Gulf Keystone Petroleum Share Discussion Threads

[chinese_takeover] 19/6/2020 09:03

From LSE===============================================================================My more detailed comments on this morning’s RNS are as follows.* GKP is able to quickly move back to growth* Shaikan has “significant untapped valueâ€?, a comment which is consistent with previous repeated board guidance* production at 36,000 bopd looks fine in view of the COVID-19 effects* the new SH-12 well has been perforated so as to test the Butmah formation, which is considerably deeper than the SAM reservoir. The company have prioritised this appraisal work over pure SAM production development (this is not in today’s RNS but is in a recent one, and appears to have been widely overlooked)* the drilling rig is not costing GKP anything and can be brought back onto drilling activities when required. There is no mention of using it for any workovers* the 55,000 bopd production programme remains a near-term priority* 2020 will have Opec and G&A spend more than 20% below the 2019 level, and the ongoing rate will exceed 30%* 2020 Opex will have been substantially reduced to between $2.7 to $3.1 per barrel, one of the lowest in the world* capex for 2020 will be just $10m to $18m for April to December 2020, by which time PF-1 and PF-2 will have a combined capacity of 55,000 bopd (see GKP website)* the KRG are described as settling invoices during the month after which they are submitted. The only outstanding KRG payment issue is the $73.3 million sum for the November 2019 to February 2020 period* the cash balance of $144 million will be supported by the monthly KRG production payments going forward and in addition there is the owed $73.3 million sum to be taken into account* the reappointment of Garrett Soden is significant. He now represents major shareholder Lansdowne Partners, who have pretty obviously told GKP that they require direct representation on the board. Lansdowne very publicly previously displayed their anger regarding the bonus payments due to Jon Ferrier etc.* the company is described as financially resilient* restated GKP commitment to paying Dividends.All in all a very sound, low-spend position which few oil companies can match during these challenging times. With one of the lowest lifting costs in the world, GKP is surely very well-placed.IMO

[chinese_takeover] 19/6/2020 09:03

Agree Thick Tony, might be a hostile takeover intervention after all.Meanwhile the cash pile rises Looks like with 30% cost cuts they wlll make good money at only 31 dollar Brent, so cash pile will increase.Lansdowne a major shareholder who have recently increased stake, are managing the funds on behalf of?That looks to be Lundin Group given they putting their man on board.Astaris the other largest shareholder,is another capital management Co, who sits behind them?Is this friendly or a competition.Interesting.

[chinese_takeover] 19/6/2020 09:03

Intriguing Thick Tony ,Lundin via Lansdowne, recently been building stake higher put man on board , who is behind Astaris the largest holder also building stake ,and of course who owns the AWOL other 25% plus ?

[the patriotic irishman] 19/6/2020 09:03

a very wise psychologist once said that it is a well known Chinese proverb 👀


if you mutter something enough times people 'might' begin to believe it 😉



THICK monkey say THICK monkey do 🙈 🙉 🙊



bang gone sold - NOPE NOT TODAY - NOT EVER - STILL GOT LTIP PIGLETS TO FEED 🐷

[mcfly02] 19/6/2020 09:01

Good Morning 😃

I wasn't in a rush to get out of bed this morning 😴

So what did I miss 😂

Over the last few weeks GoatCam has pretty much written that RNS for you and more.

I wonder which director was up for the chop if they didn't take Garret back on ???

And just to point out they have not put the staff on standby, they have actually sacked them.

Field performing as they expected lol

More like hiding problems behind Covid.

Come on Gulf this is an excellent opportunity to prove me wrong !

Provide the well results on SH12 !

[chinese_takeover] 19/6/2020 08:58

Intriguing Thick Tony ,Lundin via Lansdowne, recently been building stake higher put man on board , who is behind Astaris the largest holder also building stake ,and of course who owns the AWOL other 25% plus ?

[chinese_takeover] 19/6/2020 08:58

Agree Thick Tony, might be a hostile takeover intervention after all.Meanwhile the cash pile rises Looks like with 30% cost cuts they wlll make good money at only 31 dollar Brent, so cash pile will increase.Lansdowne a major shareholder who have recently increased stake, are managing the funds on behalf of?That looks to be Lundin Group given they putting their man on board.Astaris the other largest shareholder,is another capital management Co, who sits behind them?Is this friendly or a competition.Interesting.

