Gulf Keystone Petroleum Share Discussion Threads

[chinese_takeaway] 26/9/2019 13:02

Yes Urals he's leaving very much on "good leaver terms" as the project is finished.Restructuring, caretaker whilst Perella marketed ,and sold it.

[stockport loser] 26/9/2019 12:46

So are we saying sold by Xmas? 2012,13,14,15,16,17,18.......???

[chinese_takeaway] 26/9/2019 12:12

Urals I'd expect off mkt buyback around 65-70m just prior sale at around $2.8-3.00 paid per share soaking up about $200m of enormous cash hroom , concentrating equity remaining 40% plus

[urals] 26/9/2019 12:00

Sami leaves no later Dec 2, sale will complete before then, almost certainly by scheme of arrangement (a procedure that makes for certainty for buyers) takes 8-10weeks typically, so announcement will be within next couple of weeks.

[officerdigby] 26/9/2019 11:30

NB we are talking about $0.0046 lost per shares today. $1m 'saved'

Tricky one as the exact amount of shares in treasury on the day of dvidend issue will be what ever it is on that day in October.

So possibly you can only correct the dividend (if you want to) on the issue day.

Personaly I couldn't care less if the company has bought the shares then why not just 'cancel' that part of the distribution.

[chinese_takeaway] 26/9/2019 11:27

HabshanThe error in dividend calculated means Lansdowne lose $120,000 Sothic near enough the same ....Their is method amongst all this nonsense for sure , as we will shortly discover IMO

[urals] 26/9/2019 10:54

Indeed Chinese, listen to the Company's official statements!Without an imminent SALE they definitely can't VEST for years, hence couldn't be required. " however the company will only hold Shares in TREASURY to satisfy the VESTING of staff share option plans, and if they are not required for this they will be cancelled.Once they have sufficient ( few days or so more ), it's Sold RNS :) but hopefully an off mkt concentrative buyback RNS preceeds that.

[chinese_takeaway] 26/9/2019 10:51

Urals, Chairman could hardly be clearer!" however the company will only hold Shares in TREASURY to satisfy the VESTING of staff share option plans, and if they are not required for this they will be cancelled.Once they have sufficient ( few days or so more ), it's Sold RNS :) but hopefully an off mkt concentrative buyback RNS preceeds that.

[stockport loser] 26/9/2019 10:50

Did they mention the impending takeover at all????

[urals] 26/9/2019 10:35

Bermuda corporate lawA company holding shares as TREASURY shares can, HOWEVER , in respect of those shares, make an allotment of shares as fully paid bonus shares or PAY ANY AMOUNT PAYABLE ble on the REDEMPTION of the shares (if they are also redeemable shares) (e.g. in connection with EMPLOYEES SHARE OPTION PLANS or SHARE DIVIDENDS).

[nestoframpers] 26/9/2019 08:59

Good RNS at HDD today .

[urals] 26/9/2019 08:16

From lse: correct"From Mark Antelme. "Thanks for the call just now. The figures in the RNS of 20 Sept are correct, and take into account the recent buy back activity. The treasury shares are included for the calculation, but the treasury shares are not paid. As ever, the calculation was done in conjunction with Computershare and we are satisfied it is correct.""Big problem with argument IMO.The companies has RNSd a total dividend this year of no less than $25 million plus a special one of $25 million - hence a MINIMUM of $50 million.The total returned to shareholders using their methodology results in less than $50 million, so they are in breach of their own RNS."

[urals] 26/9/2019 08:13

Captain Antelme is wrong, and the company would be breaking corporate law effectively Either the divisor for 33,333,333 should have been reduced from 229,429,566 by those in Treasury on 20/9,and the Div increased, or at that date, under Bermuda corporate law the treasury shares could have been allocated " fully paid bonus shares status" if they were to be redeemed into employee share schemes. In any event all of these shares must be required shortly to vest, or be cancelled, Chairman words, not mine which =change of control.

[guypender] 26/9/2019 07:22

Excellent post BB

[bigdog5] 26/9/2019 00:02

No one should be the least bit surprised that yet another of the Chinese/Urals/1712/111notout/TRM gang's theories has come to zero. Perhaps even the desperately desperate will now wake up to the fact that he makes everything up.

