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.

True value is the price a potential buyer is prepared to pay for it - not what the owner thinks it is worth. GKP is in a tight spot financially. Potential buyers will be only too well aware of this and will hang on until there is a forced sale if necessary.


Twaintwix, The facts are as follows.
The company has found much more oil than has been announced. Start to think of JG's 18b and add to it. The CPR has been pulled apart as a work of fiction, covers only a small part of the plan submitted to the KRG and huge amounts of the discoveries were totally ignored. Added to that it is around 18 months out of date during which time there has been much more information gathered on greater recovery rates, porosity and fractures. As for being in a tight spot that is a fallacy. Contracts are in place that will comfortably cover monthly expenditure plus the bond interest to add to the almost $100m in the bank. I don't believe buyers will hang on simply because its is almost a certainty they have been prevented from making offers up until this time due to Political reasons. Would you not consider that the new Finance guy has been brought aboard to look after any bond renegotiations should it be required? We know from the company that it would take very little to move the numbers in the Cpr into Reserves. At that time RBL is available. It is also very likely that the KRG will borrow which would allow them to pay the producing companies. Thanks for the opportunity to actually spell out the facts rather than the fallacies that appear to be posted in increasing amounts.

A reminder from Malcy. From Friday
Gulf Keystone has announced this morning that due to lack of payments from the KRG, it has suspended exports in favour of recommencing crude oil sales to local refiners. This echoes what DNO said yesterday and if Tawke crude is being sold locally then it would be surprising if Taq Taq oil wasn’t being marketed in the same way putting all the oil companies in the same basket.

For GKP this actually makes a lot of sense, transporting crude 1,000 km costs around $22-23 a barrel, if sold locally the buyers just drive by and collect it from their production facilities. Expect an announcement of a significant contract soon but there are plenty of locals looking to buy the crude from the vendors and without the transport costs the company realises almost the same in revenues. What GKP has done is a stopgap solution to maintain cash flow and one which the MNR has been consulted on and is fully supportive of. I remain convinced that the situation regarding the KRG and the marketing of crude oil by the MNR is sorting itself out and that current difficulties are just that, once commitment crude has been sorted not only will payments restart but the backlog will be erased and forward oil sales satisfied. After that the ‘new era’ of the relationship between Erbil and Baghdad will lead to much better treatment of the oil companies producing in the area so good news for GKP as well as Genel and DNO.

- See more at: hxxp://www.malcysblog.com/2015/02/oil-price-gulf-keystone-and-krg-general-petroceltic-sundry-statoil-and-finally/#.dpuf

So who's right? Worth keeping a close eye on .

http://www.iraqinews.com/features/oil-minister-expects-crude-price-to-rise-again-soon/

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http://www.theage.com.au/business/markets/oil-could-fall-to-as-low-as-us20-a-barrel-says-citigroup-20150210-13a7fs.html

Still needs signing off i believe,but should just be a formality?
---------------------------------------------------------------


President of the Republic approves the federal budget law
10/2/2015 11:06:00
Print
PRESIDENT OF THE REPUBLIC APPROVES THE FEDERAL BUDGET LAW
President of the Republic Dr. Fuad Masum approved on Tuesday morning, the Federal Budget Law for 2015.
A source in the Iraqi presidency office told PUKmedia that President Masum approved today, the federal budget law for the year 2015, noting that the law will be published in the Official Gazette of Iraq (Alwaqai Aliraqiya).
For his part, Supervisor of the Finance Committee in the Council of Representatives, Ahmed Rashid in a statement to PUKmedia said that following the president's ratification of the law, the Ministry of Finance will issue instructions to implement the law.
PUKmedia

http://basnews.com/en/economy/2015/02/11/krg-presents-kurdish-oil-export-record-to-baghdad/

http://www.iraqinews.com/iraq-war/parliamentary-commission-security-defense-reveals-documents-coalition-aircrafts-aiding-isis/

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Chart pointing to 30p.

KRG Faces Investor Revolt as Payment Issue Persists
Monday, February 16, 2015
Summary
Investor sentiment in Iraq's semiautonomous Kurdistan region is taking a beating as a prolonged lack of payment to producers by the local government shows no sign of letup. Several companies, including UK-listed Afren and Gulf Keystone, US independent Hess and the United Arab Emirates' Taqa are looking to exit or reduce their Kurdistan exposure, sources tell International Oil Daily.

