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 think that may be old news .... there was a report 2/3 weeks ago that limited exports were to be permitted

Wow what a turn round.

from bloomberg.

Feb. 9 (Bloomberg) -- Iraq, holder of the worlds third- largest crude reserves, will resume oil exports from the northern Kurdish region soon after the Oil Ministry and the local administration agreed on a payment method.

The federal government instructed the State Oil Marketing Co. to resume exports of oil produced in the Kurdish region immediately, Oil Minister Hussain al-Shahristani told reporters today in Baghdad.

Iraq accepted a Kurdish proposal on payments to international producers working in the semi-autonomous region, al-Shahristani said without providing further details. The Kurdish Regional Government last month proposed that the central administration pay DNO International ASA and other producers in northern Iraq directly or for the revenue to pass through the Kurdish authorities.

DNO shares surged as much as 15 percent in Oslo trading after the announcement. A KRG spokesman wasnt immediately able to comment on an agreement with the government.

Companies like DNO and Genel Enerji AS halted oil exports from the semi-autonomous Kurdish region last year because there was no mechanism in place for payments to producers.

Exports from the Kurdish region had started flowing through federal government-run pipelines last year and revenue from the sales went to state coffers. Exports then halted amid a failure to agree on how revenue would be distributed.

Welcome back my Palestinian friend

Is not me but my twin brother

welcome back also to this board, TFC.
regards
jkd

not only that. at last week's presentation in london GKP CFO said that at their current drilling site thay ahve visible oil at surface as with their first strike hole

onwards & upwards gkp!

3 clowns are we
jkd

http://www.upstreamonline.com/live/article206020.ece

http://business.timesonline.co.uk/tol/business/markets/article7021200.ece

Iraq seeks strategic economic partnership with US

Aswat Al Iraq - [2/10/2010]



Iraqi Trade Ministry said on Tuesday that Iraq needs the U.S. as an investor and strategic partner to form a developed economy.

Iraq wants to expand its economic and trade relations with the U.S., the Ministry said in a release received by Aswat al-Iraq news agency.

It said that Iraq has the parameters to qualify as a strong and developed economy in the region.

.

indeed....

Iraq Offers Indian Refiners More Crude on Planned Output Gain


By Gaurav Singh and Rakteem Katakey



Feb. 10 (Bloomberg) -- Iraq is offering to supply more crude oil to Indian refiners on long-term contracts as the Middle Eastern country boosts output.

Iraq is offering to increase crude sales to India by as much as 60 percent, said an oil ministry official who was at the meeting between Indias Oil Minister Murli Deora and Iraqs Industry and Minerals Minister Fawzi Hariri in New Delhi today. Indian Oil Corp., the nations second-biggest refiner, currently buys about 11 metric million tons, or about 220,000 barrels a day, of Iraqi crude, Chairman Sarthak Behuria said.

They have the reserves and they have plans to raise output significantly, said Behuria, who was present at the meeting between the two ministers today. They told us they would be ready to offer us longer contracts after five years.

http://www.bloomberg.com/apps/news?pid=20601207&sid=aY81m6Beg1WQ

That's Algeria out of the way...very positive that....

Business Financial Newswire
Gulf Keystone has concluded a settlement agreement with BG on the Hassi Ba Hamou project in Algeria.

GKP said the agreement settles, on confidential terms, the claims and counterclaims between the parties.

The agreement provides for the immediate stay of the arbitration and the proposed transfer of Gulf Keystone's interests in the Hassi Ba Hamou permit for a net cash payment from BG of $9.9m.

The agreement is subject to the conclusion of separate transfer documentation which will require the approval of Sonatrach and any necessary Algerian governmental authorities.

Gulf Keystone said that while it was confident that the necessary approvals would be forthcoming, there was no guarantee this would be the case.

Executive chairman Todd Kozel said: "We welcome the agreement with BG which is a significant step in the strategic refocusing of the Company's activities in Kurdistan.

"Following this transaction, we hope that further announcements will be made with respect to the orderly disposal of the Company's other interests in Algeria."

I think that most people have forgotten that Gulfkeystone are drilling as we speak (this time 25% owned) and there could be a tremendous update in the pipeline...we are a long way from the 120p of a few months ago and that's without crude being $10 more than before and their latest well is getting closer and closer near target depth, remember, last time they had a strike on the way down....so a sharp upward surge might be on the cards again with good support around this level...

by the end of april we might see some production

A little, probably with lorries.....at the moment they are still exploring.....enormous work to be done with pumping facilities for main production etc...but if and when they do : the revenue will be fantastic....

Need the contracts to be sorted for this to be placed where it should be imo.