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.

42p the 12 month low, so seems to me that is possible......again.

Still dropping,but why?Illiquid yes,but with 40kbopd shortly(imminent?)a chance for a quick buck for the brave.Question which is bugging pi's is why no director trades at these levels,witch begs the question are they close to price sensitive news??
Next weeks trading will be interesting to say the least,will the shorters buy back,or are they in the know?Only time will tell.

By Harvey Jones - Friday, 12 December, 2014
GKPGFKSY

Pity the poor investor in Gulf Keystone Petroleum (LON: GKP) (NASDAQOTH: GFKSY.US), they’ve had a rough year. They embarked on 2014 with high hopes, with the oil explorer’s Shaikan operation in Kurdistan ready to start gushing.

And although there has been good news on that front, the share price is down 70% this year as nervous investors flee political and economic uncertainty, and the oil sector meltdown.

Gulf Keystone Petroleum is down 20% in the last week alone. Does that make it a buy?

That Petrol Emotion
Actually, I don’t really investors pity in Gulf Keystone Petroleum. They knew what they were getting into, and accepted the risks, just as they will accept potential rewards.

This year, gambling on Gulf backfired. Next year it could be different.

2014 could easily have ended on a higher note. After years of exploration, the Kurdish government approved plans for the Akri-Bijeel block at the end of October, which Gulf partly owns. The block holds reserves of around 43 million barrels.

Gulf also announced that its Shaikan operation is on track to produce 40,000 barrels of oil per day (bopd) by the end of this year, up from 23,000.

And at the start of December, it received an initial payment of $50 million from the Kurdistan regional government for shipments rooted through Turkey, with further payments to follow.

State of Independence
The flurry of good news took Gulf’s share price to 69p on 2 December. Just over a week later it is languishing at 51p, down 26%. Oil exploration is a risky exercise when the world is suddenly swimming in a glut of over-supply.

Markets welcomed the news that Gulf hopes to lift its Shaikan output to 60,000 or 70,000 bopd over the next two years, assuming Kurdish government payments keep flowing.

In one respect, the rise of Islamic State may have done the Gulf a favour, despite the added instability. The Iraqi central government in Baghdad daren’t get too heavy over Kurdish oil exports, because it needs its support against the jihadists.

Especially since the West appears to have committed itself to making Kurdistan a buffer against the malignant spread of IS.

Troubled Waters
If you think the oil price is reaching the bottom, now could be an exciting time to make a high-stakes gamble on Gulf. If you think oil is heading to $40 a barrel, then it’s fast-growing Kurdish production won’t be worth as much as it was.

Gulf may be a lot cheaper than it was one week ago, but it is just as dangerous.

If the Gulf share price recovers, brave investors could end up dripping in black gold. Potential multi-baggers like this are a great way to turbo-charge your investment portfolio.

But there are less risky investments that can help you join the growing number of surprise UK millionaires who earned their wealth on the stock market.

Find out what they are by reading this new Motley Fool wealth report 7 Simple Steps For Seeking Serious Wealth.

interesting day tomorrow with Chevrons CEO opening the conference,many perhaps making 2+2=5?

Sub 50p does not say much for tomorrow?

Kurdistan Operational Update
Gulf Keystone Petroleum Limited, an exploration and production company with operations in the Kurdistan Region of Iraq, today provides an update on the Company's operations at Shaikan, its key producing asset.

The Company is pleased to announce the completion of the installation of the flowlines to connect the Shaikan-7, -8, and -10 wells to the existing production facilities ("PF-1" and "PF-2"). The Shaikan-7 and -8 wells are now tied to PF-1 and Shaikan-10 to PF-2. The flowlines are currently being hydro-tested and first oil is expected to flow to the production facilities in December.

With the addition of the three new producers, the current total production levels of between 23,000 and 25,000 gross bopd will increase to 40,000 gross bopd.

An amine plant is currently being tested at PF-2, to be followed by the similar plant at PF-1 in early 2015. The amine plants will sweeten the associated gas stream, allowing it to be used as fuel for the production facilities instead of diesel, representing savings of up to US$400,000 per month to the project.

A rig package is moving to a location in the vicinity of Shaikan-10 in order to drill Shaikan-11, an additional producer. An 11 km flowline to tie this well to PF-2 has already been laid.

Shaikan crude oil exports by truck to the Turkish coast continue uninterrupted.

John Gerstenlauer, Gulf Keystone's Chief Executive Officer commented:

"Despite numerous challenges earlier this year, Gulf Keystone has completed the work on the three additional producers on time. We are now testing the flowline connections, including an 11 km link between Shaikan-10 and PF-2, and look forward to boosting Shaikan production to our near-term target of 40,000 bopd. I would like to thank our entire team in the Kurdistan Region, which today includes over 300 employees and contractors, for their effort and diligent delivery in the area of construction, production and crude oil export sales."

