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.

Kurdish oil export to world ‘starts in May,’ Arbil and Ankara declare

Kurdistan Regional Government (KRG) Prime Minister Nechirvan Barzani said they will start exporting oil as of May 2 – with or without the central Iraqi government’s consent, speaking in an interview with Iraqi news outlet Rudaw.

“We have stored oil there and on May 2 we will start selling it,” the Kurdish prime minister was quoted as saying in the interview reported on April 28.

Turkish Energy Minister Taner Yıldız on April 29, one day after Barzani’s interview, confirmed the announcement, saying the Kurdish government may start selling oil in May.

“This oil belongs to Iraq; they may begin its export in May,” he said, answering reporters’ questions in Norway, where he went to meet with several representatives of the energy sector.

Read more: hxxp://gkpinvestor.proboards.com/thread/4891/kurdish-export-world-starts-arbil#ixzz30Gvw9ogA

Also strong on the US / OTC

http://www.gulfkeystone.com/media-centre/video-library

Taken from yesterdays 2013 Annual Accounts - Reserves and resources upside

With the potential to add significant further upside to reserves and resources we hope to obtain and evaluate results of the Shaikan-7 exploration well, currently targeting deeper Triassic and potentially Permian horizons in the Shaikan block, we plan to side-track the original Shaikan-6 appraisal well to allow better understanding of the oil water contact levels in Shaikan. Subject to the results from Shaikan-7 we will need to prepare a review of the Shaikan FDP to include Cretaceous, Triassic and potentially Permian developments. We will continue to appraise the Sheikh Adi discovery and target additional exploration prospects on the block while we make decisions regarding early production and development.

Another good rise today as it reaches 98.50p +4p

the 5 days chart looks very good on a incline rise since the 28th

TK to go?

http://news.sky.com/story/1253465/oil-firms-controversial-chief-heads-for-exit

http://uk.reuters.com/article/2014/05/01/gulf-keys-petr-ceo-idUKL3N0NN4UB20140501

Has gone over 100p now

Since late yesterday there was Talk of diretors revolt once again

Well at least the SP is responding,102p+,would be nice if we finish above £1.

if TK goes, that has to be good for the credibility of the company for he's nowt but a very greedy maverick cowboy, and it's a reasonable bet that there's someone with city credibility already lined up to replace

Spiking up, shareholders like the idea of a change at the TOP it seems, but punters are piling up on the stock at the moment

104.50p is a good omen

Tend to agree,he has been a little generous with his rewards.the fear is the reason for this campaign,is it to present a better picture to the city,or a way of removing an cobsticle for selling on the cheap?

hit 107p,so a deffinate change in sentiment.

16:35:14 102.00 110,143 UT 101.00 102.00 Buy

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http://www.telegraph.co.uk/finance/10807960/Gulf-Keystone-activists-seek-boardroom-reshuffle.html

Check out PCI......Kurdistan testing...

Intrrims due next week,Wed14th.

Off the coast of southern Cyprus, opposite Limassol, there's a sheltered area where ships are moored, waiting orders, (ie waiting for the cargo to be sold).

One of the tankers very recently loaded at Ceyhan is now there. SCF Ural. Its rather large, as the picture below shows, (274mx48m) and fully loaded (16.2m Draft), Its deadweight is 159,314 tonnes, getting on for 1,000,000BBls.http://www.marinetraffic.com/en/ais/details/ships/9231509/vessel:SCF_URAL

C&ped.
Latest.


A lot of tanker activity currently at Ceyhan.

Mare Doricum just leaving with a full cargo. Tanker Corossol now moving to same loading jetty. Tanker Cumhuriyet moored at second jetty. Tankers Rich Duke 11 and British Mallard moored in bay. All large tankers (500,000+BBl cargoes).

All the above have arrived in the Bay this weekend.
Thanks to Morfina for heads up.

http://www.marinetraffic.com/en/

DB= 145p.

http://sharedealing.nandp.co.uk/broker-views/GKP/Gulf-Keystone-Petroleum


Deutsche Bank Initiates Coverage on Gulf Keystone Petroleum Limited (GKP)
Posted by Reagan on May 13th, 2014 // No Comments
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Gulf Keystone Petroleum Limited logoEquities research analysts at Deutsche Bank started coverage on shares of Gulf Keystone Petroleum Limited (LON:GKP) in a research note issued to investors on Tuesday, AmericanBankingNews.com reports. The firm set a “buy” rating and a GBX 145 ($2.44) price target on the stock. Deutsche Bank’s price target would indicate a potential upside of 51.04% from the company’s current price.

