Gulf Keystone Petroleum Share Discussion Threads

[dudishes] 05/1/2017 15:23

G'day John, remember I commenced the short @ 151, announced on here.

You know it makes sense.

In your case, surprised you haven't hedged (although for quite a while, SB's would not touch).

Surely you agree, turnover is rather poor?

Dud

[dudishes] 05/1/2017 15:15

G'day, taken more shorts @ 138 as interest waining.

Pump it all you like, but check the exchanges, not good.

cheers

[gkphero] 05/1/2017 14:58

KRG BUDGET DEFICIT NARROWS DESPITE ONGOING FINANCIAL CRUNCH, OFFICIAL DATA SHOW.


Iraq, January 4, 2017.

The Kurdistan Regional Government’s (KRG) annual deficit narrowed in 2016, hovering near its lowest level in 4 years, but the improving fiscal outlook has done little to end the ongoing economic hardship in the country with thousands of government employees still waiting for their pay checks, according to official data which Rudaw has studied.

The government reports show that the budget deficit has shrunk around 99 percent since December 2015 when the first patch of painful austerity measures were launched amid strong public protests.

The deficit for the 12 months, ended in December, shrank to $63 million, according to the data. This is down from the staggering $4 billion a year earlier.

According to the government reports, the KRG has had an annual budget nearing $5,4 billion in 2016, about 80 percent of which is from oil revenues, while its spending has hovered over $5,5 billion, down from around $10 billion in 2013.

Stripped of its handsome $1 billion monthly budget by the central government in Baghdad since February 2014, the KRG has struggled to finance its near lavish spending on government employees whose number is estimated at above 1,3 million people.

Cancelling large national projects, reducing its annual expenditures and public subsidies, and most painfully, the heavily reduction of wages for vast majority of people on government payroll has temporarily shrunk the once double digit growth to almost -6 percent, following the plummeting oil prices coupled with a resource consuming ISIS war.

“The KRG has been successful in its austerity measures,” said a Kurdish economist Dr. Atouf Barzani who predicts that the austerity actions will improve the state of Kurdish finances in 2017.

“It will be a better year this year since government spending has shrunk tremendously while the outlook for oil prices seems to be promising, predicted to rise on global markets,” Barzani said.

According to Barzani, the government was faced with two options when the financial crisis began in mid-2014. “Either reducing the number of employees or reducing the wages for all employees. The KRG picked the second choice,” he added.

The data show that the KRG has also managed to pay back some $892 million in 2016 to national and international loan givers and deposited around $695 million to companies currently drilling for oil in the Kurdistan Region for their past work, although it still owes nearly $1 billion to international oil firms.

According to the official reports, the government has had a $1,2 billion of revenues in 2016 which it has received from other sources than the export of oil.

The KRG is currently exporting around 650,000 barrels of oil per day to the Turkish Ceyhan port where it is sold to international buyers.

rudaw

[gkphero] 05/1/2017 14:56

SP on it's way to £25 imo.

[ny boy] 05/1/2017 14:50

New wave of savvy buyers are here looking to make a fortune, looking good for a move to 200p then a fast move to 510p

[1712notout] 05/1/2017 14:45

A China state owned entity >75%
With a mandate to replenish reserves and keep 34 refineries busy
💲💲💲💲8178;💲ԁ78;🚀🚀;🚀🚀🚀🚀


China Petroleum & Chemical Corp., the world’s biggest refiner, is weighing a takeover of beleaguered Kurdish oil producer Gulf Keystone Petroleum Ltd., people familiar with the matter said.

The state-owned oil giant, known as Sinopec, is working with advisers and has made an approach to Gulf Keystone, said the people, who asked not to be named because the deliberations are private. The company may also attract other bidders, they said. No final decisions have been made and any talks may not lead to a deal, the people said.
💲💲💲💲8178;💲ԁ78;💲💲;🚀🚀🚀🚀
28640;🚀538;🈲㇑8;🈲🈲🈲🈲


Huge buy
Huge hold
All the best
😊😊😊😊8522;😊ԅ22;

[hearts1] 05/1/2017 14:38

1712 always holds till the bottom. #£170.00average.

[phillis] 05/1/2017 14:28

Simon
A profit is always a profit
I rarely sell at the top!
( or at the bottom)

[1712notout] 05/1/2017 13:54

Other bidders???
Hmmmm

I doubt that as per the addax acquisition the auction was held in private where sinopec beat Knoc

But whether the auction done in private or about to start

It's
Huge buy
And hold hold hold
All the best
🚀🚀🚀🚀8640;🚀Ԇ40;🚀

[1712notout] 05/1/2017 13:48

China Petroleum & Chemical Corp., the world’s biggest refiner, is weighing a takeover of beleaguered Kurdish oil producer Gulf Keystone Petroleum Ltd., people familiar with the matter said.

The state-owned oil giant, known as Sinopec, is working with advisers and has made an approach to Gulf Keystone, said the people, who asked not to be named because the deliberations are private. The company may also attract other bidders, they said. No final decisions have been made and any talks may not lead to a deal, the people said.
💲💲💲💲8178;💲ԁ78;💲💲;🚀🚀🚀🚀
28640;🚀538;🈲㇑8;🈲🈲🈲🈲

[daniel levi bmd] 05/1/2017 13:42

FYI

Ascent Resources. Potential 2017 mega rise! Watchlist Now!

Dan
x

Great read. Enjoy

[carla1] 05/1/2017 13:40

Oh la la laShe gonna BLOWWWWW

[simon_64] 05/1/2017 13:19

Looking tidy again now after last shorting attack, they should be done for now easier pickings elsewhere for the scum now Chrimbo is over.

