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.

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
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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
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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....

MOL's results.


http://ir.mol.hu/sites/default/files/en/2014/Q3/2014_Q3_Flash_Report_ENG_FINAL.pdf

A snippet from the above concerning Shaiken.


~MOL confirm Shaikan gross production is “”above”” 23,000 b/d and is still expected to be up to around 40,000 by the end of 2014

I just wonder what next weeks delayed Interrims will bring??

http://rudaw.net/english/kurdistan/061120141


HUNGARY, ignoring Bagdad, just signed along term deal touy bKRG oil..

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Revenue here is the real barrier,for both the KRG and GKP. Next thursdays (delayed) Interrims is of great importence to the company(maybe it's future?).
will

Great finish to the w/end,75p.

Type Bid Offer B/S Total Buy Total Sell
16:35:29 75.00 13,153 O 74.00 75.00 Buy 2,762,985 2,005,243
16:35:21 75.00 8,837 O 74.00 75.00 Buy 2,749,832 2,005,243
16:35:19 75.00 441,886 UT 74.00 75.00 Buy 2,740,995 2,005,243
16

">

Getting Paid

Hawrami said 25 to 26 ships had sailed from Ceyhan and that the KRG had already been paid for the oil it has delivered.

"We got paid for that and indeed we got paid for another 10 ships we haven't yet loaded." As Baghdad has threatened legal action against anyone buying oil from the KRG, the Kurdish tanker sales have often involved a cat-and-mouse game with ship-to-ship transfers, covert deliveries and vessels turning off satellite tanker tracking.

A number of cargoes have gone to Israel, industry sources say and ship-tracking data indicates, while others have sailed to Asia. One 1 million barrel tanker has remained anchored off the coast of Texas for months after Baghdad asked a U.S. court to seize the vessel. The KRG has denied selling oil to Israel.

The KRG has declined to publicly identify any buyers, but Hungary's MOL Group , which has producing assets in Iraqi Kurdistan, said this summer it had taken some of the Kurdish crude for its refinery in Croatia. ...

London-listed companies such as Genel and Gulf Keystone Petroleum are some of the biggest producers in Iraqi Kurdistan. Gulf Keystone last week delayed the release of its interim management statement to Nov. 13, saying it is holding talks with the KRG. Genel is due to report on the same day. ...

(Reporting by Isabel Coles in Arbil, writing by David Sheppard in London; editing by Susan Thomas and David Evans) ((d.sheppard@thomsonreuters.com; +44)(0)(2075421890; Reuters Messaging: d.sheppard.thomsonreuters.com@reuters.net)

Keywords: IRAQ CRISIS/KURDOIL

http://uk.reuters.com/article/2014/11/07/iraqi-crisis-kurdoil-idUKL6N0SX4O20141107


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Nov 7 (Reuters) - Iraqi Kurdistan has sold 34.5 million barrels of oil with a value of almost $3 billion since January, the Kurdistan Regional Government said, despite opposition from the federal government to independent oil sales from the region.

The KRG said in a statement on Friday that the proceeds of the $2.87 billion sales were being treated as part of what it claimed as its "constitutional entitlement" of 17 percent of Iraqi government revenues, which it says have not been paid by Baghdad since January.

The KRG said it had received $2.1 billion in cash and $775 million in payments in kind via refined oil product sales. (Reporting by Sam Wilkin and David Sheppard in London; editing by Jane Baird)

'News of the payments comes ahead of trading updates from Genel Energy and Gulf Keystone next week.
Gulf Keystone calculates that it is owed a total of about $250m by the Kurdistan government for production to date, as well as additional sums relating to its investment in the region.
It recently warned that it would have to curtail its production of oil in the region unless an agreement could be reached with the KRG over quicker payment.

Following Friday’s news, John Gerstenlauer, Gulf Keystone’s chief executive, said: “With a regular payment cycle, we look forward to moving forward with our stated ramp up in production from our Shaikan field.”'

Looking forward to Monday should see a quid soon.

Should be an interesting week for sure,with the IRS delayed to correspond with GENL's, come thursday. Still feel the political issues need sorting,before we have any chance of the full value returning.

Sunday Times gossip.

http://www.scoop.it/t/aim-market-gossip



Analysts also expect Genel to unveil a landmark gas supply contract with Turkey. The explorer found a huge gas field it named Miran, but investors are reluctant to assign it a value because it was unclear how, or whether, it woud be developed. The expected deal could value Miran at as much as $2bn ( £1.3bn). Genel’s market value is £2bn.

Genel and Gulf Keystone declined to comment.