Gulf Keystone Petroleum Share Discussion Threads

[nestoframpers] 19/7/2022 08:36

Erbil would be the new Dubai FE11 , about time the Kurds had a lucky break .

[sbb1x] 19/7/2022 08:21

Nice buy 35,[e-mail]

[fairenough11] 19/7/2022 07:31

IMO the connected field is so big that a consortium of large Oil Cos looks highly likely and IT'S THIS THAT BAGHDAD ARE CONCERNED ABOUT,THE power swing to the Kurds along with a fortune in income with Basra looking on.
Very BIG MONEY AT STAKE HERE.

[0ili0] 19/7/2022 07:08

"Shaikan field, is GKP (KDP PUK/ UAE and UK elite). They own 95% of GKP, and that’s why they are paying themselves a dividend of 11% this year."

This statement implies that these entities must represent the shareholders. Therefore these are the people that benefitted most from the restructuring. So Sothic parties were UK elites? I doubt that 🤔

Always thought these blocks were interconnected. Could we see a consortium develop this supergiant field? Very possible.

And then there's the blogs...😂
28514;😂

28,000 posts up and bigdog5 is still utterly clueless 💩🧠🧠🧠9504;

[highlander7] 19/7/2022 06:32

Buffet has a huge stake in Chevron . He would have had a meeting with the BOD before investing and been given a highly confidential update on future plans. He obviously thinks the value of his investment is going to rise and also thinks that O&G Producers have a future.

Join the dots ?

H7

[beernut] 19/7/2022 06:24

Mentions sarsang atrush and Shaiken being possibly the world’s 3 Rd largest oil field.

The Kurdistan Oil PSC Contracts – What is Going to Become of Them?

Posted on July 18, 2022 by Editorial Staff in Exclusive, Oil & Gas
The Kurdistan Oil PSC Contracts
An oil refinery in Iraqi Kurdistan. Photo: AFP

Sheri Laizer | Exclusive to Ekurd.net

Iraq’s Federal Supreme Court has ruled the Sarsang PSC contract illegal concerning HKN Energy – and that is Ross Perot’s Company. [1] But meanwhile the KRG elite’s efforts continue – particularly in the territory under the control of the Barzani-dominated KDP.

According to a statement on July 7 reproduced in the ISHM bulletin of 7-14 July 2022, “Iraq’s Oil Minister, Ihsan Abdul-Jabbar Ismail, said that his government was serious about enforcing a recent court decision against four foreign oil companies operating in the Kurdistan region. The day before, news reports said that an Iraqi court in Baghdad ruled that the contracts between the Kurdistan region’s government and Western Zagros, DNO, HKN Energy, and Genel Energy were void. The court reportedly found the contracts in question to be in violation of the February 15 ruling by the Federal Supreme Court against oil operations in the Kurdistan region.

In an exclusive interview with AP, Ismail, said that Baghdad’s plans to bring Kurdistan’s oil operations under its control will expand to reach a total of 17 companies and he would present the companies with three options: canceling the contracts, requesting waivers from Baghdad, or agreeing to transfer the deals from the KRG Natural Resources Ministry to Iraq’s federal Oil Ministry. Ismail said his approach first involves giving the companies a warning that they are “working in the smuggling of oil,” and “If they are a respectful company they will listen to us.” Should the companies refuse to cooperate, the minister said Baghdad would seek to enforce the court decisions through “the law and banks.” [2]

The Kurdistan Oil PSC Contracts
Iraqi Kurdistan oil map. Atrush field. Photo: Provided by Sheri Laizer

Of current importance therefore and worth watching next is the fate of the following fields:

The Sarsang field under the blacklisted HKN Energy=Ross Perot.

The Atrush field is now Taqa (Abu Dhabi National Energy Company) /ShaMaran (Lundin of Sweden) who bought out Alex Cranberg’s GEP Aspect Energy and kept the name.

