Gulf Keystone Petroleum Investors - GKP

Gulf Keystone Petroleum Investors - GKP

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Gulf Keystone Petroleum Ltd GKP London Ordinary Share BMG4209G2077 COM SHS USD1.00 (DI)
  Price Change Price Change % Stock Price Last Trade
-2.80 -1.59% 173.60 16:35:01
Open Price Low Price High Price Close Price Previous Close
178.00 173.20 178.00 173.60 176.40
more quote information »
Industry Sector
OIL & GAS PRODUCERS

Top Investor Posts

DateSubject
22/4/2021
22:13
bigdog5: Tonight's headline. highlander7 under one of their many avatars owns up and comes clean:- "the trouble in the past was that naive investors , many having read reports in the press re GKP , then read bboard ramping , jumped on board then got burned. I have a fairly modest price in mind and will start off loading in tranches when that is reached". h7 owns up to being a liar and has been intentionally misleading others with his continual ramping? h7 has known all along that the Kozel barrels are fantasy just like a few of us have been saying for years?
22/4/2021
17:00
the patriotic irishman: REPEAT LSE: surreyscot Posts: 2,425 Price: 176.40 Strong Buy Today 13:55 RE: Bizarre the trouble in the past was that naive investors , many having read reports in the press re GKP , then read bboard ramping , jumped on board then got burned. I have a fairly modest price in mind and will start off loading in tranches when that is reached. well afaik you don't get assigned post numbers per se on LSE like you do on here BD so I suspect the genuine (I do not post on advfn) exiled doppelganger is suffering from yet another one of his more senior moments given he's had such a very long and tiring day trying to control his imaginary trolls on all his positively bias only blogs 😉 300p STRONG BUY huh 🤦‍a94;️ with a now 'modest' exit price eh 🤔 seriously YRCNMIU 😂 😂 😂
22/4/2021
16:24
bigdog5: Has highlander7 finally woken up and has realised that the Kozel BS barrels don't exist just as myself and a few others have been telling you clueless morons for years? highlander7 under one of their many other avatars writes:- "the trouble in the past was that naive investors , many having read reports in the press re GKP , then read bboard ramping , jumped on board then got burned. I have a fairly modest price in mind and will start off loading in tranches when that is reached". Now lets just examine those his points. Were these investors naive? They listened and believed in what Kozel, JG and the rest of the BoD kept telling them in every Presentation, RNS and announcement. So is highlander7 now saying that Kozel, JG and the BoD were misleading shareholders including the Institutions? Is highlander7 now saying that the data that was provided to such parties as ERCE and others, examined by them and had reports compiled from said data was wrong? So how is it possible that these "naive" investors would have known? Is highlander7 now saying he wasn't naive and knew the data was incorrect? But h7 was and still is one of the main rampers. Is highlander7 now stating that there were posters on bb's that knew the data was wrong but were deliberately ramping up the share on the back of incorrect data? Why does highlander7 have a modest price that he will start unloading his shares at when he is still ramping this share and stating the Kozel barrels exist. So are we to believe that highlanderr7 was deliberately misleading with his posts?
22/4/2021
15:38
the patriotic irishman: LSE: surreyscot Posts: 2,425 Price: 176.40 Strong Buy Today 13:55 RE: Bizarre the trouble in the past was that naive investors , many having read reports in the press re GKP , then read bboard ramping , jumped on board then got burned. I have a fairly modest price in mind and will start off loading in tranches when that is reached. naïve investors getting burnt 🤔 bulletin board ramping 🤔 fairly modest exit price 🤔 geez the genuines might now think of your 300p STRONG BUY ramps as being more than just a little BIZZARE 😉 eeh bah gum McSlurrey its been good in ere of late - rattle rattle 🤡
20/4/2021
22:33
nestoframpers: ERBIL (Kurdistan 24) – The head of the Kurdistan Regional Government (KRG) received the new head of Japan's consular office in Erbil on Tuesday, focusing primarily on efforts to facilitate new private investment from the economically robust Asian nation. During the meeting, Kurdistan Region Prime Minister Masrour Barzani congratulated Nikhiro Arakawa on the assumption of his post, and "expressed his hope for his success in his duties in a way that contributes to strengthening relations between the Kurdistan Region and Japan in various fields." The meeting was also attended by Kei Toyama, head of the local office of the Japan International Cooperation Agency (JICA), which runs various ongoing development projects in the Kurdistan Region and Iraq. Barzani thanked Japan for all the past humanitarian aid provided by Tokyo, especially through the JICA, and stressed Erbil's "readiness to receive Japanese investors." In early March, Japanese Ambassador to Iraq Suzuki Kotaro met with Barzani along with the new Consul General's predecessor, Yoshiko Nagayama. Read More: Top Japanese diplomat praises Kurdistan Region’s role as ‘factor of stability’ Earlier on Tuesday, the Kurdish leader told European diplomats that the Kurdistan Region enthusiastically supports investors who want to do business in the region. Read More: KRG facilitates foreign, domestic investment in all sectors, PM Barzani tells European diplomats Barzani became Prime Minister of the Kurdistan Region in July 2019 and among his top priorities has been modernizing and diversifying the local economy. Editing by John J. Catherine
20/4/2021
15:49
highlander7: Nufc9 it sounds like they are all on yet another campaign to put off potential new investors ...so good news is on the way.
