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.

No indeed... guess they'll be waiting for confirmation from various reports...

May just have to postpone that holiday of yours BB ;)

By the time Watcher wakes up the show will be over - almost back to where we started!

five figure asc profit.... already booked, off on the 22nd till 3 jan. HELLO Father Christmas....lol

Apologies for keep banging on but in a good market with confidence then this would sail to 150p but in this market where everybody is fretting that we are going to do a double bottom nobody is prepared to risk buying tiddlers which is why as soon as traders get a profit they take it and get out quickly. For companies such as this then a fundamental change of attitude is needed in the market and I for one hope it is sooner rather than later.

Would have been nice to have had 1.50 for five mins to take a profit but 1.20 not enough. is that fair comment?

"The upper Triassic oil and condensate finds announced today, with their associated gas volumes, will be invaluable in the development of the Shaikan discoveries. The excellent permeabilities encountered throughout the well, combined with the availability of significant quantities of gas from the upper Triassic, encourage us to believe that industry average recovery factors (30-35%) might be achievable in the various reservoirs of the Shaikan-1 exploration well. This theory will be evaluated further during the upcoming extended well test."


inter alia, what a damning indictment of the current industry inefficiences.
much noise is being made about CO2 and/or N2 injection for extraction enhancement, and there's also unproven mechanical technology from the likes of CRA, but the likes of saudi would still rather just drill another hole.

Yep but it ain't going to happen unless conditions improve which is why I hold many tiddlers but wouldn't dream of buying anymore atm as risk/reward just doesn't justify it. There are exceptions of course such as PXS which does appear to be volatile still. My own feeling is that probably everybody has got it wrong and we're not going down. The last fallers at the height of the panic a year ago were the big miners so maybe they alone will keep rising and then when everybody realises they've got it wrong, the rest will follow.

the doom-mongers are themselves doomed, though eventually they will be proved right when we reach the top of the next cycle .... that does not mean that everything will keep going up in a straight line pro tem, but the trend is now firmly set that way

So, Balerboy, it doesn't look like we'll be seeing you over the New Year, but with a 5 figure sum in the bag , you could afford to take us all to Tenerife as well but personally I'd prefer a cruise.

Nice result.....a few months wait now to more drilling results...with possibly a fund raising exercise somewhere along the line.

Modkins.. more the merrier, maybe a cruise next year but bring one of those wrist straps/reins if you bring RF along......you know his reputation for jumping ship.........lol

New article, click HERE

I'd love a cruise, we'd might bring Tom along as well...now where's that success book I was reading....

The price 110p looks like a support at the moment
Though the order book is very weak on the bid side, about 35 more trades on the offer side for the last hour.

Intraday

We still go a long way to go, as cynic said earlier they can't export any of it yet so a lot of work to do.Take over best bet for anyone in for a quick buck.

Gulf Keystone gushes that oil find in Iraq could...
The Times on line article.

Sorry, old news.

Order book still very weak, but trying to bounce from lows of the day

Intraday chart 15 minutes delayed

got up early but waited for the re-action to the news.......got to be for the long haul now....and agree buyout target with these reserves......night night

from ...... proactive investors - Monday, November 23, 2009

FD Capital raises Gulf Keystone target to 200p after latest Shaikan-1 oil discovery announcement

Broker Fox-Davies Capital (FD-Capital) noted the latest discovery announcement from Iraq and Algeria operating Gulf Keystone Petroleum (AIM: GKP), calling its Shaikan-1 well in the Kurdistan region of northern Iraq unstoppable and increasing its target for the company to nearly double the current price.

The additional Triassic discovery from the well was announced this morning with reported flow rates of 10,000 boepd (barrels of oil equivalent per day), resulting in an aggregate actual test rate of 20,000 boepd from the Jurassic tests done thus far in Shaikan-1.

The company has previously reported test results from the Jurassic zone, where tests indicated production of 7,000 boepd, bringing the cumulative production potential of the two zones to 31,000 boepd. IN todays statement Gulf Keystone noted that it had discovered over 10,000 metres of oil column and over 200 metres of net pay, having tested less than 30% of the net pay zones.

FD Capital products this aggregate potential to rise significantly as the company undertakes longer term well tests that will be conducted after the drilling rig leaves location in the first half of 2010.

On the back of those tests, the STOIIP (stock tank oil initially in place) estimates for the Triassic section were raised from 0.5Bbbl (billion barrels) to 0.5-1.5 Bbbl, while the recovery factor was upped to 50% from 40% due to the high oil density, compared to the recovery factor of 18% for the Jurassic portion of the reservoir, resulting in an aggregate recovery of 28% from the 4.4 Bbbl STOIIP.

The broker left the probability of success estimate unchanged at 67% for Shaikan-1 and 50% for the companys other three licenses. The impact of the resource revision is about 26 pence.

FD Capital said it remained very positive on Gulf Keystone, retaining its buy recommendation for the stock and raising its target price for the company to 200 pence, compared to the stocks current trading price of 110 pence.