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.

From iii Fordian:

Great news from MOL reported in MEES Magazine on Friday:
hxxps://www.mees.com/

Key points:

-MOL Group's E&P Executive Vice President Alexander Dodds has stated that MOL are discussing buying ALL Shaikan and AB oil directly for their own downstream operations. He is in Erbil this week to discuss the arrangement. "Ideally the arrangement would be for whatever can be produced and exported from both Shaikan and Akri Bijeel".

- They are looking to increase their holdings and "actively pursuing other investments in Iraqi Kurdistan".

- "very good relationship" with GKP and looking to maximise efficiencies between their two blocks.

- Dodds implies the delays in pipeline plans are due to uncertainty over recovery factors in AB which are currently being tested in a number of wells across their two fields. They are still actively discussing this with the MNR and the 1st phase of development, to be completed in Q1 2015, should provide the answers (to the reserves and resources questions) so they can make a decision.

My take on the tone of his comments are that MOL and GKP are in the process of having a very neat take and pay agreement set up, that would obviously be very good for MOL but also guarantee payment for GKP. With restrained CAPEX requirements for GKP I can imagine some form of farm down or disposal of their AB share directly to MOL but we'll see.

Gulf Keystone wins $51m in suit

Ian Britton/TradeWinds
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Eoin O'Cinneide 23 October 2014 11:09 GMT
Gulf Keystone Petroleum has had more joy in its settled dispute with Excalibur Ventures over acreage in Kurdistan after a UK judge ordered backers of the latter’s failed legal case to pay the explorer almost $51 million.

The draft law of oil and gas on the table heads of bloc

23/10/2014

The draft law of oil and gas on the table heads of blocsThe Commission on oil and energy in the House of Representatives, said that negotiations are currently underway between the leaders of the blocs to reach agreement on a final version of the draft law of oil and gas, oil and an end to the dispute between the federal government and the Kurdistan Regional Government.

He told committee member Hussein by Radio Free Iraq that “the Commission is considering the possibility of drafting a new oil and gas law satisfies all parties.”

The last part of stressed member of the Kurdistan Alliance, Mahmoud Othman on the need to speed up the adoption of a new law for oil and gas to resolve all differences between the government and the provincial government Alathadbh.

To see that the legal expert Tariq Harb said that “the draft law of oil and gas as the previous need some simple modifications,” explaining that “the adoption of this law will establish the Council of federal oil, which would end the differences between the parties relating to oil all”

The deputies stressed that differences of oil between Arbil and Baghdad will end according to Articles 111 and 112 of the Iraqi Constitution, as stipulate that oil and gas belongs to all Iraqis, and that the federal government in coordination with the oil-producing provinces are drawn oil policy strategy to achieve the greatest benefit for the Iraqi people.

iraqhurr.org

http://iraqidinarchat.net/?p=31089

Next month Kurdish oil exports are expected to increase significantly, according to a member of the Iraqi Kurdistan Parliament.

Kurdish MP Dilshad Shaban told BasNews that export of Kurdish oil to Turkey continues and will increase considerably in the near future. It is seen as a quick way to ease the current economic pressures facing the Kurdistan Regional Government.

“The extra revenue from oil sales into the Kurdistan Region will be used to pay government employees’ salaries in the future,” Shaban said.

He also rejected reports claiming that Turkey has confiscated some Kurdish oil revenue, saying that the money is currently being held in the Turkish HalkBank and will be released to the Kurdistan Region shortly.

“Currently the region exports about 240-250,000 barrels per day and in the next two months, that will increase to 400,000 barrels per day. With the increased revenue the government can manage local needs, especially the salaries owed to Kurdish government employees,” added Shaban.

The central Iraqi government stopped sending Kurdish employees’ salaries nine months ago and the Kurdistan Region has faced the harsh realities of life without the federal budget since then.

In the past a few years, Erbil and Baghdad have been at loggerheads over the issue of Kurdish oil exports, with the KRG saying it’s their right and Baghdad accusing them of violating the Iraqi constitution.

Since May 2014, the KRG has officially exported its oil through independent oil pipelines to Turkey and so far 25 Kurdish oil tankers have been exported to the international market from the port of Cihan, a total of 11 million barrels.

