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 little strange that this share is still been traded @ around 5p when the dilution has been approved.
Would have expeceted it to be nearer 1p by now but it is not..
Why?

Open Offer Launch
The Company announces that it has today launched an open offer (the "Open Offer") for up to 2,294,295,672 new common shares in the Company (the "Open Offer Shares") at a price of 0.8314 pence per share, to raise up to US$25 million.

Subject to certain exceptions, the Open Offer is being made to the Company's shareholders who are on the register of members on the record date, being 5:00 p.m. (London time) on 30 August 2016, on the basis of 20 Open Offer Shares for every nine existing common shares in the Company. The Open Offer will close at 11.00 a.m. on 15 September 2016.

The Open Offer is being conducted in connection with the Company's Balance Sheet Restructuring Transaction ("Restructuring") announced on 14 July 2016, and the Open Offer is conditional on implementation of the Restructuring.

It has emerged that Los Angeles-based Capital Group, Gulf Keystone’s largest shareholder, is preparing to plough up to $20m into an emergency 2bn share offering which is needed to keep the company afloat while it restructures its hefty debt pile.

http://www.telegraph.co.uk/business/2016/09/03/us-fund-giant-to-stump-up-20m-to-keep-gulf-keystone-afloat/

Not good.

the very brave would have shorted when it was recently and undeservedly still 5p
it's questionable whether it is even worth 1p

I this half dead horse soon ready for a punt again?
RI closing 11 am 15th September

now you really are a brave chap!
penny for your thoughts in more ways than one :-)

Not a RI but an Open Offer......
22 billion shares about to come on the market pretty soon and a presently tabled offer from DNO of about 1p.
If the bhs don't sell immediately then a consolidation is surely on the way.....

Thanks Ruthbaby

I did not look for the RNS today, I should have

16 September 2016

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

Results of the Open Offer
for up to 2,294,295,672 new common shares in the Company (the "Open Offer Shares")
at a price of 0.8314 pence per share, to raise up to US$25 million
The Company is pleased to announce the results of the Open Offer which closed for acceptances at 11.00 a.m. on 15 September 2016.

The Open Offer has been oversubscribed and valid acceptances have been received in respect of the entirety of the Open Offer Shares.

Qualifying Shareholders who have validly applied for Open Offer Shares will receive their full Open Offer Entitlement.

Applications under the Excess Entitlements Facility will be scaled back in accordance with the terms of the Open Offer.

The Open Offer is being conducted in connection with the Company's Balance Sheet Restructuring Transaction ("Restructuring") announced on 14 July 2016, and the Open Offer remains conditional on implementation of the Restructuring.

Subject to the implementation of the Restructuring, it is currently expected that admission and commencement of dealings in the New Common Shares will occur on or around 14 October.

This announcement should be read in conjunction with the full text of the prospectus published by the Company on 31 August (the "Prospectus"). All capitalised/defined terms in this announcement and not otherwise defined shall have meaning given to them in the Prospectus.

For further information visit the Restructuring microsite which can be accessed through the Company's website www.gulfkeystone.com.

2.26p +0.075p

Large volume already as much as yesterday on less than 3 hours trading.
A bit of recovery this morning despite a negative report on the mail......

How a Tory MP made £370k from oil firm Gulf Keystone with debts of £470m while small investors suffer share price crash.

Despite this lamentable state of affairs, a handful of men at the top of the business have been making large sums.
Intriguingly, they include Conservative MP Nadhim Zahawi, who before the Gulf Keystone debacle was probably best known as the multi-millionaire founder and former chief executive of online pollsters YouGov. .................

How-Tory-MP-s-370k-oil-firm-debts-470m-small-investors-suffer-share-price-crash

Share price lower again today.

the surprise is that the company is still afloat

1.27p - 0.08p

Some it seems were already selling them ahead of today's date on looking at the volume of the last 3 days ........

commencement of dealings in the New Common Shares will occur on or around 14 October.

Not Good..

Am I missing some thing if the total issued share capital of the Company now comprises 22,942,956,605 Common Shares, and the old M/Cap was about 15m before the Restructuring Transaction shouldn't the sp be about .0007p ?

how do you work it out? .. 0.007p

then I can tell you where you are wrong if so

mentor

22,942,956,605 X .0007 = £16060069

It was about that before Restructuring

The number of share before was less
and you have to add the open offer money and more some exchange of the bonds
Having less debt, means the company is in better shape


they raise up to US$25 million

mentor

Cheers I missed all that just a quick look in, I dont hold..

Still looks like the sp is a bit high.. IMO