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.

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.

$15 million payment authorized for September...
http://mnr.krg.org/index.php/en/press-releases/480-mnr-authorizes-payments-to-the-exporting-international-oil-companies

80% to GKP

http://mnr.krg.org/index.php/en/press-releases/480-mnr-authorizes-payments-to-the-exporting-international-oil-companies

From MOL presentation

AKRI – BIJEEL WORK PROGRAMME
Upstream
Akri-Bijeel in appraisal/early development phase
Commercial production ongoing from EWT on B-1B

Debottlenecking in H1 2015 to reach nameplate
capacity of 10 mboepd

Testing and completion of Bijell appraisal wells to fully
understand the block value

Intensive drilling campaign to improve understanding
of reservoir complexities and full block potential…
…and ramp up of production

More focus on Triassic with better quality crude
Bakrman area with 40 API gravity crude - testing and
tie-in of Ba-2, drilling of further appraisal wells

From MOL presentation

AKRI – BIJEEL WORK PROGRAMME
Upstream
Akri-Bijeel in appraisal/early development phase
Commercial production ongoing from EWT on B-1B

Debottlenecking in H1 2015 to reach nameplate
capacity of 10 mboepd

Testing and completion of Bijell appraisal wells to fully
understand the block value

Intensive drilling campaign to improve understanding
of reservoir complexities and full block potential…
…and ramp up of production

More focus on Triassic with better quality crude
Bakrman area with 40 API gravity crude - testing and
tie-in of Ba-2, drilling of further appraisal wells

http://molgroup.info/images/molgroup/pdf/investor_relations/investor_presentations/MOL-Group_IR_Presentation_2015_August.pdf

2815Y

Gulf Keystone Petroleum Ltd.

07 September 2015

Not for release, publication or distribution, directly or indirectly, in whole or in part in or into the United States or any jurisdiction other than the United Kingdom and Bermuda where to do so would constitute a contravention of the relevant laws or regulations of such jurisdiction. This announcement (and the information contained herein) does not contain or constitute an offer to sell or the solicitation of an offer to purchase, nor shall there be any sale of securities in any jurisdiction where such offer, solicitation or sale would constitute a contravention of the relevant laws or regulations of such jurisdiction.

07 September 2015

Gulf Keystone Petroleum Ltd. (LSE: GKP)

("Gulf Keystone" or "the Company")

Payment confirmed for Shaikan crude oil exports

Gulf Keystone, an independent oil and gas exploration and production company and operator of the world class Shaikan field in the Kurdistan Region of Iraq, is pleased to announce that, further to the statement by the Kurdistan Regional Government of today regarding regular payments to the exporting international oil companies in the region, a payment of US$15 million gross (US$12 million net to Gulf Keystone) has been authorised by the KRG to be wired to the Company's account during the next seven days.

Gulf Keystone now looks forward to the establishment of regular payments for Shaikan export sales.

The statements by the Ministry of Natural Resources made on 3 August 2015 and 7 September 2015 and the statement by the Kurdistan Regional Council for Oil & Gas Affairs made on 27 August 2015 are available to view at:

http://mnr.krg.org/index.php/en/press-releases/476-update-on-payments-to-exporting-oil-companies-in-the-kurdistan-region

Commenting on today's news, Jón Ferrier, Gulf Keystone's Chief Executive Officer, said:

"At this critical time for our company and for the entire oil industry in the Kurdistan Region, we welcome the announcement of this payment of US$15 million gross for Shaikan export oil sales and we appreciate the support from our partner, the Kurdistan Regional Government."

Enquiries:

From the presentation 27Aug.,CPR update within 2-3 weeks.Could be this week?,worth watching the volume as it tends yo be a bit leaky?


">

RNS Number : 1379Z

Gulf Keystone Petroleum Ltd.

15 September 2015

Not for release, publication or distribution, directly or indirectly, in whole or in part in or into the United States or any jurisdiction other than the United Kingdom and Bermuda where to do so would constitute a contravention of the relevant laws or regulations of such jurisdiction. This announcement (and the information contained herein) does not contain or constitute an offer to sell or the solicitation of an offer to purchase, nor shall there be any sale of securities in any jurisdiction where such offer, solicitation or sale would constitute a contravention of the relevant laws or regulations of such jurisdiction.

15 September 2015

Gulf Keystone Petroleum Ltd. (LSE: GKP)

("Gulf Keystone" or "the Company")

Shaikan Operational and Payment Update

Gulf Keystone, the operator of the world class Shaikan field in the Kurdistan Region of Iraq, is pleased to announce that total commercial production from the Shaikan field has now surpassed 15 million barrels with the current daily average production in excess of 40,000 barrels of oil gross.