What i thought ,a delay from xmas to early 2015.Some were clearly in the know, explaining the resent run on the SP?

http://www.cwckiog.com/conference-day-one/

JG at 3-00pm.

http://sharecast.com/news/cantor-reiterates-buy-on-gulf-keystone/22320445.html?.

Cantor Fitzgerald reiterates 'buy' on Gulf Keystone after Shaikan progress
Tue, 16 December 2014

Cantor Fitzgerald has repeated its 'buy' rating on oil group Gulf Keystone Petroleum (GKP) after the company moved closer to upping output at its key producing asset, Shaikan, in the Kurdistan Region of Iraq.
The company said on Tuesday that it had installed links between the Shaikan-7, -8 and -10 wells and its existing production facilities PF -1 and PF-2, enabling first oil to flow to the facilities this month.

With the addition of the three new producing wells, total production of between 23,000 and 25,000 gross barrels of oil a day will rise to 40,000 a day.

Cantor analyst Sam Wahab explained Shaikan production is currently being trucked to a Turkish port and sold to the international market by a transportation and marketing agent of the Kurdistan Regional Government.

An initial sum of $15m was paid to the company in receipt of Shaikan export oil sales in November.

However, Wahab said that receiving regular payments for these exports "remains the focus for the market".

"With a further payment expected before the new year, if achieved, will go some way to establishing a pattern of regularity and to alleviate this particular investor concern in our view," he said.

The broker kept a 154p target price for the stock, which had jumped nearly 12% to 55.55p on Tuesday morning.

"We reiterate our view that GKP is well-funded ahead of an active appraisal campaign across its portfolio and reiterate our 'buy' recommendation," Wahab said.

16:35:26 57.75 152,694 UT 57.50 57.75 Buy 3,407,125 2,486,746
16:29:55 57.38 14,648

Tue 22:55
Wall Street Journal
manu19 17
IMO significant report as reported in Wall Street Journal

Gulf Keystone on Track to Up Shaikan Daily Output in Kurdistan by More Than 60%
Article
By Alex MacDonald

LONDON--U.K.-listed oil firm Gulf Keystone Petroleum Ltd. (GFKSY) said Tuesday that it is on track to boost daily oil output from the Shaikan field in Kurdistan by more than 60% through three additional oil wells.

The company has installed flowlines to connect three new wells--Shaikan 7, 8, and 10--to existing production facilities. It expects to start pumping oil through the flowlines this month, the company said.

This will increase the field's total output to a near-term target of 40,000 gross barrels of oil per day from 23,000 to 25,000 barrels a day currently, it added.

"Despite numerous challenges earlier this year, Gulf Keystone has completed the work on the three additional producers on time," said John Gerstenlauer, Gulf Keystone's chief executive officer.

"We are now testing the flowline connections, including an 11 km link between Shaikan-10 and PF-2, and look forward to boosting Shaikan production to our near-term target of 40,000 bopd."

Write to Alex MacDonald at alex.macdonald@wsj.com

Just the type of news we need.
---------Tuesday, December 16, 2014

Baghdad will send a second batch of the amount of one billion dollars to Arbil

December 16, 2014

Baghdad will send a second batch of the amount of one billion dollars to Arbil

Baghdad - MP said the Kurdistan Alliance bloc, Masood Haider Rustam, on Tuesday, that the central government will send a second installment of the amount agreed upon under the terms of the agreement between Baghdad and Erbil before next year solutions.

According Rustam, network Roudao media, today, it is " scheduled to send Baghdad $ 500 million to Arbil before next year solutions, totality of the agreed amount between the parties, in exchange for the export of 150 000 barrels of Kurdistan oil per day, provided that the revenue returned to Baghdad. "

He said Rustam, "The Iraqi government has confirmed this agreement is final for this year, and the reason for the delay is the latest installment of routine financial measures ", stressing the need to serve before the end of this year.------------------------------------------------------------------

Some quotes from the conference.
------------------------------------------------------------------------------------
Botan Mahmoud Osman retweeted
Stirling Group ‏@Stirling_Group 14m14 minutes ago

"Future of Kurdistan's economy & energy industry looks increasingly brighter, esp. considering recent agreements." Ian McDonald, Chevron VP
0 replies 1 retweet 0 favorites
Botan Mahmoud Osman retweeted
Stirling Group ‏@Stirling_Group 2h2 hours ago

"We urge international community to assess situation in Kurdistan, & acknowledge KRGs role." HE Dr Ashti Hawrami @CWCMENA #Kurdistan #Iraq
-------------------------------------------------------------------------
Wladimir ‏@vvanwilgenburg 27s28 seconds ago

Dr Ashti Hawrami says Baghdad would loose court battle against Kurds, better to stop it, than loose #CWCKIOG #twitterkurds

-------------------------------------------------------------------------------

Wladimir retweeted
David Sheppard ‏@ReutersSheppard 6m6 minutes ago

#Iraqi Kurdistan #oil minister Ashti Hawrami touring the #Exxon stand. Unthinkable just a few years ago.