Missed out on your usual 5-10% there Phillis.

[1712notout] 05/1/2017 13:18

JB - sinopec is essentially a state owned business
75% held by government
A natural buyer of gkp reserves
Be nice if thy have a fight or have had one 😊😊😊😊8522;😊ԅ22;



-----------
Sinopec has plans for the money it’s raising. It’s eyeing a takeover of London-listed Gulf Keystone, a financially troubled oil company focused on Iraqi Kurdistan, according to Bloomberg. That points to Sinopec’s urgency in replacing its aging oil reserves. In 2015, proved developed oil reserves using equity method accounting fell to 1.75 billion barrels from 2.53 billion at the start of the year.

Of these, the Shengli oilfield, its largest source of production, began pumping oil in 1964 and 90 percent of its output is now water, Morningstar estimates. The company has managed to keep its energy replacement reserve ratio close to 100 percent in recent years largely through discoveries of natural gas. These don’t much help its 34 refiners processing over half the oil China consumes.

Sinopec needs cash to buy global oil fields to fulfill its mandate of securing China’s energy security. The last buying binge was ill-timed. Sinopec may have a better eye for a bargain this time around.
----------------JB - sinopec is essentially a state owned business
75% held by government
A natural buyer of gkp reserves
Be nice if thy have a fight or have had one 😊😊😊😊8522;😊ԅ22;



-----------
Sinopec has plans for the money it’s raising. It’s eyeing a takeover of London-listed Gulf Keystone, a financially troubled oil company focused on Iraqi Kurdistan, according to Bloomberg. That points to Sinopec’s urgency in replacing its aging oil reserves. In 2015, proved developed oil reserves using equity method accounting fell to 1.75 billion barrels from 2.53 billion at the start of the year.

Of these, the Shengli oilfield, its largest source of production, began pumping oil in 1964 and 90 percent of its output is now water, Morningstar estimates. The company has managed to keep its energy replacement reserve ratio close to 100 percent in recent years largely through discoveries of natural gas. These don’t much help its 34 refiners processing over half the oil China consumes.

Sinopec needs cash to buy global oil fields to fulfill its mandate of securing China’s energy security. The last buying binge was ill-timed. Sinopec may have a better eye for a bargain this time around.
----------------JB - sinopec is essentially a state owned business
75% held by government
A natural buyer of gkp reserves
Be nice if thy have a fight or have had one 😊😊😊😊8522;😊ԅ22;



-----------
Sinopec has plans for the money it’s raising. It’s eyeing a takeover of London-listed Gulf Keystone, a financially troubled oil company focused on Iraqi Kurdistan, according to Bloomberg. That points to Sinopec’s urgency in replacing its aging oil reserves. In 2015, proved developed oil reserves using equity method accounting fell to 1.75 billion barrels from 2.53 billion at the start of the year.

Of these, the Shengli oilfield, its largest source of production, began pumping oil in 1964 and 90 percent of its output is now water, Morningstar estimates. The company has managed to keep its energy replacement reserve ratio close to 100 percent in recent years largely through discoveries of natural gas. These don’t much help its 34 refiners processing over half the oil China consumes.

Sinopec needs cash to buy global oil fields to fulfill its mandate of securing China’s energy security. The last buying binge was ill-timed. Sinopec may have a better eye for a bargain this time around.
----------------

[1712notout] 05/1/2017 13:12

JB - sinopec is essentially a state owned business
75% held by government
A natural buyer of gkp reserves
Be nice if thy have a fight or have had one 😊😊😊😊8522;😊ԅ22;



-----------
Sinopec has plans for the money it’s raising. It’s eyeing a takeover of London-listed Gulf Keystone, a financially troubled oil company focused on Iraqi Kurdistan, according to Bloomberg. That points to Sinopec’s urgency in replacing its aging oil reserves. In 2015, proved developed oil reserves using equity method accounting fell to 1.75 billion barrels from 2.53 billion at the start of the year.

Of these, the Shengli oilfield, its largest source of production, began pumping oil in 1964 and 90 percent of its output is now water, Morningstar estimates. The company has managed to keep its energy replacement reserve ratio close to 100 percent in recent years largely through discoveries of natural gas. These don’t much help its 34 refiners processing over half the oil China consumes.

Sinopec needs cash to buy global oil fields to fulfill its mandate of securing China’s energy security. The last buying binge was ill-timed. Sinopec may have a better eye for a bargain this time around.
----------------

[1712notout] 05/1/2017 13:01

But do make sure you follow the bent piglet and his complicit greedy pals and join them when they have constructed a huge trough to feast in

And do it before the bell rings and dinner is served

Huge buy
Huge hold
All the best
😂😂😂😂8514;🚀Ԇ40;🚀🚀;🚀🚀

[gkphero] 05/1/2017 12:51

Never vote for an MP from the middle east imo.

[gkphero] 05/1/2017 12:48

In case anyone missed it -

[gkphero] 05/1/2017 12:28

Who works for the banana outfit that is SOTHICK?

[gkphero] 05/1/2017 12:24

No, I'm not.

[gkphero] 05/1/2017 12:03

SP still rising.

Everyone knows why.

[1712notout] 05/1/2017 12:03

Indeed JB
Lot of money made defrauding retail
Like has happened here
But retail can still buy
Most won't
Huge buy
Huge hold
All the best
🚀🚀🚀🚀8640;🚀Ԇ40;🚀