Thanks BB nice explanation/theory there. But I would suggest you need to factor in something much less technical and more obvious as to the reasons.

That was nice of habby to contact the company wasn't it. Its a good job sheddy wasn't tasked with the job as by now he could have posted up that there were 27 interested parties looking over the data and were considering a Xom like mull:-)

And it wouldn't have been any effort, hot lines to all the relevant people on speed dial no doubt:-)

2p to be breached as production at PF2 ceases?

[officerdigby] 25/9/2019 22:11

Basically the Company has saved a few shekels. Not paying out on buy back shares
Big chuffing deal And CT and all his avatars and countless others have bought into his latest conspiracy theory.


What an idiot the chap is!

[nestoframpers] 25/9/2019 22:06

Not everyone has that app , C&P it please.

[limmershin] 25/9/2019 21:57

Have a look at this interesting article - draw your own conclusion!
L
hxxps://apple.news/AVyixnJ5QRPG-2DsejABH9g

[0ili0] 25/9/2019 19:32

Thanks for the clarification.

[habshan] 25/9/2019 18:50

beernut - "Can anyone else ring investor relations and see if we can get anymore info."

From Mark Antelme.

"Thanks for the call just now.

The figures in the RNS of 20 Sept are correct, and take into account the recent buy back activity. The treasury shares are included for the calculation, but the treasury shares are not paid. As ever, the calculation was done in conjunction with Computershare and we are satisfied it is correct."

[angina] 25/9/2019 17:45

If we ever get over £20 I'll be over the Ramadan Moon. 100/150 may be a bit ott.

[urals] 25/9/2019 17:23

Beernut, The whole dividend roll out has been farcical2 record dates?2 tranchesAnd now all the confusion as they say by RNS they are paying every share although, they also have 6m plus in treasury they can't pay.Unless those share vest to employees out of treasury before next 4/10!! There is obviously method in this madness I believe the company is SOLDTo be confirmed shortly

[broadford bay] 25/9/2019 17:20

Hi bigdog,

I see the issue of ESPs has come to the fore, yet again. Yawn...

If it's any help, here is my opinion:

I believe the company made mistakes in the ordering of the ESPs and has been forced to revise their Design / Order parameters for same.
I believe the results from the recently re-tubed wells contributed to that re-evaluation, in that the GOR needed to be taken into account and that in some of the wells the bubble point was being approached.

Note what the CPR from ERCE stated: "However, there is uncertainty in the PVT analysis where the bubble point measurements range from 1,570 psia to 1,907 psia".

If you look at the Pressure graphs submitted with the 2018 FY Results (Wells SH-1 thru -5, and SH-7/-8, -10 and -11), you will see that the BP was approaching fast for some wells. Considering that 18 months or so have now passed this this data was graphed, you can be sure that the BP has indeed been reached for some,

In itself, that is not the end of the story.
It does mean, however, that the considered ESP now has to contend with a very different flow situation - instead of pumping just oil (single-phase flow), albeit with gas in solution, the ESP now has to contend with oil and gas that has actually come out of solution; this is known as dual-phase flow.

Moving from single- to dual-phase flow changes completely the design parameters for the ESP Pump String (the pump has associated elements that are equally important to its performance as is the pumping part).
Furthermore, and irrespective of the gas / bubble point issue, the design for handling crude oil at API=12 will be different than for crude at API=17 (flow & power targets).

Note too what the company said in its opening remarks to the 2018 Annual Report:
"Production since 31 December 2016 of 24 MMstb has been stable with no water or
gas breakthrough at the wells.
Measured pressure decline during this time has been seen to flatten. This is a positive indication of additional pressure support, that is believed to be coming from the formation of a secondary gas cap AS THE PRESSURE GOES BELOW THE OIL'S BUBBLE POINT". (CAPS are mine)

As I indicated, it's not the end of the world, but I do believe the company has decided to delay installation (for some wells) to enable more pressure decline data to be collated, enabling them to place the ESPs more effectively. I would particularly like to know what API density the #12 well flowed.

My view, all of it.