Gulf Keystone Petroleum Share Discussion Threads

[oil_investor] 10/10/2016 00:14

For heaven's sake.

What on earth is he going on about NOW?

Coming to regret things?

For quoting from the GKP news release of 11 August 2011 and the CPR of 30 September 2015?

It beggars belief, it really does.

[oil_investor] 10/10/2016 00:05

owdbuffer: that must be the hanging wall, it can't be the footwall?

[tess_tickle] 10/10/2016 00:04

She's forming a splinter group.

[owdbuffer] 09/10/2016 23:59

Do you realise that Cashti's ex wife has had it away with £250 million of your money.

Most of it she has wasted, applying laminate flooring to her walls.

Disgraceful.

[oil_investor] 09/10/2016 23:56

250 British troops being deployed to Mosul.

[oil_investor] 09/10/2016 23:49

For heaven's sake.

I am not going to engage in any direct discussion with "Nicebut" but I will nonetheless address his points.

Sheikh Adi 1B was drilled to 3780m in the Triassic. GKP did wireline logging and took core samples, and DGA assessed the Oil In Place by integrating that with the 2D and 3D seismic together with regional data. That gave a P90 of 1 billion barrels OIP, a P50 of 1.9 billion barrels OIP, and a P10 of 3 billion barrels OIP.

There was no "duster".

In the 30 September 2015 CPR, ERC gave OIIP (Oil Initially In Place) on a Best (= P50 basically) of:

Discovered Oil: 2.169 billion barrels
Undiscovered Oil: 0.427 billion barrels
Total = 2.596 billion barrels

(out of interest, the High Case figure was 3.557 billion barrels OIIP)

So we see that the ERC figure, in the CPR, is actually higher than the DGA figure.

The Shaikan Transient Drainage Radius was measured, for the Jurassic, as 6 miles on a 3-month test. That figure was given by John Stafford in the July 2013 PESGB presentation in London. The Sheikh Adi FOOTWALL is merely the Western end of Shaikan, the only thing separating them is a pencil line on a map. It's all the same thing. Therefore Shaikan-4 will draw oil from Sheikh Adi as well as from Shaikan. The well doesn't "know" it's a Shaikan well lol, it doesn't care!

Unitisation of Sheikh Adi and Shaikan is unavoidable IN THE FOOTWALL.

[cutthecagain] 09/10/2016 23:42

That extends to his threats on other stocks as well.

[biggerthus] 09/10/2016 23:32

Bob, well you just said it I think.

And yes - cowboys. Can't say I blame anyone for trying, but I don't personally think anyone would waste the time & money involved, let alone theor reputation without a serious sponsor and/or mentor behind them.

Nor would currently employed senior management risk the same without similar assurances imo. So just who is the sponsor / mentor ???

RAK or related party, again? Or is this a retirement project ? ;-)

What's clear is that someone out there has enough influence/clout to give all these people enough confidence to sign up to the idea & then flog it round the city.

---

"advanced insights"...about what, exactly? The fracture porosity?

Before getting to grips with the details of all this, and getting feedback from someone who has met them, we could immediately spot that this was Excalibur all over again.

[nicebut] 09/10/2016 23:19

Tony,

I remember having a conversation with someone here about SA1- Why GKP didn`t report back on it? It was a duster- Which seemed to upset a few. How come many millions of OIP were then attributed to a duster?

It was then handed back at vast cost too...

[oil_investor] 09/10/2016 23:01

lardner23 asks a reasonable question. I understand that no money was raised (possibly, some very small amount). There are obvious ways of dating it:

1. look for the latest "actual" date quoted within it. That's February 2016. All the later dates relate to "future events";

2. cross-reference it to when Crestal Energy published their (now removed) video on Vimeo. That latter date is easily found: March 2016. So the video was being prepared in about February 2016;

3. look for any reference to the Standstill Agreement. There is none, so it predates it. But whoever was involved in the presentation did know about the need to sort out the bonds. So this fits with #1 and #2 above, and:

4. if the identification of the third target as Sheikh Adi is correct, then it dates to some time around the negotiations with the KRG to hand back that asset. The hand-back was first announced on 17 March 2016 I believe.

[oil_investor] 09/10/2016 22:47

Oh dear.

cutthecagain is either desperate or has been fed a falsified Police report.

Serious stuff!

[lardner23] 09/10/2016 22:46

I said a couple of days ago the Crestal marketing blurb looked a bit old. Did they ever raise the £70/80m they were supposedly targeting two/three years ago? Did they even exist in any substantial way back then?

They and the MNR comment are a bit of a hoax/red herring, imo.

And if Ashti goes, I wouldn't get too gleeful; he will be replaced by a younger pliable clone. Ashti's rather old (b. 1948, I believe), which is beyond bus pass age, and has probably agreed with Massoud that it's time to sail into the west with his bank account numbers.

[oil_investor] 09/10/2016 22:45

BiggerThus: Transaction 2 fits Shaikan like a glove. The extra well, the expanded surface facilities, the $70m investment to move it forward..."advanced insights"...about what, exactly? The fracture porosity?

Before getting to grips with the details of all this, and getting feedback from someone who has met them, we could immediately spot that this was Excalibur all over again. No money...get someone else to put the money up...into a private company, the directors of which would get salaries and a big slice...well why would anyone go along with that? Why not invest directly in the asset?

Hours and hours were spent at the Pantomime discussing this very issue...it was obviously impossible to make it work. You have to have money to put in yourself. You can't say to someone "put in $150 million and we'll take salary from it, and when we flip the asset we'll take 50% of the gain" or whatever. On the one hand it seems hopelessly naive...but it wasn't seen that way by those behind it IMO.

btw I believe it dates to February/March 2016 from close reading of the details in it. So it preceded the Standstill Agreement.

[che sinonion] 09/10/2016 22:41

DS Chisholm has got you all bang to rights. An open and shut case.

Bish, bosh, dosh. Job's a good 'un.