Share Name Share Symbol Market Type Share ISIN Share Description
Gulf Keystone Petroleum Ltd LSE:GKP London Ordinary Share BMG4209G2077 COM SHS USD1.00 (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -3.50p -1.66% 207.50p 207.50p 208.50p 217.00p 208.00p 217.00p 429,316 16:35:26
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 196.5 62.5 27.3 7.5 465

Gulf Keystone Petroleum Share Discussion Threads

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DateSubjectAuthorDiscuss
29/3/2017
14:05
From CCC on iii: I just want to pencil in a possible ongoing scenario that you might or might not already have in your scope. Facts: GKP have made a major restructuring effectively putting the former holders of bonds and notes in control of the company. Agreement with holders of bonds and notes was reached in July 2016. DNO bid for 300 MUSD was rebuffed by GKP board. Restructuring completed in October 2016. DNO lowers their valuation of GKP after the restructuring. After the restructuring everything is practically in a stand still, except that the asset is producing, oil is delivered and money is coming in. No decisions on investments or route forward. Former holders of bonds and notes are still clinging on to their shares, which on surface is quite surprising, since they invested in bonds and notes, not in shares. Rumour in Dec 2016 of Sinopec being interested. Have not been substantiated yet. GKP Share is traded within a narrow window of valuation since beginning of 2017. PSC amendment is still not signed although agreement was reached more than a year ago. Tony Peart has left GKP Anastasia Vvedenskaya has left GKP John Stafford has left GKP Stuart Catterall was announced as new COO in January. Conclusion: There is another step, currently not disclosed, in the restructuring deal to be expected. The step is likely to either relate to a take over of GKP as a whole or a farm out of some of GKPs share of Shaikan. Additional facts to consider: The Lundin Family is the major shareholder in ShaMaran Petroleum with 20% of Atrush PSC and is very well acquainted with Kurdistan oil environment and the Shaikan area and geology. May 2016 The Lundin family created a new holding company. Nemesia SARL. June 2016 Nemesia "bought" the Lundin Family holdings in the diamond company Lucara Diamond, a holding that at the time was worth about 270 million CAD. October 2016 Garrett Soden, a long time Lundin Group Director, was elected to the board of Gulf Keystone together with Dave Thomas (seasoned and experienced from the Afren caretaker board). December 2016 Nemesia "bought" the Lundin Family holdings in the oil company Lundin Petroleum, a holding worth about 15 billion SEK, equal to 2.25 billion CAD. January 2016 Nemesia "bought" the Lundin Family holdings in the mining company Lundin Mining, a holding worth about 770 million CAD. Bringing the total value of the Nemesia portfolio to 3.3 billion CAD. Nemesia is 100% owned by the Lundin holding companies Lorito and Zebra. February 2016 Lundin Petroleum announces a spin-out of their international assets in France, Malaysia and Netherlands into a new company called International Petroleum Corporation (IPC). IPC will have a free cash flow of about 5-10 MUSD/month from the original assets, zero debt, good bank relations and a 100 MUSD credit facility already in place. IPC strategy is to use free cash flow and financing to acquire early life producing or slowly declining assets in stable jurisdictions to grow the company. Lundin Petroleum shareholders will get shares in IPC. Nemesia with 25% of the shares in the new company will also buy out Statoil from their holding, leaving Nemesia with up to 39% ownership of the new IPC. March 2016 The creation of IPC will be decided upon at a Lundin Petroleum Special General Meeting. Hypothesis: The Lundin Family, through Nemesia, struck a deal with the bond- and noteholders of GKP in July 2016 which means that a new (at that time not existing) Lundin related corporate entity will buy either GKP or farm in to Shaikan PSC in order to finance further development of Shaikan. The deal is temporarily secured financially for the GKP owners by the assets in Nemesia and for the Lundin Family through representation on the GKP Board of Directors. Nemesia will be the dominating owner of IPC and will together with other Lundin affiliated holdings control up to 45% of IPC, thereby being in a position to deliver this business proposal (the deal with GKP) to IPC and get it approved by IPC. Nemesia would also probably get a finder's fee. IPC would take over Nemesia's role in the deal and execute the take over/farm in. IPC and ShaMaran would eventually have to consider synergies and possibly merge. The only stumbling blocks I see are the definition of "stable jurisdictions", could KRG really fit into that definition?, and the willingness of the Lundin Family to expose themselves even more to the oil operations in Kurdistan. Do they see a future shareholder value? Risk is not an issue for the Lundins as long as the potential rewards outweigh the risk. Their motto is "No Guts, No Glory". This is a hypothesis and nothing more. But give it a thought, it fits a little too well with actual events and the time line. Trevanian. Thought i would share this, it is not something i have given any thought before, but it is of interest. CCC
walval
29/3/2017
13:15
Just in case any 'investor' missed it👀 There are a lot of unsuspecting PIs Today That are missing a huge opportunity The company is now valued Below the VCP base 👍 300% below average analysts 400% below CPR 10% 1300% below CPR 500% below ashti 600% 2017 fwd PE It's massively solvent Cash generative every month And making profits every month It's sat on huge reservesdb It's a huge takeover target Buy Hold Buy more Hold more
josexi
29/3/2017
13:00
Some people never learn nestoframpers29 Mar '17 - 11:28 - 536666 of 536678 0 0 Genel 59p is it a buy yet I wonder ?