15/4/2021
10:36
habshan: New Head of Investor Relations. Aaron Clark - moved over from Petrofac at the end of March. Let's see if he makes a difference. hTTps://uk.linkedin.com/in/aaron-clark-b374733a Aaron Clark - Head Of Investor Relations - Gulf Keystone ... hxxps://uk.linkedin.com › aaron-clark-b374733a United Kingdom · ‎Head Of Investor Relations · ‎Gulf Keystone Petroleum View Aaron Clark's profile on LinkedIn, the world's largest professional community. Aaron ... Gulf Keystone PetroleumUniversity College London, U. of London.
25/3/2021
10:11
hydrocarbon1: Hi to all you real GKP investors. I said hello a couple of weeks ago to let you know I am back in after having sold near the top of the rise from £8 share sale news. Of course we never got to £8 but an average of 3.75 when I sold suited me fine. I have been gone many years but feel the time is right now to get in. I have been through the high tech stuff the last few years and now reinvesting here. Some things never change we have real investors and people spending much time telling why we should be getting out. Can you imagine how sad a life it must be when you spend a great part of your time trying to smash peoples hopes of gaining a bit better life from a hopeful investment. They are definitely not here to save us! I do not engage with these people, even if they are getting paid to do this it does not seem like a very rewarding endeavor, more to money at stake. When younger I did spend a bit of wasted time engaging with them. Now I let the facts speak for themselves. Also do listen to some investors/analysts with proven track records. Anyway here strong and quite a large investment envisioning good things to come. Oh the filter is a wonderful thing. Good to be back.
24/3/2021
16:39
nufc9: HAHAHA. YEP. DOGGY HAS FOR 10 YEARS SAID THAT EVERYONE IS LYING. ALL THE PROFESSIONAL OIL MEN WHO HAVE BEEN IN THE INDUSTRY FOR YEARS...... THEY'RE ALL LYING SAID DOGGY... AND BECAUSE HE CARES SO MUCH ABOUT US PRIVATE INVESTORS, HE HAS DECIDED TO WASTE A LARGE PART OF HIS LIFE WRITING POSTS ON AN ANONYMOUS BULLETIN BOARD.... SO THERE IS EITHER TWO OPTIONS: 1) HE IS SUCH A LOVELY AND CARING MAN THAT HE CHOOSES TO, FREE OF CHARGE, SPEND HIS LIFE TELLING EVERYONE TO SELL THEIRS SHARES/NOT INVEST BECAUSE HE GENUINELY CARES ABOUT US. HE DOESN'T WANT US TO LOSE MONEY.... BUT HAS NOT ACTUALLY TRIED TO DO ANYTHING OF VALUE IN THE REAL WORLD... LIKE TAKE THOSE PEOPLE HE SAYS ARE LYING TO COURT... NOPE.. JUST WANTS TO SIT AT HOME AND KEEP WARNING PRIVATE INVESTORS NOT TO BUY GKP SHARES...(BIT WEIRD) 2) EVERYONE KNOWS THE TRUE VALUE OF GKP (£10+) AND HE IS JUST TRYING TO SPREAD NEGATIVE SENTIMENT FOR THE BENEFIT OF WHO KNOWS WHO... ITS NOT HARD TO DECIDE WHICH OF THE ABOVE CRITERIA FITS THIS AS*HOL*S
16/3/2021
21:55
nestoframpers: here you go Jessie . RIP Bob oil_investor11 Jul '17 - 08:06 - 543645 of 626240 0 23 4 Oh dear. A number of people on here are working themselves into a rage because they can't get a grip on what actually happened with GKP. So let's try to clarify things a bit. Todd Kozel obtained the Shaikan PSC thanks to the Texas Keystone connection. The acreage had originally been with DNO in a sort of "land grab" which the KRG had to rectify with acreage freed-up. RAK wanted to take GKP over, presumably including the Shaikan PSC which hadn't been put into GKP at that point. TK left the PSC floating loose - Lord Justice Christopher Clarke thought that made perfect sense - and the RAK takeover was not completed. Shaikan had a 75% to 80% chance of being a dud. This was explained in detail to Justice Clarke. The high chance of failure was due to no closure being identified on the Western flank - so even if the Jurassic were on the oil migration path, the oil might never have been trapped. What wasn't known was that there was a massive slip fault to the West, within the Sheikh Adi block which wasn't GKP's acreage at that time, and the Shaikan structure could retain oil. GKP tried to farm-down their 80% operating stake, to reduce risk. Presumably they would have gone down to about a 25% to 40% stake if another E&P had given them a free carry. But no deal could be done, and GKP had to fund their 80% themselves. The only reason why GKP has 58% today is that no farm-down deal was done: otherwise it would probably be half that, or less. Against all the odds, the well came in. A Jurassic gross pay interval of over 1000 metres was discovered, with c. 350 metres of net pay. The Jurassic oil was highly mobile under natural reservoir conditions. In addition there were huge volumes in the Cretaceous and in the Cretaceous flanks, and also a lot of light oil etc. in the Triassic. As the Appraisal wells were drilled, the volumes of Oil In Place increased, as independently assessed by Ryder Scott and Dynamic Global Advisors. Extensive