Up 22% what is going on.

news

http://www.investegate.co.uk/gulf-keystone-petrol--gkp-/rns/rescheduling-of-interim-management-statement/201410291240435992V/

Took a punt sub nid 40's,ahappy chappy.

hxxp://www.iraq-businessnews.com/2014/10/28/chinas-first-diplomat-posted-to-kurdistan/

China’s First Diplomat Posted to Kurdistan

Posted on 28 October 2014 . Tags: China, consulates, KRG, Kurdistan



China’s First Diplomat Posted to Kurdistan
Chinese Consul General Tan Banglin this week visited the KRG Department of Foreign Relations to present his credentials as his country’s first diplomat posted to Kurdistan, and to discuss areas of cooperation between both sides.

Minister Falah Mustafa warmly welcomed Consul General Banglin and congratulated him on his new post, assuring him of the KRG’s full support for the new Chinese Consulate.

The Minister briefed the Consul General on the latest security and humanitarian developments in the Kurdistan Region and assured him that the KRG is capable of ensuring safety and security in the Region.

Consul General Banglin explained that he is very pleased to have the opportunity to work in the Kurdistan Region, expressing his country’s solidarity with and support for the Kurdistan Region in fighting against the terrorists.

Both sides discussed bilateral relations and areas of potential cooperation, expressing commitment to establish strong cultural, political, and economic ties.

They also discussed the formation of the new Iraqi government and the political process in Iraq. They agreed that the success of the new government would require genuine power sharing and adherence to the Iraqi Constitution.

Minister Mustafa pointed out that the Kurdistan Region attaches great importance to relations with members of the international community, including China, as a major global power.

He noted that China and the KRG should forge a long-term relationship based upon a foundation of mutually beneficial economic interests.

With the intrrim put back until the 13th Novm could this have a bearing?
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Genel Energy plc
Notice of IMS and Capital Markets Day

Genel Energy plc ('Genel') will issue its Interim Management Statement for the third quarter of 2014 on 13 November 2014.

Oct 29 (Reuters) - British oil producer Gulf Keystone Petroleum Ltd said it had delayed the release of its interim management statement to Nov. 13 as it was in talks with the Kurdistan Regional Government in Iraq.

Gulf Keystone returned its staff to the violence-hit Iraqi Kurdistan region earlier this month after evacuating them in August.

The company had said production at its flagship Shaikan field was only affected by security threats for a day in August.

Gulf Keystone also said it was postponing the release of its statement to co-ordinate with the reporting schedules of other producers in the area.

The company was scheduled to report on the status of its operations on Oct. 30.

London-listed peer Genel Energy Plc, which operates the Taq Taq and Tawke fields in Iraqi Kurdistan, is scheduled to report on Nov. 13 while Afren Plc will report on its operations on Oct. 30.

The Kurdistan Regional Government is seeking to expand its oil pumping capacity, despite opposition from the Baghdad government to its exports, even as it fights Islamic State militants. (Reporting by Abhiram Nandakumar in Bangalore; Editing by Sriraj Kalluvila)


Read more: http://www.dailymail.co.uk/wires/reuters/article-2812611/UKs-Gulf-Keystone-Petroleum-postpones-interim-statement.html#ixzz3HXiIe0QH

From today's AFR RNS.


Kurdistan region of Iraq
On 2 October 2014, Afren announced that it had begun to resume field operations on the Barda Rash field, following the precautionary step taken to temporarily suspend operations in August 2014 due to the regional security issues. Following the re-entry into the region, BR-4 production was not resumed due to the high water cut associated with water flow behind pipe from an upper zone. At BR-5, Afren is in the process of working through the stuck 5" liner so that drill stem test operations can continue. Afren is discussing its forward work programme with the Ministry of Natural Resources (MNR). As part of the forward work programme it is considering its options for the development of an early production facility (EPF) interim gas solution.

http://www.investegate.co.uk/gulf-keystone-petrol--gkp-/rns/approval-of-akri-bijeel-fdp/201410300715026629V/

------
30 October 2014
Gulf Keystone Petroleum Ltd. (LSE: GKP)
("Gulf Keystone" or "the Company")

Approval of Akri-Bijeel Field Development Plan
Gulf Keystone, an independent oil and gas exploration and production company with operations in the Kurdistan Region of Iraq, notes today's announcement by MOL Plc., operator of the Akri-Bijeel Block in which Gulf Keystone holds 20 per cent working interest, as follows:

"MOL Plc. hereby informs the capital market participants that the Field Development Plan (FDP) for the Akri-Bijeel Block in Kurdistan has been officially approved by the Minister for Natural Resources. Key terms of the related Lifting Agreement and Pipeline Construction Agreement are under discussion with the Ministry of Natural Resources.

