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.

I feel the way we are going we could see 1 by Dec/ Jan if not before.

B/O now93/96,going great,any views goal.

Well, when i said 1 by Dec/ Jan i was looking at the chart above (technical analysis) but we seam to be moving up quicker than i thought we would & might be 1 by the end of this week, dare i say. The sky's the limit for GKP,
we are in uncharted territory

I think the rise is currently due to the well currently being drilled (think it's GKS??) so wouldn't be surprised to see some profit taking. That said, brokers estimating NAV at 1.25 and with bigger reading in Investors Chronicle, perhaps a bigger following. Either way lots of news flow ahead and plenty of exploratory wells. I don't think we'll see a production licence from Algeria until later in the year - when oil prices are likely to be higher.

Morning Greyhound. i think so too, interestingly i notice that brokers have gkp as a strong buy. I feel quietly confident.

Goal - also understand that Evolution have upped their risk reward target from 2 to 2.95. A substantial find in GKS-2 in the next 1000m would be just the ticket!!

any particular reason for this?

No reason that i can see, i notice that the buys & sells are pretty much even.

goal , been across the other side - the only thing being said is some leaky news we are unaware of

Down 10p, unbelievable..I hope it's not a leak maddoctor, it could be the mm dropping the price for a buy order.

channel 4 , saying negative drilling news

.

Buyers coming in now.

Not a lot happing at the mo, i was expecting GKP to say somthing by now, may be it is just a rumor.

Drilling update announced

Gulf Keystone (AIM - GKP.L), an independent oil and gas exploration company operating in the Republic of Algeria, today announces a non-commercial well test on its GKS-3 appraisal well on Block 126A in Algeria. The well was drilled to 3,981 metres and tested but failed to produce hydrocarbons from the fractured limestone reservoir section.

Because of the complexity of the fractured carbonate reservoir, the company and its advisors had always assumed 50% drilling success rates. Consequently, these well results fit with previous economic and risk modelling and expectations, and the company does not perceive any negative economic impact on the reserves of the GKS field. Indeed, Gulf Keystone is optimistic about the GKS field which recently tested the discovery well GKS-2 at 4,586 barrels of oil per day and 4.61 million cubic feet of gas per day.

The company will now move the rig and equipment to the GRJ field located in the southeast of Block 126A to await the completion of the drilling of the GRJ-2 well and to test both the GRJ-1 and GRJ-2 wells.

Todd Kozel, CEO of Gulf Keystone Petroleum, said: "While this GKS-3 result is disappointing, we have begun the process of applying for a production licence for the GKS field following the successful testing of the GKS-2 well. The company will now be focusing on both moving the GKS structure into commercial production and drilling the GRJ-2 well and testing the GRJ-1 well."

Thanks Greyhound.

I don't actually think this is overly bad news and expect the price to come back a bit now.

It's the usual over reaction, i remain confident & think we will start to rise now.

The people that bought in at 70p this morning are already up 4.50p, well done to them.