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Gulf Keystone Petroleum Ltd LSE:GKP London Ordinary Share BMG4209G2077 COM SHS USD1.00 (DI)
  Price Change % Change Share Price Shares Traded Last Trade
  11.40 6.4% 189.40 1,725,917 16:35:23
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189.60 190.00 193.60 181.80 181.80
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 79.32 -34.40 -16.42 402
Last Trade Time Trade Type Trade Size Trade Price Currency
16:57:19 O 17,862 189.396 GBX

Gulf Keystone Petroleum (GKP) Latest News (4)

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Date Time Title Posts
12/6/202117:12THE NEW GKP / Drilling for Super Giants (moderated)632,054
11/6/202110:40THE NEW GKP / Drilling for Super Giants (moderated) MK 21,328
20/5/202116:14GKP - The Road To Takeover (by bondholders)286
15/3/202118:04GKP Technical Analysis10,865
09/3/202108:57GKP - from hero to zero?33,854

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DateSubject
12/6/2021
09:20
Gulf Keystone Petroleum Daily Update: Gulf Keystone Petroleum Ltd is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker GKP. The last closing price for Gulf Keystone Petroleum was 178p.
Gulf Keystone Petroleum Ltd has a 4 week average price of 157.60p and a 12 week average price of 157.60p.
The 1 year high share price is 199.40p while the 1 year low share price is currently 67p.
There are currently 212,245,502 shares in issue and the average daily traded volume is 560,738 shares. The market capitalisation of Gulf Keystone Petroleum Ltd is £401,992,980.79.
10/6/2021
18:58
smallukdog: This has been the case for 3 years plus Steephill... With trading desks trying to bend market Difference now is the number of liquid free stock is tinyTheir will be a huge explosion shortly as its the most obvious incoming takeover. EVER The premium? Thousands of percent, hence the fraudsters here 24/7Autobots on sell sell sell in final 10 seconds trying to pull GKP share price back. It really is laughable that they are so desperate to try & create a red finish, as though GKP is unloved :-)
10/6/2021
16:31
steephill cove: Autobots on sell sell sell in final 10 seconds trying to pull GKP share price back. It really is laughable that they are so desperate to try & create a red finish, as though GKP is unloved :-)
03/6/2021
15:32
steephill cove: Just in case you missed it earlier... By the way... It is a matter of just a few days before the start of Q3 & time for the SH-13 well to start drilling for increased production ;-) Looking good for the 182p gap that needs filling.. Especially, as I see that we have been heavily tipped by Zak Mir as a stock to fill up your annual ISA allowance with ;-))) ISA Ideas: Gulf Keystone #GKP Gulf Keystone (GKP): 175p This one is relatively easy to sum up, currently producing a whopping 43190 bopd from their Shaikan field in the Kurdistan region of northern Iraq and aiming to increase to 55000 bopd by Q1 2022 beginning with the drilling of the SH-13 well in Q3 of 2021, GKP are valued at £369m and are sitting on a cash pile of $161m With one of the lowest Opex around at $2.6/bbl, GKP are heavily leveraged to oil prices and with record production levels for 2021 must be loving these current oil prices, recently being described as a cash machine by a well-known investment analyst. Also, with the resumption of regular payments to GKP from the Kurdish Regional Government (KRG) for the last eleven months and the demise of ISIS political risk has diminished considerably. Repayment mechanisms are in place to recover outstanding arrears of $73.3 million too. Confident enough to re-instate its annual dividend beginning with $25m this year and stating that with continuing strong oil prices, there may be opportunities to consider further distributions to shareholders this year. Growing production, growing cash, dividends back in place (possibility to grow), lowering costs, strong oil prices. Buy for growth and dividend. Risks have shifted from political to the oil price. HTTPS://zakmir.com/isa-ideas-advance-energy-gulf-keystone-united-oil-gas-adv-gkp-uog/#gs.2f5i8v
03/6/2021
15:30