In July 2015, at the request of the Kurdistan Regional Government's ("KRG") Ministry of Natural Resources ("MNR"), the Company commenced trucking Shaikan crude oil a distance of 120 km to Fyshkhabour on the Turkish border for injection into the export pipeline to Ceyhan in Turkey. In anticipation of regular payments for pipeline export sales announced by the KRG earlier this month and at the request of the MNR, the Company is in the process of transferring all crude oil deliveries to the export pipeline.

As of today, the Company's cash position is US$73.0 million, including the recent payment of US$15 million gross (US$12 million net to Gulf Keystone) now received for Shaikan crude oil exports.

Enquiries:

Gulf Keystone Petroleum

I was recently fortunate to spend some time with Jón Ferrier who has recently become CEO of GKP, indeed given my 100 days in office fixation I immediately discovered that our chat was indeed on day 101 in office. I had done a bit of homework on Mr Ferrier and had very positive feedback from industry executives who praised him as a hands-on operationally hard-working type, probably what is needed at GKP right now. Indeed having spent some time working with Petro Canada in Syria, Ferrier has experience in tough conditions and old friends in the country, although when he sees me reading the Daily Telegraph interview he is less than amused by the inset picture of what looks like President Assad waving him off.

The last few years have been tough for all the companies working in Kurdistan which have been well documented but I would say that operationally and under such conditions all have performed well if not highly creditably. Recent reports from the company have shown record production, some days of nearly 50/- b/d have been reported so the wells are delivering the goods as are the production facilities. Shaikan is performing well with good connectivity and pretty much only restrained by infrastructure, the pipeline will have plenty of capacity and there are no water problems at present. Whether it is by truck to Dortyol or pipeline to Fyshkabour and then Ceyhan on the Mediterranean coast where the netbacks are better, GKP is maintaining a regular outflow despite recent problems.

Those problems have been primarily due to an absence of payments from the MNR, something that has now by the look of it been at least partially resolved. Recent payments and promises of the consistency of monthly amounts have led the CEO to believe that at last the KRG have realised that the oil industry is ‘the golden goose’ and that it was not just GKP that were close to administration. This lack of payments has left the company running on a lean mix and investing virtually nothing that wasnt needed to keep operational excellence. With only modest payments so far the company are not yet in a position to invest but all the companies in the region are upbeat that slowly but surely the money will come through.

So how does that leave the sales process I ask, quietly hoping that the company wasnt going to be sold out at what might be close to the bottom of the cycle? Shareholders I suggest are between a rock and a hard place as selling out down here would be barely palatable yet something is needed to finance future developments. Ferrier has some ‘serious names’ in the data room but probably getting my angst about selling out, tells me that the company would prefer ‘ an industrial investor as a partner’, I suggest that a helpful strategic benefactor might be best and he does not demur albeit suggesting that may be clutching at straws. The balance between ensuring that equity shareholders are not diluted out of sight and encouraging inward investment is a tricky one but I feel that he will do what is best for the company. Interestingly on the operational front, it seems that not as many wells will be needed to drilled as originally thought, 9 out of the planned 20 wells have been drilled and it wont take another 11 to reach targets. Those targets which looked a long way off even quite recently are still very much achievable, next stage is 65-70/- b/d with 100/- b/d the longer term target. GKP already has the site ready for the bigger processing plant and with such strong operating fundamentals and some money coming in this is more than a historic dream. The Government he says are ‘passionate about support for the companies’, saying that their success is our success about them.

The CPR that has been talked about is imminent and will provide the company with a further chance to speak to investors at length about the future. Ferrier is adamant that the relationship with investors large and small is going to change, so expect much more communication than in the past and all the way to the top, he acknowledges that this has been a problem in the historically.

Although it seems that GKP is turning the corner and I felt much more uplifted after the meeting than when I went in all is not going to be plain sailing under the new management. The finances are hardly text book and with only $15m a month coming in there may have to be some serious negotiating to be done before financial security can be achieved, but Ferrier who has a close relationship with Dr Ashti and will spend at least one week a month in Erbil has his finger on the pulse. A phrase often used is ‘world class asset’ but this is surely one of them, with a massive STOIP the worries are still about under selling it with which I concur. The asset he says ‘has a 40 year production life, this is just a blip’ and we havent talked about satellite developments or adjacent blocks yet not to mention Akri Bijeel where MOL are also doing a CPR at present. There will be more to write about GKP in coming days as the CPR finally comes out, but from what I have learnt so far my confidence hasn’t been dented although readers will know my historic calling on the company has been over enthusiastic to put it mildly, lets hope I am as they say, cautiously optimistic this time….
- See more at: Http://www.malcysblog.com/2015/09/oil-price-gulf-keystone-circle-oil-providence-resources-sefton-sundry-trinity-and-finally/#sthash.cZulk2B6.dpuf

