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 the Presentation says GPK oil will be injected into the pipeline at Fyshkhabour.

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oil price had a m sive rise at the end of the day
Brent at $62.83 and WTI above $55.91 a barrel,

Goldman Sachs names oil takeover tips -- By Lee Wild | Wed, 15th April 2015

Goldman Sachs names oil takeover tips We've discussed the predicted round of oil & gas industry consolidation before. Following Shell's (RDSB) recommended bid for BG Group (BG.), few sector commentators have talked of little else. The same names tend to pop up pretty regularly. Now, Goldman Sachs and Jefferies add their tips into the mix.
"We expect well-funded majors and NOCs [national oil companies] to scrap high-cost, high-complexity projects and focus on gaining exposure to low-cost projects via M&A," says Goldman.

"We upgrade Tullow Oil (TLW) [target price 411p] and Africa Oil to Buy from Neutral, believing that both offer exposure to strategic assets which sit low on the cost curve. Other Buy-rated stocks screening as potentially attractive M&A targets are Genel (GENL) and Dragon Oil (DGO)."

It would make sense for the majors and state-run oil companies to scrap marginal developments, which need at least $80 a barrel oil to breakeven, and buy up projects lower on the cost curve currently owned by smaller explorers, it says. "We see projects with between five and 10mn bls/d of potential peak production, currently in the hands of the E&Ps, which could be transferred," says Goldman.

Potential buyers and potential targets are neatly summed up in the graphic below.

However, the team at Jefferies have slightly different ideas.

They reckon that rather than an anticipated "M&A frenzy," it is value and strategic rationale, rather than oil price outlook, which will be the true driver of deals.

The broker says Oil & Gas sector corporate transactions since October 2008 show a "steady spread of deals rather than a 'frenzy' at various times".

"The E&P weighted average of ~$16/boe [barrels of oil equivalent] for 2P reserves (15 deals) reduces to ~$13/boe including the two (yet to complete) IOC [international oil companies] deals. Crucially though, the targets fell to significant discounts ahead of bids, allowing sufficient premiums (49% on average) to get the deals over the line."

This causes Jefferies to look for stocks trading at a sufficient discount to $16/boe to allow a satisfactory bid premium, and with a clear de-risked asset (2P reserve) base or strategic rationale.

"We would argue that the most discussed M&A candidate of current and past years - Tullow Oil - does not come close to passing this screen and in our view the current renewed M&A hype surrounding the name is unfounded," says the broker. "Trading at $22/boe of 2P reserves and with mainly East African 2C resources unlikely to convert to reserves anytime soon (and expensive in contrast to partner Africa Oil) the value argument does not stand up and we remain sellers of this stock."

So, who is cheap?

"At the 'cheap' right-hand side of the charts Kurdistan and LNG resources dominate. We would point to $4.5/b for Kurdistan 2P reserves & $2/boe for 2C LNG resources as precedent deal metrics," writes Jefferies.

It likes Genel, but points out that all the Kurdistan names - including Gulf Keystone Petroleum (GKP) and Norway's DNO - operate under a high government take fiscal regime, which contributes to historic deal metrics at sub $5/boe of 2P reserves. "Value can be found in these names but it is relative, i.e. not comparable to the $16/boe metric in other areas."

Elsewhere, Ophir Energy (OPHR) shows as the cheapest stock on a 2P+2C basis at US$1.1/boe, although, similar to Kurdistan, "value is relative for LNG contingent resource also".

moving north spread of 39.25 v 40p
the trend of the last 3 days is very bullish

as the order book gets stronger on the bid side
There are about 20 trades at offer over 60p, so should not be counted on my opinion, but yet on toal is now a DEPTH of 64 v 55

After a few 100K buys finally the "AT"s move the prices higher breaking 40p again

has broken 40p and managing to hold above that for a while now, so positive in this point

Once again the trend of the last 3 days is looking very bullish
and now the DEPTH on the order book is very strong on the bid side 79 v 73
spread 39.75 v 40p

I still say there's a Fat Controller in charge of certain shares , making decisions.