steephill cove: Just in case you missed it... By the way... It is a matter of just a few days before the start of Q3 & time for the SH-13 well to start drilling for increased production ;-) Looking good for the 182p gap that needs filling.. Especially, as I see that we have been heavily tipped by Zak Mir as a stock to fill up your annual ISA allowance with ;-))) ISA Ideas: Gulf Keystone #GKP Gulf Keystone (GKP): 175p This one is relatively easy to sum up, currently producing a whopping 43190 bopd from their Shaikan field in the Kurdistan region of northern Iraq and aiming to increase to 55000 bopd by Q1 2022 beginning with the drilling of the SH-13 well in Q3 of 2021, GKP are valued at £369m and are sitting on a cash pile of $161m With one of the lowest Opex around at $2.6/bbl, GKP are heavily leveraged to oil prices and with record production levels for 2021 must be loving these current oil prices, recently being described as a cash machine by a well-known investment analyst. Also, with the resumption of regular payments to GKP from the Kurdish Regional Government (KRG) for the last eleven months and the demise of ISIS political risk has diminished considerably. Repayment mechanisms are in place to recover outstanding arrears of $73.3 million too. Confident enough to re-instate its annual dividend beginning with $25m this year and stating that with continuing strong oil prices, there may be opportunities to consider further distributions to shareholders this year. Growing production, growing cash, dividends back in place (possibility to grow), lowering costs, strong oil prices. Buy for growth and dividend. Risks have shifted from political to the oil price. HTTPS://zakmir.com/isa-ideas-advance-energy-gulf-keystone-united-oil-gas-adv-gkp-uog/#gs.2f5i8v
03/6/2021
14:27
steephill cove: By the way... It is a matter of just a few days before the start of Q3 & time for the SH-13 well to start drilling for increased production ;-) Looking good for the 182p gap that needs filling.. Especially, as I see that we have been heavily tipped by Zak Mir as a stock to fill up your annual ISA allowance with ;-))) ISA Ideas: Gulf Keystone #GKP Gulf Keystone (GKP): 175p This one is relatively easy to sum up, currently producing a whopping 43190 bopd from their Shaikan field in the Kurdistan region of northern Iraq and aiming to increase to 55000 bopd by Q1 2022 beginning with the drilling of the SH-13 well in Q3 of 2021, GKP are valued at £369m and are sitting on a cash pile of $161m With one of the lowest Opex around at $2.6/bbl, GKP are heavily leveraged to oil prices and with record production levels for 2021 must be loving these current oil prices, recently being described as a cash machine by a well-known investment analyst. Also, with the resumption of regular payments to GKP from the Kurdish Regional Government (KRG) for the last eleven months and the demise of ISIS political risk has diminished considerably. Repayment mechanisms are in place to recover outstanding arrears of $73.3 million too. Confident enough to re-instate its annual dividend beginning with $25m this year and stating that with continuing strong oil prices, there may be opportunities to consider further distributions to shareholders this year. Growing production, growing cash, dividends back in place (possibility to grow), lowering costs, strong oil prices. Buy for growth and dividend. Risks have shifted from political to the oil price. HTTPS://zakmir.com/isa-ideas-advance-energy-gulf-keystone-united-oil-gas-adv-gkp-uog/#gs.2f5i8v
03/6/2021
14:01
steephill cove: By the way... It is a matter of just a few days before the start of Q3 & time for the SH-13 well to start drilling for increased production ;-) Looking good for the 182p gap that needs filling.. Especially, as I see that we have been heavily tipped by Zak Mir as a stock to fill up your annual ISA allowance with ;-))) ISA Ideas: Gulf Keystone #GKP Gulf Keystone (GKP): 175p This one is relatively easy to sum up, currently producing a whopping 43190 bopd from their Shaikan field in the Kurdistan region of northern Iraq and aiming to increase to 55000 bopd by Q1 2022 beginning with the drilling of the SH-13 well in Q3 of 2021, GKP are valued at £369m and are sitting on a cash pile of $161m With one of the lowest Opex around at $2.6/bbl, GKP are heavily leveraged to oil prices and with record production levels for 2021 must be loving these current oil prices, recently being described as a cash machine by a well-known investment analyst. Also, with the resumption of regular payments to GKP from