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.

Post from rhe well respected Zengas,


Maybe some looking at the RNS in the wrong context.

What if the size of the flare/smoke is truly substantial - their word being substantial !

If you recall that many months ago and possibly not remembered by many on here - was that they thought this could be as big as, or another Kirkuk.

Remember when Baba Gurgur was discovered it gushed and lit up the place for miles.

Perhaps the flames/smoke are significant and that it really could be a more unusual sight than normal.

http://ftalphaville.ft.com/blog/2011/03/18/519271/sunrise-over-ebril/

This video should be in the header imo.

http://62.193.238.61/blueprinttv/gulf-keystone-petroleum/2011-01-14_video_01.php

Nice, but totally ruined by the sound balance.
Difficulty hearing the commentary through the music.
mac

listen to the music of the share price!

I'll second that!! kkkkkkkeeerrrrrrccchhhiiinnggg

i sold a big proptiotion of my holding to buy back which i did now what do - libya has destabised its region - what do you reckon sp up or down - i think up?

a little present
http://www.youtube.com/watch?v=L5YUCygMBiE

We should get the results(72hrs) from the latest RNS,which will decide?

A couple of days old but worth aread,followed by Fox's latest report.

A cGulf Keystone shares gush up 22% on Kurdistan oil hopes

Share3 Comments (0) Making a substantial oil discovery when the crude price is soaring is pretty much an ideal situation. Step forward Gulf Keystone Petroleum, which is exploring in the Kurdistan region of Iraq.

The company has revealed it found a significant flow of oil at the Shaikan-2 well, where it has a 75% working interest. It said:

Substantial smoke and/or the oil flare is/are visible from the company's office in Erbil some considerable distance from the Shaikan-2 location, indicating that a significant flow has been encountered and prompting hte company to issue this announcement.


It is conducting tests, which are expected to last for 72 hours, to determine flow rate and oil quality. But Gulf Keystone boss Todd Kozel said the oil flow confirmed its belief in the "world class nature" of the Shaikan discovery.

Investors are convinced too. Shares in Gulf Keystone - which some tip as a possible takeover target - have surged 22%, up 26.75p to 150.25p.

Analysts at Fox-Davies Capital said:


This is excellent news for Gulf Keystone although we have to wait for more data in order to be in a position to make a more definitive assessment. We are increasing our probability of success for the P50 case on Shaikan from 2/3 to 3/4 and raising our price target to 220p. We remain strong buyers of the stock, which has been weak for no specific reasons recently.


http://www.guardian.co.uk/business/marketforceslive/2011/mar/18/gulf-keystone-up-on-iraq-hopes



http://www.fox-davies.com/media/360203/fdcgkpmar182011.pdf

And from proactive.

http://www.proactiveinvestors.co.uk/companies/news/26467/gulf-keystone-shares-surge-as-shaikan-2-well-confirms-the-potential-of-the-block--26467.html

Shares in Gulf Keystone Petroleum (LON:GKP) jumped 24 per cent in a frenetic morning session after an encouraging update on progress at the Shaikan-2 well in the Kurdistan region of Iraq.

Above: Shaikan-2 smoke and oil flare are visible from the Company's office in Erbil some considerable distance from the Shaikan-2 location.

Based on the results from the initial Shaikan discovery an independent report was compiled. It put Shaikans oil in place resources at around 1.9 billion barrels and saw upside to 7.2 billion - in a P90 to P10 range.

Shaikan-1 tested five levels from 1,450 metres through to 2,850 metres - with a combined rate of more than 20,000 of oil barrels a day.

But Gulf Keystone had to stop drilling at the lowest levels because of a very high pressure zone that was above the tolerance of the well design.

Amd from dalesman,some excellent points.

To quote the Carpenters 'its only just begun'

Shaikan 2 has much yet to give up. It appears that the Sargalu is deeper than expected at SH2, we have the Alan Mus and Butmah still to come and the oil water contact may well be lower than expected adding greatly to the OIP figures.

This is only the start of the operations at SH2. The HPHT Triassic is next. Remember the gas kicks, the excellent flow rates and the high API oil recovered at SH1 before they had to shut it down. That process took three days to get under control such was the energy encountered in the Triassic.