specialist studies were also conducted on the fracture system, which was found to be very extensive. An increasing range of independent P90-P50-P10 figures were given, the last of which was 13.7 billion barrels P50 Oil In Place. But the P10 (and P5 etc) numbers were higher, and it has been said that oil in the Cretaceous flanks, which would probably not flow without the use of Enhanced Oil Recovery, were not included. Both John Gerstenlauer and TK expressed the view that there might be more than 13.7 billion barrels Oil In Place in total. Sophisticated pressure testing conducted at Shaikan-1 over a 3-month period indicated a Connected Volume in the Jurassic of c. 13 billion barrels: the KRG and the 20% operating partner MOL approved the release of that number in July 2013. The Recovery Factor was considered by GKP to be in the 20% to 35% range, something like that. Such a figure was broadly in line with international averages. Testing suggested that the Jurassic reservoir was showing dual-Porosity responses, which means that both the matrix and the fractures were releasing oil. The fractures were extensive, with a network of small cracks as well as millimetre- to centimetre-scale dissolution slots, where the cracks had been opened-up by natural acidic processes. GKP currently confirm a dual-Porosity system, and GKP have described the Jurassic as a gas-drive system. As the Jurassic matrix releases oil into the lower-pressure producing zones some of the dissolved gas comes out of solution and that provides natural reservoir drive. The GKP expectation in 2012-13 was that the Jurassic alone would potentially produce 440,000 bopd. That sort of volume would be super major territory. In his 2010 video interview with Proactive Investors shortly before Excalibur launched their ultimately ridiculed claim for 30% of the Shaikan asset, John Gerstenlauer made it pretty clear that the sale of GKP was the strategic intention, though he said the company would continue to operate as if it was going to carry on as operator. There had already been takeover rumours in the media at that point. The KRG approved a Field Development Plan, though JG publicly said there was a second FDP which described what would potentially happen if GKP were sold to a supermajor etc. It is possible that Spencer Freeman may have seen or been told something of that more ambitious FDP, because he alluded to it in one of his tweets before being silenced by Memery Crystal in the High Court with his tweets being deleted. Most of his tweets were saved. GKP, MOL and the KRG agreed to move forward with the more modest FDP and GKP decided to borrow the money to find the production facilities rather than to issue equity and dilute the shareholders. That decision was not opposed by the shareholders at the time, it seemed the sensible thing to do. Takeover rumours continued, and Harvey Rands of Memery Crystal had told Alex Panayides of Clifford Chance (who were acting for Excalibur Ventures) around 21 February 2012 about a massive Trip to China by GKP and its lawyers etc. which would be taking place in March 2012. Details of some of what HR told AP and Simon Picken QC can be found in the official Court transcript of the procedural hearing at which it was raised. Unsurprisingly perhaps, AP and share price were then better able to obtain the Trial funding for Excalibur presumably because the corporate Trip to China had been exposed? The revelation by HR concerning that Trip confirmed something of what Mark Leftly had published on 18 December 2011 in The Independent on Sunday. Going back a step, the share price had risen in early 2012, from a broadly established level of maybe 190p, to something above double that price. But it is now apparent that a number of persons including Harvey Rands, Todd Kozel and John Gerstenlauer had known about the Trip to China when the share price rose. That rise did not take place when Mark Leftly published his article: MikeyAdmin gave an analysis of that on iii not long afterwards and what he said is supported by evidence when one is looking back at the situation. Broadly, GKP was valued at that time at something around £1.5 billion, exceluding the early-2012 rise. So GKP was funded-up for the so-called Phase Zero which aimed at some 40,000 bopd from Shaikan. There was argument about Corporate Goverance; there was a suggestion in June 2013 that this Governance move was really to get new independent figures for the Shaikan volumetrics, because the existing figures were considered to be too closely associated with TK. Fresh figures would, it was suggested, increase confidence in the asset and hence lead to a better ultimate price. But the Corporate Governance issue was publicly presented as something to do with TK's remuneration. So the key issues were (a) defeating Excalibur, so