niceonecyril
- 24 May 2014 05:20
- 4896 of 5505
Kurdistan starts exporting oil, threatening more Iraq instability • 12:46 PM
• The first cargo of crude oil to be exported by pipeline from Iraqi Kurdistan has left a Turkish port by ship, bound for another European destination.
• A tanker loaded with more than 1M barrels of crude oil departed last night from Ceyhan, "the first of many such sales," the Kurdistan Regional Government says.
• The move by the semi-autonomous region defies Baghdad's objections and may encourage other regional authorities to bypass the central government.
• Oil companies with a Kurdistan presence include global majors Exxon Mobil (XOM), Chevron (CVX), Marathon Oil (MRO) and Total (TOT), as well as wildcatters such as Gulf Keystone (GUKYF) and Genel Energy (GEGYF).
niceonecyril
- 28 May 2014 15:53
- 4897 of 5505
From Eddie47 on t'other thread --- This is interesting. Found it on the Sinopec Shanghai Petrochemical Co. Ltd. Message Board
Acquisition of Gulfkeystone Petroleum
by kerrykonjo • Apr 3, 2014 11:00 AM
Addax and GKP to merge with the latter sitting on an untapped super giant oil field. Addax currently ramping up production at their Taq Taq field to fund further exploration and production in their Kurdistan licences. Gulfkeystone is currently trading at 93p but as per usual we will be paying a premium, but will be acquiring the largest oil field discovered in the last 70 years onshore
Sentiment: Strong Buy
hxxp://99wallstreet.com/new/discussion/post/459296/
Not sure of the above,if true the market would be buzzing omo and little going on.
HARRYCAT
- 28 May 2014 20:36
- 4898 of 5505
Sorry to say, but unless you have actively traded this company over the last 5 years, you would be pretty much back to where you started.
Balerboy
- 28 May 2014 20:55
- 4899 of 5505
All the more reason to top up......
niceonecyril
- 29 May 2014 16:48
- 4900 of 5505
just came across this?
From ii this morning:--
Author -- NOTapaperweight
Date posted - today 00:04
As a long-term holder of GKP stock and a person who has talked to others about the company that have bought into the company's stock I try to keep myself updated. I put out a weekly email to friends and other investors of pertinent postings, but mostly of news stories that I find and are found by others on this board (thanks barney, CCC and others). This week's email came back to me. I lead my email off with a copy of Jacksalad's Sunday posting of 10:47 with a standard warning:
This first posting is very interesting. Remember that this is only one person's view and thoughts about what is happening. DYOR!
What I received back was very interesting. A reply from an email address that I never had.
I won't put down the email addresses and how it went up the chain of command and back down to me, but it has quite a bloodline.
Enjoy!
I will sum this up very easily. Number one if you know anything about the Oil Business production is not the hard part but he easiest part. The tough part is the exploration and Drilling. Especially the Drilling of the wells in Kurdistan which is some of the toughest land based drilling in the world. The logistic's alone involved in getting equipment half way around the world and on to location in a third world country alone takes great expertise and a massive amount of paper work and tracking, not to mention the Engineering and Geology. GKP out performed everybody including Major MOL, who we had to help complete their second well, doing the exploration phase in Kurdistan and many had been there a lot longer than GKP. The KRG loves GKP. We proved what everybody suspected for a long time which incited a boom in the reagion. Production is a cake walk compared to what took place over the last 7 years in Exploration. Exxon and Chevron have visited GKP's data room and have commented it's some of the best data they have seen and were very impressed. Now that is where the money is. In proven reserves. GKP has always taken the position that they would proceed, and I have stated it in our meetings, as if the company was never going to sell. We did not drill wells and wait. We always knew the company would be worth more as a producer. Thats why we are about to complete our second production facility. This commentary misses the point. It's not can we produce what we have but can we finance the next large phase of exploration. That is where the sale comes in as there will be consolidation and that all lies between Bagdad and Kurdistan.
The next few months will be very interesting. The money is in the Bank, we just need to get it out. And just in case the question comes up we also have the marketing connections. PLEASE FORWARD AS YOU WISH.
-------------------
niceonecyril
- 02 Jun 2014 08:29
- 4901 of 5505
http://www.basnews.com/en/News/Details/Baghdad-files-complaint-against-KRG-in-Supreme-Court-of-Iraq-/21984
Hemin Salih
BasNews, Erbil
The federal government of Iraq has filed a complaint to the Supreme Court of Iraq against the Kurdistan Regional Government (KRG) for selling oil independently.
