Share Name Share Symbol Market Type Share ISIN Share Description
Gulf Keystone Petroleum 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
  +1.00p +0.85% 118.00p 118.00p 118.20p 119.00p 117.00p 117.00p 217,951 16:35:13
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 157.4 -14.0 -25.0 - 270.73

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Date Time Title Posts
21/2/201800:36THE NEW GKP / Drilling for Super Giants (moderated)558,286
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17/1/201808:53Chix's road to riches!147
16/1/201809:39GKP - On Balance - Moderated44,834

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2018-02-20 16:51:19118.1816,04518,961.72O
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2018-02-20 16:30:00118.2022.36AT
2018-02-20 16:29:52118.20168198.58AT
2018-02-20 16:29:28118.20217256.49AT
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Gulf Keystone (GKP) Top Chat Posts

DateSubject
20/2/2018
08:20
Gulf Keystone Daily Update: Gulf Keystone Petroleum is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker GKP. The last closing price for Gulf Keystone was 117p.
Gulf Keystone Petroleum has a 4 week average price of 106p and a 12 week average price of 89.25p.
The 1 year high share price is 134.75p while the 1 year low share price is currently 86.25p.
There are currently 229,429,566 shares in issue and the average daily traded volume is 209,799 shares. The market capitalisation of Gulf Keystone Petroleum is £270,726,887.88.
15/2/2018
19:17
chamberpotwoman1: Oilman63 11 Jul '15 - 14:34 - 432252 of 552783 13 1 Here's a copy of the letter that the Mrs [Sarah, niece] has just posted out to the action group. Although she's a little cheeky and uses some of my comments, I thought it would be fair for all to see.... Just one other point to make. Andrew Simon pretty much gave my Mrs his undivided attention before and after the AGM.... It must have been the dress that did it "It's a new dawn It's a new day.... and I'm feeling good! Hello Action Group, it's been awhile! Just giving you an update after I attended the GKP AGM in Paris on Thursday as I know few investors were able to attend. Have you ever woken up in the morning, pulled back the curtains, the sun is shining, the sky is blue and the smell in the air is sweet? That's how i'm going to describe my AGM experience, albeit the chirping birds might come along and softly coat me with something unpleasant - that's the GKP share price and while that is largely unpleasant right now I couldn't help but smile on Thursday as that day had been a long time coming! A couple of us were sat in the bar on Wednesday night when along came Phil Dimmock and Jon Ferrier. After awhile Jon and Phil came and sat with us. What a breath of fresh air! On first impressions Jon isn't far from being a model CEO. He has had many years dealing with Ashti and knows him very well. Knows the business inside out, was the person responsible for moving Maersk in to Kurdistan so knows the area well and delivered his Syrian project on time and on budget despite very difficult circumstances. I asked Jon if he had any other commitments and he stressed that Gulf Keystone Petroleum will be his only priority, his full time job and I believed he takes it very seriously and is willing to give it his full commitment. Jon intends to spend 1 week out of every month in Erbil to maintain his relationship in Kurdistan and to keep up to date and in touch with the business. Not a yacht or a blackberry to be seen! He expressed empathy for some of the positions shareholders found themselves in and without question plans to overhaul Investor Relations as well as to provide opportunities for shareholders to meet with Company Directors and Officials so that they can feel confident in the way the company is progressing and to feedback any concerns of their own that they may have. The over-arching message that came across was that this man has a conscience and as such recognises his responsibility to and has a respect for his shareholders. On the other hand that doesn't make him a push over by any stretch of the imagination. Both him and Sami are very focused, very clear, very switched-on and very driven. The Dynamic Duo. They both set out their very clear vision for the future, - explaining that every barrel of oil sold so far in 2015 has been paid for - that they continue to negotiate with the KRG regarding the outstanding money owed - that expansion plans can only be considered when arrears are paid (or a clear plan is in place showing how they will be paid) - that while the company is up for sale, they will not accept just any offer - ALL the staff that I spoke to at the AGM stressed that the asset is very good, our problems stem from a lack of payment - that they intend to wrap up sales negotiations soon so that serious interest can either make a realistic bid or if not, that the company can focus their energies directly back in to the company. - a board aligned with shareholders, holding stock of their own It was accepted that it would not be in the KRG's interest to see us fail, they too want to see Shaikan and GKP do well. From general chatter, I picked up that our peers do class Shaikan as World Class and I think it was announced on the Wednesday that Kurdistan were going ahead with selling their own oil. All in all, despite the bird poo (the share price) I couldn't help but feel optimistic and relieved that we have the makings of a team that are aligned with us, shareholders and I think / hope that this could be the start of something special! So a big THANK YOU to team SAG, The picture that was painted on Wednesday and Thursday was the vision I had hoped for when SAG started and although it's taken a long time - they do say the best things are worth waiting for! ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- After the AGM a few shareholders asked about SAG and whether they could join. Initially I said it was pretty much dormant now but on reflection I think it would be a good idea to resume. I don't think any sort of action will need to be taken now if Jon drives his team forward with the vision he has set out, but it would cause no harm for shareholders to get together with a united front and be ready to act should a need ever in the future arise. The Institutional Investors have increased their holdings recently, they have a greater say and are well organised (but also conscientious) The bondholders are organised - look how they negotiated the BER issue But yet, the retail investors, GKP's largest group of investors are haphazard. Instead of being motivated to influence any kind of positive change they vent their frustrations or make fun at each other over a bulletin board. Some private investors have invested considerable sums of money in to this stock, this is not a way to behave. If they were over charged £10 at a shop they would speak to the shop owner, and if they got nowhere, they'd write a letter - but they'd sort it out. Here people are sat on losses of tens, if not hundreds of thousands and the best they can do is vent at another shareholder or get annoyed. Time to refocus that energy in my opinion, get your energy, like your money well spent. GKP SAG have proved they can be effective, decisive and efficient (getting our resoluntion in in the short space of time we had with the challenges that we faced in getting the paperwork together was a massive acheivement by all involved. It proved dedication and commitment.) So rather than waste our energies, I have set up a new group for EVERYONE to join who wants to - gkpshareholdergroup.boards.net - I hope to see as many of you over there as possible. It's a new dawn for GKP Let's make a new dawn for GKP's shareholders. All views my own, memory the same. Please don't take any of the above as investment advice." 🧀🐭
02/2/2018
19:23
chamberpotwoman1: Oilman63 11 Jul '15 - 14:34 - 432252 of 552783 13 1 Here's a copy of the letter that the Mrs [Sarah, niece] has just posted out to the action group. Although she's a little cheeky and uses some of my comments, I thought it would be fair for all to see.... Just one other point to make. Andrew Simon pretty much gave my Mrs his undivided attention before and after the AGM.... It must have been the dress that did it "It's a new dawn It's a new day.... and I'm feeling good! Hello Action Group, it's been awhile! Just giving you an update after I attended the GKP AGM in Paris on Thursday as I know few investors were able to attend. Have you ever woken up in the morning, pulled back the curtains, the sun is shining, the sky is blue and the smell in the air is sweet? That's how i'm going to describe my AGM experience, albeit the chirping birds might come along and softly coat me with something unpleasant - that's the GKP share price and while that is largely unpleasant right now I couldn't help but smile on Thursday as that day had been a long time coming! A couple of us were sat in the bar on Wednesday night when along came Phil Dimmock and Jon Ferrier. After awhile Jon and Phil came and sat with us. What a breath of fresh air! On first impressions Jon isn't far from being a model CEO. He has had many years dealing with Ashti and knows him very well. Knows the business inside out, was the person responsible for moving Maersk in to Kurdistan so knows the area well and delivered his Syrian project on time and on budget despite very difficult circumstances. I asked Jon if he had any other commitments and he stressed that Gulf Keystone Petroleum will be his only priority, his full time job and I believed he takes it very seriously and is willing to give it his full commitment. Jon intends to spend 1 week out of every month in Erbil to maintain his relationship in Kurdistan and to keep up to date and in touch with the business. Not a yacht or a blackberry to be seen! He expressed empathy for some of the positions shareholders found themselves in and without question plans to overhaul Investor Relations as well as to provide opportunities for shareholders to meet with Company Directors and Officials so that they can feel confident in the way the company is progressing and to feedback any concerns of their own that