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.

Gazprom are pulling out of Kurdistan...................

http://rt.com/business/news/gazprom-kurdistan-oil-plans-092/

Gazprom and Gazprom Neft have not denied this statement from the Iraqi ministry.

All there has been is some un-named "source" who claimed its not true in some western media.
.

so P, you are saying that reuters story is less than economical with the truth then .... you think that the iraqi oil ministry is more likely to give a correct version perhaps?

Proselenes.....arz youz sim kind of Bond Agent.?....but like ez doubles agent ?...

Posted on GENL,but also concerns GKP.


TH gave a lecture tonight at a posh school here is a report about it from iii

23:47
Re: first gkp mini meet
onlookout
1

Yep, was good meeting up - a really enthusiastic group (as you might expect) and a pleasure to meet you all.

It was a 1/2 hr lecture with 1/2 hr of Q/A's, so we were somewhat limited to what questions we could pitch, especially given it was a mix of school/general public and not Pi centric. After the first Iraq specific question he did say 'ah, we have some people that know about oil here'

Interestingly he did mention Kurd independence when he first touched on Iraq, but then backtracked and clarified he didn't mean independence......and this was before he knew their were PI's in the audience. He did joke about someone from Bloomberg or Reuters being in the audience, but didn't realize that exposure to the GKP/BB would probably be worse!

As Claws mentioned, one question we DID get to him was a view on how the KRG/Bagdad thing would pan out, with the answer that Iraq would probably end up splitting up into its different sects. He answered without any hesitation, as though he really believed this view.

After the finish he had a few hangers-on in his vicinity - plus the entire 14-ish GKP/BB entourage! On congratulating him about his talk, and the lighthearted suggestion that some of our GKP proceeds would probably be coming to Genel, he suggested GKP had probably reached close to its valuation at £2.25. My interpretation at this point was that he simply couldn't have the conversation!

Please feel free to correct/add to anything I've said.

">

http://www.iraqoilreport.com/daily-brief/kurdish-pm-barzani-to-visit-moscow-9082/

Exactly cyril, read the full news article :

http://www.ekurd.net/mismas/articles/misc2012/10/state6574.htm

Iraqi Kurdistan president Massoud Barzani to visit Russia next month 21.10.2012
By Ekurd.net staff writers


ERBIL-Hewlêr, Kurdistan region 'Iraq', — The president of Iraq's autonomous Kurdistan region, Massoud Barzani will officially visit Russia in November next, as reported by the statement of the regional government in Erbil.

The statement added that the visit comes by an official invitation by Russian President Vladimir Putin, "but has nothing with Premier Nouri l-Maliki's late visit to Moscow".

Iraqi premier Maliki visited Moscow at the beginning of this month, where military contracts were signed with an amount of more than 4 billion dollars.

In the Czech Republic, Maliki made an additional purchase of 28 L-159 jets for $1 billion.

Some of Iraq's neighbors and the Kurdish president Massoud Barzani, have said they are worried about Baghdad acquiring the jets.

"I feel Kurdistan's future is in severe danger because of (Maliki)," Barzani said in April 2012. "F-16 (jets) should not reach the hands of this man (Maliki)."

Barzani alleged that Maliki had discussed using F-16s against Kurdistan during a meeting with military officers.

"During a military meeting, they talked about problems between Baghdad and Erbil ," Barzani said.

"They told him, 'Sir, just give us the authority, and we would kick them out of Erbil ,'" Barzani said. "And (Maliki) answered: 'Wait until the arrival of the F-16.'"

The central government and the Kurdish region have long-running disputes over political autonomy, oil rights and contested territories.


Sources: Ekurd.net | Reuters | aswataliraq.info | Agencies

Copyright © 2012 Ekurd.net. All rights reserved

http://www.thetimes.co.uk/tto/business/markets/article3576331.ece

Rumours persisted that Gulf Keystone Petroleum would soon settle a legal claim on an asset. The share price did not seem to agree, as the oil explorer in the Kurdish region of Iraq dipped 2½p to 199¾p.