HTTP://www.energyintel.com/pages/login.aspx?fid=art&DocId=876987

http://www.iraqinews.com/features/masoum-ratifies-budget-law-of-01/

So what now?
-----BAGHDAD


The Kurdistan Regional Government (KRG) and Iraqi federal government have met to discuss the financial crisis in Iraq. The Baghdad government claims that it does not have cash reserves to send the budget for January and February to the KRG.


A delegation led by KRG Prime Minister Nechirvan Barzani arrived in Baghdad on Sunday and met with Iraqi Prime Minister Haidar al Abadi.


The agenda addressed the current situation in Iraq, the importance of cooperation between the Peshmerga and Iraqi army in the war against Islamic State (IS), the military support of the US-led coalition and the financial crisis in Iraq.


Delegates also discussed the oil deal between Erbil and Baghdad and misunderstandings that recently arose over some points of the agreement. Both sides reiterated their commitment to the agreement.


In a press conference following the meeting, Barzani revealed that the KRG’s oil exports will be audited quarterly.


However, Baghdad is unable to honour the Kurdistan Region’s budget for January and February, due to the ongoing financial crisis.


After a second round of meetings late on Sunday night, the KRG released a statement saying that meetings will continue. The statement repeated that Baghdad insists that is unable to deliver the KRG budget.------------------------------------------

http://www.iii.co.uk/tv/episode/will-gulf-keystone-be-taken-over

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reuters also report possible t/o, but have wished too much for this lot for far too long so shall try to put the thought to the back of my mind

Best i can make out,is the former CEO Todd is interested,or so the rumour goes?

i'm not fussed ...... around 120 would do me nicely, but fat chance

If they have been paid....they might not want to be taken over or they might just sell a percentage....

(GKP.L), a foreign oil producer in Iraqi Kurdistan, is exploring a potential sale amid lengthy talks with the Kurdistan Regional Government over delayed payments for oil exports, the company is set to disclose on Wednesday, according to Sky News.

The oil company is working with Deutsche Bank as its financial adviser as it weighs strategic alternatives, the report said, citing sources. (bit.ly/1afU3bQ)

The Sky News report, however, did not identify any potential suitors or partners for the British oil producer that earlier had said it was taking a "prudent approach" with capital expenditure in 2015 and that its board was considering a number of long-term financing options.

"A sale of Gulf Keystone is by no means certain, although it is likely to attract interest from possible buyers including rival oil explorers in the region," Sky News said.

Oil producers across the globe are trying to deal with the financial consequences of a sharp decline in oil prices since last year's peak in June.

Earlier this month, Gulf Keystone and its partner MOL PLC MOLB.BU said they had suspended all trucked exports of crude from the Shaikan oilfield in Northern Iraq.

The Kurdish Regional Government owes the region's oil companies months' worth of oil export payments. It has been catching up on such outlays since Iraq's central government reinstated budget allocations to the autonomous authority late last year.

Representatives for Gulf Keystone, which has a market value of 316.72 million pounds ($489.90 million) as of Tuesday's close, could not be reached for comment.


(Reporting By Aurindom Mukherjee in Bengaluru; Editing by Ken Wills)

http://calgaryherald.com/business/energy/chevron-goes-big-into-bonds

Apparently they are owed over $250 million by the KRG . The KRG own 20% of GKP .

ulf Keystone Petroleum (GKP) Trades
59.13
+23.63 (+66.56%)
live: 11:52AM GMT
Buy Volume 20,199,961 Trade Low 40.85
Sell Volume 15,850,196 Trade High 61.36
? Volume 2,090,698 VWAP 52
Total Volume 38,140,855 Prev day Vol 0
Status: Connected
(Pause Streaming)
Time Price Qty Type Bid Offer B/S Total Buy Total Sell
11:52:44 59.23 2,002 O 58.75 59.50 Buy 20,209,997 15,864,273
11:52:37 59.06 2,609 O 58.75 59.50 Sell