Share Name Share Symbol Market Type Share ISIN Share Description
Gulf Keystone Petroleum LSE:GKP London Ordinary Share BMG4209G2077 COM SHS USD1.00 (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +3.00p +2.36% 130.00p 128.00p 132.00p 130.25p 126.25p 126.25p 404,974.00 16:28:16
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 58.5 -91.1 -9.8 - 298.26

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DateSubject
27/2/2017
08:20
Gulf Keystone Daily Update: Gulf Keystone Petroleum is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker GKP. The last closing price for Gulf Keystone was 127p.
Gulf Keystone Petroleum has a 4 week average price of 127.61p and a 12 week average price of 130.22p.
The 1 year high share price is 1,525p while the 1 year low share price is currently 112p.
There are currently 229,429,566 shares in issue and the average daily traded volume is 229,411 shares. The market capitalisation of Gulf Keystone Petroleum is £298,258,435.80.
21/2/2017
23:39
oil_investor: nestoframpers: and this one is just 18 months ago. 11 July 2015 to be precise. What happened?! ......... It's a new day.... and I'm feeling good! Hello Action Group, it's been awhile! Just giving you an update after I attended the GKP AGM in Paris on Thursday as I know few investors were able to attend. Have you ever woken up in the morning, pulled back the curtains, the sun is shining, the sky is blue and the smell in the air is sweet? That's how i'm going to describe my AGM experience, albeit the chirping birds might come along and softly coat me with something unpleasant - that's the GKP share price and while that is largely unpleasant right now I couldn't help but smile on Thursday as that day had been a long time coming! A couple of us were sat in the bar on Wednesday night when along came Phil Dimmock and Jon Ferrier. After awhile Jon and Phil came and sat with us. What a breath of fresh air! On first impressions Jon isn't far from being a model CEO. He has had many years dealing with Ashti and knows him very well. Knows the business inside out, was the person responsible for moving Maersk in to Kurdistan so knows the area well and delivered his Syrian project on time and on budget despite very difficult circumstances. I asked Jon if he had any other commitments and he stressed that Gulf Keystone Petroleum will be his only priority, his full time job and I believed he takes it very seriously and is willing to give it his full commitment. Jon intends to spend 1 week out of every month in Erbil to maintain his relationship in Kurdistan and to keep up to date and in touch with the business. Not a yacht or a blackberry to be seen! He expressed empathy for some of the positions shareholders found themselves in and without question plans to overhaul Investor Relations as well as to provide opportunities for shareholders to meet with Company Directors and Officials so that they can feel confident in the way the company is progressing and to feedback any concerns of their own that they may have. The over-arching message that came across was that this man has a conscience and as such recognises his responsibility to and has a respect for his shareholders. On the other hand that doesn't make him a push over by any stretch of the imagination. Both him and Sami are very focused, very clear, very switched-on and very driven. The Dynamic Duo. They both set out their very clear vision for the future, - explaining that every barrel of oil sold so far in 2015 has been paid for - that they continue to negotiate with the KRG regarding the outstanding money owed - that expansion plans can only be considered when arrears are paid (or a clear plan is in place showing how they will be paid) - that while the company is up for sale, they will not accept just any offer - ALL the staff that I spoke to at the AGM stressed that the asset is very good, our problems stem from a lack of payment - that they intend to wrap up sales negotiations soon so that serious interest can either make a realistic bid or if not, that the company can focus their energies directly back in to the company. - a board aligned with shareholders - holding stock of their own It was accepted that it would not be in the KRG's interest to see us fail, they too want to see Shaikan and GKP do well. From general chatter, I picked up that our peers do class Shaikan as World Class and I think it was announced on the Wednesday that Kurdistan were going ahead with selling their own oil. All in all, despite the bird poo (the share price) I couldn't help but feel optimistic and relieved that we have the makings of a team that are aligned with us, shareholders and I think / hope that this could be the start of something special! So a big THANK YOU to team SAG, The picture that was painted on Wednesday and Thursday was the vision I had hoped for when SAG started and although it's taken a long time - they do say the best things are worth waiting for! ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- After the AGM a few shareholders asked about SAG and whether they could join. Initially I said it was pretty much dormant now but on reflection I think it would be a good idea to resume. I don't think any sort of action will need to be taken now if Jon drives his team forward with the vision he has set out, but it would cause no harm for shareholders to get together with a united front and be ready to act should a need ever in the future arise. The Institutional Investors have increased their holdings recently, they have a greater say and are well organised (but also conscientious) The bondholders are organised - look how they negotiated the BER issue But yet, the retail investors, GKP's largest group of investors are haphazard. Instead of being motivated to influence any kind of positive change they vent their frustrations or make fun at each other over a bulletin board. Some private investors have invested considerable sums of money in to this stock, this is not a way to behave. If they were over charged £10 at a shop they would speak to the shop owner, and if they got nowhere, they'd write a letter - but they'd sort it out. Here people are sat on losses of tens, if not hundreds of thousands and the best they can do is vent at another shareholder or get annoyed. Time to refocus that energy in my opinion, get your energy, like your money well spent. GKP SAG have proved they can be effective, decisive and efficient (getting our resoluntion in in the short space of time we had with the challenges that we faced in getting the paperwork together was a massive acheivement by all involved. It proved dedication and commitment.) So rather than waste our energies, I have set up a new group for EVERYONE to join who wants to - gkpshareholdergroup.boards.net - I hope to see as many of you over there as possible. It's a new dawn for GKP Let's make a new dawn for GKP's shareholders. All views my own, memory the same. Please don't take any of the above as investment advice.