Shaikan field, is GKP (KDP PUK/ UAE and UK elite). They own 95% of GKP, and that’s why they are paying themselves a dividend of 11% this year.

When, and if, ShaMaran use GEP to buy Sarsang, that would mean the elite of the KDP would own Sarsang, Atrush and Shaikan.

This is big money if those three oil fields should become one and it would amount to the world’s third largest oil field.

A recent public statement by ShaMaran itself read:

Shamaran Announces Sarsang Acquisition Progress

VANCOUVER, BC, July 12, 2022 /CNW/ – ShaMaran Petroleum Corp. (“ShaMaranR21; or the “Company”;) (TSXV: SNM) and (Nasdaq First North Growth Market (Sweden): SNM) is pleased to announce that the long stop date in the Sarsang Acquisition has been extended until November 12, 2022. ShaMaran has now signed the relevant document relating to the approval by the Kurdistan Regional Government (KRG) of this transaction and ShaMaran looks forward to the signing in due course of the relevant documents by the other parties, including the KRG. ShaMaran will keep the market informed when completion of this transaction occurs. [3]

In a map from 2011, GEP=Aspect Energy, America, who sold on to Taqa, Marathon sold to ShaMaran and ShaMaran own 30% of Atrush.

Ber Bar, Sheikh Adi, and al Qush, form part of this same field.

[beernut] 19/7/2022 06:16

Baghdad to resume its contributions

Iraq's highest court dismisses a complaint against funding the salaries of KRG's public servants
Kurdistan
Federal Supreme Court
Financial receivables
2022-07-18 19:12
A-
A
A+
Shafaq News/ Iraq's federal supreme court has dismissed a complaint against the federal government deferring 200,000 million dinars in salaries to the public servants of the Kurdistan region.

The complaint filed against the Iraqi Minister of Finance, Ali Abdul-Amir Allawi, demands the federal government refrain from sending the monthly payment.

The dismissal of the complaint enables the federal government to resume its contribution to the salaries of state employees in the region.

The Kurdistan Regional Government (KRG) pays 616 million dollars in salaries to the public servants. In addition to 138 million dollars from the federal government, the KRG funds the salaries with 350 million dollars from oil revenues.

[beernut] 19/7/2022 06:13

$100+ Oil Is Back For The Long Haul

By Charles Kennedy - Jul 18, 2022, 2:45 PM CDT

Oil prices gained over 4.6% on Monday as the market attempted to digest developments in the Middle East, and as the dollar weakened slightly.

Brent oil prices climbed to $105.8 per barrel by 3:42 EST Monday, up 4.65% on the day. West Texas Intermediate (WTI) was trading at just over $102.

Prices rose Monday as traders assessed the Saudi sentiment following U.S. President Joe Biden’s meeting with the Crown Prince on Friday.

On Sunday, Biden’s advisor on international energy affairs, Amos Hochstein, said Washington believed OPEC’s producers in the Middle East–namely Saudi Arabia and the UAE–would take some steps to boost supply to the oil market soon.


However, the overriding sentiment seems to be that the Saudis have no intention of intervening in oil prices at this time. Last week’s sell-off based on notions that Biden’s trip to Saudi Arabia might result in an OPEC decision to increase production is now being reversed.

Monday’s higher oil prices are also being driven by a weakening U.S. dollar thanks to investors who have softened their expectations of a more aggressive approach to interest rates by the Fed next week.

The U.S. dollar index fell 0.464% on Monday.

Biden’s meeting with the Saudi Crown Prince had markets hedging oil lower, despite widespread doubts that anything would be accomplished in terms of increasing OPEC output.


On Monday, Iraq’s oil minister told Bloomberg that oil is likely to continue trading above $100 for the remainder of this year.

“I would like OPEC to retain its tools to measure and control output and maintain the existing balance,” Iraqi Oil Minister Ihsan Abdul Jabbar told Bloomberg. “We will discuss that with our partners.”

