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.

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July 7

Recently, the two sides have moved to patch up their differences.

Kurdish ministers and MPs ended a boycott of the cabinet and the parliament in May, which was begun in March over objections that the new federal budget did not allocate enough money to pay foreign oil companies working in the region.


In June, Maliki chaired a landmark cabinet session in Arbil, the capital of the autonomous Kurdistan region, and the two sides agreed to form joint committees to deal with disputes.

Kurdistan's deputy prime minister Emad Ahmed said in a statement on the region's official website that Barzani's visit was a follow-up to Maliki's trip to Arbil.

Barzani was to be accompanied by Ahmed, as well as the ministers in charge of natural resources and the Kurdish peshmerga security forces, the statement said.


Read more: http://www.foxnews.com/world/2013/07/07/iraqi-kurdistan-chief-on-rare-visit-to-baghdad/#ixzz2YNwhIcju

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A lot to do with the KRG now having it's own pipeline imo,nice to know rhat GKP will be allowed to link up to it.

http://www.investegate.co.uk/gulf-keystone-petrol--gkp-/rns/response-to-m-g-recovery-fund-statement/201307080700077629I/

NS Number : 9642I

Gulf Keystone Petroleum Ltd.

10 July 2013

Not for release, publication or distribution in or into the United States or jurisdictions other than the United Kingdom and Bermuda where to do so would constitute a contravention of the relevant laws of such jurisdiction.

10 July 2013

Gulf Keystone Petroleum Ltd. (AIM: GKP)

("Gulf Keystone" or "the Company")

Spudding of Shaikan-10 Development Well

Gulf Keystone, a leading independent E&P operator in the Kurdistan Region of Iraq, is pleased to announce that further to the approval of the Field Development Plan for the Shaikan field, a world class commercial discovery, announced on 26 June 2013, the Company has commenced its development drilling programme with the spudding of Shaikan-10. In parallel, production operations from the newly commissioned Shaikan production facility ("PF-1") are scheduled to commence shortly.

Shaikan-10 to launch aggressive development drilling campaign

Shaikan-10, the Company's first development well, spudded on 5 July 2013, launching a development drilling campaign as part of the approved phased development of the Shaikan field, which Gulf Keystone operates. The well is being drilled with the Weatherford 842 rig, which previously drilled Shaikan-8, also part of the agreed phased development. This rig also drilled the Shaikan-1 discovery well in 2009 and the Bijell-1 discovery well in 2010.

Shaikan-10 will be followed by a minimum 3-rig development and production drilling programme, which will commence in early 2014.

Shaikan-10 is intended to become a production well and is to be tied to the second Shaikan production facility ("PF-2"), which is currently under construction. Analogous to PF-1, it is of modular design and its production capacity will be of 20,000 barrels of oil per day ("bopd"). Shaikan-2 and -5, already completed as production wells, will also be tied to PF-2.

PF-1, which has now been completed and commissioned, when combined with PF-2 later in the year, will allow the Company to achieve its immediate short-term production target of 40,000 bopd.

Commenting on today's announcement, John Gerstenlauer, Chief Operating Officer, said:

"It is a recognised fact that Gulf Keystone has done outstanding work during the exploration phase and we continue targeting significant exploration upside of the Shaikan field with Shaikan-7, which is currently being drilled.

Our next immediate target is to complete the Company's transition from an exploration to a key producer in the Kurdistan Region in 2013. The spudding of Shaikan-10 is yet another step in the right direction.

The implementation of our Field Development Plan has started and we will shortly commence production from one of the world's largest onshore conventional oil & gas developments. Focusing on our production milestones agreed with the Ministry of Natural Resources, we are working hard to get to 40,000 bopd of Shaikan production from PF-1 and PF-2, and then to progress to 150,000 bopd within 3 years and 250,000 bopd within 5 years."

Watch John Gerstenlauer's introduction to the Shaikan Field Development Plan at:

Gulf Keystone-Moving to development

Enquiries:

A post from a rig worker.


RNS states that PF1 is commissionED - That means it works and handed over to operations. The fault finding is done and ready to go.

Not sure exactly the facility details but is it a case of waiting for oil through the system / truck filling / storage?