17/2/2017
15:25
avatar333: oil_investor 17 Feb '17 - 15:11 - 534229 of 534233 1 2 GKPhero: the following is equally interesting IMO. Note the very specific statement about Exxon having already "run the slide rule" over GKP by February 2012. ............ Oil group plots elevation into FTSE 100 index Chief executive says 'world has woken up' to Iraqi reserves and targets April for full listing Mark Leftly @MLeftly Sunday 19 February 2012 Gulf Keystone Petroleum (GKP), the fast-growing oil group, plans to move to the main board of the London Stock Exchange in April. The Iraq-focused oil group, which is currently listed on the junior Aim-market, has long targeted a move to the full index, though the timing has not been certain partly due to share ownership issues. However, the one-time minnow's growth has been so extraordinary in the past two months that GKP would comfortably qualify for the FTSE 100 blue chip club. Todd Kozel, GKP's hugely colourful executive chairman from Texas, told The Independent on Sunday: "We're not that little kid in short-pants anymore, it's time to move to the full list. We're working on it [a full listing] operationally, internally, administratively and I'd like to have this done in April, maybe May." Mr Kozel, inset below, said the recent rise, which has seen the price climb from 128p at the end of October to 411p at close of play on Friday, was due to the "world waking up" to the vast oil reserves GKP possesses in the semi-autonomous region of Kurdistan in Iraq. This increased share price values the company at around £3.5bn. Institutional investors' interests have been piqued by widespread speculation that bidders are circling GKP. US giant ExxonMobil, which has bet heavily on the region, has run the slide rule over the company, with rumours suggesting that Chinese giant, Sinopec, has also mulled an offer. A leading investor said that the huge level of recent interest in the shares was partly down to institutions looking to sweep up shares ahead of GKP joining, at least, the FTSE 250. More fund managers have looked to take shares once they realised that it was likely to be a FTSE 100 company. However, Mr Kozel said that he hoped that small private investors, who speculate feverishly about the company on online discussion forums and some of whom have risked their life-savings on GKP, would not be squeezed out by the big City firms. "We have plenty of blue chip institutions invested in us already, why shouldn't the private investors stay as well? What's the difference between them and the blue chips [to the final share price]?" he asked. Leading City investors have held private concerns about GKP because of confusion over Mr Kozel's ownership of the company, which is held through a series of trusts. These were partially unravelled in his divorce of Ashley Kozel, which was finally settled last month and also entertained the City with evidence that he gave about strippers in glamorous nightclubs. Mr Kozel laughed about the details of his personal life, revealed in these pages last year, but added: "GKP is evolving quickly, creating value quickly, and is noth-ing short of a world class asset."