as to get clean title, (b) establishing c. 40,000 bopd at Shaikan and (c) what Shaikan was worth in an M&A deal. This is why, if one looks at what the broker analysts were saying at the time, GKP was seen as very valuable. It took a lot longer to deal with Excalibur than had been expected. It was three years from the issue of the Claim in December 2010 to the award by Justice Clarke of clean title with no appeal on 13 December 2013. The Excalibur issue delayed the intended move to the Main Market. When the move to the Main Market finally came, the Good Corporate Governance board with Simon Murray as the Chairman was in place. SM invested significantly in GKP shares and so did John Bell, both doing so shortly before clean title with no appeal was awarded by Justice Clarke. They clearly thought in late 2013 that GKP was a good investment. What happened next contained eight main components: (a) Shaikan operations proceeded successfully, with the 40,000 bopd facilities being completed and the Jurassic reservoir being brought onto commercial production as planned; (b) something prevented GKP selling their 20% operating stake in the adjacent Akri-Bijeel oilfield. It is unclear what that was, although it is possible that potential purchasers saw some disappointing Akri-Bijeel results which were not in line with earlier positive expectations; (c) the non-sale of the Akri-Bijeel stake left GKP with some $350 million to $500 million less cash than expected, that being the amount they had publicly anticipated receiving from the sale; (d) the non-sale of the Akri- Bijeel stake led to the BER issue and certain hedge funds getting their Notes secure against the Shaikan asset. This apparently put GKP into a weak negotiating position in 2015-16 regarding the Restructuring; (e) the sudden rise of ISIS created massive negativity regarding the region; (f) the decision of the Saudis to increase their market share of world oil greatly reduced the oil price and GKP's income; (g) the KRG were unable to pay the back-costs owed to GKP, though they did make some inroads into the arrears and: (h) ERC Equipoise published a Competent Person's Report for Shaikan which was described by GKP as a "baseline", "conservative" and "as seen through the steely gaze of auditors". These so-called baseline numbers were lower than had been anticipated by the market, but they were still very substantial and Shaikan was described by Genel's Exploration Director as "second only to Kirkuk". ERCE had included quite considerable upside in the CPR and once the market had digested the CPR numbers, the negative effect upon the share price was not particularly large. So when Jon Ferrier joined GKP in June 2015 the share price was, in the circumstances, tolerable. JF appeared optimistic, and he was certainly positive about the revised CPR which was published about three months after he joined. By the time of the Restructuring announcement in July 2016 TK had been gone as the CEO for more than a year and had been gone as Chairman for fully two years. There was a new board in place with a new Chairman, a new CEO, a new CFO and new NEDs. The Restructuring reduced the existing equity stake to 5% but by participating in the Open Offer at the 20-for-9 entitlement level without going for an oversubscription allocation, that increased to 14.5%. Those qualifying shareholders who successfully oversubscribed ended up with more than that; it varies from case to case, but those who oversubscribed and who also bought more shares at the low prices actually experienced far less dilution than might appear to be the case. Though putting in more money was not something that everyone could, or would, do. Was the Restructuring handled professionally? No, because it was leaked. But the end result is that GKP has no net debt. With ISIS now effectively removed from the vicinity, one of the key negatives is gone. But the oil price is still an issue. World oil consumption is running at more than ten times the current discovery level, and has never been higher. The 100 million bopd consumption level is now close. GKP, MOL and the KRG are close to announcing the step-up plans to 55,000 bopd at Shaikan. The c. 850,000 bopd capacity 36-inch Feeder Pipeline which runs from Shaikan to the main export pipeline is now starting to carry oil from Atrush. Perhaps JF will do what he has said he would do, but which he hasn't so far done: restart communication with shareholders. And there are signs of increasing corporate activity involving the Kurdistan oil sector. The ultimate commercial value of Shaikan involves three key factors: (a) the oil price, (b) the level of Reserves and Resources and (c) the potential level of production with the associated capex and opex figures per flowing barrel.
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