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
  -1.25p -1.22% 101.00p 99.00p 100.00p 103.75p 99.00p 102.25p 266,538 16:35:20
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 157.4 -14.0 -25.0 - 231.72

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Date Time Title Posts
24/6/201721:50THE NEW GKP / Drilling for Super Giants (moderated)542,533
24/6/201718:17Chix's road to riches!71
24/6/201715:19GKP - Soon to be Sub Ј1, just look at the charts!72
24/6/201714:13Grotto 3 - Until Forked Lightning Gets Us Banned2,183
24/6/201709:02GKP - On Balance - Moderated43,873

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DateSubject
24/6/2017
09:20
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 102.25p.
Gulf Keystone Petroleum has a 4 week average price of 99p and a 12 week average price of 99p.
The 1 year high share price is 800p while the 1 year low share price is currently 99p.
There are currently 229,429,566 shares in issue and the average daily traded volume is 90,321 shares. The market capitalisation of Gulf Keystone Petroleum is £231,723,861.66.
20/6/2017
08:42
cutthecagain: WR you seem to correlate the share price / shareholder destruction with the removal of Todd with a tunnel vision that if Todd was here the share price wouldn't be where it is and shareholders wouldn't have been diluted. You fail to acknowledge the comparisons with Genel whose shareholders have seen a loss of c90% of the share price since the good old days, WZR, and dare it be said, Afren. The future of GKP was set when in the good times the company took out disproportionate amounts of debt to pay for operations and remunerations that made headline news for what was then, a loss making company. The company had to repay that debt regardless of who was in charge. You can not be absolute that had Todd stayed that GKP wouldn't have had a demise dissimilar to Afren. The focus you have on the share price destruction being the responsibility of "SHAG" is massively flawed.
16/6/2017
17:22
owdbuffer: I suspect that the problem is not lack of suitors but the MNR, and that's what made the Data Room 18 walk last year. We know from the DNO Chairman that if a PSC is sold, the KRG think that they should benefit in some way (his words) I am sure the BH's would take a reasonable offer. JF and Co. wouldn't like it but the majority shareholders can override everybody. I am equally sure that some oil company somewhere would like to buy reserves at a reasonable price, and a reasonable price would be far above the present pathetic undervalued share price. Ergo - is it the KRG putting the mockers on a sale, unless a deal is underway as I write which would be wonderful. Is there a way round this? What about a privately negotiated sale of some of the bondholders shares at a price North of the current one, not going above 30% when a take over would have to be mounted? Would the market and ourselves have to be told what he price was? On what grounds could the KRG interfere. A backdoor farm in. GKP would have some drilling money from the new partner, the KRG would have more oil to sell, we would have a better share price and the new partner would be in a position to launch a full bid if the KRG ever decide to be reasonable. Everyone wins. There must be a snag, which will be quickly pointed out no doubt. I've had six years of this and I'm pig sick of it. They only give you ten years for murder if you can prove extreme provocation, like being married to any woman for instance.
09/6/2017
19:24
oil_investor: What actually happened is that the share price rose during 2010. Then Excalibur issued their Claim in the Commercial Court just before Christmas. It retraced during 2011. In the summer, GKP embarked upon a series of presentations, including a major one in the May Fair Hotel opposite GKP's offices on 25 August 2011 which was a sell-out. The moving averages turned at that point, and there was a recovery to where it has been in late 2010. Then Mark Leftly published his article on Sunday 18 December 2011, GKP describing it that day as "stupid", and the following day GKP issued an RNS denying what Mark Leftly hadn't actually said. The share price dropped back a bit because of that RNS. So the share price rise from August to December 2011 was (a) merely the price going back to the 2010 level and (b) nothing to do with Mark Leftly. The spike was actually after that, and was in January and February 2012. That is where the answer - whatever it is - is surely to be found. The changes in shareholdings during that period are identifiable from the Standard and Poors database.
06/6/2017
09:23
oil_investor: Oh dear. Meltdown, eh? lol 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!
