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.

http://www.youtube.com/watch?v=-HNxmZ6f5fs&feature=youtu.be

nice write up in MoneyWeek today: How to profit as govs make a grab for oil and commodities (from my hardcopy)

Big Oil (supermajors) are facing hard times

"Big oil is in liquidation as it cannot replace its own reserves": many industry watchers feel that the traditional model of a large integrated oil company that can boost its reserves is coming to an end. this renders big oil to the role of bankers, the unwitting provider of capital...."

like this bit too "this is further pressured by the fact that there simply are no more large projects anywhere, that are easy to invest in, at the time when Big oil is essentially in liquidation as it cannot replace its own reserves"....

easy to invest in gpk, but currently not so easy to export the oil!

1.4million trade.

nown
16/03/12 16:57 263.25 1,400,000 O 262.0 263.25 Buy 3,117,418 1,856,113 23,873

this has become the biggest ramping thread on moneyam,how boreing,get a life take the weekend off.

I taking the weekend off hal, going to the theatre Royal Bath tomorrow pm for a good laugh, it's our silver wed anniv,. I also topped up here this a.m. as i think over the next 12 months we'll see £5 by xmas and more.,.

how can being married for 25 years be a good laugh????? :-(
i've been married 32 years (i think), so i should know

lol cynic, mrs is good laugh too but I meant what we're going to see at the theatre.

Anyone got more detail of this:

By Ben Lando of Iraq Oil Report
Published March 16, 2012 Iraq's Kurdistan region has threatened to end oil exports if the central government does not hand over more than $1 billion in backlogged payments – the latest flashpoint in a long-standing conflict over the distribution of state oil powers.

A year ago, Baghdad and the Kurdistan Regional Government (KRG) reached a stop-gap agreement to re-start Kurdish exports, but its implementation depended on political cooperation, not the force of law. Now, that deal appears to have passed its expiratio...

BB congratulations on reaching your Silver wed annvi.,not too many will reach that
nowadays.
B Booards are for sharing views and info,both good and bad,to help others with decision making.Take a recent post by Harry on Exxon,which had me selling a large portion of my stock,thank you 'arry.

Halifax you come acroos as a sad and bitter person,who adds nothing but cheap snips and for that reason i'm squelching you.

But my reason for popping in,was to share the following.


Exxon Told Iraq It Froze Kurdish Contracts, Al-Luaibi Says

By Tara Patel - Mar 16, 2012 7:06 PM GMT QUEUEQ

Exxon Mobil Corp. (XOM) informed the government of Iraq it froze its contracts with the semi- autonomous region of Kurdistan.

“We received the letter from Exxon to freeze the oil contract with Kurdistan,” Iraqi Oil Minister Abdul Kareem al- Luaibi told reporters today in Paris. Entry into Kurdistan will “depend on a new oil and gas law and if it’s approved there is a good chance to solve all the problems with Kurdistan.”

Iraq received a letter from Exxon March 5 and the company may be allowed to join a next bidding round for oil contracts “if we receive another letter on this issue,” al-Luaibi said.

Exxon spokesman Alan Jeffers said by e-mail he declined to comment on al-Luaibi’s comments.

Iraq’s central government has so far refused to recognize production-sharing agreements between foreign companies and Kurdistan, home to about 40 percent of Iraq’s 115 billion barrels of reserves. The central government insists on service contracts with foreign companies, rather than production-sharing contracts, and says it needs to pre-approve any agreements concerning energy resources.

Production from Kurdistan is more than 180,000 barrels a day and the central government is receiving about 70,000 barrels a day, the Iraqi minister said.

To contact the reporter on this story: Tara Patel in Paris at tpatel2@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net

http://www.bloomberg.com/news/2012-03-16/exxon-told-iraq-it-h

IRAQ OIL REPORT-SUNDAY MARCH 18, 2012 Exxon deals not frozen, KRG says
http://www.precogz.com/home/

SATURDAYS OIL & GAS WRAP-17/03/2012,Gulf Keystone Petroleum,Range Resources
http://www.precogz.com/news/page/4/

I have a feeling you are not going to last very long Precogz! You probably should have gone through proper channels to promote your website!

Getting also on my nerves already.

goodness knows what noc thinks of him then .... he seems to have become rather intolerant in his dotage, for hali really is a very inoffensive chap and quite often talks sense even if at variance with (some) others

A great day yesterday,the 3rd Gran Slam in 7 years,not bad for a nation of 3million.

I strongly disagree with posters being offensive to each other and thought what a thoughly nasty piece of work and cowardly. I don't tolerate or engage in such behavour,hence the squelch.

It looks like the politics are coming to a head,it's certainly the real issue holding back progress for the Irag people in general?

Al-luabi says "Entry into Kurdistan will “depend on a new oil and gas law and if it’s approved there is a good chance to solve all the problems with Kurdistan.”

PRECOGZ ,look's a good website , more up-to-date info then some sites

http://gkpinvestor.proboards.com/index.cgi?board=articles&action=display&thread=22

Found this a worthy read,well reasoned.

