Gulf Keystone Petroleum Share Discussion Threads

[sbb1x] 25/1/2022 13:42

I expect the dollar to break down after FOMC ThursdayMeans oil will go higher

[mr_todd_f_kozel] 25/1/2022 12:59

Cup an 'andle on daily.But will background buyers ever let this go pre sale?

[beernut] 25/1/2022 12:53

Looks like the big drop yesterday was well overdone
Gla

[thebabe] 25/1/2022 12:34

Possibly.
Amended bye law June 2019
They gave themselves authority to :

"The Board may, at its discretion and without the sanction of a Resolution (i) authorise the
purchase by the Company of its own shares for cancellation or acquire them as Treasury Shares
in accordance with the Companies Acts ON SUCH TERMS AS THE BOARD SHALL THINK FIT and (ii) exercise
all the powers of the Company to purchase or acquire all or any part of its own shares in
accordance with the Companies Acts."
-------+++

So any basis they like.

[blgdog] 25/1/2022 12:31

It’s not Malcy saying no 55k...... it’s the company LOL. Do you idiots even read the RNS’s?

[blgdog] 25/1/2022 12:31

Lol Paul’s theory of a proxy buying is a load of rubbish. Do you have a time estimate on this Paul? Just want to know when you will forget this latest theory and go onto another one.

[henrygondorff] 25/1/2022 12:31

Nice dividend again but it seems Malcy is saying no 55k this year.

[nobull] 25/1/2022 12:29

"So any basis they like."
No.

[pensioner2] 25/1/2022 11:49

There's usually a lag of a day or two after IC articles before the effect kicks in. This one looks to be following the same pattern.

[mr_todd_f_kozel] 25/1/2022 11:38

Possibly.Amended bye law June 2019They gave themselves authority to :"The Board may, at its discretion and without the sanction of a Resolution (i) authorise the purchase by the Company of its own shares for cancellation or acquire them as Treasury Shares in accordance with the Companies Acts ON SUCH TERMS AS THE BOARD SHALL THINK FIT and (ii) exercise all the powers of the Company to purchase or acquire all or any part of its own shares in accordance with the Companies Acts."-------+++So any basis they like.

[pensioner2] 25/1/2022 11:07

Do you reckon a proxy is keeping these dividends, TFK, as the price for holding the shares in trust?

[mr_todd_f_kozel] 25/1/2022 11:03

.https://twitter.com/111notout1/status/1485882500375318528?s=21

[blgdog] 25/1/2022 10:32

Haha only £33k you clown! Haha luxury holidays... what a moron! I’m laughing at you all from my £110k council house.

[hydrocarbon1] 25/1/2022 10:20

Yeah have a good laugh. I will get circa £33,000 Divi which this time I will not be reinvesting. Luxury holidays for 2022.

[blgdog] 25/1/2022 10:08

Your all clowns! I’m sitting here laughing at you all getting another dividend payment.

[pensioner2] 25/1/2022 09:47

There's an awful lot of clueless suckers around this morning. Schmucks the lot of them. (Stamps foot in frustration)

[mr_todd_f_kozel] 25/1/2022 09:40

.https://twitter.com/111notout1/status/1485882500375318528?s=21

[nestoframpers] 25/1/2022 09:11

Good CNE RNS thanks Howard.

[blgdog] 25/1/2022 09:07

No 55k, no buyback, no takeover LOL

[releasethekraken] 25/1/2022 07:50

.https://twitter.com/111notout1/status/1485882500375318528?s=21

[beernut] 25/1/2022 06:28

Saudi Aramco says oil demand’s nearing pre-pandemic levels
Saudi Aramco said demand for oil is nearing pre-Covid levels and reiterated that producers globally are investing too little in supply.
By Bloomberg
24/01/2022, 1:24 pm
© BloombergSaudi Aramco oil demand
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Saudi Aramco said demand for oil is nearing pre-Covid levels and reiterated that producers globally are investing too little in supply.

“We are getting very close to pre-pandemic levels,” Chief Executive Officer Amin Nasser told reporters on Monday in Dhahran, where the world’s biggest oil company is based. “We continue to see healthy demand in the future.”

Consumption of crude crashed from around 100 million barrels a day in early 2020 as the coronavirus pandemic spread, shutting down factories and triggering mass lockdowns.

[highlander7] 25/1/2022 05:34

Malcy .....


Jon Harris, Gulf Keystone’s Chief Executive Officer, said:

“We are pleased today to declare an additional interim dividend of $50 million, bringing distributions over the past eight months to $150 million in line with our commitment to balance investment in growth with returns to shareholders.

Since the beginning of 2022, gross production peaked at just over 50,000 bopd and has averaged c.46,800 bopd, versus the 2021 average of 43,440 bopd. However, the lower productivity of recently completed wells, SH-13 and SH-14, and temporarily curtailed production from SH-12, have resulted in a delay in gross production increasing to 55,000 bopd. 2022 gross average production is expected to be 44,000 to 50,000 bopd.

GKP’s substantial production base at current oil prices continues to generate significant cash flow and value for Gulf Keystone’s stakeholders. On approval of our recently submitted Field Development Plan, we are well positioned to achieve sustainable growth from the Shaikan Field, which has delivered close to 100 MMstb, and has 489 MMstb of estimated 2P gross reserves remaining.”

COMMENT

GKP for now is all about achieving the 55,000 bopd and with the problems at SH-13 and SH-14 that is clearly now on the back burner and guidance for this year is between 44,000 and 50,000 which looks eminently doable and still provides meaningful revenue.

That the company can announce a dividend of 23.394 US cents a share costing some $50m obviously shows a great deal of confidence and they have had good settlements from the KRG before and after Christmas. They still have to agree with the MNR the FDP for the extension of Shaikan, something they probably wish had more certainty about given recent quirky decisions but I can’t see it being a major problem. GKP are pretty well set both for being paid and expanding the portfolio but some evidence will be needed to confirm that.