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.

Sky still at it, I see.....

A Conservative MP who sat on an influential House of Commons Select Committee during the last parliament is in talks about a senior role with the London-listed oil company Gulf Keystone Petroleum.

Sky News has learnt that Nadhim Zahawi, the MP for Stratford-upon-Avon, has been approached about a leading strategy role with Gulf Keystone, which has been beset by a string of public shareholder rows in recent years.

http://www.news.sky.com/story/1518079/tory-mp-zahawi-in-talks-over-kurdish-oil-role

They said they did not want to do an investigation into it , but I think they will have to . Someones certainly got it in for Gkp , very strange .

http://www.irishexaminer.com/business/t5-oil-and-gas-still-has-an-interest-in-gulf-keystone-342385.html

WAS DOWN EARLIER but now is well up on those press release, but no news.......

mnr.krg.org/index.php/en/press-releases/470-statement-by-ministry-of-natural-resources-regarding-the-producing-international-oil-companies-iocs-in-the-kurdistan-region

From September 2015 onwards, the Kurdistan Regional Government (KRG) will on a monthly basis allocate a portion of the revenue from its direct crude oil sales to the producing international oil companies (IOCs), and as export rises in early 2016, the KRG envisages making additional revenue available to IOCs.

At the start of 2015, the KRG reached a deal with the federal government in Baghdad to export crude oil in exchange for regular payments of the Region’s 17% revenue entitlement. The arrangement was enshrined in the 2015 federal Iraqi budget.

The KRG recognizes the spirit of cooperation in which the budget deal was struck with the federal government and it remains determined to build on such progress, and through dialogue and discussion to reach a lasting agreement with Baghdad on all outstanding issues relating to oil and gas and revenue sharing.

The KRG has also been pleased with the level of technical cooperation on the ground from federal government entities such as the North Oil Company (NOC) and SOMO. The KRG will continue to facilitate oil export from NOC-operated fields in Kirkuk via the KRG’s pipeline network to Turkey.

However, due to a number of factors, the federal government has to date been unable to provide the Kurdistan Region with its monthly budgetary dues. As a result, the KRG has been obliged to introduce direct crude oil sales from Ceyhan to help pay Kurdistan Region’s governmental salaries, maintain vital government services, and of course, pay the Peshmerga and other security forces who are fighting Islamic State terrorists.

Although the revenue gained from direct sales is still below Kurdistan’s 17% share of the federal budget, it is significantly higher than the amount the federal government was able to allocate to the KRG on a monthly basis.

In this regard, the KRG acknowledges and appreciates the economic contribution to the Kurdistan Region made by the producing IOCs and their success in raising oil export from Kurdistan to record levels. They have demonstrated their commitment to the people of Kurdistan at a time when the Region has been fighting terrorism, enduring a budget shortfall from the federal government in Baghdad, and shouldering the social, political and economic burden of an influx of 1.8 million refugees and internally displaced people.

The KRG also recognizes the patience of the producing IOCs, which, despite receiving hardly any payments for their crude oil production since May 2014, have maintained operations and have continued to invest to support Kurdistan’s crude oil export.

Crude oil export is the principal revenue earner for the Kurdistan Region. But, it is also recognized that it is difficult for the IOCs to sustain oil export at its current levels, let alone increase it as planned, without receiving their financial dues.

Therefore, from September 2015 onwards, the KRG will on a monthly basis allocate a portion of the revenue from its direct crude oil sales to the producing IOCs, to cover their ongoing expenses. Furthermore, as export rises in early 2016, the KRG envisages making additional revenue available to IOCs to enable them to begin to catch up on the past receivables due under their production sharing contracts.

Ah, that answers why GENL was also down and now up.

another little gem trying to dive into the wastebin

You're beginning to sound like mitzy, only she uses less words! ;o)

sorry to report, but i have held these for far too long :-(

Don't do an Afren like i did cynic .

A chart pointing to 15p but will it continue to fall.

Aug 28, 201510:59 AM

[BEIJING] It was only a matter of time.

China's oil majors are primed to join the latest round of global energy deals triggered by the collapse in energy prices. PetroChina Co, the nation's biggest explorer and producer, said this week it's eyeing targets and in discussions about assets swaps in North America. Its rival, China Petroleum & Chemical Corp, Asia's largest refiner, signaled it's looking at overseas acquisitions.

The country's so-called Big Three oil and gas companies spent nearly US$119 billion from 2009 through 2013, accounting for 13 per cent of global transactions in the industry, data compiled by Bloomberg show. That slowed to a trickle last year. And they haven't spent a dime in 2015, watching from the sidelines as oil collapses and the deals add up.

"There's the international race to pick up cheap assets, so the Chinese don't want to be left out," said Gordon Kwan, a Hong Kong-based analyst at Nomura Holdings Inc. "They have a reasonably strong bunch despite the oil price collapse, as well as cheap access to government loans. They are certainly going to take advantage to buy more strategic oil assets, as well as whole companies." Oil's slump to a six-year low has prompted a wave of acquisitions.

http://www.oil-price.net/index.php?lang=en


http://www.bloomberg.com/news/articles/2015-08-30/oil-trims-gain-after-biggest-2-day-rise-since-2009-as-rigs-climb

Looks like the new board are making a big difference,with payments due to start this month and a new reserve update(CPR) shortly.



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Surprised nobody posted the webcast,well worth listening.

http://webcasting.brrmedia.co.uk/broadcast/55daf1b1f67ebc1c6ff85179

good progress today.

This looks like it just might have broken its 3 year downtrend....
Worth watching now for confirmation of the up tick!!!

wishful thinking i fear .... it's been at this level and higher in the last 2/3 months

Yes many false dawns over several years,however their seems to be a difference?
CPR(a couple of weeks?) should vastly improve P2 reserves,along with revenue(promised)on a regular basis.
This is my understanding of the SP recovery,so fingers crossed.