Wladimir retweeted
Alan Mohtadi ‏@tawaksham 2m2 minutes ago

#KRG min for natural resources: says exports to Ceyhan could reach 800,000b/d in 2015, inc 300,000b/d from stranded fields near Kirkuk

http://www.gulfkeystone.com/investor-centre/gkp-tv-video-player
htTp://www.marketwatch.com/story/new-york-moves-to-ban-fracking-2014-12-17-131031254?link=MW_home_latest_news---------------------------------------------------------------------

Gulf Keystone tests for pipeline exports

By Patrick Osgood of Iraq Oil Report
Published Thursday, December 18th, 2014

The Kurdistan region’s fourth-largest oil producer is evaluating whether to add its production to the pipeline export blend, instead of trucking it 1,000 kilometers to Turkey's Dortyol port."We’ve sent five trucks so far for testing purposes," said Gulf Keystone Petroleum CEO John Gerstenlauer on the sidelines of the CWC Kurdistan-Iraq conference in London. "We may be doing it but it’s not definite yet.”The move by Gulf Keystone would save around $20 a barrel on transportation co...

Http://www.iraqoilreport.com/beyond-the-headlines/gulf-keystone-tests-pipeline-exports-13790/

Http://www.iraqoilreport.com/beyond-the-headlines/gulf-keystone-tests-pipeline-exports-13790/

From the above.
------------------------------------------------------------

Meanwhile, Genel Energy is interested in acquisition opportunities in Kurdish Iraq as differences with Baghdad are resolved.

“We expect to see a lot of consolidation both in Kurdistan and globally,” the Genel president Mehmet Sepil said at the same conference. “Most of the big companies were created through mergers at the time of political or economic crisis.”

Plenty of news reports this am,undoubtably to do with the conference.

http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/11300152/Kurdistan-eyes-oil-export-jump-in-the-shadow-of-Opec-price-war.html

Looks like the shorters are back in business,SOL increasing.

Message from KRG Prime Minister to the Kurdistan - Iraq Oil & Gas Conference
THU, 18 DEC 2014 15:17 | KRG.org

Dear Participants

Unfortunately, I cannot be with you today here, but I hope and expect that the 2014 annual Kurdistan-Iraq Oil and Gas Conference will be a success.

Thanks to the CWC group for organizing this conference, and next year, we look forward to seeing you all again in Erbil.

As you all know, we are at the end of difficult year for the Kurdistan Region, for Iraq, and for the Middle East.

First, I want to pay tribute to our brave Peshmerga who today are defending the people of Kurdistan and beyond with great skill and courage.

We also pay our respects to those Peshmerga who have lost their lives in the defence of our country and as part of the international fight against extremism and terrorism.

We will always remember them and we pray also for those who have been injured in this war and wish them a speedy recovery.

We hope that Iraq will soon overcome these problems.

Dear guests, as you are all aware, the KRG and people of Kurdistan have faced two further major challenges this year in addition to the fight against the terrorists of the Islamic State (IS).

First: The wave of 1.5 million Syrian refugees and internally displaced people into the Kurdistan Region

Second: The complicated relationship with the previous government in Baghdad, which deprived us of our entire budget for 2014.

Just one of these problems alone would be enough to destabilize most of the countries around the world of similar size to Kurdistan.

Yet our people remain resolute in our determination to ensure stability and security.

Now, we are at a new cross roads and I am pleased to say that the new government in Baghdad under Prime Minister Abadi has shown a desire to press the reset button in its relations with Kurdistan.

We hope next year will see further progress on this.

We want to see an inclusive system of rule in Iraq that shares power and revenues among all its diverse communities.

The recent oil agreement with Baghdad sends a positive signal that Prime Minister Abadi is also committed to finding practical answers to some of Iraq’s unresolved issues.

I believe he agrees with me that the people of Kurdistan and of Iraq deserve a brighter future. They deserve freedom, liberty, economic stability and a more robust democracy.

With the backing of our Peshmerga, our fellow citizens, our international friends and allies, and business partners at home and abroad, we can achieve better results and make greater dreams come true.

And we thank and value the international oil companies who have trusted us with their investment and paved the way for at least the first part of our dreams of a brighter future for our people.

Finally, I would like to acknowledge that our solid, strategic partnership with Turkey has greatly contributed to our stability and alleviated some of our difficulties. And we will continue to strengthen our relationship as well as with our eastern neighbour, Iran.

I wish you once more a stimulating, successful and profitable conference.

Thank you
Http://www.krg.org/a/d.aspx?s=040000&l=12&a=52662

https://www.youtube.com/watch?v=tVmsEL7VHOk&feature=youtu.be