the Kurdish Regional Government (KRG) for the last eleven months and the demise of ISIS political risk has diminished considerably. Repayment mechanisms are in place to recover outstanding arrears of $73.3 million too. Confident enough to re-instate its annual dividend beginning with $25m this year and stating that with continuing strong oil prices, there may be opportunities to consider further distributions to shareholders this year. Growing production, growing cash, dividends back in place (possibility to grow), lowering costs, strong oil prices. Buy for growth and dividend. Risks have shifted from political to the oil price. HTTPS://zakmir.com/isa-ideas-advance-energy-gulf-keystone-united-oil-gas-adv-gkp-uog/#gs.2f5i8v
03/6/2021
12:25
steephill cove: Looking good for the 182p gap that needs filling.. Especially, as I see that we have been heavily tipped by Zak Mir as a stock to fill up your annual ISA allowance with ;-))) ISA Ideas: Gulf Keystone #GKP Gulf Keystone (GKP): 175p This one is relatively easy to sum up, currently producing a whopping 43190 bopd from their Shaikan field in the Kurdistan region of northern Iraq and aiming to increase to 55000 bopd by Q1 2022 beginning with the drilling of the SH-13 well in Q3 of 2021, GKP are valued at £369m and are sitting on a cash pile of $161m With one of the lowest Opex around at $2.6/bbl, GKP are heavily leveraged to oil prices and with record production levels for 2021 must be loving these current oil prices, recently being described as a cash machine by a well-known investment analyst. Also, with the resumption of regular payments to GKP from the Kurdish Regional Government (KRG) for the last eleven months and the demise of ISIS political risk has diminished considerably. Repayment mechanisms are in place to recover outstanding arrears of $73.3 million too. Confident enough to re-instate its annual dividend beginning with $25m this year and stating that with continuing strong oil prices, there may be opportunities to consider further distributions to shareholders this year. Growing production, growing cash, dividends back in place (possibility to grow), lowering costs, strong oil prices. Buy for growth and dividend. Risks have shifted from political to the oil price. HTTPS://zakmir.com/isa-ideas-advance-energy-gulf-keystone-united-oil-gas-adv-gkp-uog/#gs.2f5i8v
25/5/2021
21:41
nestoframpers: Re the poop and scoop and why they bother, this is from the shock and awe era, well worth looking at again . Gramacho Aug 11 In the light last Friday's RNS and green07’s post mentioning the RSC report I have re-read the published information regarding the Triassic. A few loose ends have come to light that are worth sharing together with the little matter of a potential 7Bn bbl OIP in the Triassic and Permian. The usual caveats apply; analysis and conclusions are IMO and DYOR. DGA DISCOVERY REPORT AND THE KURRE CHINE C This report does not mention the Kurre Chine C formation. The base of the KC-B in Sh-1 was said to be at 2922m MD. “The Triassic Upper Kurra Chine B Member consists of naturally fractured dolomite. It is gas bearing in the Shaikan 1-B well and the open hole log indicates ~27 m of pay from depths between 2,582 and 2,922 m MD.” However the KC-B was only tested down to 2850m MD. “DST 5 was a cased-hole test of the B Member of the Upper Kurra Chine Formation. The interval tested was an uncemented portion of the 7¿ casing from below an external casing packer set at 2,582 m MD to the top of cement at 2,820 m MD, and included perforated casing from 2,840 to 2,850 m MD.” DGA then referenced the Lower KC top at 2923m MD (Final Discovery Report Fig 11) just above the well TD at 2950m MD. “The Lower Kurra Chine Formation was the deepest formation penetrated by the Shaikan 1-B well. It is below the last logged interval (to 2,923 m MD) and extends to the total well depth to 2,950 m MD (i.e., ~27 m MD were not logged). It is gas-bearing based on the gas shows encountered while drilling. The formation is over-pressured with an equivalent mud gradient of ~10.0 ppg.” Hence the Lower KC is the higher pressured interval that caused the well to TD prematurely. RYDER SCOTT AND THE KURRE CHINE C However RSC subdivided the interval described by DGA as KC-B into two intervals. The interval 2582 ¿ 2677 was named KC-B and the interval 2873 ¿ 2918 m MD