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GKP Gulf Keystone Petroleum Ltd

148.40
3.40 (2.34%)
Last Updated: 10:54:41
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Gulf Keystone Petroleum Ltd 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
  3.40 2.34% 148.40 147.70 148.40 148.40 142.20 142.80 445,992 10:54:41
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Oil And Gas Field Expl Svcs 123.51M -11.5M -0.0394 -50.76 584.21M
Gulf Keystone Petroleum Ltd is listed in the Oil And Gas Field Expl Svcs sector of the London Stock Exchange with ticker GKP. The last closing price for Gulf Keystone Petroleum was 145p. Over the last year, Gulf Keystone Petroleum shares have traded in a share price range of 81.70p to 155.60p.

Gulf Keystone Petroleum currently has 292,105,000 shares in issue. The market capitalisation of Gulf Keystone Petroleum is £584.21 million. Gulf Keystone Petroleum has a price to earnings ratio (PE ratio) of -50.76.

Gulf Keystone Petroleum Share Discussion Threads

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DateSubjectAuthorDiscuss
26/5/2019
10:22
Parliament to Elect Kurdistan President on Tuesday

Basnews English 26/05/2019 - 10:56 Published in Kurdistan
Parliament to Elect Kurdistan President on Tuesday

Tagged under en
ERBIL — The Parliament of Kurdistan Region is set to convene on Tuesday this week and vote on the next president of Kurdistan Region.

According to an official document, a copy of which is shared with BasNews, parliament presidency has called on the lawmakers to attend the session on 28th May at 11:00 Erbil Time.

Previously, it announced names of five people as approved candidates for the presidential race.

The highest chance is seemingly for Nechirvan Barzani, the current Prime Minister of Kurdistan Region who is nominated by the Kurdistan Democratic Party (KDP).

Based on a previous political agreement, Patriotic Union of Kurdistan (PUK), Change Movement (Gorran), and other parliamentary factions representing religious and ethnic minorities support the KDP nominee to take the post for the next four years.

This is the first time Kurdistan Region president is being elected by the parliament and not a public vote.

beernut
26/5/2019
09:35
How can you write a brief history of GKP without mentioning the BER write down that no one knew about other than Sami Zouari and Sothick taking up Bonds and shorting GKP immediately after the CC that was, we thought going to herald the rebirth of the share price ? Sothick knew better and it went to 1p. How much has Sothick already made from GKP? Their bond risk is probably a free ride.
nestoframpers
26/5/2019
06:36
Wikipedia.
Brief history of GKP.
Seems everyone wants a piece of us.

Takeover speculation and litigation
Edit

In late 2011, Exxon Mobil announced it had signed exploration contracts for six blocks in the Kurdistan Region of Iraq, including one block adjacent to the Shaikan block.[11] An article appeared in The Independent on Sunday on 18 December 2011 suggesting that a number of major oil companies were potentially interested in Gulf Keystone's discovery. A further article in that publication on 19 February 2012 stated that ExxonMobil had looked closely at Shaikan.[12] Its executive chairman, Todd Kozel, said "the one-time minnow's growth has been so extraordinary in the past two months that [it] would comfortably qualify for the FTSE 100 blue chip club ... We're not that little kid in short-pants anymore..." He claimed that the £3.5 billion market capitalization was due to the "world waking up" to the vast oil reserves the company possessed and "hoped that small private investors...some of whom have risked their life-savings on GKP, would not be squeezed out by the big city firms".[12]

The American company Excalibur Ventures secured third-party litigation funding for a high-profile trial in the Commercial Court in London (which Excalibur would subsequently lose) for around 30% of Gulf Keystone's key assets in Kurdistan, to which they claimed they were entitled because of their introduction of Texas Keystone to the opportunities which existed in Kurdistan.[13] This impending trial acted as a further dampening effect upon investor sentiment. It was not until December 2013 that the Excalibur claim was fully dismissed by Lord Justice Christopher Clarke in a Judgement which was highly critical of Excalibur and also of the manner in which the "gargantuan in scale" litigation had been conducted against both Gulf Keystone and Texas Keystone.[14]