Long time lurker here, not really much to input but just thought I would share a thought or two, It is good to see FB and Dales back, we need them, and we all knew they could never leave us as their hearts are in the right place,sorry about your loss Dalesmann, anyway my ramble,

I cannot see Exxon getting to buy GKP lock stock and billion bbls, or even getting Shaikan lock stock and billion bbls for that matter. GKP and/or Shaikan is too big for one company to have alone, even for Exxon.

Look at what was supposed to be the last biggest Oil discovery in 30 years Kashagan and other some other big fields and comapare.

Google Kashagan,
you get on the 1st page wikipediea, Agipkco, Platts, Reuters, Bloomberg,

Google Azeri-Chirag-Gunashli, ist page you get Wikipedia, BP, BP ETC

Google Shaikan you get, GKP, Rigzone, then III III III,UVA board!

Whey the big secret about Shaikan? No big players attached to it yet, that we know about! That is first mover advantage for us PIs.

Look at these big fields, %owners etc

Kashagan, Oil in Place 38 bil, Recoverable 13 Bil

Partners

Eni (16.81%), Shell (16.81%), Total (16.81%), ExxonMobil (16.81%), KazMunayGas (16.81%), ConocoPhillips (8.4%), Inpex (7.56%).

Dicovered, 2000 Estimate 1st Production 2012? I doubt even then production will start as it has been dogged with all sorts of problem

Capex, 19 Bil 1st phase, and counting well over budget,



Azeri-Chirag-Gunashli, Recoverable oil 5-6 Billion bbls

BP with 34.1367% of stakes, ChevronTexaco - 10.2814%, SOCAR - 10%, INPEX - 10%, Statoil - 8.5633%, ExxonMobil - 8.006%, TPAO - 6.75%, Devon Energy - 5.6262%, Itochu - 3.9205% and Amerada Hess - 2.7213%

Dicovered, 1985, 1st Production 1997,

Capex 20 Bil

Tengiz, Kazakhstan 27 Bil in Place, 6-9 Bil Recoverable.

Tengizchevroil are Chevron (50%), ExxonMobil (25%), the Kazakhstan government through KazMunayGas (20%) and Russian LukArco (5%)

Discovered 1979, 1st Production 1991


All the above are massive fields, all 12 years from discovery to 1st Production,

Compare Shaikan to above fields.

GKP, 75%. TK 5%, Mol 20%, ok with BIR etc we all know that changes GKP 51% etc

Only field above with that sort of percentange of ownership is Tengiz and Chevron, and that was 1st mover advantage into Kazakstan for Chevron, check out the History you will find out, I have friends who went in then after break up of Soviet Union to work in Tengiz.

Shaikan Discovered 2009 :-)1ST Production? We have EWTs ongoing but serious Production ok lets say 2014 5 Years compared to 12 years.

Capex 7 Bil..low low low

GKP also have Shaik ADi, Ben Behr and Akir Bijeel on top of Shaikan, It is not even healthy in a business sense for the KRG to give all what GKP have to one player. What if that goes wrong, it must be split'

What are we worth? It is not £8 per share thats for sure,

Below is a story from last year regarding the Kashagan Oilfield and part sale from Exxon,(Wonder why they need the money;-), but $5 bil wont cut it)

From the link below,

News Wires
08 June 2011 08:04 GMT
.A consortium of state-run companies in India is working on plans to buy ExxonMobil’s stake in Kazakhstan's Kashagan oilfield in yet another push by the energy-hungry South Asian country to secure oil and gas resources for its expanding economy.




"We are interested. We are working on it," B C Tripathi, chairman of state-run gas distributor Gail told Dow Jones Newswires. He declined to elaborate.

Separately, a senior executive at India's flagship explorer Oil & Natural Gas Corporation (ONGC) who didn't wish to be named, said its overseas investment arm, ONGC Videsh, is in talks with Gail to purchase ExxonMobil's stake.

The Hindustan Times newspaper reported earlier today that ONGC Videsh and GAIL are jointly planning to buy an 8.4% stake in the Kashagan oilfield from ExxonMobil for about $5 billion.

The consortium has submitted a non-binding bid to the US supermajor to buy about half of its 16.8% stake in the oilfield, the report said, citing documents related to the deal."

http://www.upstreamonline.com/live/article260372.ece



That is $5 Billion for a 8.4% stake in Kashagan, what is over budget, over schedule, has had nothing but problems since discovery and not in production yet. Shaikan could be on serious production before Kashagan,

We are speaking about 350 million to 500 million for the sale of 12 % of Aker Bijeel, IT IS NOT ENOUGH I want more, I think that is GKP/JG is being conservative like the OIP , this is a company maker for MOL. Look at the above percentages why wouldnt a Major want a share in this field and if they get BIR also they have a large part of a big oilfield.

What are the BIR worth, I am sure they have an Idea but it is so massive they must get it correct and that is why we hear nothing.

I think no way GKP and the GREATER SHAIKAN can be sold to one or even two players. It is too big.

When will we google Shaikan and not get III, III, III on the first 10 hits? Not long I feel!

Here to July 9th 2012;-)

Anyway back to lurken!

PS. I think it was the 19th March 2009 my 1st purchase of GKP, Must have a stella that night! Good Rant Last night JB.

Good luck all

Iraq and Kurdistan: how to divide oil? 18 March 2012, 13:42
http://www.precogz.com/home/

I can see this becoming a serious irritation....