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.

Toya,i know what you mean by greed and i would even add fear to that in my case where GKP is concerned,probably because i got in late @76 watching it from early 30,s. well lets see what tommorrow brings,i will be watching Cynic like a hawk.

http://www.dailymail.co.uk/money/article-1218352/MARKET-REPORT-Punters-placing-bets-888-bid.html#ixzz0T6ELOVRl

Thanks capetown. Here is the article:

Gulf Keystone Petroleum closed up a stonking 28pc as talk resurfaced that the AIM-listed oil exploration and development company is on the radar screen of the deal-hungry Chinese. The company operates in Algeria and Kurdistan. Chinese state-owned Sinopec recently bought Addax Petroleum, which also operates in Kurdistan, and Sinochem bought Emerald Energy to expand into oil and gas in Syria and Columbia. Shares were 23.25 higher at 105.5p.

Read more: http://www.dailymail.co.uk/money/article-1218352/MARKET-REPORT-Punters-placing-bets-888-bid.html#ixzz0T6P0DORl

Thanks both. Could even be worth buying more this morning - but that would be greedy...

CT: as I don't have a video-link to Cynic, I think I'll stick with watching the GKP chart instead :)

Toya,i admire and respect Cynics brutal honesty and is posts have served me well in the past and no doubt in the future ,one does not have to agree ,but a balanced view is always a basis for debate.Today should be interesting especially if we get even more press coverage.

Good luck to all.

Yes - Cynic is very knowledgeable, despite his claiming to have an addled brain.
Let's hope he doesn't have to rush off to his golf today - though I will be going out later and will miss some of the fun.

RNS.
So its the further discovery that leaked its way into the market ahead of the rns and perhaps not the speculation of a bid,this gets better and better.

Think I might buy more after all...

Link to today's RNS:
Shaikan-1 Triassic Discovery

Reading the rns again,are they saying the new discovery has a deposit of higher grade oil and is of better quality than the first discovery at higher levels?

for those who can't be arsed, herebelow slightly edited .....

Gulf Keystone Petroleum Ltd. (AIM: GKP) today announces an oil discovery in the upper portions of the Triassic section of the Shaikan - 1 exploration well ...... limited test resulted in 40+ degree API oil rates up to 2,000 bopd and associated gas rates of up to 2 mmscf/d, yielding a gas/oil ratio of approximately 1,000 scf/bbl.

This high energy, light oil discovery is in addition to the 2.0 to 4.0 billion barrels of heavier (22 to 17 degree API gravity) oil previously announced at various levels throughout the shallower Jurassic intervals ....... significantly improve chances of finding additional light oil targets in the 700 to 1000 meters still to be drilled.

'The discovery of a higher energy reservoir in the upper portions of the Triassic section of the Shaikan - 1, while very significant in its own right, should also prove very beneficial to future development and exploitation of the large reserves of heavier, low GOR oil in the Jurassic portion of the well.'

I think the point is that this discovery:

"significantly improve[s the] chances of finding additional light oil targets in the 700 to 1000 meters still to be drilled."

So: further potential on top of what they'd already anticipated - is my interpretation, but could be wrong.

morning T ..... exactly along those lines ...... sp will probably over-react this morning, but at the right price, whatever that may be, it just may be worth tucking away a few more

there is no question but that GPK is now looking good in its own right, and just as importantly in many ways, makes the company an increasingly tasty morsel for a predator

Morning Cynic, difficult to know what level to buy at now - ideally below 100p.

and then you'll fret that sp is falling away! ...... for myself, i'll try to resist the greed, for in terms of stake level, i really have enough already

Is this great or what ?.

that sp is now softer than last night's close or what?

Yes: just went below 100p. Well, I'll get on with other things and check back later.

Thankfully couldn't buy any first thing on panic..... glad now as the sp retraced as I hoped and will wait. :)

If they've got this far since last RNS, and a 1000m to go about a week to 10 days should be very interesting. imo

What with the oil discoveries, more drilling, more wells, and the big possibility of a takeover coupled with at a guess "oil to rise" : this looks set for 140p or more !.