Gulf Keystone Petroleum Share Discussion Threads

[thicktony] 30/7/2020 11:38

#GKPThey started to gradually reduce few weeks back.... suspect they could be hugely squeezed on ANY significant news here. https://t.co/OVVZMHNyH6

[thicktony] 30/7/2020 11:37

#GKP Voleon been suppressing Market share price since Sept 19( behalf of ? buyers) to allow huge stake built ( anonymously its Bermuda Co Act 1981) trying to gently close down that shortWould be stupid to help them by even selling 1Takeover battle on way https://t.co/sD0wDrg7N1

[bigdog5] 30/7/2020 11:12

Poor old highlander7 has even forgotten that he is surryscot. In the same way that he forget he deleted all his posts on the run up to the great wipeout of 2016 out of sheer embarrassment at getting another topic all wrong. Then there's all his "be patient" Xom are coming with huge dividends, lol.

In the Industry LOFL. Clown at a circus more like.

Less than 1p and all about those non existent barrels.

Field has shrunk, falling production and reserves, frozen payments, what's to like.

[beernut] 30/7/2020 10:37

Qatari Commercial Bank Says The Worst Oil Shock Is Over

By Tsvetana Paraskova - Jul 29, 2020, 3:30 PM CDT
The worst of the shock to oil markets and economies stemming from the COVID-19 pandemic is already behind us, the top executive of one of the largest commercial banks in Qatar told Bloomberg TV in an interview on Wednesday as the Middle East countries are reeling from the double shock of the coronavirus and oil price collapse on their economies.

“We look forward to reset the button as and when the world reaches normalcy,” Raghavan Seetharaman, chief executive officer at Doha Bank QPSC, told Bloomberg TV.

[beernut] 30/7/2020 10:35

Oil Rallies On Biggest Crude Inventory Draw Since 2019

By Irina Slav - Jul 29, 2020, 9:40 AM CDT
U.S. crude oil inventories shed an impressive 10.6 million barrels in the week to July 24, the Energy Information Administration reported today. This compares with a build of 4.9 million barrels for the previous week. However, inventories remain 17 percent above the five-year seasonal average.

A day earlier, the American Petroleum Institute reported an estimated crude oil inventory decline of 6.83 million barrels, versus analyst expectations of a much more modest draw of 357,000 barrels.


A surge in new Covid-19 infections in the United States offset the oil price gains that followed the API’s report and now the figures that the EIA has reported will likely help prices recoup some of those losses.

As the global oil demand outlook remains mostly negative since the coronavirus is resurging not just in the United States but in other countries as well, optimism about the oil industry—especially the downstream segment—is on the wane. The EIA’s inventory report may help change that.

In gasoline, the authority estimated a 700,000-barrel inventory build for the week to July 24, compared with a 1.8-million-barrel draw a week earlier. The EIA also said refineries churned out an average of 9.2 million bpd of gasoline last week, compared with 9.1 million bpd a week earlier.

In distillate fuels, the EIA reported an inventory increase of half a million barrels, compared with a 1.1-million-barrel inventory build for the previous week. Distillate fuel production, the EIA said, averaged 4.8 million bpd last week, slightly up on the previous week.

At the time of writing, Brent crude was trading at $43.70 a barrel and West Texas Intermediate was changing hands at $41.37 a barrel, both slightly up from yesterday’s close. The $40-43 range has proved quite resilient over the past couple of weeks, not least because of the global economy outlook amid the pandemic, which remains overwhelmingly pessimistic, with expectations for slower rather than quicker recovery around the world, notably in the U.S., the world’s largest oil consumer.

By Irina Slav for Oilprice.com

[beernut] 30/7/2020 10:32

Last paragraph sounds positive


PM Barzani, Iraqi Interior Minister Discuss Coordinated Response to financial, Security Challenges
BasNews 2020/07/30 - 00:02 Kurdistan


ERBIL - Kurdistan Region Prime Minister Masrour Barzani on Wednesday received Iraqi Minister of Interior Othman al-Ghanmi in Erbil where they discussed the coordinated response to the financial and security challenges facing the country.

"In the meeting, both spoke about relations between the Kurdistan Region and the federal government, emphasising the need to develop security coordination in the disputed territories and border areas," Barzani's office said in a statement.

The Kurdish premier reaffirmed Kurdistan Region's commitment to a solution that "protects Kurdistan’s constitutional rights and entitlements, and serves the interests of the Iraqi peoples," the statement added.

"Positive meeting with Federal Gov Interior Minister @OthmanGhanmi. We discussed coordinated responses to our financial and security challenges, and explored ways forward regarding the disputed territories. We each reaffirmed our commitment to the constitutional rights of both sides," PM Barzani wrote on Twitter.

The Iraqi minister, in return, proposed stronger cooperations between the sides to better tackle the coronavirus pandemic as well as financial crisis.

He, in the meantime, conveyed PM Mustafa al-Kadhimi's readiness to resolve the remaining disputes between Erbil and Baghdad, the press release concluded.