they may have. The over-arching message that came across was that this man has a conscience and as such recognises his responsibility to and has a respect for his shareholders. On the other hand that doesn't make him a push over by any stretch of the imagination. Both him and Sami are very focused, very clear, very switched-on and very driven. The Dynamic Duo. They both set out their very clear vision for the future, - explaining that every barrel of oil sold so far in 2015 has been paid for - that they continue to negotiate with the KRG regarding the outstanding money owed - that expansion plans can only be considered when arrears are paid (or a clear plan is in place showing how they will be paid) - that while the company is up for sale, they will not accept just any offer - ALL the staff that I spoke to at the AGM stressed that the asset is very good, our problems stem from a lack of payment - that they intend to wrap up sales negotiations soon so that serious interest can either make a realistic bid or if not, that the company can focus their energies directly back in to the company. - a board aligned with shareholders, holding stock of their own It was accepted that it would not be in the KRG's interest to see us fail, they too want to see Shaikan and GKP do well. From general chatter, I picked up that our peers do class Shaikan as World Class and I think it was announced on the Wednesday that Kurdistan were going ahead with selling their own oil. All in all, despite the bird poo (the share price) I couldn't help but feel optimistic and relieved that we have the makings of a team that are aligned with us, shareholders and I think / hope that this could be the start of something special! So a big THANK YOU to team SAG, The picture that was painted on Wednesday and Thursday was the vision I had hoped for when SAG started and although it's taken a long time - they do say the best things are worth waiting for! ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- After the AGM a few shareholders asked about SAG and whether they could join. Initially I said it was pretty much dormant now but on reflection I think it would be a good idea to resume. I don't think any sort of action will need to be taken now if Jon drives his team forward with the vision he has set out, but it would cause no harm for shareholders to get together with a united front and be ready to act should a need ever in the future arise. The Institutional Investors have increased their holdings recently, they have a greater say and are well organised (but also conscientious) The bondholders are organised - look how they negotiated the BER issue But yet, the retail investors, GKP's largest group of investors are haphazard. Instead of being motivated to influence any kind of positive change they vent their frustrations or make fun at each other over a bulletin board. Some private investors have invested considerable sums of money in to this stock, this is not a way to behave. If they were over charged Ãâ;€šÃ‚£10 at a shop they would speak to the shop owner, and if they got nowhere, they'd write a letter - but they'd sort it out. Here people are sat on losses of tens, if not hundreds of thousands and the best they can do is vent at another shareholder or get annoyed. Time to refocus that energy in my opinion, get your energy, like your money well spent. GKP SAG have proved they can be effective, decisive and efficient (getting our resoluntion in in the short space of time we had with the challenges that we faced in getting the paperwork together was a massive acheivement by all involved. It proved dedication and commitment.) So rather than waste our energies, I have set up a new group for EVERYONE to join who wants to - gkpshareholdergroup.boards.net - I hope to see as many of you over there as possible. It's a new dawn for GKP Let's make a new dawn for GKP's shareholders. All views my own, memory the same. Please don't take any of the above as investment advice." ⚖👮 8077;
28/1/2018
15:32
nestoframpers: Mikey on iii Due to something happening this weekend I have had reason to look over the Value Creation Plan (VCP) again, which I orignally thought it was a simple Share Bonus plan, but now I believe it sets out a timescale inside which is the reason for the last c.12 months of share price turmoil has taken place. Please Note the Dates mentioned in this post are IMO time critical to what has happen to the Share Price since late 2016 to when the current Rise began. On the "8th December 2016" GKP held an AGM to vote on 10 Proposals hxxp://ir1.euroinvestor.com/asp/ir/GulfKeystone/NewsRead.aspx?storyid=13481602&ishtml=1 Of the 10 Proposals Number 9 dealt with the VCP. On the "8th December 2016" after Major Shareholder intervention a changed VCP Proposal was passed. So the VCP came into force on the "8th December" On the "12th December 2016" the Completion of Share Consolidation RNS arrived and in that RNS is terms of the VCP are set out. http://www.gulfkeystone.com/media/108652/Proposed-consolidation-of-common-shares-and-notice-of-2016-AGM.pdf When the GKP Board of Directors