was referred to as KC-C. At the top of interval that RSC called Kurre Chine C is a thin pay zone that was logged but not tested in Sh-1. The RSC report does not refer to the Lower KC and does not speculate on its potential resources. GKP AND THE KURRE CHINE C Now GKPs RNS of 18/8/11 stated: “Gulf Keystone has completed drilling of the Shaikan-2 Appraisal Well to a TD (total depth) of 3,300 meters in the middle Triassic, following which a flow test has been performed in the newly discovered Kurre Chine C zone over a 80 meter interval (3,195m to 3,275m). This new zone is highly pressured and correlates with the high pressure zone penetrated at the bottom of Shaikan-1.” This high pressure zone was only encountered in the final 10m of Sh-1below 2940m MD, refer to GKPs RNS of 23 Nov 2009: “The final TD of 2950 meters was determined by the fact that Gulf Keystone encountered a zone of very active oil and gas inflow immediately below a sealing layer at 2940m. This zone also exhibited high bottom hole pressures, well in excess of what was anticipated, and thus exceeded the design specifications of the well and the well head equipment resulting in the need to seal off this portion of the well bore. Although there is no certainty, reliable data from the nearest existing well indicates that this zone is possibly 50 or more meters thick.” IMO the new zone GKP is referring to in Thursday¿s RNS is what DGA previously described as the Lower KC and not the zone RSC referred to as Kurre Chine C. In other words the zones tested in Sh-1 are not the same as the zone recently tested in Sh-2. Hence the use of the term “newly discovered” in GKPs RNS. GKP appear not to be using RSCs nomenclature but they will need to clarify/confirm this to tie up this loose end. WHAT UNDERLIES SHAIKAN-1? We have learnt that oil underlies the KC-A and KC-B intervals in Sh-2. But what underlies Sh-1? There are different descriptions of the lowermost interval in Sh-1: by DGA ¿ “It is gas-bearing based on the gas shows encountered while drilling.” By GKP when announcing Sh-1 drilling had been terminated ¿ “a zone of very active oil and gas inflow” Did GKP have an inkling this high pressure zone could be primarily oil or was the reference to active oil a misnomer that really meant condensate? Or did DGA diagnose incorrectly and there is high pressure oil underneath Sh-1? Clearly if there is oil below Sh-1 then the OIP estimates for the Triassic will be higher than if gas underlies Sh-1. The answer may lie with comments in the RSC report which Dragon_Ventures covered in his 09:27 post of 21/8/2011. "It was my belief that the Triassic Kurra Chine would contain primarily gas/condensate after reading the Ryder Scott - Shaikan Report dated 30/11/2010. http://www.gulfkeystone.com/uploads/gulfkeystoneshaikanblockpiipreportasof11-30-2010.pdf Page 45 said: re. Upper Kurra Chine B ‘On the phase diagram in the PVT report, the recombined sample indicates a volatile oil at reservoir conditions. This was honoured in our estimates of gross unrisked Petroleum-Initially-In-Place. However, the in situ viscosity, API gravity and GOR suggest that it is possibly a retrograde gas condensate reservoir’. The API reported in the Kurra Chine B was 56.6 degree API." To expand on this, the RSC report indicated that the PVT tests revealed the recombined sample of oil and gas from the well test indicated the fluid had a bubble point pressure of 3474 psig at reservoir temperature. In other words as pressure was reduced from the reservoir pressure of about 3939 psig (bubbles of) gas was initially released. The fluid therefore has to be considered an oil. If the fluid had been a gas condensate at reservoir conditions then droplets of liquid would have been observed as the pressure dropped to the dew point. I also disagree with RSC when it says the GOR suggests it is a gas condensate. The GOR is in the range 3086 to 3225 scf/bbl which is within the commonly quoted upper limit of 3300 scf/bbl for a volatile oil. I agree the reported API of 56.6 is more commonly associated with a condensate but I am not aware that this would preclude it being a volatile oil. BTW volatile oils are somewhat rare; I have only been involved with one volatile oil reservoir. The concentration of heptanes and heavier components is one of the key indicators of whether a fluid is a gas