Gulf Keystone Petroleum Share Discussion Threads

[bigdog5] 04/7/2020 15:13

highlander74 Jul '20 - 05:43 - 609493 of 609511
0 8 1
"So now Broadfraud and the Doggie are claiming that huge sums of money have somehow “vanished̶1; at GKP. How could that be done when the Accounts are professionally audited ? It hasn’t, its more rubbish".

You never cease to amaze with your inability to comprehend. I doubt BB is suggesting for one nano second that money has "vanished" and I'm certainly not. However what I'm saying and I believe its the same for BB is for all the money that has flowed into the company there's been zero rewards for the shareholders apart from those that were able to "steal" the company for a pittance and those that have been able to trough on huge salaries and bonuses. Then of course the MNR have done rather well so it seems.

All that money after 11 years or so has provided a wipeout which entailed handing to the BH's 95% of the company, less than 1p share price and a couple of small dividends. When one compares that to the figures only a total moron such as yourself would believe they've had shareholder value.

[gkpinvestor] 04/7/2020 14:05

Chegwin bites the dust.

[0ili0] 04/7/2020 13:55

For over the road...Broadfraud, what total nonsense. The Balance Sheet shows nothing of the kind! Buffoon. Just what would Ren think of you...lol

[broadford bay] 04/7/2020 13:17

I have to make an apology...

In my post yesterday, in which I laid out the Investor Cash Consumed over the years, I omitted to include the $250M Bond Issue of 17th April 2014.
(This was actually recognized in the 2014 Accounts as $217,952,000 - as the $22M Warrants which were issued were also treated by the Co as part of the issue costs.)

The correct total of incoming funds therefore increases and is now approx. $1,593,688,000.

The Oil Sales Revenues remain at approx. $1,002,745,000.

So total monies consumed during the period were approx. $2.6Bn.

[highlander7] 04/7/2020 12:56

From LSE

===================================================================

Jon Ferrier said that GKP required Brent at $36 a barrel in order to be profitable in overall terms. Subtract the $21 a barrel Shaikan quality discount and the balance is $15 a barrel. So the total costs to run the company were being given by JF as $15 a barrel. That is very low by international standards.

Substantial cost reductions have subsequently been made in local, expat and London costs. How much the $15 is being reduced is unknown; perhaps to no more than $12 a barrel. If so, the profit point is $33 Brent. With the current Brent price at $42 a barrel, GKP would appear to have a decent safety net. The fixed $21 a barrel quality discount accentuates the impact of changes in the oil price. A Brent recovery to (say) $60 a barrel would generate significant profit for GKP.

The company and the brokers have all said that GKP is in a good position going forward. Major shareholders have increased their holdings. Few E&Ps are in such a position.

Big Oil ( and especially the Chinese) don’t determine things on Monday’s oil price. They look years (or decades) ahead, assessing where the price might be. Saudi Arabia requires ~ $50+ for its economy and thats the driver for the OP. They cannot survive on $42 Brent, that’s for sure. So we sit tight and wait.

[mcfly02] 04/7/2020 11:45

Good Morning Jamie 😃

I was speaking to some of my guys out there last night and this Turkish incursion is causing great concern amongst the locals.

It seems any of the neighbouring countries can send troops into Kurdistan and nobody stops them. Iranians Turkish Isis Iraqi basically anyone with a gun and rockets.

When you look at the situation in whole virus lockdown no jobs no money no prospects people running around with guns it's no wonder many are talking of fleeing to the west.

Turkey hold Kurdistan by the balls because it's the only exit route for the oil.

Powder keg.

[pensioner2] 04/7/2020 11:09

With US markets shut the Brent price closed at 6pm yesterday at $42.2. What's it going to open at on Monday as the US and China square off in the South China Sea and India and China square off in the Himalayas? Trump's route to victory might be going to get a bit confrontational.

[urals] 04/7/2020 10:19

#GKPUS hedge funds appearing top 4 holders increasing MM try to suppress market share price as big hitters fill up pre incoming takeover Hank Paulson legend M+A now holds few million shares via Bright SpherePrecision Capital another US Hedge appears all of a sudden:)) https://t.co/zMByo3zL4k

[urals] 04/7/2020 10:18

Using the current CPR on a Category 2 basis (2P etc) the Reserves and Resources are given by ERC Equipoise as follows (100% level, million barrels liquid recoverable):2P oil reserves 6222C oil resources 239Technically recoverable oil 150Prospective oil 65Condensate 150 (JF figure). =TOTAL 1226ERCE figure is over 1.2 billion barrels recoverable of liquid, varying from very heavy oil through light oil to very light condensate. Category 3 figure (3P etc) is much higher. Current 80% entitlement for GKP, the Category 2 figure for GKP is close to 1 BILLION BARRELS RECOVERABLE . In addition there is the c. $0.5 billion of net cash plus money owed to GKP going forward.An onshore oilfield of such size, at shallow to moderate depth, is worth a HUGE FORTUNE . MOL have said that such oil has an M&A value of $8 per barrel. With political resolution between Erbil and Baghdad, the value of GKP would be transformed.