17/2/2017
15:11
oil_investor: GKPhero: the following is equally interesting IMO. Note the very specific statement about Exxon having already "run the slide rule" over GKP by February 2012. ............ Oil group plots elevation into FTSE 100 index Chief executive says 'world has woken up' to Iraqi reserves and targets April for full listing Mark Leftly @MLeftly Sunday 19 February 2012 Gulf Keystone Petroleum (GKP), the fast-growing oil group, plans to move to the main board of the London Stock Exchange in April. The Iraq-focused oil group, which is currently listed on the junior Aim-market, has long targeted a move to the full index, though the timing has not been certain partly due to share ownership issues. However, the one-time minnow's growth has been so extraordinary in the past two months that GKP would comfortably qualify for the FTSE 100 blue chip club. Todd Kozel, GKP's hugely colourful executive chairman from Texas, told The Independent on Sunday: "We're not that little kid in short-pants anymore, it's time to move to the full list. We're working on it [a full listing] operationally, internally, administratively and I'd like to have this done in April, maybe May." Mr Kozel, inset below, said the recent rise, which has seen the price climb from 128p at the end of October to 411p at close of play on Friday, was due to the "world waking up" to the vast oil reserves GKP possesses in the semi-autonomous region of Kurdistan in Iraq. This increased share price values the company at around £3.5bn. Institutional investors' interests have been piqued by widespread speculation that bidders are circling GKP. US giant ExxonMobil, which has bet heavily on the region, has run the slide rule over the company, with rumours suggesting that Chinese giant, Sinopec, has also mulled an offer. A leading investor said that the huge level of recent interest in the shares was partly down to institutions looking to sweep up shares ahead of GKP joining, at least, the FTSE 250. More fund managers have looked to take shares once they realised that it was likely to be a FTSE 100 company. However, Mr Kozel said that he hoped that small private investors, who speculate feverishly about the company on online discussion forums and some of whom have risked their life-savings on GKP, would not be squeezed out by the big City firms. "We have plenty of blue chip institutions invested in us already, why shouldn't the private investors stay as well? What's the difference between them and the blue chips [to the final share price]?" he asked. Leading City investors have held private concerns about GKP because of confusion over Mr Kozel's ownership of the company, which is held through a series of trusts. These were partially unravelled in his divorce of Ashley Kozel, which was finally settled last month and also entertained the City with evidence that he gave about strippers in glamorous nightclubs. Mr Kozel laughed about the details of his personal life, revealed in these pages last year, but added: "GKP is evolving quickly, creating value quickly, and is noth-ing short of a world class asset."
16/12/2016
10:19
nestoframpers: IF Zahai was a expert he'd have looked at the co's valuation prior to taking any route like restructuring or recommending it as above his words “The current management team was brought in with the purpose of restructure and to help save hundreds of jobs in the UK and Kurdistan. Who authorised the appointment of Nadhim Zahawi ? Why were Shareholders not informed nor given the opportunity to vote on his appointment ? Afren Shareholders were never given an explanation of what services he carried out to protect Shareholders Can you Define the Role of N Zahawi ? Why has his input not been relayed or his strategy published on the GKP website ? If there was a strategy to what extent has his strategy been adjusted as the Share Price has fallen ? Or is there any strategy to show ? How has his Involvement benefited the Owners of the company GKP Shareholders ? What was his bonus for specifically ? What specific services has he provided to GKP to date ? Where is the written evidence or proof of correspondence by NZ to show that he has been providing services which are intended to benefit GKP Shareholders. In light of the fact that prior to joining GKP NZ was appointed as a consultant / adviser to Afren who subsequently went into administration and to Talisman Energy who withdrew from a Kurdistan oil license containing a significant discovery , Did GKP Board take this into account when he was appointed to GKP and do you feel that his services have been value for money? In light of the Share Price decline from circa 35 pence when CEO Jon Ferrier was appointed to some 5p at the time the debt restructuring was proposed does the Chairman feel that his Renummeration and Annual Bonus of hundreds of thousands of pounds was warranted ? In light of the Share Price decline from circa 55 pence when CFO Sami Zouari was appointed to some 5p at the time the debt restructuring was proposed does the Chairman feel that his Renummeration and Annual Bonus of hundreds of thousands of pounds was warranted ?