[rpt_regal_petroleum_buy_now] 30/7/2020 10:24

Buy JKX - best buy at the moment in O+G sector.

11,000 boepd production|||pe 2.6 ||| price to book value 0.20 ||| Return on Capital. 14.4% ||| Return on Equity 12.3%. |||Operating Margin. 31%. |||book value £146m ( present MCap £30m!)||| earnings yield 125% |||book value per share 85p |||EV £19.9m |||debt free |||cash rich ||| Gas prices rising

[beernut] 30/7/2020 10:21

DNO Steps Up Activity; Releases Second Quarter 2020 Results


July 30, 2020 01:00 ET | Source: DNO ASA
Oslo, 30 July 2020 – DNO ASA, the Norwegian oil and gas operator, today reported stepped up investments across its portfolio on the back of higher production and significantly improved liquidity outlook as the Company recovers from the oil market turmoil that upended the second quarter of 2020.

Operated production in July at the Company’s flagship Tawke license in the Kurdistan region of Iraq is up 15,000 barrels of oil per day (bopd) month-on-month to 115,000 bopd following a well intervention campaign fast tracked in June with the stabilization of oil prices and improved export payment terms. In the North Sea segment, DNO projects receipt of USD 215 million in tax refunds in the second half of the year, including USD 70 million from the recently announced temporary changes to petroleum taxation in Norway.

“The worst of the coronavirus pandemic hit to our business is behind us and DNO is back identifying and capturing opportunities,”; said Bijan Mossavar-Rahmani, DNO’s Executive Chairman. “Still, we are prepared to act quickly, as we did in March, if a strong second wave comes,” he added.

Second quarter Company Working Interest (CWI) production stood at 89,700 barrels of oil equivalent per day (boepd) of which Kurdistan contributed 71,900 bopd and the North Sea 17,800 boepd.

Gross operated Tawke license production averaged 102,000 bopd, including 58,100 bopd from the Tawke field and 43,900 bopd from the Peshkabir field, together down 11 percent from the first quarter as development activity dropped off to preserve cash at a time of historically low and uncertain oil prices.

Second quarter revenues slid to USD 72 million and operating losses climbed to USD 81 million, both driven by weak commodity prices across the portfolio and lower cargo liftings of produced oil in the North Sea.

At the Baeshiqa license in Kurdistan, DNO continued drilling the third exploration well on a second structure (Zartik) some 15 kilometers southeast of the Baeshiqa-2 discovery well. The rig has been released and testing will commence in August in Lower Jurassic and Upper Triassic zones intersected by the well and expected to last three months. Evaluation of the Baeshiqa-2 results is ongoing to determine commerciality.

During the first half of 2020 DNO received a total of USD 224 million in payments from the Kurdistan Regional Government. In addition, the Company received a USD 23 million June entitlement payment after the end of the reporting period. Discussions are ongoing to reach an agreement on acceptable terms and timing of payment of arrears totaling USD 240 million due to DNO for the November 2019-February 2020 entitlements and November 2019-June 2020 override payments. Notwithstanding the interruption of these payments and DNO’s repayment of the remaining USD 138.5 million of the DNO01 bond at maturity on 18 June 2020, the Company exited the first half of 2020 with a strong cash balance of USD 427 million. Net debt at the end of the second quarter stood at USD 537 million, down from USD 559 million at the end of the first quarter.

Last month, DNO commissioned the Peshkabir-to-Tawke gas reinjection project, the first enhanced oil recovery project in Kurdistan, to unlock additional oil volumes at Tawke while significantly reducing gas flaring and CO2 discharges at Peshkabir.

Prompted by the tax changes in Norway, the Company is working with partners to accelerate infill drilling at the Ula, Tambar and Brage producing fields, revisit development options for the Brasse field and actively evaluate the Iris/Hades, Fogelberg and Trym South discoveries.

DNO will remain an active explorer in the North Sea, targeting 4-6 wildcat wells a year.

–

For further information, please contact:
Media: [e-mail]
Investors: [e-mail]
Tel: [phone]

[mcfly02] 30/7/2020 09:39

Max, a sausage is something you're Daddy was giving to his girlfriend behind your mummies back.

[thicktony] 30/7/2020 09:20

#GKP Voleon been suppressing Market share price since Sept 19( behalf of ? buyers) to allow huge stake built ( anonymously its Bermuda Co Act 1981) trying to gently close down that shortWould be stupid to help them by even selling 1Takeover battle on way https://t.co/sD0wDrg7N1

[thicktony] 30/7/2020 09:20

#GKPThey started to gradually reduce few weeks back.... suspect they could be hugely squeezed on ANY significant news here. https://t.co/OVVZMHNyH6

[thicktony] 30/7/2020 09:20

2 days of no volume :)Then again you would be nuts to sell 1.That ace hedge Voleon needs to buy 2,5000,000Pronto.

[mcfly02] 30/7/2020 09:02

Good Morning 😃

PTI, I did notice that post yesterday over on the LSE but I've just checked and it's been removed 😂

I wonder what was in it that upset someone ???

