Gulf Keystone Petroleum Share Discussion Threads

[0ili0] 26/9/2019 21:50

Harry Caper would not approve of Sarah Cusick's attitude. Harry doesn't like trolls.

[welshki] 26/9/2019 21:26

Loser........I see u didn't want to take up my challenge of yesterday and post something resembling a fact or the truth.......I'm truly shocked, lolAnd your latest post........what's ur point? Those 3 mentioned are the same people, you're stupid but not that stupid u can't see that, right?So who is David? Is that me? Wasn't I bob yesterday?

[mcfly02] 26/9/2019 21:22

Gosh it's fun down the estate when the family get together and shout at your windows.

Dave, why don't you just stick to one name ???

[frenchybannedme] 26/9/2019 21:09

Gosh it's fun down the estate when the family get together and shout at your windows.

[mcfly02] 26/9/2019 20:45

The clown even had to take out a mortgage on his tomato tunnel 😂

[stockport loser] 26/9/2019 20:39

Lada more like.

[nestoframpers] 26/9/2019 20:39

OT

Re Law makers , that is meant to be Parliaments job.

[0ili0] 26/9/2019 20:19

Red ticks come and red ticks go.Another tyre on the Lambo paid by the divi.;)

[welshki] 26/9/2019 20:03

What a moronic infantile clown

[mcfly02] 26/9/2019 20:01

I liked Jamie's post on the pumps so much here it is again 😃

Broadford bay

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.

[beernut] 26/9/2019 19:59

Iraqi Parliament Delegation to Visit Kurdistan Region

BasNews 26/09/2019 - 19:13 Published in Kurdistan
Iraqi Parliament Delegation to Visit Kurdistan Region

Tagged under en
ERBIL - A delegation from the Iraqi Council of Representatives will visit the Kurdistan Region next week, a lawmaker said on Thursday.

Mohammed Shakr, an MP at the Iraqi Parliament, told Kurdistan 24 that the delegates will discuss a range of issues with the Kurdish lawmakers.

The Iraqi delegation includes members from the Legal, Oil & Gas, and Finance Committees, Shakr noted, adding that there is progress in the dialogue between Erbil and Baghdad.

[nestoframpers] 26/9/2019 18:31

Point1

Posts: 254

Price: 230.00

No Opinion

RE: Dividend & Things :)Today 12:51
TM - "GKP is in a very very special subset, a company that dropped through the 10% of that 10%max and even further AND is still in existence."

Indeed it is a very special company. It's as if it's survival has been part of some purpose. Now you say you didn't follow SHAG too closely, but the actions here really are at the extreme end of the probability curve - it's a terrible sham, let alone SHAG. The founder of the group is the niece of Oilman63, and she also runs the cutthecagain avatar as well as many others. Now, if you know that, and GKP surely had that one worked out years ago, then you would have your reason to "reset" the restructuring.

So, the City sell out on the way down (of course they read the Pareto article...) and the mug PIs stay on board. Apart from those listening to Oilman63...and other entities acquire stock at cheap prices...46.5p...4.65p.... so upon reset the company goes to the pre-restructure holders. Could it be done i=using a special divi, although I'm not sure they know how to calculate this (nudge, nudge) whilst buying back all equity at 300p (new money, natch)... and everyone is a winner. All of the bondholders and those that took up the open offer get a healthy return, and all the pre-restructure holders get a decent pay day - well, they did the support company/KRG whilst ISIS were banging on the doors.

So, who bought the equity pre-restructure.....

There's CIty theory, and there's Middle Eastern practice.

[nestoframpers] 26/9/2019 18:28

see the rest here

[nestoframpers] 26/9/2019 18:26

Straycat

Posts: 345

Price: 225.50

No Opinion

RE: Positive article Mark, shame about mistakes.Today 17:32
This Assessment by Mark Watson-Mitchell is remarkable because it gives us new updated information regarding cashflow and capex.

Full year capex is now forecast @$100m as opposed to the previous estimates of $130m-$150m.
Since half year spend was declared @$32.4m, this gives us capex spend of $62.6m to go in the second half.
The cash balance is now declared @ $263.6m as at 9 September.
The first tranche dividend @$17.3m must also be included in that declared cash balance since it was distributed on 5/7/2019.
Similarly in the RNS of 2/9/2019 declaring the completion of the first phase of the share buy-back programme we had bought 5,225,933 shares at a VWAP of £2.34, or $15m.

So in cash terms;
If we assume that there is still the second tranche of the dividend spend to come @ $33.3m;
If we include completion of the $10m second phase buy-back spend in the second half;
And if we assume that none of that second half capex of $62.6m has been utilised since 9/9/2019 so is still to be spent;
Then total ‘exceptional’ spend for the second half to come is $106m.

With four months payments to come, at between $70m-$90m at the very least , then by year end our cash position will be repaired nearly back to its half year position of $302.4m
.
All this despite the extraordinary buffeting cash balances have taken, with capex, dividend, and buy-back spend combined exceeding $175m for the full year.

This is a truly outstanding performance, with the outlook even more exciting as we progress to 55k bopd and beyond.

Yet look at the share price and you’re brought crashing back to earth.

A significant re-rate must be coming.

[steephill cove] 26/9/2019 18:25

If someone wanted to source a leak in GKP you would be the perfect patsy as you have not learned to open your mind rather than your mouth.McFly has flown...

[pensioner2] 26/9/2019 18:16

So another 170k+ in the pot. But this time bought by PH in 2 large chunks rather than Cannacord in lots of small ones. Exactly the same pattern as for the first tranche. Does anyone have any idea why this sequence is being followed?

P.S. We haven't seen the usual four equal trades after the close today either.

[urals] 26/9/2019 16:11

Well they have pushing over $half a billion cash facilitiesThey clearly haven't used it to rapidly grow productionSo be very obvious to use it to maximise takeover exit profits through major buyback .

[chinese_takeaway] 26/9/2019 15:48

Taconic sold 30m +at vwap $2.80 to someone?Capital sold 5m at vwap $2.80 to ?The first tranche buyback of 5.225 was vwap just over $2.80All coincidental of course So it's odds on that any pre agreed call options the company had in place at restructuring with debt and noteholders around that strike, for a major off mkt buyback TBCHopefully the more bought in the better for remainers....

[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.