condensate or a volatile oil. GKP will have this mol % value and should know whether it confirms Sh-1 KC-B is a volatile oil. RSC had the benefit of the PVT analysis for their report which would not have been available for the DGA discovery report which was written months earlier. The DGA gas resource estimates became fixed in the minds of most people during the intervening period between reports. Looking back at my notes written when the RSC report was published although I noted the volatile oil comments by RSC I observed other aspects to the report that carried more interest at the time and focused on these. My conclusion at the time was OK the lowest tested zone in Shaikan-1 is not a gas condensate but as the trend with depth is towards increasing GOR then gas condensate is probably underlying Sh-1 and this is simply a function of the source rock becoming over cooked. There are reasons to believe however that the conditions are right for oil generation beneath Sh-1 TD and these are discussed in section 5b) below. In respect of the KC-C zone, GKP has said that “This new zone is highly pressured and correlates with the high pressure zone penetrated at the bottom of Shaikan-1.” Further clarification is required as the term correlate leaves open just how similar the pressures are. Is the Shaikan 2 high pressure zone in direct pressure communication with Sh-1 and on the same oil pressure gradient? Because the interval was not tested at Sh-1, the only pressure data available is likely to be a shut in drill pipe pressure (assuming a kick was taken) used to determine the mud weight required to bring the well under control. Whilst this will give a reasonably good estimate of bottom hole pressure it may not be sufficiently accurate to confirm the two wells share the same oil pressure gradient. Further guidance is needed from GKP on this to tie up this particular loose end. THE POTENTIAL TRIASSIC/PERMIAN 7 Bn bbl OIP UPSIDE a) Previous Estimates are Gas Condensate Only Talking of estimates it does appear that DGA made no allowance for any oil reservoirs in the Triassic and Permian. DGA concluded “The seismic data shows structural closure down to 3,800 m SS TVD, leaving ~ 1,700 meters of prospective interval that could be tested by additional drilling. We estimate this interval could have ~ 200 meters of net pay and may contain ~ 1 to 5 BBO and 5 to 14 TCF of additional resources.” If you take the low end and high end estimates of 5 TCF and 1Bn bbl and 14TCF and 5Bn bbl respectively, this equates to a liquids yield of 200 bbl/MMCF and 357 bbl/MMCF for low and high end estimates. The figs are in the middle of the liquids yields from the Sh-1 KC-B gas condensate test which were 100 ¿ 450 bbl/MMCF indicating DGA estimated condensate volumes. The industry doesn¿t normally refer to a liquids yield for an oil field; instead it refers to gas liquid ratio. However if we did, the liquids yield for Sh-2 Kurre Chine C DST is about 5500 bbl/MMCF emphasising again that the DGA resource estimates don¿t allow for oil reservoirs in the Triassic/Permian. b) How deep could oil be encountered? The next issue to consider is how deep could oil be encountered in Shaikan? This is typically controlled by the regional temperature gradient. Increasing temperature with depth will result in an oil prone source rock being overcooked such that it generates gas after it has finished generating oil. The upper temperature limit of the oil window is about 130 ¿ 160 deg C, above this temperature gas is generated. Fortunately we know from the Sh-1B results that the temperature gradient in the Shaikan area is relatively low. A linear fit of the temperatures across DSTs 1-5 indicates the gradient is about 1.7 deg C/100m. As a result the oil window should extend down to between 6000 to 7800m MD, i.e. some 3000 to 4800m deeper than the Kurre Chine in Sh-1. DGA commented that there is an additional 1700 m of closure beneath the KC in Sh-1 and this would indicate deepest closure is well within the oil window. This doesnt guarantee that Sh-1 and Sh-2 are underlain by entirely by oil because the fluid type is controlled by the depth of the source rock not the depth at which the oil reservoir is encountered. However the source rock for the Cretaceous and Jurassic oil discovered at Shaikan is understood to be within the Jurassic (ref Feb 