29/3/2017
14:05
walval: From CCC on iii: I just want to pencil in a possible ongoing scenario that you might or might not already have in your scope. Facts: GKP have made a major restructuring effectively putting the former holders of bonds and notes in control of the company. Agreement with holders of bonds and notes was reached in July 2016. DNO bid for 300 MUSD was rebuffed by GKP board. Restructuring completed in October 2016. DNO lowers their valuation of GKP after the restructuring. After the restructuring everything is practically in a stand still, except that the asset is producing, oil is delivered and money is coming in. No decisions on investments or route forward. Former holders of bonds and notes are still clinging on to their shares, which on surface is quite surprising, since they invested in bonds and notes, not in shares. Rumour in Dec 2016 of Sinopec being interested. Have not been substantiated yet. GKP Share is traded within a narrow window of valuation since beginning of 2017. PSC amendment is still not signed although agreement was reached more than a year ago. Tony Peart has left GKP Anastasia Vvedenskaya has left GKP John Stafford has left GKP Stuart Catterall was announced as new COO in January. Conclusion: There is another step, currently not disclosed, in the restructuring deal to be expected. The step is likely to either relate to a take over of GKP as a whole or a farm out of some of GKPs share of Shaikan. Additional facts to consider: The Lundin Family is the major shareholder in ShaMaran Petroleum with 20% of Atrush PSC and is very well acquainted with Kurdistan oil environment and the Shaikan area and geology. May 2016 The Lundin family created a new holding company. Nemesia SARL. June 2016 Nemesia "bought" the Lundin Family holdings in the diamond company Lucara Diamond, a holding that at the time was worth about 270 million CAD. October 2016 Garrett Soden, a long time Lundin Group Director, was elected to the board of Gulf Keystone together with Dave Thomas (seasoned and experienced from the Afren caretaker board). December 2016 Nemesia "bought" the Lundin Family holdings in the oil company Lundin Petroleum, a holding worth about 15 billion SEK, equal to 2.25 billion CAD. January 2016 Nemesia "bought" the Lundin Family holdings in the mining company Lundin Mining, a holding worth about 770 million CAD. Bringing the total value of the Nemesia portfolio to 3.3 billion CAD. Nemesia is 100% owned by the Lundin holding companies Lorito and Zebra. February 2016 Lundin Petroleum announces a spin-out of their international assets in France, Malaysia and Netherlands into a new company called International Petroleum Corporation (IPC). IPC will have a free cash flow of about 5-10 MUSD/month from the original assets, zero debt, good bank relations and a 100 MUSD credit facility already in place. IPC strategy is to use free cash flow and financing to acquire early life producing or slowly declining assets in stable jurisdictions to grow the company. Lundin Petroleum shareholders will get shares in IPC. Nemesia with 25% of the shares in the new company will also buy out Statoil from their holding, leaving Nemesia with up to 39% ownership of the new IPC. March 2016 The creation of IPC will be decided upon at a Lundin Petroleum Special General Meeting. Hypothesis: The Lundin Family, through Nemesia, struck a deal with the bond- and noteholders of GKP in July 2016 which means that a new (at that time not existing) Lundin related corporate entity will buy either GKP or farm in to Shaikan PSC in order to finance further development of Shaikan. The deal is temporarily secured financially for the GKP owners by the assets in Nemesia and for the Lundin Family through representation on the GKP Board of Directors. Nemesia will be the dominating owner of IPC and will together with other Lundin affiliated holdings control up to 45% of IPC, thereby being in a position to deliver this business proposal (the deal with GKP) to IPC and get it approved by IPC. Nemesia would also probably get a finder's fee. IPC would take over Nemesia's role in the deal and execute the take over/farm in. IPC and ShaMaran would eventually have to consider synergies and possibly merge. The only stumbling blocks I see are the definition of "stable jurisdictions", could KRG really fit into that definition?, and the willingness of the Lundin Family to expose themselves even more to the oil operations in Kurdistan. Do they see a future shareholder value? Risk is not an issue for the Lundins as long as the potential rewards outweigh the risk. Their motto is "No Guts, No Glory". This is a hypothesis and nothing more. But give it a thought, it fits a little too well with actual events and the time line. Trevanian. Thought i would share this, it is not something i have given any thought before, but it is of interest. CCC
20/3/2017
09:16