Good news
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We are a little nearer to production at ,ong last.

http://www.investegate.co.uk/gulf-keystone-petrol--gkp-/rns/notice-of-additional-agm-resolution/201307101000010028J/

noc not very informative M&G looking to appoint 4 directors, trouble brewing?

when a largish investor like M&G proposes a resolution to appoint four new directors there has to be good reason.

Agreed and TK's package(which does appear excessive) is one of the issues,it seems the
terms were set prior to the sucess of Shaiken(13billion OIP).As to the suitability of the candiates,it's over my head.
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An interesting post,



Blog from Malcolm Graham-Wood


Gulf Keystone Petroleum

The news just keeps on coming for GKP and I still haven’t caught up with the news when I was away. Today sees the spudding of the Shaikan-10 Development well which I visited last month. The site has been extensively cleared and even a road built to facilitate access in the mountainous region that it occupies, giving space for a three/four rig, multi development and production programme.

The oil from here will go to the PF-2 production facility when it is complete, along with oil from Shaikan-2 and -5 which will be tied in to the facility. A word about the production facilities, PF-1 is ready and up and running, now with field development approval it should be able to produce its target of 20,000 b/d maybe more, before long, as for PF-2, I saw that too, and construction is well under way and its capacity is similar to the first one.


The next month or so is going to be pretty crucial for GKP, the AGM on the 25th of July may be lively with a slate of directors possibly changing the make-up of the board, proposed by M&G and supported by Capital. On the 23rd of August we should hear the result of the Excalibur court case which has held back the share price for some time now, interestingly although the shares have had a good run lately and there will be manic days to come, there is potential for much more upside should things go ok for the company.

you should be much more worried if the likes of M&G were jumping ship

RNS Number : 0384J

Gulf Keystone Petroleum Ltd.

10 July 2013

Not for release, publication or distribution in or into the United States or jurisdictions other than the United Kingdom and Bermuda where to do so would constitute a contravention of the relevant laws of such jurisdiction.

10 July 2013

Gulf Keystone Petroleum Ltd. (AIM: GKP)

("Gulf Keystone" or "the Company")

Meeting with M&G and update on timing of the Board's recommendation

Gulf Keystone is pleased to announce that senior representatives of the M&G Recovery Fund ("M&G") have agreed to meet with members of the Company's Nominations Committee, on the afternoon of Friday 12 July 2013, to discuss the four candidates proposed by M&G as directors (the "Proposed Directors"). Simon Murray, the Company's Independent Non-Executive Chairman, will lead the meeting on behalf of Gulf Keystone.

In light of this welcome development, the board of Gulf Keystone (the "Board") has, in the best interests of the Company's shareholders ("Shareholders"), decided to delay publication of its RNS and circular, recommending to Shareholders what action to take with regard to the Proposed Directors, pending the outcome of the meeting with M&G.

The Company will update Shareholders following the meeting with M&G, and by no later than close of business on Monday 15 July 2013, which will still give sufficient time for all Shareholders to review the Board's recommendation and vote accordingly.

In the meantime, the Board continues to strongly urge all Shareholders not to vote, or fill in their Forms of Proxy, until they have reviewed the Board's recommendation on the Proposed Directors.

Enquiries:

cynic to dump or not to dump that is the question?

personally not ....... i think the odds are in favour of GKP winning their court action, and once that is out of the way, then there could be a lot of fun and games .... unless TK is the alter ego of Frank Timmis, then certainly the company looks to be sitting on an awful lot of oil

cynic don't remind us of frank bad vibes, M&G are obviously not happy with the way the company is being run, perhaps they are afraid the court case may be "lost". Todz share sale seems to have set off a few alarm bells.

if M&G were that alarmed, they would have sold, but they are right that TK needs to be kept under control, especially when it comes to self-benefit

cynic they should know about his record in Algeria which was somewhat less than brilliant.

nevertheless, unless you think this shaikan field story is a complete fabrication and web of lies ......

cynic it is interesting to note a number of oilies have pulled out of kurdistan

hali - i've told you where i stand ...... you don't have to agree and are perfectly at liberty to sell your holding ..... it's called freedom of choice!

cynic it is a question of keeping up with events.... dear boy!

so keep up with them and make up your own mind
for myself,dear boy, i'm more than happy with my decision