Subsequent to removing the threat posed by Excalibur and moving toward the achievement of the "Phase Zero" production level of 40,000 barrels per day of production,[5] disruption in the region caused by ISIS[15] and the difficulties experienced by the Kurdistan authorities in paying fully for the oil being exported by three Kurdistan operators including Genel as well as Gulf Keystone[16] continued to adversely affect market sentiment.[1]

On 31 March 2015, GKP's chairman Simon Murray, formerly of Glencore and appointed in 2013, resigned amid a funding crisis at the company. He ignited fresh speculation about corporate activity involving Gulf Keystone when he revealed that the company had been involved in commercial talks with other oil companies. The company faced severe difficulties in collecting payments for oil from the Kurdistan government.[17]

beernut
25/5/2019
21:40
Broadford - do you still see your mate Renardargente? The Aberdonian bringer of misery...lol
0ili0
25/5/2019
21:26
Broadford, I agree, notwithstanding the views of the company I too believe they will need additional funds down the line. However, with the constant delays perhaps they are deliberately buying themselves time:-)
bigdog5
25/5/2019
19:09
Headroom $500m as of march 27Probably sufficient :)
chinese_takeaway
25/5/2019
18:54
bigdog,

I was castigated when I expressed the opinion that, contrary to the CEO's view that the company was "fully funded" to reach their Nbopd finishing line, you needed your head examined if you believe that.

That's still my view - and I'm not alone...

You know what they say: One man's issue is another's opportunity.

Opportunity knocks!

Wonder what the cash pile looks like now?

broadford bay
25/5/2019
18:15
Are the Sothick guys ex JP Morgan or Captain Morgan?
0ili0
25/5/2019
17:16
I see the executive are still filling their bank accounts without sharing the spoils that they never earned...
lippy4
25/5/2019
16:53
Is BigDog4 as well informed as you BigDog5?
bocarugga85
25/5/2019
15:22
Sorry meant bigdog
ammu12
25/5/2019
15:22
Billy boy are you holding any shares ?
ammu12
25/5/2019
14:48
Brent 69 booommm
ammu12
25/5/2019
14:40
It's like magic Positive post Bash turns up Like buses
chinese_takeaway
25/5/2019
14:35
It's very unlikely the MNR will ever allow for a sale as it wouldn't suit their position.
bigdog5
25/5/2019
14:30
Broadford, the fire hydrant checker is as clueless with numbers as they are on the reality and big picture. As we've seen before the MNR have a history of wiping out their debts when new arrangements have been "negotiated".

Well H, pumps and workovers are taking an incredibly long time. More "issues"?

bigdog5
25/5/2019
14:30
By 2021 Gulf will be net cash $ 650mThese based on 65 2019 67.5 2020 70 2021 BrentFor CNPC this would a no brainer increasing their reserves 20% overnight.Did they win the auction? Highly likely as they were clearly given tech DD access beyond the data room.Ashurst LLP were engaged by Gulf last year to do the legals on the sale.One of the very top energy m and a firm's in the world.
chinese_takeaway
25/5/2019
13:09
I see the slurryman on another board claiming that: "...the current amount “owed” to GKP for past capital investment is stated as c.$500 million."

P19 of the the Financial Strategy actually states, however, that: "...ca US$500M petroleum cost pool (gross) available for recovery."
And gives the current R-factor as 0.74.

The annotation to the R-factor (bottom of page) states:
"Cumulative revenue of ca US$840M vs. cumulative costs of ca US$1,140M as at 31 December 2018."

Oh, and on same sheet, at LHS under Clean Balance Sheet, is stated: "Immaterial revenue arrears".

So, can we can take that to mean that Cumulative Costs Still to be Returned to GKP are $(1140M - 840M) - or $300M?

As per end-Dec-2018 of course.

broadford bay
25/5/2019
11:21
Nah you forgot the ops cost which is the lowest in the world....As I said good luck with that short
ammu12
25/5/2019
11:06
Take off the $21 for transport and poor quality oil and in Gkps world Brent is $48.
Even less given the KRG blend discount to Brent. Once you subtract the infrastructure tax you can see why no one wants to buy this dog.

stockport loser
25/5/2019
10:45
If Brent was say 50 not when 69....Good luck with that short
ammu12
25/5/2019
08:48
Next week share price prediction anyone ?I'll go with 260...
ammu12
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