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.

From PCI presentation,page 16. note "TOTAL"

http://www.petroceltic.ie/~/media/Files/P/Petroceltic/presentation/2012/Merrill%20Lynch%20%20Conference%20April%20%202012.pdf

•First Phase Financial Commitment of appx. $72 million net to PCI, inclusive of all Signature and Capacity building Bonuses

•Recent material entrants and fundings include Hess, Maersk, Repsol, Afren, Vallares, Gulf Keystone, Exxon Mobil and Total
Dinarta and Shakrok Blocks - Transaction Overview
16

http://iraqidinarchat.net/?p=3287

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the core of the argument will be whether it is deemed malicious and/or a deliberate and serious campaign to lower the share price - or something along those lines i guess

cynic does it not beg the question why their directors are so sensitive if they are doing so well?

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yes results to be announced on 28th May should confirm their success in 2011.

Getting in ahead of STEAM.

http://www.steam.com.tr/arena/AEPRO3400Eng.pdf

http://www.iii.co.uk/tv/episode/update-gulf-keystone

http://www.investegate.co.uk/Article.aspx?id=201205280700171861E

RNS underwhelming results.

market seems happy enough, but as with HOIL, time and patience is required .... at least both GKN and HOIL (and AFR) have commercial assets - unlike the likes of FOGL and BOR!

cynic their numbers are weak annual sales $6.9m admin expenses $60m?

ah well, you don't like TLW either :-)
if you're a holder from 450, then i'm sure you will be feeling very sore, but at this sort of level, your risk that no solution will be found between N and S Iraq has sort-of halved

cynic market having second thoughts about their results, as you say unless the Kurds and Baghdad settle their differences the sp is likely to drift downwards.

not exactly second thoughts ..... whole market is drifting rather aimlesly back and forth

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a name from the past!

Seymour Pierce note:

GKP’s results this morning hold few surprises. The company reiterated its operational successes (primarily at Shaikan) and laid out its future strategy for both the assets and the company. On the financial side, losses after tax increased to $62.4m from $25.9m driven mainly by a share based payment scheme as well as impairment for an asset held for sale. The company remains well funded with $237.65m of cash. 2012’s numbers will be helped by forecast increased cash flow from production.
Operationally, the company continues to make good progress at Shaikan. In our post site visit note, we described how the company is due to construct a second production facility here which is due online by the end of 2012. Its construction will allow for a substantial increase (30-40,000bbl/d forecast) in production from this field. We had hoped for some more clarity on the sale of Akri Bijeel, which would appear to be taking longer than expected. A result from the Genel operated Ber Behr is now expected by the end of 2Q12. They restated their ambition to move to the main board, but no timetable was stated.
Overall, today’s results hold few surprises. GKP has several key exploration and appraisal wells in 2012, which could drive significant increases in the resource base. The sale of Akri Bijeel will provide a major cash injection. Finally, the company has laid out a development plan which will get them to c.40,000bbl/d in 2013. We continue to be BUYers with a target price of 520p.

latest drilling rns does not look very encouraging to me, but i need the market to determine what it all actually means