Gorran member and Iraqi MP Hakm Sheikh Latif told BasNews that the federal government of Iraq filed the complaint against the KRG for what it considers illegal selling of crude to the international market.
Despite Iraq’s withholding of Kurdistan’s share of the federal budget, the KRG has not filed any legal complaint against Baghdad to the Supreme Court, Latif noted.
“Legally, this complaint should be registered by the KRG,” he adde
mitzy
- 11 Jun 2014 12:15
- 4902 of 5505
Sub 80p today.
aldwickk
- 11 Jun 2014 13:27
- 4903 of 5505
that all lies between Bagdad and Kurdistan
Not if Iraqi falls apart which it seems to be doing now
mitzy
- 12 Jun 2014 08:29
- 4904 of 5505
Off 10% this morning.
aldwickk
- 12 Jun 2014 10:14
- 4905 of 5505
Iraqi Kurdish forces say they have taken full control of the northern oil city of Kirkuk as the army flees before an Islamist offensive nearby.
"The whole of Kirkuk has fallen into the hands of peshmerga," Kurdish spokesman Jabbar Yawar told Reuters. "No Iraq army remains in Kirkuk now."
black bird
- 12 Jun 2014 11:12
- 4906 of 5505
pleased out way back as posted, pipe line must be connected before sp to rise.
another excuse & s/p to fall .
niceonecyril
- 13 Jun 2014 08:02
- 4907 of 5505
Something to calm the nerves????
http://www.investegate.co.uk/gulf-keystone-petrol--gkp-/rns/shaikan-production-update/201406130700095375J/
Todd Kozel, Gulf Keystone's Chief Executive Officer commented:
"Our operations in the Kurdistan Region of Iraq are progressing in line with our previous guidance, whilst we remain alert to the current security situation in Iraq, which has recently escalated outside the Kurdistan Region. We projected that Gulf Keystone would reach 20,000 gross bopd of production by the end of Q2 2014 and, with the combined production from PF-1 and PF-2, we are now very much on schedule. On 4 June, Shaikan cumulative production reached our record
maximum daily rate to date of 25,000 gross bopd. We look forward to exiting 2014 with 40,000 gross bopd of production.
niceonecyril
- 13 Jun 2014 08:14
- 4908 of 5505
ROLLS BUILDING
COURT 26
Before LORD JUSTICE CHRISTOPHER CLARKE
Friday 13 June 2014
At 10:30
APPLICATION
Part Heard
2010-1517 Excalibur Ventures LLC v Texas Keystone Inc (also known as "Texas Keystone Inc")
required field
- 13 Jun 2014 09:32
- 4909 of 5505
Sp should be far higher ...but with a civil war going on....
niceonecyril
- 13 Jun 2014 15:11
- 4910 of 5505
ref to earnings,taken from another bb.
---------------------------------------------------------------------------
Loglorry, $32 net back is calculated as below.
All figures with exception of domestic sale price per barrel taken from GKP's RNS mid-May.
Q1 - 836,205 barrels export
Q1 - 24,767 barrels domestic
Subsequent to Q1 - 7,163 barrels domestic.
Money received - in May $6,460,000
Money outstanding - $24,000,000
Total barrels - 868,135
Total revenue - $30,460,000
Price received per barrel $30,460,000 / 868,135 = $35.08
As this average price also includes domestic sales it does rather look as though GKP are receiving in excess of $35 per barrel for exported oil.
Domestic sales - $21.98 per barrel (see my post on the GKPIF site dated 21st April in the Articles / mnr.krg.org... thread).
Domestic barrels - 31,930.
31,930 x 21.98 = $701,821.
Export sales - 836,205.
Export revenue - $30,460,000 - $701,821 = $29,758,179
Export price per barrel - $29,758,179 / 836,205 = $35.58.
Estimated Money Received per Barrel
$21.98 - domestic.
$35.58 - export.
Export price is subject to a 10% Royalty Payment taking the $35.58 down to $32.02.
cynic
- 13 Jun 2014 15:15
- 4911 of 5505
Money outstanding - $24,000,000
is that like undeclared bad debt?
niceonecyril
- 16 Jun 2014 07:33
- 4912 of 5505
cynic
- 16 Jun 2014 07:46
- 4913 of 5505
FD leaves with apparently very short notice
that won't cheer anyone
niceonecyril
- 16 Jun 2014 08:28
- 4914 of 5505
niceonecyril
- 16 Jun 2014 08:34
- 4915 of 5505