02/12/2016
18:23
oil_investor: Something from the vaults lol .................................................................................... I have now taken a closer look at the latest Investor Presentation, since nobody much else appears to have done so. 1. Valuations The Enterprise Value is given as $341 million, with the median analysts' asset value at $896.1 million. The latter would equate to a diluted share price of 3.2 pence (or £3.20 after the forthcoming consolidation). The current CPR gives an NPV of $4.615 billion for GKP's interest in Shaikan, based upon the 3P Reserves (GKP Working Interest of 551 million barrels) at a discount rate of zero. This would equate to a diluted share price of 16.5 pence, which is more than an order of magnitude above the current diluted share price. Whilst this figure would reduce with the application of a discount rate, a counterbalancing factor is that GKP have not included the Shaikan Contingent or Prospective Resources in the NPV valuations quoted in the Presentation. These latter figures are very substantial: for example, the GKP Working Interest in the Shaikan Contingent Oil is 500 million barrels. These numbers are based upon ERC volumetric assessments which were disputed in 2014 by both John Gerstenlauer and John Stafford, but that is of course another matter. The Presentation and the CPR suggest that the current share price does not reflect the underlying value of the assets in the Shaikan Cretaceous, Jurassic, Triassic (and potentially Permian) reservoirs. GKP must presumably share this view, otherwise they could not justifiably refer to the upside potential in the share price. Indeed, by way of an example the Enterprise Value was over one billion dollars when Jon Ferrier was appointed CEO and had previously been very much higher. 2. GKP in the context of Kurdistan as a whole Perhaps rather oddly, the Presentation says that the "USGS reports...estimated undiscovered hydrocarbons of c. 40 billion barrels of oil in Kurdistan". This might perhaps lead to the incorrect interpretation that Shaikan is relatively minor compared to the overall potential of Kurdistan; that USGS figure was actually compiled many years ago and it predates the exploration drilling which has been done over the past decade etc. It has already been established that it was in fact an Oil In Place figure and it did not represent a USGS estimate of economically Recoverable Resources. GKP do not include the Shaikan Oil In Place figure in the Presentation and therefore the positioning of Shaikan within the overall context of Kurdistan is not apparent. The MNR have previously recognised the very substantial contribution of the GKP Oil In Place discoveries to that USGS "marker" figure, and it has become increasingly apparent that Shaikan is far more significant in the overall context of Kurdistan than was ever anticipated when the PSCs were awarded to the International Oil Companies around a decade or so ago. A number of high-profile PSC targets proved unsuccessful for a number of other IOCs when drilled, whereas the exploration success at Shaikan greatly exceeded the pre-drill estimate as was explained to Lord Justice Christopher Clarke at the Excalibur trial in the Commercial Court. So Shaikan - which was dominated by GKP with its small army of PIs - very unexpectedly rose to the top of the pile. The latest Presentation does show GKP already at Number Two in the Kurdistan IOC 2P Reserves table, marginally behind DNO, but any comparison of the USGS Oil In Place estimates with the Recoverable Reserves figures potentially understates what has been found in total during some ten years of exploration drilling in Kurdistan and, in particular, what GKP had discovered under the stewardship of Todd Kozel. 3. Current Production In terms of production, Shaikan is currently producing (when external factors are not hampering operations) about 39,000 bopd. This is a very good performance within the physical constraints: the current surface facilities probably have a "nameplate" capacity (including the benefits of some debottlenecking investment) of somewhere around 45,000 bopd (the figure has not been given by GKP, though individual daily production has been some way in excess of 40,000 bopd demonstrating that 40,000 bopd is not the upper limit) but an oilfield cannot run at full output because of the downtime associated with maintenance etc. work. The current output is not in decline, though the "headline" 40,000 bopd is hardly what Kurdistan needs: well-known declines and failures elsewhere (Tawke, Taq Taq, Akri-Bijeel etc) have required additional output from the Kirkuk area in order to maintain total Kurdistan output. Increasing the Shaikan production substantially, and bringing the adjacent Atrush oilfield onto commercial production, are clearly key objectives. This is why the MNR is currently installing the 10-mile 36-inch 750,000+ bopd Feeder Pipeline from Shaikan to the KPS2 injection point on the main export pipeline. Perhaps the MNR will make a public statement regarding the Feeder Pipeline at the forthcoming Kurdistan Conference, because otherwise the situation regarding Atrush (and Swara Tika) is somewhat unclear. 