Court Report from iii (imitch37)

Hi all,
As usual, please check with other posters to verify.
Firstly, the two men from yesterday were back again. One of them was on his blackberry all the time.
1. EXC. Claimed that a LETTER OF ACKNOWLEDGEMENT from GKP was not given to them and therefore obstructed EXC. From obtaining finance from investors.
GKP lawyer stated that there was no obligation on GKP’s part to give one. For EXC. To have any remote chance of having or raising finance, they had to be a signatory to the PSC, they were not. As for indirect interest of EXC. In the PSC, this was not viable. According to acceptable expert opinion in matters of raising funds, a direct shareholding by EXC. In the PSC was needed.
2. GKP lawyer said that The normal course of action for raising finance is direct investment>>NDA>>Letter of acknowledgment>> raising finance. EXC. Did not do that
3. In any case, there was no documented proof that any investor asking for this letter, it was said in an email exchange by the brothers that they wanted the letter for future to boost their track record in being involved in a big deal
4. The fact that EXC. Asked for an indirect interest with a lack of clear definition of specific performance and no clear proposal showed that the did not know what they wanted
5. They were implying at least six types of indirect interest which was impossible to deal with in practice. None of the six proposed was asked for specifically
6. Correspondence shoed that EXC. refused to pay signature fees, wanted postponement and wanted GKP to carry them. Even if GKP offered negotiations, time and other obvious factors were not on their side
7. EXC. Chose to exit from the SHK PSC some 90 days after PSC was signed and fees paid by GKP
8. EXC. Could not even produce a credible TEASER (business plan summary) to prove their ability to any of their alleged funders
9. In one of their correspondence to an investor, EXC. Claimed that they had a unique opportunity alongside 3 international companies (MOL, GKP and TKI) for an ownership of 10% for $40M. This shows that EXC. Did not understand their own position at best
10. It is obvious that indirect investment is less enticing to investors than direct interest. Lack of indirect interest was not the main reason for the inability of EXC. To raise finance
11. EXC. Expert advisor who advised them on raising finance was later shown that he was not an expert on raising private equity finance issues and was later replaced by a more experienced advisor
12. GKP provided an old fashioned document summarising the chronological order of events and correspondence to the surprise of EXC’s QC, he said he might produce something
13. GKP and TKI have received recent letters at their request that have relevant information which they intend to use
14. Cross examination might start as early as next Monday if the Judge is ready
We were asked to behave in court when the cross examination starts, anyone who is coming in the next 2-3 weeks, please take note of that advice. We need to be at our best behaviour

Sorry for any grammar, punctuation or spelling mistakes made.

Regards

#12 causes me some amusement .... i always thought that was a basic to provide to one's lawyers to spare them a lot of time and effort in sifting through every document

Why is everyone so excited over the court case ? Means not a lot, nothing is in the price for a poor outcome, so why are the rampers saying the price will rise on a good outcome.

The problems of Kurdistan is that the recovery rate is very low, tax is super high, additional KRG tax is high and GKP have a small percentage of the OIP (which is much less when you put the recovery rate in).

Now Iraqis are getting planes and weapons its looking even more high risk............ no surprise people are selling really.

P - at times you really do post like haystack on the gaza thread thus seriously devaluing any valid point you may be trying to raise or discuss

the court case is important insofar as it is unsettling and markets do not like uncertainty ..... if the court finds in favour of GKP - looks the more likely result to me - then assuredly sp will rise and take some reflection from the performance of GENL

so tell us all as a corollary to your logic, why are people not piling into fogl, which is static at best - now 60.75 mid?

Why should anyone pile into FOGL now ?

They are roughly just under 4 weeks to getting to TD, so why buy today ? I have, just snatched a load on this mornings recent drop, but why should anyone else ?

similar argument surrounds GKP's court case then; rather as i said

I've fust twigged why P's post was not sqelched,seems it only happens whan logged on? He has been warned on another board about his posts,changed his track,agenda stillthe same.
CC has been suspende until next week,to allow judge to study the witnesses statements?

On iii from leithlyj

For some explicable reason the people who went to court (to the best of my knowledge) have not told you something fairly important.

Mr Singer the backer of Excalibur has flown in from America, is now present in court and has been since Monday.

Why this is not public knowledge is beyond my understanding but there you go, its out there.

Now why might he be there? Well either he has something he can add to the pot or the case is going so against him he is trying to save himself money and possibly even his reputation.

Anyway that's all for now.

Their are those who disagree with the above post?

Cyril, you need to see the big picture. In my opinion you are getting bogged down in all the peripheral rubbish and the hypothetical reasons as to why,,,etc etc. Next you will be questioning why the water bottles on the court tables carry a Ukranian label.

It's the beginning of a slide now.

Hlyeo...you're doing your diva act again !...

quite so ..... shortie and mj at least support their view with some reasoning