made the VCP up and added it to the Proposals at the AGM, one has to remember that the Board of Directors are "termed" as INSIDERS, regarding when certain Events are going to happen, plus as far as I can ascertain GKP are still in a Closed Period. We know the Board of Directors knew they were in Discussions with the KRG/MNR regarding a 2nd Amendment to the Shaikan Licence as they have told us. After re-reading the VCP and RNS's surrounding the VCP today, I realised they indicated dates inside which there was time for certain things to happen, and I realised the Market aka The City also realised they had until from the 12th December 2016 to a point in December 2017 to grab as many Shares as possible many. Nothing ever happens without a reason. And in the Event, after c.13months of Share Price Shaking in order to gain close on 13,000,000 Shares to fill Institutional Funds Buy Orders, the Share Price began its "Written in the Stars Rise" from it bottom of 89.5p on "Friday 18th December 2017" 12 months 6 days AFTER the Completion of Share Consolidation RNS was released on the "12th December 2016" In the VCP part of the "12th December 2016" RNS in my opinion the Board of Directors used their "insider knowledge" to set out certain critera in the VCP to cover all eventualities and protect themselves from any "out of knowlege Events" happening. In Order to cover themselvess against another silly Offer being received in the first year of the VCP "before" the BoD received any Nil Cost Options under the VCP, the BoD added a "Special Provision" to the VCP to cover themselve against, (in their words what they call)an Exit Event" occuring inside the first 9 months of the VCP in which the BoD would have received 2% of the Agreed Sale Price of said Exit Event which they could share out between the VCP Recipients. That "Special Provision" was altered from the 1st 9 months of the VCP. . . to the 31st December 2017 and passed at the AGM as announced in the RNS of the 12th December 2016. hxxp://ir1.euroinvestor.com/asp/ir/GulfKeystone/NewsRead.aspx?storyid=13495537&ishtml=1 "A change to the Special Provision in the Event of a Change of Control. If the Company enters into a Binding Sales Agreement before the "31st December 2017 the value of the Units held by partisipants (IMO the VCP) shall be equal to 2% of the Aquisition Price". So the Board of Directors had covered themselves against a Offer arriving prematurely and being accepted before the "31st December 2017" which incidentally nicely covered the 8th December 2017 point at which any earned Nil Cost Options would be granted. But now as the 31st December 2017 has passed the "Special Provision" in the VCP has to be Null & Void It is hard to know if the VCP Chart contained in the pdf RNS has been changed from its original form to its revised form after some of the terms were revised at the 8th December 2016 AGM, and spelt out in the above RNS as :- "The Share Price for the purpose of measuring the VCP is based on $350,000,000 Market Cap :- an increase from $300 (due to Major Shareholder Intervention at the AGM, the MC the VCP was to be calculated on was raised from $300,000,000 to $350,000,000") http://www.gulfkeystone.com/media/108652/Proposed-consolidation-of-common-shares-and-notice-of-2016-AGM.pdf But in any case all I have to work on is the Value Creation Plan as listed in the RNS . pdf of the "12th December 2016" POINT OF NOTE :- the AGM occured on the "8th December 2016" . . . So all Resolutions which were passed at the AGM became LIVE on the "8th December 2016" including the VCP. So the VCP runs from the 8th December 2016 to the following date of the 8th December 2017 and onward. http://www.screencast.com/t/q2oamDt6B https://www.screencast.com/t/dM0LzlcVr2A As you can see in the second screencast of the VCP chart there is no mention of the $350,000,000 Market Cap mentions in the RNS of the "8th December 2016 Anyway from the VCP Chart in the pdf RNS of the "12th December 2016" For the Board of Directors to claim their "Nil Cost Options" (I believe) now of a Maximum of $20,000,000 per year, the Market Cap and hence the Share price has to rise to the prices set out below . . . Note. (a Year zero point on the 8th September 2016 may have been changed from a $300m MC to a $350m MC, which would have resulted at share price of $1.53 or 108p Year 0, 8th December 2016 . .$300m MC. . .equates to a share price of $1.31 or 92p Year 1, 8th December 2017 . . $375m MC . .equates to a share price of $1.64 or 116p . .was 106.15 Year 2, 8th December 2018 . . $425m MC . .equates to a share price of $1.85 or 131p Year 3, 8th December 2019 . . $467m MC . .equates to a share price of $2.04 or 144p Year 3, 8th December 2020 . .$495m MC . .equates to a share price of $2.16 or 152p Year 5, 8th December 2021 . .