What's going on here mentor , being controlled do you think.

yet another stock to avoid with little going for it

however, there are certainly plenty like me who allowed themselves to get suckered into this gem with all sorts of promises of reservoirs of epic proportions
as we all know, this has all turned out to be pretty hallucinatory, made yet more grim by the ongoing and worsening conflict in the region

Well I think ( only think ) if this KRG and this Iraq lot get paying what they owe GKP there is a good investment here . Even if they don't get taken out .

i would like to think you're right, but iraq is getting ever more bloody and dangerous

Latest apparently Abadi has said KRG will get arms to fight ISIL and fair share of budget . Lets bleedin hope so . Finished above 40 .

Over 320,000 @ 39p on the offer got taken out very smartly just before the close and a very substantial interest in the UT...strong demand....
Possible news tomorrow????

Ruthbaby

yes the fat controller is about every time that the share is above 40p for too long, that is the case now with spread 40.25 v 40.75p

so I gave the shares away to someone else as I was breaking even,
I put the money on some GUSC that there is good news since yesterday and are moving forwad.

28 April 2015

Gulf Keystone Petroleum Ltd. (LSE: GKP)
("Gulf Keystone" or "the Company")

2014 Annual Report and Accounts
Gulf Keystone is pleased to present the Company's Annual Report and Accounts for the year ended 31 December 2014.

The Annual Report and Accounts have been posted to shareholders and are available on the Company's website at www.gulfkeystone.com.


Enquiries:


Gulf Keystone Petroleum:
+44 (0) 20 7514 1400
Anastasia Vvedenskaya, Head of Investor Relations



Media Relations and Financial PR Adviser:
+44(0) 20 7520 9266
Mark Antelme


or visit: www.gulfkeystone.com


Notes to Editors:

· Gulf Keystone Petroleum Ltd. (LSE: GKP) is an independent oil and gas exploration and production company with operations in the Kurdistan Region of Iraq.
· Gulf Keystone Petroleum International (GKPI) holds Production Sharing Contracts for four exploration blocks in Kurdistan, the Shaikan, Sheikh Adi, Ber Bahr and Akri-Bijeel blocks.
· GKPI is the operator of the Shaikan block, which is a major commercial oilfield with the current installed production capacity of 40,000 barrels of oil per day, with a working interest of 75% and is partnered with MOL Kalegran Limited (a 100% subsidiary of MOL Hungarian Oil and Gas plc.) and Texas Keystone Inc., which have working interests of 20% and 5% respectively.
· Gulf Keystone plans to move into the large-scale phased development of the Shaikan field targeting 100,000 bopd of production capacity during Phase 1 of the Shaikan Field Development Plan.


Disclaimer

http://www.gulfkeystone.com/investor-centre/gkp-tv-video-player

Gulf Keystone Petroleum - Shaikan Production Update

click here

Snippet, FT O&G May 24th

'John Gerstenlauer, chief executive of Gulf Keystone, said the group, which was owed more than $330m by the Kurdistan authorities for its share of oil sales, said it was burning through cash at the rate of $8m to $10m a month.
“For us, it’s a matter of keeping our heads above water until the Kurdistan situation improves. We’re trying to live within our means and generate enough income to cover that,” he said. The company had slashed capital and operating expenditure.

hTtp://www.ft.com/cms/s/0/051012ea-ffd0-11e4-abd5-00144feabdc0.html#axzz3b4BbLFxs

A controversial London-listed oil company is lining up the appointment of a new chief executive less than a year after appointing its current boss.

Sky News has learnt that Gulf Keystone Petroleum is close to announcing that Jon Ferrier, a senior executive at Danish-based Maersk Oil, will replace John Gerstenlauer at the helm.

Gulf Keystone hopes that the appointment of Mr Ferrier, which could come as soon as this month, will be viewed by investors as an important milestone after years of turbulence sparked by investors’ fury over boardroom pay and corporate governance.

Mr Ferrier, a British national, has worked at some of the oil industry’s largest companies, including ConocoPhillips.

He will succeed Mr Gerstenlauer, who is expected to retire after stepping down from the board, having only moved from the chief operating officer’s role to the top executive post in July last year.

A person close to the Kurdistan-focused oil explorer cautioned on Sunday that formal agreement had not yet been reached between Mr Ferrier and the company’s board, but said they were optimistic that the appointment would happen.

After the late mark up on Friday I expect a good attempt at the 40p range again....