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.

16 September 2016

Gulf Keystone Petroleum Ltd. (LSE: GKP)
("Gulf Keystone", "GKP", or "the Company")

Results of the Open Offer
for up to 2,294,295,672 new common shares in the Company (the "Open Offer Shares")
at a price of 0.8314 pence per share, to raise up to US$25 million
The Company is pleased to announce the results of the Open Offer which closed for acceptances at 11.00 a.m. on 15 September 2016.

The Open Offer has been oversubscribed and valid acceptances have been received in respect of the entirety of the Open Offer Shares.

Qualifying Shareholders who have validly applied for Open Offer Shares will receive their full Open Offer Entitlement.

Applications under the Excess Entitlements Facility will be scaled back in accordance with the terms of the Open Offer.

The Open Offer is being conducted in connection with the Company's Balance Sheet Restructuring Transaction ("Restructuring") announced on 14 July 2016, and the Open Offer remains conditional on implementation of the Restructuring.

Subject to the implementation of the Restructuring, it is currently expected that admission and commencement of dealings in the New Common Shares will occur on or around 14 October.

This announcement should be read in conjunction with the full text of the prospectus published by the Company on 31 August (the "Prospectus"). All capitalised/defined terms in this announcement and not otherwise defined shall have meaning given to them in the Prospectus.

For further information visit the Restructuring microsite which can be accessed through the Company's website www.gulfkeystone.com.

2.26p +0.075p

Large volume already as much as yesterday on less than 3 hours trading.
A bit of recovery this morning despite a negative report on the mail......

How a Tory MP made £370k from oil firm Gulf Keystone with debts of £470m while small investors suffer share price crash.

Despite this lamentable state of affairs, a handful of men at the top of the business have been making large sums.
Intriguingly, they include Conservative MP Nadhim Zahawi, who before the Gulf Keystone debacle was probably best known as the multi-millionaire founder and former chief executive of online pollsters YouGov. .................

How-Tory-MP-s-370k-oil-firm-debts-470m-small-investors-suffer-share-price-crash

Share price lower again today.

the surprise is that the company is still afloat

1.27p - 0.08p

Some it seems were already selling them ahead of today's date on looking at the volume of the last 3 days ........

commencement of dealings in the New Common Shares will occur on or around 14 October.

Not Good..

Am I missing some thing if the total issued share capital of the Company now comprises 22,942,956,605 Common Shares, and the old M/Cap was about 15m before the Restructuring Transaction shouldn't the sp be about .0007p ?

how do you work it out? .. 0.007p

then I can tell you where you are wrong if so

mentor

22,942,956,605 X .0007 = £16060069

It was about that before Restructuring

The number of share before was less
and you have to add the open offer money and more some exchange of the bonds
Having less debt, means the company is in better shape


they raise up to US$25 million

mentor

Cheers I missed all that just a quick look in, I dont hold..

Still looks like the sp is a bit high.. IMO

My new price target is .0025

If it gets down to that I may have a few..

Got some a bit earlier this morning

Large volume since last Friday, as on that date the share price stop falling after 9am
Today after 8.30am the share start moving higher and so far the rise continues

DRIVER

re - 0.025

Get you head together, too much talk nonsense can do you damage
Placing at 0.8314p

Lol let's see where this goes.

TODAY'S GOING ON

Close......1.18
Open......1.19
High.......1.41
Low........1.17
Int Auc... 1.38


Auction....Bid..........Ask
1.38........zero.........zero . . . . . . Spread 1.38--------1.28
1.38........zero.........918,158 . . . 14,929,941 @ 1.38p on the Bid added 16.30pm
1.3..........zero.........16,848,099
1.33........zero.........15,848,099
1.33......752,200.....15,848,099
1.26.....1,670,200...15,848,099
1.28 . . . .Ditto
1.29 . . . .Ditto

LSE, 416,792,377
ATs, 183513,430
UT, 19,020,345
CP, 1.29p

1.32p +0.07p

After yesterday strong order book at the end of the day, this morning the share price is moving ahead with volume
-------------
my comment yesterday somewhere else - 24 Oct '16 - 16:20

GKP 1.25p =
after being weak till 20 minutes ago now is strong on the order book bid side with 57M at 1.24p, there was another of 40M at 1.22p

Depth 33
1.24p
57,972,596
15:54

Depth 30
1.22p
40,000,000

What a jolly nice increase !.......excellentee.....

If only! :o)

kimoldfield,
- it worries me when a Co thinks CONsolidation will fix their problems.
I read somewhere Dir had taken massive cash out of this . . . if true, there could be the issue.... the management of cash (to be kind), is rather loose... So,will this raising Cash + CONsolidation really effect a cure?

That's what LT investors really need to know....that their money in safe hands.
- (well I suppose it is!... in a private Vault somewhere! HO-HO-HO. . . )

I read this Co. is registered in Bermuda - Red-flag for me..FWIW....+ DYOR.

....Good Luck....

Cash- - see Post 5462,
Recent RNS suggests Consolidation was 100:1, but as others say, there was some other shuffling at the same time.... hope that's right. sp today ~135p.

hangon, it is in the lap of the oil gods as to whether or not this mixed up company survives, I would not like to bet either way! I sympathise with the shareholders who have lost out, including the consolidation as you so aptly put it. Consolidation is no better than theft really. There was more 'shuffling' to ensure the company had enough space to reach the consolidation stage. I had a few free shares so I bought enough to leave me with the mighty number of 10 shares, purely so that I can go to a meeting and cause havoc, though to be honest I probably would not be able to muster enough enthusiasm to attend! For the sake of many I hope the company does survive, though what value it will be I suspect will be minimal.