Due to a number of mechanical failures in the course of the drilling operations, the Shaikan-7 deep exploration well has not been able to achieve its objective and will now be converted into a Jurassic producer and tied into Shaikan PF-1. Based on well logs, Shaikan-7 should become a prolific producing well and the full cost of the well should be recovered within six months from first production.

http://www.investegate.co.uk/gulf-keystone-petrol--gkp-/rns/interim-management-statement/201405140700130576H/





14 May 2014

Gulf Keystone Petroleum Ltd. (LSE: GKP)



Interim Management Statement



Gulf Keystone Petroleum Limited ("Gulf Keystone" or "the Company") is pleased to present the Company's first Interim Management Statement for the period from 1 January 2014 to today.



Overview



On 25 March 2014, Gulf Keystone's common shares were 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"). The move from AIM to the Main Market was a significant milestone in the growth and transition of Gulf Keystone from an independent oil and gas explorer to an established exploration and production company.



On 17 April 2014, Gulf Keystone closed on a US$250 million debt financing that will fully fund the Company and its development plan into 2015. Under that plan, the Company expects to achieve an increase of production from Shaikan PF-1 and PF-2 to 40,000 gross barrels of oil per day ("bopd") by year-end 2014 from the current level of 15,000-16,000 gross bopd. Currently, average Shaikan production for the year to December 2014 is expected to be equivalent to approximately 20,000-25,000 gross bopd.

Gulf Keystone commenced Shaikan crude oil exports by truck to Turkey in December 2013 and the first export sales in late January 2014. In Q1 2014, gross export deliveries by truck totalled 836,205 barrels. Gross domestic sales in Q1 2014 totalled 24,767 barrels, with sales realisations of US$42 per barrel and further 7,163 barrels of gross domestic sales in April 2014. Production revenues are expected to increase significantly in H2 2014.

In May 2014, Gulf Keystone received a US$6.46 million gross payment for the first Shaikan crude oil export sales. The Company records revenue in its accounts on a cash received basis resulting in a time lag between the physical production and shipment of crude oil and payment. The time lag can be significant with an approximate US$24 million net outstanding to the Company, after the first payment of US$6.46 million gross received in May 2014, from the commencement of oil sales in January 2014 to date. This therefore gives rise to uncertainty in the timing of revenue recognition and guidance for 2014. At this time, revenue guidance for 2014 is in the range of US$150 million to US$180 million which reflects the Company's current view on cash payment and current production levels.

Production and Infrastructure



· Shaikan PF-1 is currently producing from three wells, Shaikan-1, -3 and -4.



· Hook-up of Shaikan-8 and Shaikan-7 to PF-1 is expected later in 2014; flowlines are being ordered.



· Shaikan PF-2 has been commissioned and the start-up process has commenced with live oil flowing from Shaikan-5 to the production facility, which will also be producing from Shaikan-2 and -10.



· Flowlines are being ordered for an additional development well to be drilled and hooked-up to Shaikan PF-2.



Exploration



· Due to a number of mechanical failures in the course of the drilling operations, the Shaikan-7 deep exploration well has not been able to achieve its objective and will now be converted into a Jurassic producer and tied into Shaikan PF-1. Based on well logs, Shaikan-7 should become a prolific producing well and the full cost of the well should be recovered within six months from first production.



· A new deep exploration well to test the previously undrilled deep Triassic and potentially Permian horizons, which is a commitment under the approved Shaikan Field Development Plan, will be added to the drilling schedule.



Development and Appraisal



· Appraisal of the Sheikh Adi discovery is ongoing with Sheikh Adi-3 currently drilling ahead at 2,150 metres after having experienced some mechanical difficulties.



· Early production from the Bijell Extended Well Test Facility on the Akri-Bijeel block commenced in March 2014 expected to ramp-up to 10,000 bopd by the end of 2014.



· Field Development Plan for the Bijell and Bakrman discoveries on the Akri-Bijell block has been submitted to the Kurdistan Regional Government's Ministry of Natural Resources by MOL Hungarian Oil & Gas plc, the operator.



· Appraisal of the Bijell and Bakrman discoveries is ongoing with wells operating at Bijell-2, -4, -6 and Bakrman-2 respectively.



Finance



· Successful debt offering of US$250 million in three-year senior unsecured notes due April 2017, privately placed in accordance with Reg S/144A with institutional investors in Europe, the US and Asia.



· As of 30 April 2014, cash, cash equivalents and liquid investments of approximately US$270 million.





Corporate



· Mr Chris Garrett retired from his position as the Company's Vice President Operations after 10 years with Gulf Keystone. Mr John Stafford, previously Geology and Geophysics Manager, has been appointed Vice President Operations effective 3 May 2014.



· Gulf Keystone's Annual General Meeting will be held on 17 July 2014 in Paris, France.