[chinese_takeover] 19/6/2020 08:58

From LSE===============================================================================My more detailed comments on this morning’s RNS are as follows.* GKP is able to quickly move back to growth* Shaikan has “significant untapped valueâ€?, a comment which is consistent with previous repeated board guidance* production at 36,000 bopd looks fine in view of the COVID-19 effects* the new SH-12 well has been perforated so as to test the Butmah formation, which is considerably deeper than the SAM reservoir. The company have prioritised this appraisal work over pure SAM production development (this is not in today’s RNS but is in a recent one, and appears to have been widely overlooked)* the drilling rig is not costing GKP anything and can be brought back onto drilling activities when required. There is no mention of using it for any workovers* the 55,000 bopd production programme remains a near-term priority* 2020 will have Opec and G&A spend more than 20% below the 2019 level, and the ongoing rate will exceed 30%* 2020 Opex will have been substantially reduced to between $2.7 to $3.1 per barrel, one of the lowest in the world* capex for 2020 will be just $10m to $18m for April to December 2020, by which time PF-1 and PF-2 will have a combined capacity of 55,000 bopd (see GKP website)* the KRG are described as settling invoices during the month after which they are submitted. The only outstanding KRG payment issue is the $73.3 million sum for the November 2019 to February 2020 period* the cash balance of $144 million will be supported by the monthly KRG production payments going forward and in addition there is the owed $73.3 million sum to be taken into account* the reappointment of Garrett Soden is significant. He now represents major shareholder Lansdowne Partners, who have pretty obviously told GKP that they require direct representation on the board. Lansdowne very publicly previously displayed their anger regarding the bonus payments due to Jon Ferrier etc.* the company is described as financially resilient* restated GKP commitment to paying Dividends.All in all a very sound, low-spend position which few oil companies can match during these challenging times. With one of the lowest lifting costs in the world, GKP is surely very well-placed.IMO

[broadford bay] 19/6/2020 08:57

Only another $14M Net CAPEX spend for remainder of 2020...

Where are the Chinese?

[the patriotic irishman] 19/6/2020 08:55

'meanwhile the cash pile rises'


looks like we got ourselves another THICK one here 😂


you're not related to another one of our multi alias 'exiled' doppelgangers are you 😉


monkey say monkey do 🙈 🙉 🙊



bang gone sold - NOPE NOT TODAY - NOT EVER - STILL TOO MANY PIGLETS TO FEED 🐷

[chinese_takeover] 19/6/2020 08:49

Agree Thick Tony, might be a hostile takeover intervention after all.Meanwhile the cash pile rises Looks like with 30% cost cuts they wlll make good money at only 31 dollar Brent, so cash pile will increase.Lansdowne a major shareholder who have recently increased stake, are managing the funds on behalf of?That looks to be Lundin Group given they putting their man on board.Astaris the other largest shareholder,is another capital management Co, who sits behind them?Is this friendly or a competition.Interesting.

[chinese_takeover] 19/6/2020 08:49

Intriguing Thick Tony ,Lundin via Lansdowne, recently been building stake higher put man on board , who is behind Astaris the largest holder also building stake ,and of course who owns the AWOL other 25% plus ?

[chinese_takeover] 19/6/2020 08:48

From LSE===============================================================================My more detailed comments on this morning’s RNS are as follows.* GKP is able to quickly move back to growth* Shaikan has “significant untapped valueâ€?, a comment which is consistent with previous repeated board guidance* production at 36,000 bopd looks fine in view of the COVID-19 effects* the new SH-12 well has been perforated so as to test the Butmah formation, which is considerably deeper than the SAM reservoir. The company have prioritised this appraisal work over pure SAM production development (this is not in today’s RNS but is in a recent one, and appears to have been widely overlooked)* the drilling rig is not costing GKP anything and can be brought back onto drilling activities when required. There is no mention of using it for any workovers* the 55,000 bopd production programme remains a near-term priority* 2020 will have Opec and G&A spend more than 20% below the 2019 level, and the ongoing rate will exceed 30%* 2020 Opex will have been substantially reduced to between $2.7 to $3.1 per barrel, one of the lowest in the world* capex for 2020 will be just $10m to $18m for April to December 2020, by which time PF-1 and PF-2 will have a combined capacity of 55,000 bopd (see GKP website)* the KRG are described as settling invoices during the month after which they are submitted. The only outstanding KRG payment issue is the $73.3 million sum for the November 2019 to February 2020 period* the cash balance of $144 million will be supported by the monthly KRG production payments going forward and in addition there is the owed $73.3 million sum to be taken into account* the reappointment of Garrett Soden is significant. He now represents major shareholder Lansdowne Partners, who have pretty obviously told GKP that they require direct representation on the board. Lansdowne very publicly previously displayed their anger regarding the bonus payments due to Jon Ferrier etc.* the company is described as financially resilient* restated GKP commitment to paying Dividends.All in all a very sound, low-spend position which few oil companies can match during these challenging times. With one of the lowest lifting costs in the world, GKP is surely very well-placed.IMO

[jackpotjack] 19/6/2020 08:46

Will the takeover be announced in the AGM?

