Gulf Keystone Petroleum Share Discussion Threads

[briangal99] 11/6/2021 07:55

Excellent update, not sure why they didn't quote current cash balance?

[jackpotjack] 11/6/2021 07:52

Ha ha ha yes looks like it as the production rate declines yearly!Hang on, you must be on the wrong board as that sort of post should on HUR!

[tess_tickle] 11/6/2021 07:49

STUCK AT 40K FOR 12 YEARS, THE FIELD STRUGGLES TO GIVE MORE

[habshan] 11/6/2021 07:47

Bigdog - "Yes its time for you delusional clowns to join up the dots."

Having read this morning's RNS and having joined up the dots we can see why Jon Ferrier and Sami Zouari, the two men who know more about this company and it's prospects than anybody else on the planet opted to take the shares rather than the cash.

[shortsqueezer] 11/6/2021 07:34

Progress much better than expected! This is a first!

[hydrocarbon1] 11/6/2021 07:05

Gulf Keystone Petroleum Ltd. Operational & Corporate Update
11/06/2021 7:00am
UK Regulatory (RNS & others)
.....................................................................................................................................................
Jon Harris, Gulf Keystone's Chief Executive Officer, said:

" We continue to safely navigate a challenging operating environment due to COVID-19, with gross average year-to-date production of c.43,600 bopd, up almost 20% from 2020 annual average gross production. Today, we are pleased to announce that we have restarted work to complete SH-13, marking the resumption of drilling activities ahead of schedule. As a result, we now expect to increase gross production towards 55,000 bopd in Q4 2021 and to be at the upper end of 2021 guidance (40,000-44,000 bopd) as we continue to develop and realise the value of the Shaikan Field's substantial reserves and resources for the benefit of all stakeholders."

55,000 bopd investment programme

-- Successful restart of drilling activities with commencement of SH-13 completion ahead of the previously announced schedule of Q3 2021.

-- After SH-13, SH-I will be drilled and electric submersible pumps will be installed in two existing wells.

-- Gross production is now expected to increase towards 55,000 bopd in Q4 2021, versus previous guidance of Q1 2022.

Operational

-- Continued strong safety performance, with no Lost Time Incident ("LTI") recorded for over 530 days.

-- Continuing to effectively manage the impact of COVID-19 on production operations and the resumption of drilling activities despite continued challenges on the ground.

-- Gross average production from the field in 2021 to date of c.43,600 bopd, in line with 2021 guidance.

Financial

-- $100.8 million ($78.9 million net to GKP) received from the Kurdistan Regional Government in 2021 to date for payments of crude oil sales and recovery of outstanding arrears.

-- As previously announced, proposing a $25 million annual dividend and $25 million special dividend, both for approval at next week's Annual General Meeting as we continue to balance investment in growth and returns to shareholders.

-- Retain a robust balance sheet, with a cash balance of $195 million as at 10 June 2021.
Outlook

-- Expect 2021 average gross production guidance to be towards the upper end of the 40,000 to 44,000 bopd guidance range following early resumption of drilling activities.

-- 2021 guidance of $55-$65 million net capex and $2.5 to $2.9/bbl gross unit Opex remains unchanged.

-- Continuing to progress the preparation of the Field Development Plan, including the Gas Management Plan, through engagement with the Ministry of Natural Resources and other stakeholders; we will provide updates as this work progresses.

[beernut] 11/6/2021 06:14

NNPC: Lack Of Investment Could Push Oil To $200

By Irina Slav - Jun 10, 2021, 9:00 AM CDT
Trade Oil Futures And Energy Stocks

Crude oil prices could rise to $200 per barrel as international oil companies curb their investments in new exploration and production, the Nigerian National Oil Corporation said this week.

The effect of investment decisions being made now will be felt in about five years, NNPC’s Group General Manager for National Petroleum Investment Management Services, Bala Wunti, said at the Nigeria International Petroleum Summit as quoted by This Day.