Mr Roper 29 Sep'15 - 12:55 - 446737 of 446873 4 0

Good write up from Malcy.

withoutt 29 Sep'15 - 12:58 - 446738 of 446873 0 0

Gulf Keystone Petroleum
I was recently fortunate to spend some time with Jón Ferrier who has recently become CEO of GKP, indeed given my 100 days in office fixation I immediately discovered that our chat was indeed on day 101 in office. I had done a bit of homework on Mr Ferrier and had very positive feedback from industry executives who praised him as a hands-on operationally hard-working type, probably what is needed at GKP right now. Indeed having spent some time working with Petro Canada in Syria, Ferrier has experience in tough conditions and old friends in the country, although when he sees me reading the Daily Telegraph interview he is less than amused by the inset picture of what looks like President Assad waving him off.

The last few years have been tough for all the companies working in Kurdistan which have been well documented but I would say that operationally and under such conditions all have performed well if not highly creditably. Recent reports from the company have shown record production, some days of nearly 50/- b/d have been reported so the wells are delivering the goods as are the production facilities. Shaikan is performing well with good connectivity and pretty much only restrained by infrastructure, the pipeline will have plenty of capacity and there are no water problems at present. Whether it is by truck to Dortyol or pipeline to Fyshkabour and then Ceyhan on the Mediterranean coast where the netbacks are better, GKP is maintaining a regular outflow despite recent problems.

Those problems have been primarily due to an absence of payments from the MNR, something that has now by the look of it been at least partially resolved. Recent payments and promises of the consistency of monthly amounts have led the CEO to believe that at last the KRG have realised that the oil industry is ‘the golden goose’ and that it was not just GKP that were close to administration. This lack of payments has left the company running on a lean mix and investing virtually nothing that wasnt needed to keep operational excellence. With only modest payments so far the company are not yet in a position to invest but all the companies in the region are upbeat that slowly but surely the money will come through.

So how does that leave the sales process I ask, quietly hoping that the company wasnt going to be sold out at what might be close to the bottom of the cycle? Shareholders I suggest are between a rock and a hard place as selling out down here would be barely palatable yet something is needed to finance future developments. Ferrier has some ‘serious names’ in the data room but probably getting my angst about selling out, tells me that the company would prefer ‘ an industrial investor as a partner’, I suggest that a helpful strategic benefactor might be best and he does not demur albeit suggesting that may be clutching at straws. The balance between ensuring that equity shareholders are not diluted out of sight and encouraging inward investment is a tricky one but I feel that he will do what is best for the company. Interestingly on the operational front, it seems that not as many wells will be needed to drilled as originally thought, 9 out of the planned 20 wells have been drilled and it wont take another 11 to reach targets. Those targets which looked a long way off even quite recently are still very much achievable, next stage is 65-70/- b/d with 100/- b/d the longer term target. GKP already has the site ready for the bigger processing plant and with such strong operating fundamentals and some money coming in this is more than a historic dream. The Government he says are ‘passionate about support for the companies’, saying that their success is our success about them.

The CPR that has been talked about is imminent and will provide the company with a further chance to speak to investors at length about the future. Ferrier is adamant that the relationship with investors large and small is going to change, so expect much more communication than in the past and all the way to the top, he acknowledges that this has been a problem in the historically.

Although it seems that GKP is turning the corner and I felt much more uplifted after the meeting than when I went in all is not going to be plain sailing under the new management. The finances are hardly text book and with only $15m a month coming in there may have to be some serious negotiating to be done before financial security can be achieved, but Ferrier who has a close relationship with Dr Ashti and will spend at least one week a month in Erbil has his finger on the pulse. A phrase often used is ‘world class asset’ but this is surely one of them, with a massive STOIP the worries are still about under selling it with which I concur. The asset he says ‘has a 40 year production life, this is just a blip’ and we havent talked about satellite developments or adjacent blocks yet not to mention Akri Bijeel where MOL are also doing a CPR at present. There will be more to write about GKP in coming days as the CPR finally comes out, but from what I have learnt so far my confidence hasn’t been dented although readers will know my historic calling on the company has been over enthusiastic to put it mildly, lets hope I am as they say, cautiously optimistic this time….

Watch: Gulf Keystone Petroleum - CPR Update: Significant Upgrade of Shaikan 2P Reserves

click here

Great revision upwards with more to come with SA FDP too....