[chinese_takeover] 19/6/2020 08:35

Intriguing Thick Tony ,Lundin via Lansdowne, recently been building stake higher put man on board , who is behind Astaris the largest holder also building stake ,and of course who owns the AWOL other 25% plus ?

[chinese_takeover] 19/6/2020 08:34

Agree Thick Tony, might be a hostile takeover intervention after all.Meanwhile the cash pile rises Looks like with 30% cost cuts they wlll make good money at only 31 dollar Brent, so cash pile will increase.Lansdowne a major shareholder who have recently increased stake, are managing the funds on behalf of?That looks to be Lundin Group given they putting their man on board.Astaris the other largest shareholder,is another capital management Co, who sits behind them?Is this friendly or a competition.Interesting.

[chinese_takeover] 19/6/2020 08:34

From LSE===============================================================================My more detailed comments on this morning’s RNS are as follows.* GKP is able to quickly move back to growth* Shaikan has “significant untapped valueâ€?, a comment which is consistent with previous repeated board guidance* production at 36,000 bopd looks fine in view of the COVID-19 effects* the new SH-12 well has been perforated so as to test the Butmah formation, which is considerably deeper than the SAM reservoir. The company have prioritised this appraisal work over pure SAM production development (this is not in today’s RNS but is in a recent one, and appears to have been widely overlooked)* the drilling rig is not costing GKP anything and can be brought back onto drilling activities when required. There is no mention of using it for any workovers* the 55,000 bopd production programme remains a near-term priority* 2020 will have Opec and G&A spend more than 20% below the 2019 level, and the ongoing rate will exceed 30%* 2020 Opex will have been substantially reduced to between $2.7 to $3.1 per barrel, one of the lowest in the world* capex for 2020 will be just $10m to $18m for April to December 2020, by which time PF-1 and PF-2 will have a combined capacity of 55,000 bopd (see GKP website)* the KRG are described as settling invoices during the month after which they are submitted. The only outstanding KRG payment issue is the $73.3 million sum for the November 2019 to February 2020 period* the cash balance of $144 million will be supported by the monthly KRG production payments going forward and in addition there is the owed $73.3 million sum to be taken into account* the reappointment of Garrett Soden is significant. He now represents major shareholder Lansdowne Partners, who have pretty obviously told GKP that they require direct representation on the board. Lansdowne very publicly previously displayed their anger regarding the bonus payments due to Jon Ferrier etc.* the company is described as financially resilient* restated GKP commitment to paying Dividends.All in all a very sound, low-spend position which few oil companies can match during these challenging times. With one of the lowest lifting costs in the world, GKP is surely very well-placed.IMO

[chinese_takeover] 19/6/2020 08:34

From LSE===============================================================================My more detailed comments on this morning’s RNS are as follows.* GKP is able to quickly move back to growth* Shaikan has “significant untapped valueâ€?, a comment which is consistent with previous repeated board guidance* production at 36,000 bopd looks fine in view of the COVID-19 effects* the new SH-12 well has been perforated so as to test the Butmah formation, which is considerably deeper than the SAM reservoir. The company have prioritised this appraisal work over pure SAM production development (this is not in today’s RNS but is in a recent one, and appears to have been widely overlooked)* the drilling rig is not costing GKP anything and can be brought back onto drilling activities when required. There is no mention of using it for any workovers* the 55,000 bopd production programme remains a near-term priority* 2020 will have Opec and G&A spend more than 20% below the 2019 level, and the ongoing rate will exceed 30%* 2020 Opex will have been substantially reduced to between $2.7 to $3.1 per barrel, one of the lowest in the world* capex for 2020 will be just $10m to $18m for April to December 2020, by which time PF-1 and PF-2 will have a combined capacity of 55,000 bopd (see GKP website)* the KRG are described as settling invoices during the month after which they are submitted. The only outstanding KRG payment issue is the $73.3 million sum for the November 2019 to February 2020 period* the cash balance of $144 million will be supported by the monthly KRG production payments going forward and in addition there is the owed $73.3 million sum to be taken into account* the reappointment of Garrett Soden is significant. He now represents major shareholder Lansdowne Partners, who have pretty obviously told GKP that they require direct representation on the board. Lansdowne very publicly previously displayed their anger regarding the bonus payments due to Jon Ferrier etc.* the company is described as financially resilient* restated GKP commitment to paying Dividends.All in all a very sound, low-spend position which few oil companies can match during these challenging times. With one of the lowest lifting costs in the world, GKP is surely very well-placed.IMO