“I was talking to one of my senior colleagues yesterday, and he said, well, it is time for someone to speak the truth,” Wunti told the summit. “If nothing is done and this trend continues, guys, we should be ready for a $200 per barrel of oil. The reason is simple, if you stop investing in the oil and gas sector, you can only produce what you have today.”

The International Energy Agency recently called on the oil and gas industry to suspend all new exploration citing the Paris Agreement targets and the net-zero emissions of governments. However, oil demand has shown no relation whatsoever to emissions targets and has been recovering more strongly than either the IEA or almost any other forecaster expected.

Yet pressured by investors and by their own new agenda, many energy companies are squeezing their investments in new exploration anyway, relying on existing output only.

“And what you have today, in many instances in five years, it will start declining, that is, if you we are not already in a declining mode, because many in Nigeria are in declining mode,” NNPC’s Wunti explained.

“So, if there’s no fresh capital for either brownfield or greenfield investment, we cannot grow production; if we don’t grow the production, the consequence is that we’re building a short supply for tomorrow. In basic economics, short supply means a higher price. So this is the world. This is the world that we see today and this has presented some very emergent trends.”

By Irina Slav for Oilprice.com

[mrtoddkozel] 11/6/2021 05:46

HTTPS://twitter.com/GoodnightCharl1/status/1403210620997144577?s=19

[steephill cove] 10/6/2021 22:49

OILMILF63, different moniker but same old tripe. Filtered & another that goes into the GKP skip of blue paid ADVFN derampers. And still they keep coming, clearly very rattled tonight too...

[bigdog5] 10/6/2021 22:37

Are we to assume highlander7 has sold up or has he disappeared again like he did in the months prior to the shareholder wipeout out of pure embarrassment at getting all his views and prediction wrong?

Looks as though I've upset frenchyliar with the facts again.

Also we mustn't forget habSHAM's predictions that the 55k would be easily achieved this Summer.

If I ask politely will Mr Hills post up the Samimack report again, just for a larf eh:-)

[nufc9] 10/6/2021 20:53

Lol... again... I’m not Paul... why do you keep saying I’m Paul... so when are you coming to London?

[smallukdog] 10/6/2021 20:38

Nufc, I've no idea who you are..There really are some seriously mentally ill types here.And physically And in oilman63 case to be fair, I'm empathetic, he's morbidly obese, diabetic, and has cancer issuesSo there we arePsI'll toss up before Dinner who pays food /who pays booze??Lol

[nufc9] 10/6/2021 20:32

“Table for one is it Paul” - if your insinuating that I am Paul, then your incorrect.

Well I look forward to meeting you in London and you can show whatever you have in your handbag to me too.... sound good?

[kurdman63] 10/6/2021 20:27

Table for one is it Paul 😂🤡

I'll tell you why I'm coming to London.

One of the people on that list of major shareholders has contacted me and wants to see hard copy of what I have lol.

I won't have to say anything because the header at the top of the page will do it for me 😱

Best get posting and ticking up 😂😂😂😂8514;😂ԅ14;😂😂;😂😂

🐐🎥®

[nufc9] 10/6/2021 20:18

Sounds good to me 😎👍🚀🚀

[smallukdog] 10/6/2021 20:14

AUG 14-16 I am in the smoke.Nobu. Mayfair. Dinner. Used to be a favourite spot for Todd et al .

[nufc9] 10/6/2021 20:06

217,000 reasons to meet for me!

I agree, many thanks to Bigdog et al, I have managed to acquire more than I ever imagined.

If your ever in London, give me a shout.

P.S. I also do a bit of re-tweeting your posts on Twitter ;)

[smallukdog] 10/6/2021 20:02

Nufc292,222 reasons to meet LolCouldn't have done it without the multiple loony tunes here and lse :) I'm actually hoping I get to >300,000 before takeover.All divs going straight back inHowever I suspect we will see a hostile bid shortly