4. Increasing Production and the associated Capital Expenditure In the near-term, achieving 55,000 bopd at Shaikan represents an "evolution not revolution" appriach. This level is considered relatively straightforward to achieve via the installation of up to 5 Electric Submersible Pumps and one new Jurassic production well, together with the addition of a surface production module. The total cost of this work, excluding contingency, is $58.5 million to $65.4 million though GKP is apparently only liable to fund 64% of that, with MOL carrying 16% and the MNR the remaining 20%. The net cost to GKP is therefore between $37.4 million and $41.9 million excluding contingency: say, about $40 million. This is a very modest sum and represents a much lower cost per flowing barrel (actually less than $3000) than for the baseline 40,000 bopd. Indeed, the current cash-at-bank figure given in the Presentation is $108.9 million and the Shaikan operations are now reported to be cashflow positive. Including a 30% contingency, as GKP have been doing in their presentations, seems somewhat unusual not least because a capex range has already been given. The company says that the capex (of c. $40 million net to GKP) can be "funded from forecast cash flow". This is presumably intended by GKP to indicate to investors that the increase to the 55,000 bopd level can be achieved from revenue going forward, without the need to use any of the existing cash at bank. This appears reasonable, though the company's forecasting of its revenue levels has historically been over-optimistic. A level of 55,000 bopd represents annual production of 20 million barrels. Whilst such numbers are not small they bear little relationship to the future levels which have previously been forecast by GKP for Shaikan. It appears likely that another operator, with broader and deeper financial, technical and human resources would be required to realise the fuller potential within an acceptable timescale. 5. Monies outstanding The Presentation restates the 30 June 2016 figure for the net arrears of $89 million which are due to GKP from the MNR for unpaid oil sales and Government Participation Option back costs. These, together with the current cash at bank and some recent production for which payment is currently awaited, would give GKP a total cash position of some $200 million. With debt of just $100 million at the relatively modest interest rate of 10%, which can be deferred if required, the net cash position would be some $100 million. Additional to that are the recoverable Shaikan sunk costs, which are very substantial. These are probably around $500 million to $600 million net to GKP, the capex required to achieve the incremental 15,000 bopd (to reach 55,000 bopd) being itself recoverable. These monies are recoverable via the PSC Cost Recovery mechanism, going forward. The reduced oil price, which coincided with the commencement of volume production at Shaikan, prevented the recovery of these costs to the anticipated timescale. 6. In summary Broadly, a prospective purchaser would - putting aside the issue of how much recoverable oil there really is in Shaikan - be looking at an established onshore operation with positive cash flow producing 55,000 bopd with substantial upside much of which is relatively easy to address, a Feeder Pipeline in place, around half a billion dollars of recoverable capex and a total production cost in H1 2016 of just $4 a barrel, which is currently among the very lowest in the world.
16/11/2016
17:55
s_murray: An old nugget... wonder what the Sarah update from Dublin GKP AGM will be for the action group. If you held you have been shafted!!!!! It's a new day.... and I'm feeling good! Hello Action Group, it's been awhile! Just giving you an update after I attended the GKP AGM in Paris on Thursday as I know few investors were able to attend. Have you ever woken up in the morning, pulled back the curtains, the sun is shining, the sky is blue and the smell in the air is sweet? That's how i'm going to describe my AGM experience, albeit the chirping birds might come along and softly coat me with something unpleasant - that's the GKP share price and while that is largely unpleasant right now I couldn't help but smile on Thursday as that day had been a long time coming! A couple of us were sat in the bar on Wednesday night when along came Phil Dimmock and Jon Ferrier. After awhile Jon and Phil came and sat with us. What a breath of fresh air! On first impressions Jon isn't far from being a model CEO. He has had many years dealing with Ashti and knows him very well. Knows the business inside out, was the person responsible for moving Maersk in to Kurdistan so knows the area well and delivered his Syrian project on time and on budget despite very difficult circumstances. I asked Jon if he had any other commitments and he stressed that Gulf Keystone Petroleum will be his only priority, his full time job and I believed he takes it very seriously and is willing to give it his full commitment. Jon intends to spend 1 week out of every month in Erbil to maintain his relationship in Kurdistan and to keep up to date and in touch with the business. Not a yacht or a blackberry to be seen! He expressed empathy for some of the positions shareholders found themselves in and without question plans to overhaul Investor Relations as well as to provide opportunities for shareholders to meet with Company Directors and Officials so that they can feel confident in the way the company is progressing and to feedback any concerns of their own that they may have. The over-arching message that came across was that this man has a conscience and as such recognises his responsibility to and has a respect for his shareholders. On the other hand that doesn't make him a push over by any stretch of the imagination. Both him and Sami are very focused, very clear, very switched-on and very driven. The Dynamic Duo. They both set out their very clear vision for the future, - explaining that every barrel of oil sold so far in 2015 has been paid for - that they continue to negotiate with the KRG regarding the outstanding money owed - that expansion plans can only be considered when arrears are paid (or a clear plan is in