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.

Yes, I should have said testing the year high and heading off into uncharted waters.

Well update this morning, great result.
cyril

I know it's a bit late with this news but i have been out all day & want to keep this thread up to date. LONDON (AFX) - Gulf Keystone Petroleum Ltd said it has completed the workover of well GKS-2 and that flow rates at the well were much improved.

The workover was necessary to re-complete the well because it was temporarily abandoned. GKS-2 was discovered by SONATRACH in 1994 prior to the company entering into the production-sharing contract for Block 126 in 2001.

Chief executive Todd Kozel said: 'We are delighted with the results from GKS-2. The flow rates are much improved on those previously experienced and are an encouraging start to our workover programme. This is a successful step towards moving the GKS structure into commercial production.'

Production testing at GKS-2 revealed a measured flow rate of 4,586 barrels of oil per day and 4.61 mln cubic feet of gas per day.

vjt/ma

excellent news.

Interim results for the six months ended 30 June 2005
30 September 2005

Gulf Keystone Petroleum Limited ("Gulf Keystone" or the "Company"), the independent oil & gas exploration company operating in the Republic of Algeria, today announced its interim results for the period ending 30 June 2005.

Highlights
Award of 8 new exploration and appraisal blocks in Algeria
Presidential Decrees approving contracts on 6 of the new blocks
Much improved test results on GKS-2 after a successful workover
Successful completion of contractual commitments on Block 126a
Cash balance of $79m as at 30 June 2005
Loss per share down to 1.15c from 2.5c
First time adoption of IFRS in line with best practice
Todd Kozel, CEO of Gulf Keystone said:

"Gulf Keystone has made significant operational progress. We were successful in being awarded new acreage in Algeria and have already had the majority of the new contracts ratified. Our excellent test results on block 126a are a major step towards moving the GKS structure into commercial production."

Enquiries
Gulf Keystone Petroleum: 020 7514 1400
Todd Kozel, CEO
Caroline Brown, CFO

Evolution Securities: 020 7071 4300
Rob Collins

Citigate Dewe Rogerson: 020 7638 9571
Media: Martin Jackson / Rachel Lankester
Analysts

I feel the way we are going we could see 1 by Dec/ Jan if not before.

B/O now93/96,going great,any views goal.

Well, when i said 1 by Dec/ Jan i was looking at the chart above (technical analysis) but we seam to be moving up quicker than i thought we would & might be 1 by the end of this week, dare i say. The sky's the limit for GKP,
we are in uncharted territory

I think the rise is currently due to the well currently being drilled (think it's GKS??) so wouldn't be surprised to see some profit taking. That said, brokers estimating NAV at 1.25 and with bigger reading in Investors Chronicle, perhaps a bigger following. Either way lots of news flow ahead and plenty of exploratory wells. I don't think we'll see a production licence from Algeria until later in the year - when oil prices are likely to be higher.

Morning Greyhound. i think so too, interestingly i notice that brokers have gkp as a strong buy. I feel quietly confident.

Goal - also understand that Evolution have upped their risk reward target from 2 to 2.95. A substantial find in GKS-2 in the next 1000m would be just the ticket!!

any particular reason for this?

No reason that i can see, i notice that the buys & sells are pretty much even.

goal , been across the other side - the only thing being said is some leaky news we are unaware of

Down 10p, unbelievable..I hope it's not a leak maddoctor, it could be the mm dropping the price for a buy order.

channel 4 , saying negative drilling news

.

Buyers coming in now.

Not a lot happing at the mo, i was expecting GKP to say somthing by now, may be it is just a rumor.

Drilling update announced

Gulf Keystone (AIM - GKP.L), an independent oil and gas exploration company operating in the Republic of Algeria, today announces a non-commercial well test on its GKS-3 appraisal well on Block 126A in Algeria. The well was drilled to 3,981 metres and tested but failed to produce hydrocarbons from the fractured limestone reservoir section.

Because of the complexity of the fractured carbonate reservoir, the company and its advisors had always assumed 50% drilling success rates. Consequently, these well results fit with previous economic and risk modelling and expectations, and the company does not perceive any negative economic impact on the reserves of the GKS field. Indeed, Gulf Keystone is optimistic about the GKS field which recently tested the discovery well GKS-2 at 4,586 barrels of oil per day and 4.61 million cubic feet of gas per day.

The company will now move the rig and equipment to the GRJ field located in the southeast of Block 126A to await the completion of the drilling of the GRJ-2 well and to test both the GRJ-1 and GRJ-2 wells.

Todd Kozel, CEO of Gulf Keystone Petroleum, said: "While this GKS-3 result is disappointing, we have begun the process of applying for a production licence for the GKS field following the successful testing of the GKS-2 well. The company will now be focusing on both moving the GKS structure into commercial production and drilling the GRJ-2 well and testing the GRJ-1 well."