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.

credit to BBBS (Bah Bah Black Sheep) at another place

At least two very insightful comments from Todd, (well copied duffs55):

http://www.iii.co.uk/investment/detail/?display=discussion&code=cotn%3AGKP.L&threshold=5&it=le&action=detail&id=5346023

1. He said. "Everything is in the RNS. Interesting strucutures means we have identified further hrdrocarbons, however these have not been verified and we will release further on going news in due course."

2. "We are excited about what we are yet to discover, so watch this space"


1. PRIMARIES
-------------
"Everything is in the RNS". Indeed it is. So just how many primaries do we have then Todd?

- RNS of 6th August: "In addition to these well test results, it should be noted that the primary zones of interest for the Shaikan-1 exploration well are the underlying Alan and Mus formations."

- RNS of 25th August: "As previously announced, the Alan and Mus formations were identified as the primary oil bearing zones of interest for Shaikan-1"

- RNS of 18th Sept: "Beyond the 9-5/8" casing shoe, the Shaikan-1 well will drill into the Triassic rock layers to explore the remaining primary hydrocarbon targets"

If the Kurre Chine is now a "primary", the 1.5 - 3.0 BBL in the Alan and Mus formations is now sounding somewhat "secondary"? Or, if we err on the side of caution, how about an 'equal' "primary"? So, for the benefit of prophets (profits?), let me multiply 2 x 2, to get a total for Shaikan of between 3.0 - 6.0 BBL. That equals 4.5 BBL (P50).


2. THE ROOF IS LEAKING AGAIN
---------------------------
"We are excited about what we are yet to discover, so watch this space".

Oil reservoirs are a bit like my house in rainy season. Except that houses leak from without whereas reservoirs leak from within. With reference to my "Basic Geometry" post:

http://www.iii.co.uk/investment/detail/?display=discussion&code=cotn%3AGKP.L&threshold=0&it=le&action=detail&id=5336073

In section B2(a) Reservoir, I was trying to say that the initial Sargelu 'surprise' from 1450-1710 has subsequently been revised to a discovery (in the Alan and Mus formations) from 1467-1710m. The initial oil intervals around 1450m were indeed in the Sargelu, but it is now understood that these are only observations of oil breaking through the roof of the seal at the top of the Alan and Mus reservoir (at 1450m).

Similarly, in section B3(c) I am saying that the oil intervals observed within the Butmah seal from 1710-2500m are once again a consequence of the roof leaking above the Kurre Chine.

"What we are yet to discover" is obvious to Todd. Me too - the roof is leaking again.

BBBS

P.S. Do not expect too much from the next RNS. It will probably 'only' be DGA's confirmation of the 1.5 - 3.0 BBL thus far (to 1710m). But that in itself will still be quite positive for the sp because the markets will then have to seriously consider a most likley best estimate (P50) of around 2.3 BBL rather than their current view of erring on the side of extreme caution by giving GKP only 50% of the low estimate (P90) 1.5 BBL. A revision upwards for the OIP to 2500m is also possible, but that increase is unlikely to be large. Just be patient, it is only a matter of 2-3 weeks before the mother of all RNS's - at TD.

This one rising : I can understand with a big amount of oil discovered but Sterling Energy.....on the back of this....that is crazy !.

well guys--you should all be buying --Nighthawk--they are around the recent placing price of 35p!!---some brokers have target sights ranging from 90p to 268p!--in their recent placing at 35p they have raised @22m to commence a 20 well drilling programme at their Jolly Ranger field in USA where independent seismic consultants have estimated potential reserves of @ 1.5billion barrels of oil!!--time to seriously consider having a punt at these levels of 35p if you are not in them already--before the recent placing even the Investors Chronicle recommended them as a buy at 47p!--I have just topped up with some of my handsome profits on GKP which I bought at 22p and sold half at 91p!--follow me I am sure you will make money in these shares if you get in now!--STRONG BUY @35p!

I'm in HAWK at a loss at the moment...but what they have is chicken feed compared to the Iraq stuff....

no shit sherlock!

Off subject, Cynic and guys take a look at Microfocus MCRO...might be a rebound coming there...

lol :))

90 is the resistance for GKP .... it has challenged and failed a couple of times, so fingers crossed this time around


by the way, who's this prick blueface hawking HAWK ..... he can't even get the field correct, as it's Jolly Ranch NOT RANGER!

That is were it reached 4 years back, 95p in Oct 05. The difference is there is a lot more going on for the company now and my expectation is higher.

The drop in the price of crude has not made any difference to the sp....nearly 90p...now...boy !,.... long may this continue...

90p now....7 or 8 bagger for me now...

If you're not sure whether it's a 7 or 8 bagger, I should treat yourself to a calculator.

too expensive for me....

it'll be interesting to read the forward prognostication or more that will assuredly accompany the figures next wednesday ..... let's hope it will at least provide some impetus to push sp firmly through 90

add to the figures the anticipation of a buy out rumour and off we go through 100p or is that a christmas wish to far.......it is struggling to break 90p

it is certainly easy to confuse GKP and GPX, but it is GPX who are the more likely t/o target since Sinochem (from memory) took out their partners (EEN) at Khurbet

sure i read.....indian government backed oil company are looking/trawling for opportunities to increase reserves for the future......also mentioned was a russian approach......not gonna cross my fingers.....just keep watching.......have a good weekend all

Let's hope it breaks this 90p barrier soon....EK is shorting this so if he started at 70p it must be hurting his pocket big time : at a guess 100000 shares short, times 20p down = 20000 ouch !....they haven't even finished drilling yet so there is the possibility of more...I must admit that if they discover another big amount of crude, I will fall off my stool !.

RNS this afternoon.
Placing imminent. Should underpin the sp

i'm not sayinmg you're wrong, but from where did you glean this info, as nothing even on GKP's own web site even to hint at same