09 investor presentation). In the Feb09 presentation GKP also predicted the Triassic Geli Khana formation immediately beneath the Kurre Chine would be a source rock. So if the Kurre Chine and deeper horizons are sourced from the Jurassic source rock or the Geli Khana then the source rock is likely to be within the oil window. c) How much oil could be located in the Triassic and Permian? The Triassic and Permian formations are expected to comprise: The Lower Kurre Chine Geli Khana Beduh Mirga Mir Chia Zaira (Permian) The key offset well Jebel Kand 1 that contains the Jurassic regional aquifer data was in fact drilled as a test of much older, deeper horizons. JK-1 TDd at almost 6000m MD and it was in the Harur formation which is a Lower Carboniferous limestone. The key here is that the Carboniferous predates the Permian, i.e. it normally underlies the Permian. JK-1 had over 1600m of mid and early Triassic and Upper Permian formations underlying the Kurre Chine (source The Geology of Iraq) and most of these formations typically include either dolomites or limestones i.e. potential reservoirs. Obviously estimates are tentative and cover a very wide range at this stage. Shaikan has been such a tease and only revealed a small part of its deeper potential. RSC and DGA ascribed areas between 114 and 125.5 km2 to the KC. The trap area may decrease with depth depending on whether the north and south faults seal deeper in the section. Three estimates are shown to give an indication of potential OIP volumes. Low: 20m pay, 120 km2 (KC-C only), OIP = 1Bn bbl Mid: 100m pay, 100km2, (Average of KC and deeper horizons), OIP = 4.2 Bn bbl High: 200m pay (as per DGA and includes Permian), 100km2, OIP 7.1Bn bbl Note 1. The low case assumes only 20m of the 80m perforated for the DST is net pay. Note 2. The high case assumes deeper pay and decreased porosity with depth and so OIP is not 2x mid case. DGA did not quantify the underlying assumptions behind their estimates so a comparison can only be made at the highest level with the DGA range of 1Bn bbl + 5TCF and 5Bn bbl + 14 TCF. On an energy equivalent basis the DGA high side equates to 7.4 Bn boe and on a typical gas pricing basis 6.4 Bn boe. Hence the high side case I have illustrated falls between the DGA mmboe figures but of course is entirely oil not gas and condensate. CONCLUSIONS The Sh-2 initial Triassic test which produced a conventional light oil, together with the Sh-1 temperature profile, has opened the door to the Sh-1 and Sh-2 wells being underlain by oil not gas condensate as was previously concluded by DGA with the limited information it had at the time. The volatile oil produced from the deepest tested interval in Sh-1 is not the equivalent interval that produced the light oil in Sh-2. The interval tested in Sh-1 may be present in Sh-2 and is yet to be tested. DGAs April 11 update provided the following OIP figures following a test of the uppermost Jurassic pay interval in Sh-2: P90 = 4.9 Bn bbl Mean = 7.5 Bn bbl P10 = 10.8 Bn bbl P1 = 15 Bn bbl The Triassic and Permian intervals have the potential to substantially increase Shaikan¿s OIP values. We won¿t see an extra 1 Bn or 4.2 Bn or 7.1 Bn bbl added to the above numbers following the current well. We will need to see a well penetrate the Kurre Chine-C further downdip to approach the 1 Bn bbl. We will need to see a couple of wells at least penetrate the full Triassic section and establish net pay values below the KC-C to move towards the 4.2 or 7.1 Bn bbls figures. Sh-2 was the first step in unlocking the Triassic and Permian potential. Shaikan 4 may be the second, if any required modifications to the well design can be made to maximise the probability of penetrating the full Triassic and entering the Permian. And this is the biggest loose end, how to successfully drill the Triassic and Permian. Over to you GKP, please tie up this most important loose end. Regards, Gramacho
25/5/2021
11:57