Is it the fact that they are NOT IN A CLOSED PERIOD ???

Or could it of been that ROBERT WATERHOUSE has been exposed for using the SlurryScot avatar 😂

[max2741] 30/7/2020 08:44

What a sausage ?

[broadford bay] 30/7/2020 08:20

DNO has just released its Q2 Results.

Oslo, 30 July 2020 – DNO ASA, the Norwegian oil and gas operator, today reported stepped up investments across its portfolio on the back of higher production and significantly improved liquidity outlook as the Company recovers from the oil market turmoil that upended the second quarter of 2020.

Operated production in July at the Company’s flagship Tawke license in the Kurdistan region of Iraq is up 15,000 barrels of oil per day (bopd) month-on-month to 115,000 bopd following a well intervention campaign fast tracked in June with the stabilization of oil prices and improved export payment terms. In the North Sea segment, DNO projects receipt of USD 215 million in tax refunds in the second half of the year, including USD 70 million from the recently announced temporary changes to petroleum taxation in Norway.

“The worst of the coronavirus pandemic hit to our business is behind us and DNO is back identifying and capturing opportunities,”; said Bijan Mossavar-Rahmani, DNO’s Executive Chairman. “Still, we are prepared to act quickly, as we did in March, if a strong second wave comes,” he added.

Second quarter Company Working Interest (CWI) production stood at 89,700 barrels of oil equivalent per day (boepd) of which Kurdistan contributed 71,900 bopd and the North Sea 17,800 boepd.

Gross operated Tawke license production averaged 102,000 bopd, including 58,100 bopd from the Tawke field and 43,900 bopd from the Peshkabir field, together down 11 percent from the first quarter as development activity dropped off to preserve cash at a time of historically low and uncertain oil prices.

Second quarter revenues slid to USD 72 million and operating losses climbed to USD 81 million, both driven by weak commodity prices across the portfolio and lower cargo liftings of produced oil in the North Sea.

At the Baeshiqa license in Kurdistan, DNO continued drilling the third exploration well on a second structure (Zartik) some 15 kilometers southeast of the Baeshiqa-2 discovery well. The rig has been released and testing will commence in August in Lower Jurassic and Upper Triassic zones intersected by the well and expected to last three months. Evaluation of the Baeshiqa-2 results is ongoing to determine commerciality.

During the first half of 2020 DNO received a total of USD 224 million in payments from the Kurdistan Regional Government. In addition, the Company received a USD 23 million June entitlement payment after the end of the reporting period. Discussions are ongoing to reach an agreement on acceptable terms and timing of payment of arrears totaling USD 240 million due to DNO for the November 2019-February 2020 entitlements and November 2019-June 2020 override payments. Notwithstanding the interruption of these payments and DNO’s repayment of the remaining USD 138.5 million of the DNO01 bond at maturity on 18 June 2020, the Company exited the first half of 2020 with a strong cash balance of USD 427 million. Net debt at the end of the second quarter stood at USD 537 million, down from USD 559 million at the end of the first quarter.

Last month, DNO commissioned the Peshkabir-to-Tawke gas reinjection project, the first enhanced oil recovery project in Kurdistan, to unlock additional oil volumes at Tawke while significantly reducing gas flaring and CO2 discharges at Peshkabir.

Prompted by the tax changes in Norway, the Company is working with partners to accelerate infill drilling at the Ula, Tambar and Brage producing fields, revisit development options for the Brasse field and actively evaluate the Iris/Hades, Fogelberg and Trym South discoveries.

DNO will remain an active explorer in the North Sea, targeting 4-6 wildcat wells a year.

[urals] 30/7/2020 08:12

#GKPThey started to gradually reduce few weeks back.... suspect they could be hugely squeezed on ANY significant news here. https://t.co/OVVZMHNyH6

[urals] 30/7/2020 08:12

#GKP Voleon been suppressing Market share price since Sept 19( behalf of ? buyers) to allow huge stake built ( anonymously its Bermuda Co Act 1981) trying to gently close down that shortWould be stupid to help them by even selling 1Takeover battle on way https://t.co/sD0wDrg7N1

[urals] 30/7/2020 08:12

2 days of no volume :)Then again you would be nuts to sell 1.That ace hedge Voleon needs to buy 2,5000,000Pronto.

[highlander7] 30/7/2020 06:55

Slight correction TPI.


"anyway I just noticed there's a cracking post on LSE by Tom247 about our 'expert' old fart. I say its a cracking post as Tom247 appears to have sussed the obsessed old fools MO already 😉"


Yes I noticed Oilcans "nightmare niece" Sarah has yet another avatar over on 3i and now calling herself Tom247. I also noticed that the load of fantasy nonsense she posted was well and truly trashed (again) by my good friend surreyscot .


Incidentally , genuine Industry Insiders call it the "Oil Patch" not the "Slippery" Patch .

Off you go

LOL

[jackpotjack] 29/7/2020 20:25

Why the smile?