yildiz said in an interview with Turkey's NTV Television.
"Regardless of the volumes, Iraqis will auction and sell this oil at world market prices. This could be done via Tupras or brokers in other countries," Yildiz added.
Oil flow from the Kurdistan Regional Government's (KRG) pipeline via Turkey started in December and so far around 1.35 million barrels of oil have been stored in tanks at Turkey's southern port of Ceyhan.
The capacity of the three tanks at Ceyhan allocated for Kurdish oil is around 2.5 million barrels.
But exports of Kurdish oil have been held up due to slow progress in talks between the KRG in Arbil and the central government in Baghdad, who are at loggerheads over the payment method and sharing of Iraq's oil revenues.
Baghdad's withholding of funds to punish the Kurds for trying to export oil via the new pipeline has only added to the deadlock.
Looking to break the impasse, the semi-autonomous region last week announced that it will export 100,000 barrels of oil per day through a Baghdad-controlled federal pipeline from April 1.
"As a goodwill gesture the Kurdistan Regional Government (KRG) has offered to make a contribution to Iraqi oil pipeline exports to give the negotiations the maximum chance of success," Prime Minister Nechirvan Barzani said in a statement.
The oil is to be exported via Iraq's State Oil Marketing Organisation (SOMO) and the revenues deposited in the Development Fund for Iraq (DFI) account in New York.
(Reporting by Humeyra Pamuk and Orhan Coskun; editing by Jason Neely)

http://en-maktoob.news.yahoo.com/turkey-says-ready-help-export-iraqi-kurdistans-oil-094858924.html

main market as per company forcaste, next one is new well flowing 10 k bopd
making total 20k bopd may 2014

http://www.investegate.co.uk/gulf-keystone-petrol--gkp-/rns/2013-results-announcement/201403270700183220D/

For anyone interested,11am today on the co's site theirs a Web cast.

LISTEN: On-Demand Version Now Available - Gulf Keystone Petroleum (GKP)

Full Year Results 2013

Click here to listen]

A good intraday uptrend

Some points from video.
--------------------------------------------------------
$103M for year end,worst case.
Up to $250m fund raising.
99.9% of oil exported
Trucking perferred method at present.