Gulf Keystone Petroleum Share Discussion Threads

[hangthedj] 19/1/2023 19:35

Bigdog, do you think there's any middle ground here?

One extreme is the rampant, way over optimistic takeover brigade and then there's posters like yourself who think everything negative and no way GKP will survive.

There must be a 90% fairly silent majority here who are sitting back and awaiting future development as a gradual progression and hopefully leading to a long term successful ongoing profitable business.

Basically not all sh1te and not all sugar, somewhere in the middle?

[releasethekraken] 19/1/2023 19:09

Thanks for that. Link is here:https://wp-gulfkeystone-2020.s3.eu-west-2.amazonaws.com/media/2023/01/Pareto-18th-EP-independents-conference-v2-16x9-screen.pdf

[releasethekraken] 19/1/2023 19:08

BIGDOG RE-ITERATES CONVICTION BUY:TAKEOVER ANNOUNCEMENT IMMINENT

[bigdog5] 19/1/2023 19:08

I note that Broadford has again popped in to kick habscum's excuses up in the air.

I have her on filter simply because I know what she posts are invented excuses and total BS.

So where is the FDP that highlander7 reckoned was agreed back in October 2021?

Where is the "agreed deal/hostile" that Carroll has been pushing for 9 years?

What about the easy cheap and fast 55k a day that your guru predicted after the wipeout and has been in the plans since 2014?

What about the oil law that h7 said a few weeks back was agreed? So why is it now being reported that's its slipped back 6 months?

All the evidence anyone needs to understand its you clueless desperate rampers that are inventing all the fantasy and lies in order to con the unsuspecting?

[habshan] 19/1/2023 18:44

hangthedj - "Habshan, thanks for pointing out that HKN are probably the most forthcoming in voicing their frustration on lack of or long delayed payments. Any thoughts on the new presentation on their website?
Mention of cutting back on future development spending."

10 years ago Todd Kozel was very keen to develop the field. He was always talking about 100k and more bpd production, absolutely nothing wrong with that, finding oil and then developing the field is what it's all about.

The problem was, he carried on drilling and developing by borrowing more and more money in the not unreasonable expectation that we would get paid for our production enabling him to service all that debt which in the end amounted to some $600 million.

He believed the KRG when they kept telling him that the cheque was in the post.

It wasn't, there were too many late payments.

That all resulted in the near liquidation of the company and the restructuring.

Kozel was ousted and replaced by Jon Ferrier who rightly determined not to go down that road again. After the restructuring in the summer of 2016 Ferrier resolved not to spend any more money until a reliable payment cycle had been established and the company had $200 million in the bank. In June 2018 he was happy and decided it was safe to start spending again and the programme to restart development began.

All of the IOCs suffered from unreliable payments in those days which is why they're all very sensitive to the timeliness of oil sales payments and keep healthy bank balances so that they can ride out periods of uncertainty such as we have at the moment and as I said HKN always include this statement in every communication to the market:-

"We continue to closely monitor the business environment, including timeliness of oil sales payments, and are prepared to look aggressively at Capex reductions if we lose confidence in collecting future payments. This approach could have a negative impact on future production but reflects our prioritization of capital preservation."

If the IOCs decide that they're not comfortable with the current situation then they'll stop spending because as HKN say, capital preservation has to be the priority.

GKP certainly seem relaxed about it as Jon Harris said yesterday:-

"Robust balance sheet , well positioned to manage recent KRG payment delays."

[busamitch] 19/1/2023 18:23

Thanks for that. Link is here:

[hangthedj] 19/1/2023 18:13

Just noticed new presentation on GKP website too.

"well managed to handle delays in payments"

All under control then obviously, in the meantime at least.

[hangthedj] 19/1/2023 18:06

Habshan, thanks for pointing out that HKN are probably the most forthcoming in voicing their frustration on lack of or long delayed payments.

Any thoughts on the new presentation on their website?
Mention of cutting back on future development spending,

[sbb1x] 19/1/2023 16:53

EIA (wk ending 13 Jan)Crude: 8.408MCushing: 3.646MGasoline: 3.483MDistillates: -1.939M

[habshan] 19/1/2023 16:03

Broadford - "No matter how Habscam describes it, the SH-16 well pad is only 2,5km ENE of SH-7, you can hardly call that the Eastern side of the field."

Sarah used the term "the eastern half of the field".

The field is divided by a ravine running north to south. The half to the western side of that ravine is referred to as the western half, the half to the eastern side is referred to as the eastern half.

The wells in the western half are piped into PF-1 and the wells in the eastern half are piped into PF-2 because the ravine cannot easily be crossed with pipework.

Sarah stated that no wells are being drilled in the eastern half of the field.

That statement is incorrect.

Wells 12, 13, 14, 16 and 17 have ALL been drilled in the eastern half of the field and consequently either are or will be piped into PF-2. Of the recent wells only Sh-15 has been drilled on the western side and that is piped into PF-1.

And as for this tripe - "They'll have to hope that the major structural fault to the N of the drill pad doesn't have a kink in it near target depth!"

They don't have to "hope" at all Broadford, both of the wells drilled from that pad have already been successfully completed.

They've already drilled SH-16 there and the well is showing "good productivity" and they're so pleased with it that they decided to go ahead and drill Sh-17 from the same pad.

Well 17 has also been completed and the flow lines are being laid with start up expected Q1.

So looking good.

Probably better if you leave it to the experts Broadford.

[bang_gone] 19/1/2023 15:49

BROADFRAUDSTER RE-ITERATES CONVICTION BUY:TAKEOVER ANNOUNCEMENT IMMINENT

[broadford bay] 19/1/2023 15:43

Hi Bigdog,

No matter how Habscam describes it, the SH-16 well pad is only 2,5km ENE of SH-7, you can hardly call that the Eastern side of the field.
SH-17 is from the same well pad.

If you overlay the Pareto slide (7/15), and the ERCE CPR slide showing the Top Jurassic Structure Depth Map (CPR, P8/89), you will see they're positioned much closer to the Western "dome" and staying well away from the Eastern side. They'll have to hope that the major structural fault to the N of the drill pad doesn't have a kink in it near target depth!

[bang_gone] 19/1/2023 15:00

Been lots and lots of rollovers past week or so , 9000 and odd just rolled over

[johnbuysghost] 19/1/2023 14:55

Desperate buys continue day in day out.

[r9505571] 19/1/2023 14:35

Global oil demand will hit a record high Theo's year consuming an average of 101.7m bopd up from 99.9m bopd last year.

[johnbuysghost] 19/1/2023 13:59

US shadow players desperate for GKP shares...............

[hydrocarbon1] 19/1/2023 13:51

Why is my dog so desperate for attention?
WHAT CAUSES DESPERATION IN DOGS
Why do dogs become attention-seekers? One of the most common reasons is that they are bored. This could be because they are not getting enough exercise, enough mental stimulation, or they are genuinely not getting enough attention from their owners.

[releasethekraken] 19/1/2023 13:29

BIGDOG RE-ITERATES CONVICTION BUY:TAKEOVER ANNOUNCEMENT IMMINENT

[bang_gone] 19/1/2023 10:47

Unmeasurable.....:)).I think CNPC have had a serious go at trying to measure it.....A hostile bidder would move pre HCL if their ever is one..

[nestoframpers] 19/1/2023 10:19

Cheers Arcadian . I think the share price will go back to £3 forming a giant Cup , by then HCL will be done and bang gone. I agree with JB Re the shadow players , cloak and daggers since 1st oil. ' Unmeasureable'. SA