[the patriotic irishman] 19/6/2020 08:32

my dearest exiled Scottish doppelganger pray tell us why would you need to copy your own posts from LSE over here under the pretence it belongs to some else when we all know its you 😉


BTW my psychiatrist neighbour was asking how your 7 year multiple identity multiple forum oily itch is coming along 😂



monkey say monkey do huh 🙈 🙉 🙊



bang gone sold - can't see it myself - NOPE NOT EVER - TOO MANY PIGLETS TO FEED 🐷

[highlander7] 19/6/2020 08:16

From LSE

===============================================================================

My more detailed comments on this morning’s RNS are as follows.

* GKP is able to quickly move back to growth

* Shaikan has “significant untapped value”, a comment which is consistent with previous repeated board guidance

* production at 36,000 bopd looks fine in view of the COVID-19 effects

* the new SH-12 well has been perforated so as to test the Butmah formation, which is considerably deeper than the SAM reservoir. The company have prioritised this appraisal work over pure SAM production development (this is not in today’s RNS but is in a recent one, and appears to have been widely overlooked)

* the drilling rig is not costing GKP anything and can be brought back onto drilling activities when required. There is no mention of using it for any workovers

* the 55,000 bopd production programme remains a near-term priority

* 2020 will have Opec and G&A spend more than 20% below the 2019 level, and the ongoing rate will exceed 30%

* 2020 Opex will have been substantially reduced to between $2.7 to $3.1 per barrel, one of the lowest in the world

* capex for 2020 will be just $10m to $18m for April to December 2020, by which time PF-1 and PF-2 will have a combined capacity of 55,000 bopd (see GKP website)

* the KRG are described as settling invoices during the month after which they are submitted. The only outstanding KRG payment issue is the $73.3 million sum for the November 2019 to February 2020 period

* the cash balance of $144 million will be supported by the monthly KRG production payments going forward and in addition there is the owed $73.3 million sum to be taken into account

* the reappointment of Garrett Soden is significant. He now represents major shareholder Lansdowne Partners, who have pretty obviously told GKP that they require direct representation on the board. Lansdowne very publicly previously displayed their anger regarding the bonus payments due to Jon Ferrier etc.

* the company is described as financially resilient

* restated GKP commitment to paying Dividends.

All in all a very sound, low-spend position which few oil companies can match during these challenging times. With one of the lowest lifting costs in the world, GKP is surely very well-placed.

IMO

[chinese_takeover] 19/6/2020 08:13

Agree Thick Tony, might be a hostile takeover intervention after all.Meanwhile the cash pile rises Looks like with 30% cost cuts they wlll make good money at only 31 dollar Brent, so cash pile will increase.Lansdowne a major shareholder who have recently increased stake, are managing the funds on behalf of?That looks to be Lundin Group given they putting their man on board.Astaris the other largest shareholder,is another capital management Co, who sits behind them?Is this friendly or a competition.Interesting.

[chinese_takeover] 19/6/2020 08:13

Intriguing Thick Tony ,Lundin via Lansdowne, recently been building stake higher put man on board , who is behind Astaris the largest holder also building stake ,and of course who owns the AWOL other 25% plus ?

[urals] 19/6/2020 08:12

Correct, Thick Tony cash cow even at Brent 40 bucksJune receipt for May sales average Brent 29.38At 36k, should rec about 9m gross 7.2m netJuly receipt should be a lot higher

[the patriotic irishman] 19/6/2020 08:10

''breakeven was $35, its now a lot lower''

LOL is that $35 Brent before or after the discount 😉


Full Year 2019
Average Gross Production (bopd) 32,883
Average Brent ($/bbl) 64.3
Discount ($/bbl) 21.7
Realised Price ($/bbl) 42.9
Revenue ($m) 206.7
Profit after tax ($m) 43.5
Net Cash ($m) 86.4
OPEX ($/bbl) 3.9

Note: Excludes capacity building charges, production bonus, DD&A, oil inventory movement and transportation costs.


leave it to the experts huh 😲


SO as the lowest lifting costs on the planet just got lower and the retail carrots keep on coming I can't wait to see their 2020 balance sheet results 😂



monkey say monkey do 🙈 🙉 🙊



bang gone sold - can't see it myself - NOPE NOT EVER - TOO MANY PIGLETS TO FEED 🐷

[thicktony] 19/6/2020 08:06

June receipt for May sales average Brent 29.38
At 36k, should rec about 9m gross 7.2m net
July receipt should be a lot higher