Gulf Keystone Petroleum Share Discussion Threads

[beernut] 30/8/2019 07:17

DNO: Huge profit increase from Kurdistan oil fields; new drilling to start
Baxtiyar Goran Baxtiyar Goran | August 17-2018 10:45 PM
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DNO: Huge profit increase from Kurdistan oil fields; new drilling to start
According to Thursday's statement, DNO is "the most active driller in Kurdistan." (Photo: DNO)
Kurdistan Oil KRG DNO A+AA-
ERBIL (Kurdistan 24) – Norwegian oil and gas firm DNO announced an over 80 percent increase in this year's profit from oil fields it operates in the Kurdistan Region and also that it will soon begin drilling at multiple new wells.

“At around 35,000 [barrels per day (bpd)], Peshkabir [Faysh Khabur] has now leapfrogged into second place after Tawke among the Kurdistan fields operated by international oil companies,” read a cheery statement posted on its website on Thursday, which also said that the company will soon pay its investors their first dividends.

According to the statement, DNO is "the most active driller in Kurdistan," with three rigs operating across its licenses with a fourth to be added next month.

"Fast track development of the Peshkabir field is expected to boost output by another 15,000 [bpd] to 50,000 [bpd] by yearend.”

The statement said that DNO will commence operations at the Bashiqa field with another rig to be mobilized to start drilling the first well in September as part of a back-to-back, three-well exploration program.

The town of Bashiqa is located within territories disputed by the Kurdistan Regional Government (KRG) and Iraqi federal government. It is located 60 kilometers west of Erbil. The town itself is currently controlled by Iraqi forces, but the surrounding areas where the oilfields are located is under control of Kurdish Peshmerga.

DNO acquired a 32 percent interest in, and operatorship of, the Bashiqa license last year, joining ExxonMobil with 32 percent, the Turkish Energy Company with 16 percent and the KRG with 20 percent, the statement said.

Drilling at Peshkabir-8 well will start in 10 days, followed by Peshkabir-9 in October, and two newly completed wells, Peshkabir-6 and Peshkabir-7, will undergo final testing this month, said the statement.

"Kurdistan is back and so is DNO."

On July 30, DNO released numbers indicating its total output in the Kurdistan Region had surpassed its previously published targets.

Editing by John J. Catherine

[urals] 30/8/2019 05:44

Nestoframpers, see running total £12m on average $ exchange for past 8weeks about 1.22 then $14.5m approx spent so farhttps://twitter.com/Paul47293202/status/1167107485574017025?s=19

[stockport loser] 29/8/2019 22:47

Then nothing to prop up this mutt?

[urals] 29/8/2019 18:47

No nestoframpers 15 m dollars not pounds , its finished today Def tomorrow

[nestoframpers] 29/8/2019 18:43

Just £3 mill left in the buy back pot , initial tranche that is.

[urals] 29/8/2019 17:11

https://twitter.com/Paul47293202/status/1167107485574017025?s=19

[habshan] 29/8/2019 16:37

Date of purchase

29 August 2019

Number of ordinary shares purchased

176,445

Highest price paid per ordinary share

240.50 pence

Lowest price paid per ordinary share

240.00 pence

Volume weighted average price per ordinary share

240.44 pence

[urals] 29/8/2019 15:21

Chinese, AgreedI expect a buyback pre Sale too, and pre the next 10m tranche, indeed that's why the Programme was split. It may be very substantial imo 55m is 25% 110m 50%Somewhere in that range, at top end it will double takeover profits or double the dividend Lots to like :)

[urals] 29/8/2019 15:21

https://twitter.com/Whodareswins77/status/1167056754800283651?s=19

[urals] 29/8/2019 15:21

Agree Peeps might have noticed that in mkt buyback to settle options will be just over 5m in treasury, when 15m spent up by tomorrow.Around just over 10m to satisfy all director and staff options.Of course if you bought in half the shares in issue OFF market, the options o/s under plan rules would be just over 5m.. how many have they bought into Treasury???? :)))))

[mcfly02] 29/8/2019 15:19

HabscamScot,

You can always tell you are struggling 😂

[tess_tickle] 29/8/2019 15:11

PERMIANTLY OUT OF REACH

[shortsqueezer] 29/8/2019 14:20

Ok thanks. Missed that one.

[chinese_takeaway] 29/8/2019 14:19

https://twitter.com/Whodareswins77/status/1167056754800283651?s=19

[chinese_takeaway] 29/8/2019 14:19

Agree Peeps might have noticed that in mkt buyback to settle options will be just over 5m in treasury, when 15m spent up by tomorrow.Around just over 10m to satisfy all director and staff options.Of course if you bought in half the shares in issue OFF market, the options o/s under plan rules would be just over 5m.. how many have they bought into Treasury???? :)))))

[chinese_takeaway] 29/8/2019 14:18

This am 156k plus prob 21k

[shortsqueezer] 29/8/2019 14:17

No evident gkp buys as yet? Perhaps will report some more from yesterday?

[urals] 29/8/2019 14:08

https://twitter.com/Whodareswins77/status/1167056754800283651?s=19

[urals] 29/8/2019 13:58

Peeps might have noticed that in mkt buyback to settle options will be just over 5m in treasury, when 15m spent up by tomorrow.Around just over 10m to satisfy all director and staff options.Of course if you bought in half the shares in issue OFF market, the options o/s under plan rules would be just over 5m.. how many have they bought into Treasury???? :)))))

[nestoframpers] 29/8/2019 13:54

Can we have more posts about emojis please.

[urals] 29/8/2019 13:47

https://twitter.com/Paul47293202/status/1167026300873322496?s=19

[urals] 29/8/2019 13:47

Chinese, AgreedI expect a buyback pre Sale too, and pre the next 10m tranche, indeed that's why the Programme was split. It may be very substantial imo 55m is 25% 110m 50%Somewhere in that range, at top end it will double takeover profits or double the dividend Lots to like :)

[andywg] 29/8/2019 13:29

My post ended in a thumbs up emoji.For some reason it has come out as a question mark.