[urals] 04/7/2020 10:18

Using the current CPR on a Category 2 basis (2P etc) the Reserves and Resources are given by ERC Equipoise as follows (100% level, million barrels liquid recoverable):2P oil reserves 6222C oil resources 239Technically recoverable oil 150Prospective oil 65Condensate 150 (JF figure). =TOTAL 1226ERCE figure is over 1.2 billion barrels recoverable of liquid, varying from very heavy oil through light oil to very light condensate. Category 3 figure (3P etc) is much higher. Current 80% entitlement for GKP, the Category 2 figure for GKP is close to 1 BILLION BARRELS RECOVERABLE . In addition there is the c. $0.5 billion of net cash plus money owed to GKP going forward.An onshore oilfield of such size, at shallow to moderate depth, is worth a HUGE FORTUNE . MOL have said that such oil has an M&A value of $8 per barrel. With political resolution between Erbil and Baghdad, the value of GKP would be transformed.

[urals] 04/7/2020 10:18

WHY THE TROLLS and CONDOG, BROADFRAUD ARE HERE 24/7The Shaikan structure has a footprint the size of Greater London, plus the side lobe and the Cretaceous flanks. It is riddled with fractures and voids which are full of liquid oil. The Jurassic oil column is 950 metres thick and there is another 350 metres in the Cretaceous and Triassic.ERCE valued the undiscounted 2P oil reserves at $3.067 billion. There are also massive 2C and 3P oil Resources, plus 200 million barrels of very light condensate. GKP said in 2014 that ERCE had only included 10% of the formations in the Reserves and that the Oil In Place “hadn’t gone anywhereâ€?.The 24/7 trolls like the BIGDOG and MCFRUITLOOP ,PATRIOTIC PADDY, BROADFRAUD etc etc try to persuade people reading the blog that GKP is not worth anything. But some of us know differently â€" and can prove it

[keithchegwin] 04/7/2020 09:33

"...spouting doom and gloom at a time when major Intitutions are clearly buying and the Company is in great shape financially"

His motives(s) appear to be (a) Put off any potential new buyers of shares (b) Discourage existing PI's from buying any more"

[urals] 04/7/2020 08:39

#GKPUS hedge funds appearing top 4 holders increasing MM try to suppress market share price as big hitters fill up pre incoming takeover Hank Paulson legend M+A now holds few million shares via Bright SpherePrecision Capital another US Hedge appears all of a sudden:)) https://t.co/zMByo3zL4k

[urals] 04/7/2020 08:13

Using the current CPR on a Category 2 basis (2P etc) the Reserves and Resources are given by ERC Equipoise as follows (100% level, million barrels liquid recoverable):2P oil reserves 6222C oil resources 239Technically recoverable oil 150Prospective oil 65Condensate 150 (JF figure). =TOTAL 1226ERCE figure is over 1.2 billion barrels recoverable of liquid, varying from very heavy oil through light oil to very light condensate. Category 3 figure (3P etc) is much higher. Current 80% entitlement for GKP, the Category 2 figure for GKP is close to 1 BILLION BARRELS RECOVERABLE . In addition there is the c. $0.5 billion of net cash plus money owed to GKP going forward.An onshore oilfield of such size, at shallow to moderate depth, is worth a HUGE FORTUNE . MOL have said that such oil has an M&A value of $8 per barrel. With political resolution between Erbil and Baghdad, the value of GKP would be transformed.

[urals] 04/7/2020 08:11

WHY THE TROLLS and CONDOG ARE HERE 24/7The Shaikan structure has a footprint the size of Greater London, plus the side lobe and the Cretaceous flanks. It is riddled with fractures and voids which are full of liquid oil. The Jurassic oil column is 950 metres thick and there is another 350 metres in the Cretaceous and Triassic.ERCE valued the undiscounted 2P oil reserves at $3.067 billion. There are also massive 2C and 3P oil Resources, plus 200 million barrels of very light condensate. GKP said in 2014 that ERCE had only included 10% of the formations in the Reserves and that the Oil In Place “hadn’t gone anywhereâ€?.The 24/7 trolls like the BIGDOG and MCFRUITLOOP ,PATRIOTIC PADDY, BROADFRAUD etc etc try to persuade people reading the blog that GKP is not worth anything. But some of us know differently â€" and can prove it

[urals] 04/7/2020 08:10

#GKPMorgan Stanley, Goldman Sachs, JPMorgan etc etc have held this to floor pre takeover to accumulate their now enormous positions.But as announcement, possibly competitive bids near, you can't hold it down indefinitely. https://t.co/USeuCYKtTR

[urals] 04/7/2020 07:56

#GKP in PLAYYet ANOTHER US Hedge fund appears holding over 6m shares. Precision Capital based big Apple.https://t.co/zCCuePmhY0

[0ili0] 04/7/2020 07:32

The trolls problems are in their own back yards. They moan about the share price and don't even realise they're the reason why.

[bigdog5] 03/7/2020 23:39

The Irish have such a way with words. They really know how to tell a story.

Btw when did Astons evolve from Audi TT's?

Methinks the mighty con is about to unravel.

[0ili0] 03/7/2020 22:03

Is that post written by an actor? ;)