The next meeting for OPEC+ will be on August 3rd.

By Charles Kennedy for Oilprice.com

[fairenough11] 19/7/2022 05:37

Yes Bobob was also spot on.

The question now is who's the puppet master US(Chevron et al) or China(Sinopec)?

[highlander7] 19/7/2022 05:21

So Oil Investor (Bob) and BBBS were right after all , it is all one gigantic oil field ?

If that is true then it is no wonder they are sat on the FDP.

H7

[steephill cove] 18/7/2022 23:53

Bigdog5 28000 posts & you still do not have a clue about the value of GKPs Shaikan or who any of the Private Investors are on this board 😆

The difference between mediocrity and excellence is attention to detail.

You are about to watch & learn 🚂📈🏁🏆8170;✅

[bigdog5] 18/7/2022 23:15

Steephill Cove18 Jul '22 - 20:51 - 658413 of 658415
0 6 0

"Bigdog5 on the East Coast of the ???

Do me a favour.

What American knows what an Aldi is or the relative price of a can of baked beans?

More like East Canalside Worsley ?"


Long way away from there sarah.

[bigdog5] 18/7/2022 23:13

highlander718 Jul '22 - 19:01 - 658401 of 658414
0 11 0

"If the ICG had a case against the Kurds PSC that would stand up in court then they would have had them a decade ago. Its a negotiating ploy and now we know why. They want a piece of the cake".

Are you sure Harriet? Piece of what cake, possibly 400k a day being exported and is all the money reaching the correct places? Its totally clear Baghdad want the Kurds oil Industry under their control and they will get it. TSC's to replace the PSC's or no one will touch the oil getting out of Koruptistan.

How long can the KRG survive under that scenario? No oil revenue, no budget from Baghdad and this time they won't be able to borrow from the oil traders. The hosts will of course do everything to look after themselves and "save face" but its Baghdad that hold all the cards now.

As for "negotiations" Baghdad don't need to, they just offer up TSC's or its end of the game. You morons better hope that the hosts don't sell you down the river and gather up a few companies and drop them into their KROCPOT. Cancelled PSC's equals an share price of zero.

Kozel "there won't be many left at the end".

Investors and barrels:-)

[0ili0] 18/7/2022 21:55

Hannam. Buckingham. Denning.
What three words...lands you right on Behr Bahr. True. Maybe 🤔

[steephill cove] 18/7/2022 20:51

Bigdog5 on the East Coast of the 🇺🇸?

Do me a favour.

What American knows what an Aldi is or the relative price of a can of baked beans?

More like East Canalside Worsley 🤣👍

[nestoframpers] 18/7/2022 20:26

Bah_Bah_Black_Sheep Dec '11

Nice porn pictures there GRH1, well done on publishing! Even though it is just an appetiser. My heart missed a beat on the middle-image - but it was not to be … you teaser, you, we don’t get the big-picture for SH-SA-BB in black & white (or should that be in black & black?)!

But a nice trip down memory lane for me. Starting with that ceremony … alas the original link no longer works, but I did save some memorable quotes in this post of over 2 years ago:

[...]

Whilst ‘unmeasure-able’ comes close, Adnan was attributed with the following quote:

“… and the total inventory of the area Samarrai said the stock is so massive and beyond expectations and we can not give the figures”

You’ll also see in the above post that enquiries to GKP at the time revealed that they would need 3D seismic before they would be in a position to “give the figures” … so it was not so much about ‘unmeasure-able’ as it was about “so massive and beyond expectations”. There was only one possible explanation which I surmised as follows in that post:

======

The only reason I can think of for needing the results of 3D seismic to update OIP is if that OIP occupies MORE THAN just the Shaikan anticline. Why? Because they had no problems in estimating OIP for the Triassic in Shaikan from their existing 2D seismic before they started drilling. What has changed apart from getting actual well data since then? Nothing else I can think of - other than perhaps a greater sense of perspective.