MOL Kalegran Ltd. (a 100% subsidiary of MOL) has been operating in Kurdistan since 2007 and is the Operator of the Akri-Bijeel Block. The Operator announced two commercial discoveries in the Block. The FDP is based on these two discovery areas, i.e. Bijell area and the Bakrman area. The development will be done in two phases, phase one objective is to allow the Operator to better determine key factors such as the reserves base, recovery factor, optimum surface facility design and overall field development cost. Phase I will start immediately with 4 drilling rigs and 1 work over rig to help reduce the overall timeline with front-end-loading wherever possible for Phase II."

John Gerstenlauer, Chief Executive Officer of Gulf Keystone, commented:

"The approval of the Field Development Plan for the Akri-Bijeel Block is a culmination of years of exploration and appraisal, which will now lead to a development phase and production in due course. It is an important milestone for all stakeholders in the Akri-Bijeel project."
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Up 7% , almost 3/4 million traded already.

Gulf Keystone Petroleum (GKP) Trades
71.00
+7.25 (+11.37%)
live: 8:03AM GMT
Buy Volume 1,006,076 Trade Low 65.50
Sell Volume 300,793 Trade High 72.00
? Volume 58,428 VWAP 68.69
Total Volume 1,365,297 Prev day Vol 15,936,112
Status: Connected
(Pause Streaming)

Gulf Keystone Petroleum (GKP) Trades
72.00
+8.25 (+12.94%)
live: 8:11AM GMT
Buy Volume 1,576,077 Trade Low 65.50
Sell Volume 530,743 Trade High 73.59
? Volume 61,167 VWAP 69.89
Total Volume 2,167,987 Prev day Vol 15,936,112
Status: Connected
(Pause Streaming)
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Investors clammering to get back in,i expect some profit takung with 40% rise
since yesterday.

8mikkion in the 1st hour,the expected outbreak has arrived.
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Keystone Petroleum (GKP) Trades
72.00
+8.25 (+12.94%)
live: 9:00AM GMT
Buy Volume 4,083,438 Trade Low 65.50
Sell Volume 3,536,748 Trade High 73.65
? Volume 382,966 VWAP 70.42
Total Volume 8,003,152 Prev day Vol 15,936,112
Status: Connected
(Pause Streaming)
Time Price Qty Type Bid Offer B/S Total Buy Total Sell
09:00:52 72.56 18,495 O 71.75 72.25 Buy 4,105,801 3,536,748
09:00

ERBIL, Kurdistan Region - The Kurdistan Regional Government appears close to finding a regular buyer for its oil after approving on Thursday the development of a major oil field by Hungary’s MOL Group.

MOL was the only one of dozens of foreign operators with equity stakes in Iraqi Kurdistan to make public its purchase of Kurdish crude after a cargo of 600,000 barrels was delivered to MOL’s refinery in Croatia in late August.

And from the same report.


“For MOL upstream as a whole, we are looking to increase the size of our upstream portfolio,” he said. “Kurdistan is important to us and if the opportunity to add to our portfolio comes at the right price, we will do it.”

Could it be referring to GKP's 20%share of AB,whuch was put up for sale many moons ago??

http://rudaw.net/english/kurdistan/301020142

"BUDAPEST/LONDON,— The Kurdistan Regional Government in Iraq has approved a major new oil field development majority-owned by Hungary's MOL, the company said on Thursday.

The minister of natural resources has given the green light for the field development plan of the Akri-Bijeel Block adjacent to the region's largest oil field, Shaikan, a year after MOL found enough oil to make the project commercially viable."

http://finance.yahoo.com/news/tide-turning-against-isis-iraq-101500076.html
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Uf the above is true along with the latter thread, then a sharp turn around could be on the cards?

http://finance.yahoo.com/news/tide-turning-against-isis-iraq-101500076.html

http://rudaw.net/english/kurdistan/05112014

http://iraqidinarchat.net/?p=31089

http://iraqidinarchat.net/?p=31311

Massive recovery way overdue here......12 billion barrels of oil !......ridiculous sp....