mrtoddkozel: A snippet from 7/8 years ago.😀Exxon woos GKP to gain Kurdish baseMARK LEFTLY SUNDAY 18 DECEMBER 2011hxxp://ind.pn/tiA0gEUS oil supermajor Exxon Mobil is understood to have sounded out London-listed Gulf Keystone Petroleum (GKP) over a possible deal that could value the Kurdistan-focused group at around £7bn.GKP has a market capitalisation of around £1.5bn and is listed on the junior Aim market, but its chief executive, Todd Kozel, believes the group could eventually go for double-figure billions. GKP is sitting on what is considered to be one of the world's great recent oil finds â€" Shaikan, about 50 miles north-west of Kurdistan's capital, Erbil â€" but the regional government is known to want a supermajor on board to properly fund and develop the field.It is thought that the board would not accept the estimated £8-a-share that Exxon is considering and that a number of other companies, perhaps including China's Sinopec and Californian giant Chevron, are monitoring the situation. There is even some speculation that an informal four-way auction for GKP might be under way, while it is also believed that the company has spoken to at least two smaller businesses about potentially developing its assets in a joint venture.US oil supermajor Exxon Mobil is understood to have sounded out London-listed Gulf Keystone Petroleum (GKP) over a possible deal that could value the Kurdistan-focused group at around £7bn.GKP has a market capitalisation of around £1.5bn and is listed on the junior Aim market, but its chief executive, Todd Kozel, believes the group could eventually go for double-figure billions. GKP is sitting on what is considered to be one of the world's great recent oil finds â€" Shaikan, about 50 miles north-west of Kurdistan's capital, Erbil â€" but the regional government is known to want a supermajor on board to properly fund and develop the field.It is thought that the board would not accept the estimated £8-a-share that Exxon is considering and that a number of other companies, perhaps including China's Sinopec and Californian giant Chevron, are monitoring the situation. There is even some speculation that an informal four-way auction for GKP might be under way, while it is also believed that the company has spoken to at least two smaller businesses about potentially developing its assets in…
25/5/2021
10:33
beernut: A snippet from 7/8 years ago. 😀 Exxon woos GKP to gain Kurdish base MARK LEFTLY SUNDAY 18 DECEMBER 2011 hxxp://ind.pn/tiA0gE US oil supermajor Exxon Mobil is understood to have sounded out London-listed Gulf Keystone Petroleum (GKP) over a possible deal that could value the Kurdistan-focused group at around £7bn. GKP has a market capitalisation of around £1.5bn and is listed on the junior Aim market, but its chief executive, Todd Kozel, believes the group could eventually go for double-figure billions. GKP is sitting on what is considered to be one of the world's great recent oil finds – Shaikan, about 50 miles north-west of Kurdistan's capital, Erbil – but the regional government is known to want a supermajor on board to properly fund and develop the field. It is thought that the board would not accept the estimated £8-a-share that Exxon is considering and that a number of other companies, perhaps including China's Sinopec and Californian giant Chevron, are monitoring the situation. There is even some speculation that an informal four-way auction for GKP might be under way, while it is also believed that the company has spoken to at least two smaller businesses about potentially developing its assets in a joint venture. US oil supermajor Exxon Mobil is understood to have sounded out London-listed Gulf Keystone Petroleum (GKP) over a possible deal that could value the Kurdistan-focused group at around £7bn. GKP has a market capitalisation of around £1.5bn and is listed on the junior Aim market, but its chief executive, Todd Kozel, believes the group could eventually go for double-figure billions. GKP is sitting on what is considered to be one of the world's great recent oil finds – Shaikan, about 50 miles north-west of Kurdistan's capital, Erbil – but the regional government is known to want a supermajor on board to properly fund and develop the field. It is thought that the board would not accept the estimated £8-a-share that Exxon is considering and that a number of other companies, perhaps including China's Sinopec and Californian giant Chevron, are monitoring the situation. There is even some speculation that an informal four-way auction for GKP might be under way, while it is also believed that the company has spoken to at least two smaller businesses about potentially developing its assets in…
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