OIP that is “so massive and beyond expectations and we can not give the figures” and “may require the results of 3D seismic”. I can wait. I will wait.

======

And I did wait of course. Are we nearly there?! I think so …

Moving now to Ber Bahr. I can understand why you’ve been so ‘frugal’ on the area provided. But, IMO, you MAY be being a bit too pessimistic when it comes to the BB-1 well location being ‘located sub optimally’. The area immediately to the north-west of BB-1 is of course covered at surface by Lake Dohuk. Question: is it possible that the ‘less than black’ in this area is masked by the effects of the lake? Seems likely to me - as I understand that the technology does not work so well over water …

But apart from that, I like the way that the ‘deep black’ extends eastwards from BB-1 - and looks like it must be entering territory that is free from any Pirates … :wink:

Finally, concerning your volumetric conclusions:

‘So…let’s just say that, purely personally, I regard BBBS’s numbers as being rather conservative… sorry BBBS…I hope you don’t mind’

I don’t mind at all GRH1. Because whilst I suggested some conservatism in my post of over 18 months ago:
[...]
where I stated:
“In conclusion, I think Todd was being conservative - both on CNN, and at the First Energy Conference. I ain’t being conservative no more - I’ll go with 100 BBS OIP for all four licenses”

I did in fact exercise my ‘right to get smarter’ in this post of only just over 3 months ago:
[...]
where I ‘adjusted̵7; my position to:
“P.S. Not much to say lately - oh wait a minute - other than my 100 BBS is now starting to look decidedly conservative”

So nice to be on the same page as you GRH1 >:D<<br />
Kind regards,

BBBS

[shortsqueezer] 18/7/2022 20:00

But that's what he is paid to do. You have to pity it

[highlander7] 18/7/2022 19:53

Broadford still doesnt understand that a PSC is a Contract and it cannot be changed within the contract duration without the consent of both party's. Any attempt at what he suggests would be met with an immediate legal challenge and the potential of the KRG being sued for damages.

That would go down well with any potential Oil and Gas investor planning to invest in Kurdistan.

Its fantasy and an amateur attempt at scaremongering.

H7

[shortsqueezer] 18/7/2022 19:50

For some reason my phone won't ever open lincs from that source.

[fairenough11] 18/7/2022 19:35

ERBIL (Kurdistan 24) – Iraq’s Federal Court rejected a lawsuit regarding the “unconstitutionality” of sending the 200 billion IQD from the federal government to the Kurdistan Region, according to a source in the court.

Following repeated rescheduling, the Federal Supreme Court held a session on Monday to decide the lawsuit filed by the former Basra Provincial Council member, Jawad Kadhim Alwan, against Prime Minister Mustafa Al-Kadhimi, in which it stated that sending money to the Kurdistan Region violates the provisions of the constitution.

The source told Kurdistan 24, that the Federal Court rejected the lawsuit against sending the financial advance to the Kurdistan Region.

The Kurdistan Regional Council of Ministers had confirmed earlier that the federal government had not sent the region's monthly dues, amounting to 200 billion dinars, for 14 months since 2020.

The financial advance was agreed upon as part of the Kurdistan Region’s share under the General Budget Law for the year 2021. Iraq has not approved the 2022 budget so far.

The agreement signed between Erbil and Baghdad obliges the Iraqi government to send an amount of 200 billion dinars to the region as a "financial advance" until the region's revenues and shares are audited.

The Kurdistan Region received the first monthly advance in July 2021, nearly a year after Baghdad refused to send any financial dues.

During the current year, the federal government sent only two financial advances totalling 400 billion dinars.

[beernut] 18/7/2022 19:32

Can’t get the linc up. Iraq rejects 200 billion dinars to Kurdistan. Kurdistan 24. Anyone

[releasethekraken] 18/7/2022 19:21

Broadfraud .Condog .Paid to batter sentiment obvs .As is PUTUP etc on LSE .The biggest buy signals EVER