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.investegate.co.uk/Article.aspx?id=201210150700116525O

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Make of this what you like?


From Mansooreo on iii

Bean a while since I shared an update from my end( contact in.ebril). Met with my friend in ny a few nights ago as he was busy visitng family.

Talked about keystone and he mentioned that they are cutting back on their operations and support staff before at year end. He said they are scaling back, that they will be finishing their drilling program and are in new rush to do so. He is still adament that a deal is alrewady on the table but they are waiting for things to die down in the courts.

He mentioned that excalibars backers are big guys and that they are going to push this through as they believe that they have a solid case. He also thinks that they have a very string case as this OS kurdistan and people don't exactly play by the rules in this town and a lot of those factors and points will come out in the next few weeks.

He also mentioned that excalubar is not there to settle. They beleuve they are entitled to thirty share of shaikan and are going to open up the doors to tks dirty past and underhand dealings.

Saying this, he believes that keystone have already tied up a deal with a big American oilly, bot the Chinese as first thought.

He also says that everyone in ebril wants what GKP has in shaikan, especially excalibar.

Just an update!

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Back at 200p again and breaking down.

Wonder if cynic has sold and forget to tell everyone ?

I'm sure he says he sold last week at 210p... all the talking he does.

No, cynic brought MORE at 201.75p and no further posts of sales since then.

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exactly so, and position remains the same

Should have sold at 210p or 215p cynic.

Take the profit.

You have lost the profit now and at a loss. Why did you not sell when you had a paper profit ? Like you tell everyone else to do ?

because i didn't have a paper profit at 215 on my whole holding!
further, unlike the stocks you keep raving about, GKP actually has oil and assuming this court case with excalibur is just a nuisance opportunist endeavour, as it would appear, the upside in the short term is looking healthier by the week

mnamreh Thanks for earlier,must admit focused on the threshold through bleary eyes.
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Cynic ,....you can never say with the courts.....cases that seem done and dusted can be overturned on appeal....and it happens many a time in dramatic way !..

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rf - absolutely so, but a reasonable guess nevertheless

12:37


Taken from GKPFB


pathai


Just left court after opening hour and am no more/less confident of a win! The Excalibur lawyer had the floor for whole time I was there and I'm sure he is an astute legal mind but did not hold the floor with great authority and seemed to waffle on quite a bit. The main crux of his opening was that Ex have been left with nothing despite being the sole reason for GKP being in Kurdistan in first place. No real meat there and just rambled on about Rex finding his way in to K'stan with Turkish smugglers in 03 then via Baghdad going back to start looking for deals and business opps. Supposedly he met the Kurdish PM who encouraged him to look for an independent E&P company to work with to exploit his first mover advantage in 05.

I was sitting directly behind Rex and Eric with the defence team in front of them and Todd to right of the room. First time in a commercial court but still surprised by the amount of lawyers there. I can definitely see where the £10m court costs will go!

Numbers wise there was a reference to the valuation of Shaikan being $5.2bn and AB being $395m and the 30% claim but not much else other than the judge pointing out the obvious about if they wanted 30% of the profit were they prepared to stump the equivalent in costs? To
Me that's the crux of the whole thing.

I found it quite boring after the initial excitement and tension but hopefully the other PIs in attendance will provide more juicy details as the case progresses. I was sitting next to a nice gent Ed who was with B1... from iii so looking forward to reading their account later.

From another board.


'In addition, the Company has granted to BNP Paribas an overallotment option of up to USD$ 25 million exercisable up to the close of business on 16 October 2012 (the "Overallotment Option"). The Offering is being made by way of a Reg. S. Institutional Private Placement.'

Deadline today.

http://www.petroleum-economist.com/Article/3103864/News-and-Analysis-Archive/EXCLUSIVE-ExxonMobil-to-quit-West-Qurna-1.html