place showing how they will be paid) - that while the company is up for sale, they will not accept just any offer - ALL the staff that I spoke to at the AGM stressed that the asset is very good, our problems stem from a lack of payment - that they intend to wrap up sales negotiations soon so that serious interest can either make a realistic bid or if not, that the company can focus their energies directly back in to the company. - a board aligned with shareholders - holding stock of their own It was accepted that it would not be in the KRG's interest to see us fail, they too want to see Shaikan and GKP do well. From general chatter, I picked up that our peers do class Shaikan as World Class and I think it was announced on the Wednesday that Kurdistan were going ahead with selling their own oil. All in all, despite the bird poo (the share price) I couldn't help but feel optimistic and relieved that we have the makings of a team that are aligned with us, shareholders and I think / hope that this could be the start of something special! So a big THANK YOU to team SAG, The picture that was painted on Wednesday and Thursday was the vision I had hoped for when SAG started and although it's taken a long time - they do say the best things are worth waiting for! ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- After the AGM a few shareholders asked about SAG and whether they could join. Initially I said it was pretty much dormant now but on reflection I think it would be a good idea to resume. I don't think any sort of action will need to be taken now if Jon drives his team forward with the vision he has set out, but it would cause no harm for shareholders to get together with a united front and be ready to act should a need ever in the future arise. The Institutional Investors have increased their holdings recently, they have a greater say and are well organised (but also conscientious) The bondholders are organised - look how they negotiated the BER issue But yet, the retail investors, GKP's largest group of investors are haphazard. Instead of being motivated to influence any kind of positive change they vent their frustrations or make fun at each other over a bulletin board. Some private investors have invested considerable sums of money in to this stock, this is not a way to behave. If they were over charged £10 at a shop they would speak to the shop owner, and if they got nowhere, they'd write a letter - but they'd sort it out. Here people are sat on losses of tens, if not hundreds of thousands and the best they can do is vent at another shareholder or get annoyed. Time to refocus that energy in my opinion, get your energy, like your money well spent. GKP SAG have proved they can be effective, decisive and efficient (getting our resoluntion in in the short space of time we had with the challenges that we faced in getting the paperwork together was a massive acheivement by all involved. It proved dedication and commitment.) So rather than waste our energies, I have set up a new group for EVERYONE to join who wants to - gkpshareholdergroup.boards.net - I hope to see as many of you over there as possible. It's a new dawn for GKP Let's make a new dawn for GKP's shareholders. All views my own, memory the same. Please don't take any of the above as investment advice.
02/11/2016
09:04
oil_investor: Oh dear. So Nicebut immediately changes his mind, and now says that it isn't the failures of the KRG to pay which are the cause of the GKP share price. It is simply one if a mix of adverse factors. Including appallingly poor Investor Relations and Public Relations. I mean to say: who has ever seen an article quite like the one in the Mail on Sunday?! Shaikan-6 is very interesting indeed. Nicebut believes what ERC have said, even though he now accepts that John Stafford and John Gerstenlauer said that ERC's hypothesis (it was never any more than that, a hypothesis, and the reservoir was wrongly believed to be aquifer-drive at the time) was unsound. But suppose GKP were right? What might that mean?
28/10/2016
08:04
krr13: Broker says new Gulf Keystone is a 'buy', but is an 85% rally possible?08:33 28 Oct 2016The NEW version of Gulf Keystone could rally to 2.7p, according to Cantor, but, analyst Sam Wahab notes that payment arrangements with the KRG remain the key issue."GKP is now a well-capitalised entity," the analyst said. The new version of Gulf Keystone Petroleum Limited (LON:GKP) is a 'buy', so says broker Cantor Fitzgerald, which with a 2.7p target sees some 85% upside to the current share price.It comes after a bruising restructuring saw some indebtedness reduce by US$500mln, to US$100mln, as the majority of the company's equity was handed over to its lenders.Summing up recent events, analyst Sam Wahab in a note says: "Following a turbulent period of corporate activity, GKP has effectively transformed its balance sheet, shredding debt, diluting equity, and divesting assets.He added: "GKP is now a well-capitalised entity, with sufficient resources to grow its production base for sale to the export market in Kurdistan, Iraq."GKP's full focus is now on the Shaikan field, Wahab highlights, though he says the key issue will continue to be whether or not a consistent payment mechanism can be established with the Kurdistan Regional Government (KRG).He notes: "2016 has already seen the semi-autonomous government miss a number of monthly payments."Wahab expects arrears will now have grown to US$64mln, from around US$28mln in June.Nevertheless he highlights that following the restructuring, against a challenging market and civil uncertainty in Iraq, there remains material upside to the GKP share price now that the company's 'burdens' are now partially clear.
