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.

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 !.

L2 shows there are currently twice as many sellers as buyers, being the exact reverse of yesterday ...... what happens over the coming weeks will be interesting to see - but i hope not too scary

retrace to mid to low 90's would be in order till the next news.

Could be scary with CFDs but end result must surely be an upward movement in sp over the next month? I've bought more on that basis, though not as CFDs

hard to know where next, but certainly sp currently looks most reluctant to drop back below 100

thanks for your concern T, but have been a very good boy of late and regularly taken money off the table and banked it ..... looking back, i see i have traded this stock several times since april, and though with hindsight (great stuff that!) i would have done better to hold throughout, i really shouldn't complain about already banking several 000 to date and with a very healthy paper profit currently

yep i topped up this morning - this will rise once the profit takers, mm games etc etc concluded - still hopefull 'ish of 115p at close today - 130p end of week - still wont sell at that level

I can't see a reason for a rise to 115p until drilling finished, and remember the 2 - 4 bopd is only their estimate not fact.

Might just steady as WTI crude is up above $70.....I think that a crude push to $80 is coming, we shall see...

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Monday, 5 October 2009
purchases

1 ROYAL BK SCOT GRP 8.49%

2 LLOYDS BANKING GROUP PLC 7.80%

3 Gulf Keystone Petroleum 4.01%

4 BARCLAYS 3.61%

5 BPC Ld 2.27%

6 XSTRATA 1.79%

7 TAYLOR WIMPEY PLC 1.51%

8 Yell Group 1.39%

9 BP 1.39%

10 Enegi Oil PLC 1.11%

Pullback at the moment...but more forward surges could come at any time...could easily jump up by 20p or so in a matter of minutes...

wishful thinking......

Looks like there is a lot more oil at the bottom....crude is rising and one of these days a burst up to the upper seventies (dollar per barrel ) will come...should pull a lot of oil stocks with it...and there will be a lot more drilling after this well !.

http://www.guardian.co.uk/business/marketforceslive/2009/oct/06/2

gkp shares fell 7p on rumours of placing of between 40 and 80 million.

As i suggested, topped up at .96p waiting with antisipation.... is that right??

From The Times October 7, 2009

Hold on tight its a rocky ride through the Kurdish mountains
Robin Pagnamenta: Tempus

Recommend?
We have no friends but the mountains, runs an old Kurdish proverb. But Erbil, capital of the semi-autonomous Kurdish province in northern Iraq, seems a surprisingly popular place these days, where the hotel lobbies buzz with oil executives from around the globe.

Gulf Keystone yesterday became the latest Kurdish-focused oil explorer to announce a fresh discovery, in its Shaikan block, its second in two weeks as it presses ahead with an intensive drilling programme launched in April.

Shaikan is turning out to be an increasingly significant field, with up to four billion barrels of oil already thought to be available in the shallower reaches of the well.

The latest discovery should, once all the data has been collected, push that total up further. Moreover, the latest find appears to be a higher grade of light crude, mixed with gas, rather than the less valuable heavy oil that was identified earlier.

It will also boost hopes of further discoveries in the remaining 1,000 metres or more that have yet to be drilled at Shaikan.

For Gulf Keystone, a former tiddler whose share price has surged tenfold in six months from a little more than 10p in March to 98.2p yesterday, it has been quite a ride. The groups market capitalisation now stands at 472 million quite an achievement for a company with only 50 employees but Gulf Keystone still has big challenges ahead.

Above all, the group will need plenty of money to develop Shaikan and recently published an aspirational spending plan totalling $88 million (55 million). The sale of its other main asset, in Algeria, should help with this, but a possible share placing looks likely in the months ahead, especially since the group has been burning up cash in recent months.

Its cash reserves of $16.7 million have nearly halved in a year, from the $29.6 million reported in the first half of 2008.

In addition, while Gulf Keystone seems to be playing a good game there, northern Iraq remains a potentially volatile place to do business. It is not merely the uncertainty that persists over the legal status of oil contracts signed with authorities in Erbil rather than Iraqs central government in Baghdad some of its peers, such as DNO, of Norway, have slipped up with the the Kurdish regional government in recent weeks.

While shares in Gulf Keystone have had an impressive run, there are now risks to the downside and now may be the time for investors to sit tight rather than load up further.

As one observer pointed out yesterday, Gulf Keystone may be a one-trick pony, but Shaikan looks like quite a pony.

Hold the shares.

Nice article except that Sterling energy is the one trick pony....not Gulfkeystone...which has other blocks !.