Gulf Keystone Petroleum Share Discussion Threads

[mr_todd_f_kozel] 02/2/2022 17:07

OAP - nobull is clearly paid to talk this down.Note his history at LSE!!!Several avatars are obviously doing likewise, which is as you would expect, given how valuable the company is.

[nobull] 02/2/2022 16:51

As to doing secret buybacks using proxies (LOL), you are living in fantasy land.

[nobull] 02/2/2022 16:49

If our Chairman, our CEO and our CFO all want their backsides kicked, yes, they are free to do buybacks at any damned price they like, but we won't be able to trade our shares on the LSE anymore.

[nobull] 02/2/2022 16:36

Chapter 12.4 of the Listing Rules deals with buying back your own shares.
There are all kinds of rules including ones on when the share price needs to be stabilised for some reason.



GKP can't just wade into the market and pay any damn price it likes. That's why Ian Weatherdon preferred dividend payments because executing a buy-back of the size of the dividend payment takes ages when you have to obey all the rules about what price you can pay. The rules are there to protect us from directors acting out of their own self interest.

[mr_todd_f_kozel] 02/2/2022 16:24

OAP - nobull is clearly paid to talk this down.Note his history at LSE!!!Several avatars are obviously doing likewise, which is as you would expect, given how valuable the company is.

[mr_todd_f_kozel] 02/2/2022 16:22

NoBull - you are incorrect. Bermuda registered companies are not bound by listing rules, certainly not in off market transactions.There is no reason at all why the company could not agree with a third party to purchase a lump of stock from them, at a future date and agreed price.And there could be several third parties.All they needed was their own shareholders to agree to such transactions , and they got that agreement via resolution to amend bye laws in June 2019......................................................................................They gave themselves authority in June 2019 to buy their own stock , “on any terms the board saw fitâ€?The most obvious value accretive strategy they could use given the obvious huge value of the company at TO.Of course not requiring any new resolution ie shareholder mandate , or need to inform the market, when/how , made it the cheapest way to acquire as much stock as possible as cheaply as possible over a long period.

[mr_todd_f_kozel] 02/2/2022 16:22

BERENBERG RAISES GULF KEYSTONE PRICE TARGET TO 300 (280) PENCE - 'BUY

[mr_todd_f_kozel] 02/2/2022 16:21

Herbert Smith freehills v NOBULLLOLOLOLOL

[pensioner2] 02/2/2022 16:20

Well then, nobull, either you're wrong or Gulf have some very poor advisors. It could be the latter, of course, but HSF are getting big fees and are not known for poor advice.

[nobull] 02/2/2022 16:19

The directors may say they are free to purchase shares on any terms they see fit, but I would argue they are constrained by the fact our shares are traded on the LSE. I agree there are get-outs for foreign issuers, but to allow GKP to disobey the rules about not paying more than 5% or whatever above the volume weighted average price over the last x trading days are there for a good reason: to protect the integrity of the market, and to protect us from irresponsible directors pursuing their own selfish interests.

[mr_todd_f_kozel] 02/2/2022 15:20

BERENBERG RAISES GULF KEYSTONE PRICE TARGET TO 300 (280) PENCE - 'BUY

[guypender] 02/2/2022 15:08

Speaking of people who waste their time.....

[mr_todd_f_kozel] 02/2/2022 13:25

NoBull - you are incorrect. Bermuda registered companies are not bound by listing rules, certainly not in off market transactions.There is no reason at all why the company could not agree with a third party to purchase a lump of stock from them, at a future date and agreed price.And there could be several third parties.All they needed was their own shareholders to agree to such transactions , and they got that agreement via resolution to amend bye laws in June 2019......................................................................................They gave themselves authority in June 2019 to buy their own stock , “on any terms the board saw fitâ€?The most obvious value accretive strategy they could use given the obvious huge value of the company at TO.Of course not requiring any new resolution ie shareholder mandate , or need to inform the market, when/how , made it the cheapest way to acquire as much stock as possible as cheaply as possible over a long period.

[mr_todd_f_kozel] 02/2/2022 13:24

OAP - nobull is clearly paid to talk this down.Note his history at LSE!!!Several avatars are obviously doing likewise, which is as you would expect, given how valuable the company is.

[nobull] 02/2/2022 13:15

"NoBull - you are incorrect. Bermuda registered companies are not bound by listing rules, certainly not in off market transactions."

If an issuer (of securities) applies to have its shares traded on the LSE, it has no choice but to abide by the listing rules. The listing rules are to some extent to avoid false markets occurring in the shares, to ensure share price sensitive info is priced in, in the correct manner, etc. (the reputation of the Stock Exchange is at stake otherwise). There are some exceptions in the rules for 'foreign issuers', but allowing secret buybacks won't be one of the exceptions, as that drives a coach and horses through the rules. JMV.

[mr_todd_f_kozel] 02/2/2022 12:29

The transition to new FDP is the perfect time for ownership to transfer to serious operator's..Money? Well they should have used a proxy to buy shares in for the past 2.5 years.The excess cash(possibly plus new debt) will pay for these shares.The shares cancelled and the profits of remaining holders concentrated even higher.

[mr_todd_f_kozel] 02/2/2022 12:29

BERENBERG RAISES GULF KEYSTONE PRICE TARGET TO 300 (280) PENCE - 'BUY

[mr_todd_f_kozel] 02/2/2022 12:28

US Condog , it's breakfast time on East coast...The BIGGEST BUY SIGNAL on the planet.#27,356 BASHING posts.LOL

[bigdog5] 02/2/2022 12:19

Afternoon suckers how's the CON going today?

Hey highlander7, they found water at S12 not Coal.

Btw, its now four months since they announced the "imminent" hook up of S13/S14. And you clowns still believe the the field is performing to expectations!!!

As for these buybacks that the multi avatar Stockport liar keeps mentioning via all his many nicknames every minute of every day could it be that the hosts wouldn't want money wasted on them and would prefer to see the funds spent on progressing production? With more wells for instance.

When one looks at the facts and that the company have been talking about achieving 55k a day since 2015 and are still way off that number wouldn't you expect the hosts too be less than expressed? I wonder what the hosts will want for agreeing the FDP:-)

[thebabe] 02/2/2022 11:48

OAP - nobull is clearly paid to talk this down.
Note his history at LSE!!!
Several avatars are obviously doing likewise, which is as you would expect, given how valuable the company is.