20/10/2016
13:54
whites123: MAYA : Mayair. 2 trades of 5000 shares go through (These are not destined for share buyback) and the result is, NMS tightens up and increase of 8% showing. Folk... DYOR etc, but it really is a coiled spring waiting to pop. The company has an approved mandate to buy back 10% of stock at an average price of £1.42. (£5,500,000) all stock bought below means the top price payable goes up. MAYA : Mayair. Very limited PI interest showing in MAYA (Mayair) still, but with just 2 small PI trades showing of £3,700 total the share price has risen some 8%. The company has an approved mandate to spend over £5,500,000 on share buy back program. Its a squeeze of epic proportions. Do some research people... Im like an over excited kid as I have not seen this situation for many a year. MAYA : Mayair Close to £5,500.000 still to spend on share buy back program. Averaged out that equates to over £1.40 per share, but all those bought lower means the upper price to pay can well exceed that marker. Tripling of the share price is easy once stock is in demand. Its a squeeze of epic proportions in the waiting. And yet another RNS from MAYA showing a further share buy back. Each and every time the rns comes out the price increases. Yesterday just 2 purchases. 1 from a PI buying 2,500 shares and the other purchase was a share buy back by the company. They have the mandate to buy approx a further 4 MILLION shares back. The share price will explode... Anyone else here excited about MAYA? (Mayair) They want to buy back 4,247,500 shares (10%) for a maximum of £5,755,750 They have already bought back 340,000 shares for £205,611 So they still have to buy back 3,907,500 shares with £5,550,139 They can pay up to 142p (£5,550,139 / 3,907,500) to acquire the outstanding stock but for every share they buy below 142p, they can pay more than 142p to complete the buy-back, so the price should keep stepping up. The objective of the buy back seems to be to get the share price up. This could triple from here. 19th Oct -2016 RNS today showing they bought back more shares.. In a lightly traded stock like this they have the mandate to buy back almost 4,000,000 more. Where will the share price be by then? Many many multiples of todays price is my best guess.
20/10/2016
07:48
whites123: MAYA : Mayair. Very limited PI interest showing in MAYA (Mayair) still, but with just 2 small PI trades showing of £3,700 total the share price has risen some 8%. The company has an approved mandate to spend over £5,500,000 on share buy back program. Its a squeeze of epic proportions. Do some research people... Im like an over excited kid as I have not seen this situation for many a year. MAYA : Mayair Close to £5,500.000 still to spend on share buy back program. Averaged out that equates to over £1.40 per share, but all those bought lower means the upper price to pay can well exceed that marker. Tripling of the share price is easy once stock is in demand. Its a squeeze of epic proportions in the waiting. And yet another RNS from MAYA showing a further share buy back. Each and every time the rns comes out the price increases. Yesterday just 2 purchases. 1 from a PI buying 2,500 shares and the other purchase was a share buy back by the company. They have the mandate to buy approx a further 4 MILLION shares back. The share price will explode... Anyone else here excited about MAYA? (Mayair) They want to buy back 4,247,500 shares (10%) for a maximum of £5,755,750 They have already bought back 340,000 shares for £205,611 So they still have to buy back 3,907,500 shares with £5,550,139 They can pay up to 142p (£5,550,139 / 3,907,500) to acquire the outstanding stock but for every share they buy below 142p, they can pay more than 142p to complete the buy-back, so the price should keep stepping up. The objective of the buy back seems to be to get the share price up. This could triple from here. 19th Oct -2016 RNS today showing they bought back more shares.. In a lightly traded stock like this they have the mandate to buy back almost 4,000,000 more. Where will the share price be by then? Many many multiples of todays price is my best guess.
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