Gulf Keystone Petroleum Share Discussion Threads

[broadford bay] 13/2/2019 13:58

I am truly shocked at the level of comprehension displayed here and on other BBs.

For example, Genel have just published new Reserves numbers for Taq Taq:

End-2017
P1 = 22.8MMbbl
Production 4.5MMbbl
Tech Revisions 2.8MMbbl
So, end-2018 P1 of 21.1MMbbl

They very cleverly inserted a sentence, however, and one that many appear to have latched onto, namely: “ …..has led to an upwards technical revision of reserves, resulting in a 62% reserves replacement at the 1P level.”.

Their reserves have NOT increased by 62%.

Truly shocking – but still, it does sound better than “...have risen by 5% or 12%.”. Misleading to the power ten!

Ah…, the English language being misused yet again.

London, the Financial Capital of the World, aka The Sewer.

[bigdog5] 13/2/2019 13:51

Here's a good post for those with johnyboy on the remedial table. You're welcome.

cutthecagain
16 Jul '16 - 11:29 - 503901 of 579662
0   9  0
A rough calc

If you hold 100,000 shares you'd need to buy a further 1,900,000 to protect yourself from dilution.

Even if you could buy all of those shares at 0.0089p

For every 100,000 shares held, You'd need to cough up £16,910 to avoid dilution

(Few edits there, the decimals we're looking at now are beyond comprehension)

[bigdog5] 13/2/2019 13:36

Still no news on the easy, cheap and fast workover then. If they can't achieve such a simple task what does that mean for all the hype? Lots of selling today, perhaps the reality has kicked in.

It doesn't appear that pensioner has realised he's got to divide all those shares he originally had, all the shares he bought in the OO have to be divided by 100. Another with an average of £20.

[beernut] 13/2/2019 13:25

Genel full year results on 20 March. When are our results due. Maybe announced by CNPC next year.

[nestoframpers] 13/2/2019 13:20

Shaikan will produce for 100 years , there is a massive pipeline going to it , we are been kept in the dark.To that add POO over $200 a bll it is coming , the next 5 years IMO.

[beernut] 13/2/2019 13:20

Taq Taq Oil Reserves Update
13th February 2019 in Iraq Oil & Gas News
Genel Energy has announced that McDaniel and Associates (‘McDanielR17;) has completed the competent person’s report (‘CPR’) relating to the oil reserves at Taq Taq as at 31 December 2018.

Field performance in 2018, and notably the success of the TT-29w well drilled on the northern flank of the field, has led to an upwards technical revision of reserves, resulting in a 62% reserves replacement at the 1P level.

This revision does not take into account the recent positive results from the TT-32 well, which completed in 2019 and is currently adding over 3,000 bopd to field production.

Drilling in 2019 is targeting opportunities on the flanks of the field, with the TT-20z well nearing completion and three others then to follow. Should the wellsi match the performance of TT-29w and TT-32, Taq Taq could deliver a significant year-on-year production increase, with room for further growth in 2020.


The Company expects to announce CPR reports for other assets in the portfolio prior to the announcement of full-year results on 20 March 2019.

(Source: Genel Energy)

[0ili0] 13/2/2019 13:19

Is this being worked to fill another big 1m order?!?!

[gkphero] 13/2/2019 13:14

A whisper told me that GKP is sold and the price is £75 per share.

[pensioner2] 13/2/2019 13:09

Just imagine, Bigdog, if you'd bought 1.1m after the close yesterday @ 209.5p what angst you'd be feeling now @ 204.5p? Or, maybe not, if you knew a much bigger payday was coming.

[gkp_banggone] 13/2/2019 13:06

Xxxxxx😀From IR 16th January 2019:-"GKP now has an 80% working interest in Shaikan, as per the Shaikan PSC executed in 2007. Discussions which could lead to a PSC amendment continue and GKP will inform the market in due course. As previously communicated, if the PSC is amended, it is expected to be at least neutral to the company."=====+The 58% is therefore not valid , and the company clearly communicated this change, and have said 80% in the most recent presentation, and if there was to be any PSC change it would be value neutral to them at worst..So a FDP signature would take 80% of current 2C into 2P , meaning at worst case reserves are 800m 2P.Peel Hunt continue to use the invalid 58% figure in generating a core NAV, and I understand the BOD have been clearly advised that this continued misrepresentation needs immediate correction.We will see either a major JV or a sale, as it is simply not credible that almost 3 years have elapsed in negotiations an evolved PSC.I found the presentation very disappointing, as it did not address any key commercial matters of interest.Perhaps this is understandable however. Jon Ferrier was clearly discomforted when the issue of Chinese analysis was raised. Perhaps that was understandable too!

[gkp_banggone] 13/2/2019 13:06

#GKP #GulfKeystone #takeoverAs we wait for imminent sale RNSThink!! ðŸ¤"CNPC is 4th largest corporation in world current reserves are 3.7bnBuying Gkp increases by minimum +20%Have any idea just how valuable that makes this acquisition?😀How much they'd pay to win GKP?

[bigdog5] 13/2/2019 13:05

Speaks volumes that JF was looking elsewhere for assets.

Loads of selling today I note.

[nestoframpers] 13/2/2019 11:46

''not to mention their lies and duplicity.''

[gkp_banggone] 13/2/2019 11:42

😀From IR 16th January 2019:-"GKP now has an 80% working interest in Shaikan, as per the Shaikan PSC executed in 2007. Discussions which could lead to a PSC amendment continue and GKP will inform the market in due course. As previously communicated, if the PSC is amended, it is expected to be at least neutral to the company."=====+The 58% is therefore not valid , and the company clearly communicated this change, and have said 80% in the most recent presentation, and if there was to be any PSC change it would be value neutral to them at worst..So a FDP signature would take 80% of current 2C into 2P , meaning at worst case reserves are 800m 2P.Peel Hunt continue to use the invalid 58% figure in generating a core NAV, and I understand the BOD have been clearly advised that this continued misrepresentation needs immediate correction.We will see either a major JV or a sale, as it is simply not credible that almost 3 years have elapsed in negotiations an evolved PSC.I found the presentation very disappointing, as it did not address any key commercial matters of interest.Perhaps this is understandable however. Jon Ferrier was clearly discomforted when the issue of Chinese analysis was raised. Perhaps that was understandable too!