SH2 has been designed to deal with these HTHP conditions. It will be the first time that the Triassic has been fully appraised in Kurdistan and the light API oil and excellent GOR will help to make the well even more commercial.

If I remember correctly an extra 5 billion was postulated for the Triassic, I have a feeling that this figure may turn out to be conservative. As well as light oil the Triassic has significant gas associated with it.

Todds foresight in joining with MOL will be fully recognised when the Nabucco pipeline is built. Mol owns 1/6th of the Nabucco project and will have priority access to it for its gas. Its gas is GKPs gas and while Heritage may find it more difficult to export its gas, GKP should be first in line.

Shaikan 2 will not stop at the Triassic. To date we have not heard of any sidetracks that could limit the casing strings and subsequently restrict the planned TD which lies in the Permian. The Permian lies below the Triassic and represents yet another frontier in terms of Kurdistan oil exploration.What I wonder has the Permian to offer to our OIP figures?

So 'its only just begun' let the thin lady sing!

God bless her soul

Kind regards

Dalesman

http://av.r.ftdata.co.uk/files/2011/03/SH-2-DST-1-96-64-choke-Sunrise-on-the-17th-March-2011-3.pdf


more exciting pictures which seem to be driving the SP, my 186p trade almost in profit??

Ho ho my ave, 44p lookin good.,.

YABA DABA DO!!!

22 March 2011

Gulf Keystone Petroleum Ltd. (AIM: GKP)

("Gulf Keystone" or "the Company")

Kurdistan Operational Update

Shaikan-2 Appraisal Well Test Results

Gulf Keystone is pleased to announce the results of the previously reported well test at the Shaikan-2 Appraisal Well drilled approximately nine km to the south-east of the Shaikan-1 discovery well.

Shaikan-2 has achieved short term, indicated rates of 10,144 barrels of oil per day (bopd) and a stabilised flow rate of 8,064 bopd of 26 degree API oil and 2.44 mmscf/d of gas (Gas Oil Ratio of 302 scf/bbl) on a 2" choke at a 250 psi flowing wellhead pressure. Given the Shaikan-2 well test conditions, as well as the successful well stimulations at Shaikan-1 & 3, the Company anticipates that sustained rates in excess of 10,000 bopd could also potentially be achievable at Shaikan-2.

The Shaikan-2 flow rates are consistent with the Shaikan-1 & 3 rates but with higher quality oil and more associated gas, both of which can lead to an enhanced recovery rate. The oil gravity of 26 degrees API is significantly better (lighter) than Shaikan-1 & 3, both of which are currently producing 18 degree API oil from the upper sections of the Jurassic at the Company's Extended Well Test facility.

The Shaikan-2 well test was conducted in a 44 meter interval (1792m to 1836m) in the upper section of the Jurassic age formation. Following this test, normal drilling operations will recommence and the Company anticipates that further Shaikan-2 drilling will follow the Shaikan-1 geological sequence, i.e. through multiple, potential Jurassic and Triassic reservoirs before reaching TD at the bottom of the Triassic or into the top of the Permian, depending on well results.

The Company has a 75 percent working interest in the Shaikan block and is partnered with the MOL subsidiary, Kalegran Ltd., and Texas Keystone Inc. which have the remaining 20 and 5 percent working interests respectively.

Todd F. Kozel, Gulf Keystone's Executive Chairman and Chief Executive Officer commented:

"We are extremely excited about the Shaikan-2 well test results, especially considering the potential implications of this successful nine kilometre step-out from the Shaikan-1 discovery well for the oil-in-place resource estimates. We eagerly anticipate further results from the continuing drilling program for this well."

surprised that market not more excited......glad to be holding.,.

Frustrating da,y connection problems.


http://www.iii.co.uk/articles/14816/gulf-keystone-excited-shaikan-2-test-results

From Iraq oil report;
Luaibi announces Nov bid round, export and production forecasts
Iraq's Oil Minister is pressing ahead with an auction of exploration blocks as the country gears up for big oil output increases amidst soaring oil prices.

http://www.investegate.co.uk/Article.aspx?id=201103250700086110D

Was hoping for news of SA-1 which spudded last Aug?