Gulf Keystone Petroleum Share Discussion Threads

[gkp_over_100quid_at_takeover] 17/10/2023 09:12

Iraq PM: We are ready to export #oil from the #Kurdistan region.

'There are IOCs operating in Kurdistan and we have an understanding with them... We will soon reach an agreement to resume oil exports through the #pipeline'.

[hydrocarbon1] 17/10/2023 09:06

If Israel escalates Biden loses more face. Strategic oil reserves gutted.

[hydrocarbon1] 17/10/2023 09:03

This has dragged on for over 6 months why would anyone believe it cannot drag on longer. Iraq hate Kurds and Iraq is selling oil.

[shareho1der] 17/10/2023 09:03

Biden started it in the first place.

[gkp_over_100quid_at_takeover] 17/10/2023 08:44

ICG/KRG will have to "blink" first... and they will have to blink soon as an empty pipeline and $35 million daily losses aren't politically or economically sustainable.

Payment RNS incoming.

[phillis] 17/10/2023 08:28

In excelllent company then
The bb that hosts the biggest number of the same

[steephill cove] 17/10/2023 08:21

Phillis,

Let me put my glasses 🤓 on so I can see you.

Yep, you’re still a tw@t 👍

[phillis] 17/10/2023 08:05

It is bigger than the Shard
Now who was who said that

[r9505571] 17/10/2023 07:58

Biden heading to Israel to calm things down!

[highlander7] 17/10/2023 07:47

Many thanks to a knowledgable contact for sending me this.

[imnotspartacus] 17/10/2023 07:41

This could drag on for months, remember Iraq don’t like them Kurds!

[doctortakeover] 17/10/2023 07:26

HTTPS://x.com/111notout1/status/1714165687306916136?s=61&t=EEAJRmerpfLiAmForyb8Dw

[ptmorris1] 16/10/2023 20:55

Am thinking more of a particular scene from the Critically Acclaimed, Oscar strewn film..., "Morons from Outer Space".

[pittcock] 16/10/2023 20:21

Bigdog is the resident fart in a space suit.

[theythinkitsallover] 16/10/2023 19:40

“They've had fourteen years and have done zero. Explains everything“

Christ almighty it’s been explained to you many many times and yet you still get can’t it in your thick head…..

[doctortakeover] 16/10/2023 19:18

Shaikan is the largest land based fossil fuel discovery for decades.The oil and gas resources are huge , even based on the current ( subset of field ) CPR.CNPC petro-physicists who have had access to both field pressure data and core samples believe the field could have far higher porosity and hence far higher reserves than is currently the case.The notion that the Seven Sisters would have no interest in acquiring GKP is ludicrous.So what valuation would a legitimised GKP have?Several billion dollars of course , many many multiples of todays SP

[doctortakeover] 16/10/2023 19:16

They may have just slipped under .50 % threshold at which point they no longer reportedCould still be .49% or less.Who cares....

[bigdog5] 16/10/2023 19:12

"The notion that the Seven Sisters would have no interest in acquiring GKP is ludicrous.<..."

They've had fourteen years and have done zero. Explains everything.

And fourteen years of ramping BS explains why Carroll should seek help and not from the Doctor as she would be talking to herself.

[r9505571] 16/10/2023 18:47

Disappeared from LSE too. Total short now 1.71%

[doctortakeover] 16/10/2023 17:52

Yep I reckon they making 400k a day on local sales now at full prodn imo

[ozzmosiz] 16/10/2023 17:17

not for GKP :)

[doctortakeover] 16/10/2023 17:04

The loss of revenue is 35 m a day ...

[sniff_the_tip] 16/10/2023 16:53

Qube Research & Technologies Limited short has disappeared from Shorttracker....

[highly geared] 16/10/2023 16:42

From the recent RNS:

Since closure of the export pipeline and subsequent commencement of local sales on 19 July 2023, gross average monthly local sales of Shaikan crude have steadily increased: c.4,900 bopd in July, c.17,200 bopd in August and c.28,800 bopd
between 1-24 September. Realised prices have continued to average around USD30/bbl, in line with local market pricing.

Following recent agreements with buyers, GKP has ceased trucking operations and is injecting all crude sales into the pipeline for transportation to a local refinery in Kurdistan. The Company is receiving advance payments into its UK
bank account for its net entitlement of 36% of gross sales revenue.


Current local sales volumes and realised prices enable GKP to more than cover its estimated monthly costs of around USD6 million in H2 2023, while strengthening its financial position. The Company remains focused on preserving liquidity and continues to explore opportunities for further cost reductions.

Gross average sales are currently c.33,000 bopd and GKP is striving to increase sales volumes while prudently managing the start-up of wells that have been shut-in for several months and avoid traces of water.


So, unless any new arrangements with ICG/SOMO materially improve on the above arrangement's , there is no rush to start pumping oil into the export pipeline. There's also the matter of the agreed arrangements with local refineries to "unpick" which means any new deal with ICG/SOMO/KRG has to be sufficiently watertight and materially better than the current arrangements.

Logic suggests the ICG/KRG will have to "blink" first... and they will have to blink soon as an empty pipeline and $1 million daily losses aren't politically or economically expedient.