fake taxi
29/3/2017
12:32
God bless Boris . Honest patriot and great poet .
roverite12
29/3/2017
12:19
I guess AB wasn't a gas cap driven field like SH is ?In the future it will be valuable I would think.
nestoframpers
29/3/2017
12:17
First quarter of 2017 come and gone. Over at MOL. Amongst their international assets for investment spend, Shaikan and Chemchemal are notably absent for anything further in 2017. This backs up what I believe is that with the heavy oil being withdrawn from blending, and having to be trucked at the KRGs cost, I can't see any reason to produce more of the stuff. Board is too top heavy here and unjustifiable for one producing sole asset oil field. To need an MP as a so called advisor who gets paid more than the CEO - what exactly is he achieving or is he merely protecting the company from outright collapse with the KRG ? While he earns hundreds of £k, the share price collapses further into the ground. The DNO offer would have cleared the top heavy board in cutting costs, took over the field, reduced drilling spend and investors could have still ridden the value of Shaikan through DNO. Does DNO, Genel, the Chinese or others have such a head honcho in a UK (Kurdish) MP. Why are his services still required ?
zengas
29/3/2017
12:08
talking of: 'deluded fools that blinded people while a corrupt clan robbed shareholders of their hard earned cash' anyone remember Bah Bah Black Sheep and spidymonkey from iii ? they made a couple of grand just by encouraging people to make a donation (lets say a tenner) for accessing the GKP NAV calculator not too shabby for a days work often wondered if they had to share it with the terminally ill CJ and your very own fake oilcan $61 lock stock (and I do mean everything) barrel its ME its HIM it really is all about US lots of love Anthony and Robert x
the patriotic irishman
29/3/2017
12:08
BigGob . When you stated that the share price was about to rise from £4 (when you bought in ) to £15 WITHIN A YEAR , did you realise that the oil was HEAVY oil which you now say is worthless ? A simple enough question for someone who feels themselves qualified to offer advice ? (BTW that £15 was pre restructure ...about £1500 in today's money .....LOL)
roverite12
29/3/2017
12:04
Bigdog5 28 Mar '17 - 14:07 - 536564 of 536669 5 1 There are no colossal reserves. What they do have is 360m of heavy oil that no one wants. --------------------------------------- Interesting point of view (above) , BigGob ............ ..............and yet not too long ago you wrote the following words (below) . -------------------------------------------- "Jacko, Shaikan is massive, possibly 18b-26b barrels OIP. The 18b figure was recently mentioned by one of the BoD's. TK has suggested we could have 26b.
roverite12
29/3/2017
11:45
Just in case any 'investor' missed it👀 There are a lot of unsuspecting PIs Today That are missing a huge opportunity The company is now valued Below the VCP base 👍 300% below average analysts 400% below CPR 10% 1300% below CPR 500% below ashti 600% 2017 fwd PE It's massively solvent Cash generative every month And making profits every month It's sat on huge reservesdb It's a huge takeover target Buy Hold Buy more Hold more
josexi
29/3/2017
11:44
I'm not looking at what MOC's want, nest. My question relates to GKP's rights/obligations in the PSCs after Genel and MOL walked away from AB and BB. Whether those fields could have been or will ever be commercial is far from clear, imo. Particularly since BB was declared commercial rather hastily. Could GKP have hung onto their share of those PSCs at little or no cost until activities were resumed at some point by another company? If there's no downside, why hand them back? They may have value in the future.
lardner23
29/3/2017
11:44
Nest I rather like repeating it. Huge buy Huge hold As there are a host of naysayers constantly misleading people here👀 Constantly 😎
josexi
29/3/2017
11:28
Genel 59p is it a buy yet I wonder ? Why would a MOC want a small player on the PSC Lard ? Only a MOC can do Shaikan .We spoke about a farm in with a MOC taking over operator-ship nothing happened .
nestoframpers
29/3/2017
11:21
Does anyone know the contractual position for a minor partner on a PSC if the PSC-designated main operator withdraws? Can they sit tight and do nothing until another main operator joins the party?
lardner23
29/3/2017
10:46
That was 2 years ago and considering what's happened since with more regional corruption expose and a certain MP on board, then perhaps Mr Plunkett is breathing a sigh of relief.
sidesplitting
29/3/2017
10:38
Avatars will have noted that I posted the Tesco article yesterday: nestoframpers 29 Mar '17 - 10:34 - 536663 of 536663 0 0 Dgunn and Wildrider are raising very important points , Tesco share holders are to be given £90 mill due to false accounting , GKP has been up to no good too.
avatar333
29/3/2017
10:09
Just in case any 'investor' missed it👀 There are a lot of unsuspecting PIs Today That are missing a huge opportunity The company is now valued Below the VCP base 👍 300% below average analysts 400% below CPR 10% 1300% below CPR 500% below ashti 600% 2017 fwd PE It's massively solvent Cash generative every month And making profits every month It's sat on huge reservesdb It's a huge takeover target Buy Hold Buy more Hold more
josexi
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