oil_investor: Time for some facts, I think. The GKP share price, on the pre-consolidation basis, was about 180p plus/minus between late 2010 and early 2014. During that period there was a spike in early 2012. That spike seems to coincide with certain corporate issues. Mark Leftly had covered certain of these in his article of 18 December 2011 in the Independent on Sunday. What wasn't in the public domain, at that time, was that GKP together with unnamed counterparties had agreed in November 2011 to hold a major meeting in China. The information about that meeting only surfaced when Harry Matovu QC (for GKP) revealed it in late February 2012 at a Court hearing connected to the Excalibur litigation. The meeting took place the following month - which was the earliest it could take place, as the barrister had explained to the Judge - and controversial Exit Awards were rushed through immediately following the meeting, to critical comment in the media. How many people knew about that Trip to China before the barrister revealed it? Who knows. There was no mention of it on the blogs. At the end of January 2012 John Gerstenlauer gave a very positive presentation in New York, which was reported that night on ADVFN by "HamishNY". John Gerstenlauer reportedly suggested a value of some 560p per share on Shaikan alone. That figure gives a total value somewhat above that given to Lord Justice Christopher Clarke by Simon Picken QC at the start of the trial in October 2012, upon which the c. 30% amount claimed by Excalibur had been based. But they are comparable. Less than three weeks after the New York presentation, Mark Leftly published another article in the Independent on Sunday on 19 February 2012. The following extracts are perhaps relevant: "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." The 128p figure mentioned in that article is less representative than the rather higher level indicated in the chart. The Trip to China took place the following month, the Exit Awards were rushed through...and nothing happened. The move onto the LSE Main Market did not occur, presumably because Excalibur secured funding for the trial. The share price then retreated to the 180p +/- range. It wasn't until much later that the real decline in the share price occurred. Indeed, both GKP Chairman Simon Murray and NED John Bell both bought shares in September 2013, just after Lord Justice Christopher Clarke had delivered his Verdict in the Excalibur case. They surely did so because they believed the shares were a good investment. John Bell paid just over 200p for his. But Anastasia Vvedenskaya then said a month later in October 2013 that when the CPR numbers were published they would require explanation. Despite the win over Excalibur, the share price did not rise as many had expected: Todd Kozel had said on 4 July 2013 that there was a "glass ceiling" on the share price because of the Excalibur trial. It seems that the content of the CPR was known by some in advance of publication. When the CPR was published on 13 March 2014, GKP did give the explanation which Anastasia Vvedenskaya had heralded. That explanation was given in the presentation by John Gerstenlauer and John Stafford, which formed a webcast which was announced that day in RNS. That webcast is still on the video hosting platform which is used by GKP but with the hyperlink to it removed so it cannot be watched. Shareholder questions about the CPR were addressed in April 2014 in a GulfTV episode, which is similarly no longer accessible. Putting those matters aside, the share price took a knock because of the CPR, despite the explanation, because of market perception that Shaikan was smaller than had hitherto been believed. The real slide in the share price is associated with the combined effect of that CPR and a number of events which followed. Whilst Shaikan successfully entered commercial production as planned, ISIS suddenly appeared almost as if from nowhere, and the Saudis and OPEC took actions which resulted in a slide in the oil price: by January 2016 the Brent price bottomed at just $26 a barrel. So at a time when Gulf was expecting to start receiving good revenue from the investment in the Shaikan production facilities, the MNR/KRG were not receiving good revenue from their oil exports and there were continuing problems with payments from central government in Baghdad. A problem at Akri-Bijeel made matters worse: instead of production ramping-up in line with plans agreed with the MNR/KRG, that did not happen and the GKP slice of the asset remained unsold. A major cash receipt from selling that asset therefore did not materialise, and to make matters worse the non-sale triggered the Book Equity Ratio problem, which led to the $250m Notes being secured on Shaikan. And instead of having done a Rights Issue at an earlier stage when the share price was much higher, in order to strengthen the cash position and at least partially counterbalance the borrowings, there was the 2016 restructuring. What will ultimately determine the value of GKP is surely the number of recoverable barrels and the oil price. Obviously the MNR/KRG needs to deal with the amounts due, maintaining regular monthly payments and making Cost Recovery payments when the oil price is stronger...but those things are axiomatic and apply worldwide. In the meantime, production is at c. 38,000 bopd via road tankering. Which is a very long way from the longer-term 440,000 bopd level which the company repeatedly said it was planning from the Shaikan Jurassic alone. Yet two members of the current board have said that Shaikan will produce "beyond the lifetimes of our grandchildren" and "for more than 100 years". The former head of exploration at Genel has said that Shaikan is "second only to Kirkuk" within Kurdistan. It seems improbable that Shaikan will be allowed to go nowhere...current production is essentially legacy production from what was planned by the previous management in 2012 etc. What will happen? We wait and see, I guess.
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 ?
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P:30 V: D:20170624 20:57:47