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.

TK finished in court,JG operations director now in box.


John Gerstenlauer said that Shaikan was "a rank wildcat in every sense of the word".

When asked "where on the spectrum from 1 to 10 would it be?" he replied...

..."about a 9.5"

So much for Excalibur's nonsense about a "home run" lol

And here's a good Q&A from close of play today:

GKP barrister: "what would have happened to GKP if Shaikan-1 had been a dry hole?"

John Gerstenlauer: "a price crash to a low level. The price would have plunged from the Placing level. The future of GKP would have been in serious jeopardy. We took that risk"

The SP is being shorted at present,off the back of the converable bonds which have been lent out.A no lose position,as they get their 6.5% whatever.The hedgers take the risk and if it flies as expected,sometime in the new yearthe they'll also profit. So until shorters have finished or such news (MOL on AB or OIP figures from SH)then the SP will flounder?
aimho

Talisman email E2A/1/527

GKP barrister: "Ian Franconi of Talisman Energy to John Gerstenlauer: 'we cannot proceed with a farm-in at Shaikan based on G&G data. There is a very real possibility that there is no structural closure on the Block".

then to 528, a PowerPoint presentation of their concerns: Shaikan as a small 4-way closure if any.

The Judge then asked a question.

John Gerstenlauer: "we look, my Lord, for a sealing structure, an analogue is an upside down elongated bowl. They looked for a 4-way closure with oil trapped all the way round. It was mountainous to the West. It indicated *no closure*. you have to go higher and higher up the dome, and you end up with a small or relatively small volume of oil".

Judge: "How do you decide closure?"

John: "Seismic. You look for bending of a non-permeable layer at the edge"

GKP barrister: "Hence they say a small resource volume"

John: "Yes, a function of a small closure"

GKP barrister: "They say 'oil has seeped to surface, therefore risk' and finally 'A one-shot wonder, with no running-room follow-up potential"

John: "We did 7 lines of seismic. There was no sign on the seismic of any fault lines and sealing. If you drill one bad result, you can't go elsewhere. If the 1st hole found no oil, the 'shot' is Shaikan-1.

http://gkpinvestor.proboards.com/index.cgi?board=analysis&action=display&thread=1724

Chilly chambers.
http://www.telegraph.co.uk/finance/comment/citydiary/9751558/City-Diary-BAE-comms-job-stays-under-the-radar.html

12:41
Re: Talabani in hospital- New Tweet
duffs55
James Herron ‏@djopec
Xinhua reports that Iraqi president Talabani has died of a stroke.

http://www.hurriyetdailynews.com/iraq-president-in-stable-condition-after-emergency.aspx?pageID=238&nid=37091&NewsCatID=352

Just came across this.

Interesting post from the AQP board regarding short-squeeze - would be nice to see one here!

-------

leblancleblanc 19 Dec'12 - 21:09 - 1465 of 1471 1 0

This recovery looks like a short-squeeze to me. Hedge funds with massive short positions are building increasing losses and under real pressure to close the short positions and have to buy back the shares they borrowed and sold.

Sophic have reduced their short position to 2.36% (from 2.9%) - and still have 11.16 million shares for them to buy back:

http://www.fsa.gov.uk/static/international/short-positions-daily-update.xls

Oxford Asset Management have 0.96% of AQP's stock sold short (4.54M shares) since 6th November and have mounting losses too.

These two funds have to buy back a volume of 15.7 million shares to close their positions! The longer they leave it while the share price is rising, the heavier the losses they will sustain... Traders, realising this, buy - sending the sp higher, increasing the pressure on the hedge funds to buy back the shares they sold short...

And, by the looks of things, they're the tip of the iceberg. According to SMD, on Dec 14th, 1/7th of the total stock of AQP was out on loan !

http://analytics.squaremiledata.com/tickers?search=AQP

Looks like there's a lot more buying yet to come... This has the makings of a short-squeeze of truly epic proportions...

For an example of how spectacularly wrong this can go wrong for hedge funds when massive shorts backfire:
http://news.bbc.co.uk/1/hi/business/7697082.stm

Anyone remember this ?

AQP is certainly going to be fun to watch in the coming days / wee

Court in recess until mid Ianuary.

RNS Baillie and Gifford below 5% may explain recent sp decline?

Glad I reduced my holding a while back, will be bottom fishing after xmas.,.

dirty boy! ... just make sure they're over the age of consent

Do not forget to get your picks in for the 2013 competition.

GKP is one of my 5 for 2013.

http://www.stockchallenge.co.uk/index.htm

.

my nose will be my Number One pick, with toe nails at Number Two!

http://tradingresearchpoint.co.uk/2012/12/24/gulf-keystone-gkp-2013-the-pivotal-year-time-to-buy/

.

Interesting, Thanks Proselenes.

goal: can you alter the your header,the charts are confusing(to much info). A simple chart will suffice,something like like post 3862.

.

niceonecyril, mnamreh, I hope you approve of the new header chart, the tree will be chopped down the first week of January.

goal.

strange little burst for glory at the close (176 per IG L2 platform), but that may prove to be a false level come the morning