$545m MC . .equates to a share price of $2.38 or 168p From the above you can see that the Board of Directors "expected" the 2017 Shareprice to be at or above 116p on the "8th December 2017" and the Share Price closed on the "8th December 2017 Closed @ 93.2p So IMO the Board Of Directors missed their "8th December 2017" target and their $20,000,000 of Nil Cost Options for 2017. To recap. If the City realised they had 13 months to grab as many GKP Shares as possible before a Major News Event was announced, then the Board of Directors being "insiders", in the true sense of the word, would have certainly known roughly when such Major News Event was expected. So IMO the Market Cap the BoD expected when the VCP for 2017 was based on a Shareprice of 116p, was to have been reached by the "8th December 2017" could have only happened on the back a Major News Event . . . but such a Major News Event did not occur before the "8th December 2017" so cost the Board of Directors their "Nil Cost Options". But/Yet, on the "18th December 2017" the Shareprice bottomed and was release from the pressure holding it down and has since risen 40.3p or 45% at its peak. And I can't find any News of "reasonable significance" to have caused a rise of 40.3p or 45% to its peak, so the only other option I can presume is that the Rise has to been caused the "Expectation" that a Major News Event will occur. Mikey. GLA
23/1/2018
10:55
shediak: Good post from MickeyAdmin. What's driving the share price.? 14 months ago the Refinancing took place and until the 15th December we had over 13 months of ups and down while over 26 Institutions/Funds took Positions totalling over 12,300,000 in GKP. Then without any News in particular the Price bottomed on the 15th and 16th December and on the 19th December this Rise started. All I know of that time on the 15th & 16th December is that the look of Book changed very subtly from what it had been over the past year. The change of the Book being very subtle appeared significant for some reason, as certain Limit Orders on the Ask were either removed or Iceberged to lower amounts, and several Limit Orders on the Bid increased slightly in sized and more where added. It was as if a signal had been given to the Market that the last 12 months Order filling was over and the time had come for the Price to rise. On Monday the 19th December the Rise stutteringly started. On the 19th Dec I got little indication from my Chart other than a Double Bottom of 89.5 on the 15th & 16th Dec, but from my L2 the Opening Price on Monday the 19th Dec @ 91p caused me to again hit the Buy button just before I posted the Opening Auction. The un-named MM's and named DMM's working the Book, work for multi million Dollar Companies who through their Analyst's & Wholesale Level 2 Platforms which name every Order Owner, know a darned sight more of what's going on than us PI's in Retail Trade ever will. They know exactly who is Buying and who is Selling and possibly who the end Buyer or Seller actually was. Since the 19th December the Rise has continued steadily upwards from that starting 91p to todays Opening Price of 130p . . . a rise of 39p or 43% And as there has been no News of real Significance IMO all on the back of Expection of that elusive Significant News. I don't make the Charts and I haven't invented any of the lists of indictors one can use on the Charts and nor have I cause the 200sma & 50sma's to move closer and closer together this particular week. Indeed watching the Charts and the 200 & 50sma's moving together, and it amazes me that the two have been steadily and seemingly inextricably moving closer and closer together for many many Months, not just recently, which can only point to significant News is on the way How many folks on this Forum have often said GKP is under valued, from it money in the Bank, its Asset Shaikan and from the Oil it Produces......... Well IMO the compression of the Market Cap was to allow the Filling of over 12,300,000 of Institutional Orders which finished on the 15th Dec, and this present Rise is a rebound response to correct GKP's compressed Market Cap, and when the 200 & 50sma's cross they will form what is termed as Golden Cross which is a positive sign and GKP's Share Price & Market Cap will return to a true Market Valuation. What that final Price will be I ain't the foggiest but I'll be here watching There are forces & reasons we can only speculate about that move the Market so what will be will be GLA all Roughly 130,000 of Buys have happened at 130p so if the 559,602 @ 130p is Iceberged there's over 400k to plough through LP, 129.8p
06/12/2017
19:07
chickthickie1: Oilman63 11 Jul '15 - 14:34 - 432252 of 552783 13 1 Here's a copy of the letter that the Mrs [Sarah, niece] has just posted out to the action group. Although she's a little cheeky and uses some of my comments, I thought it would be fair for all to see.... Just one other point to make. Andrew Simon pretty much gave my Mrs his undivided attention before and after the AGM.... It must have been the dress that did it "It's a new dawn It's a new day.... and I'm feeling good! Hello Action Group, it's been awhile! Just giving you an update after I attended the GKP AGM in Paris on Thursday as I know few investors were able to attend. Have you ever woken up in the morning, pulled back the curtains, the sun is shining, the sky is blue and the smell in the air is sweet? That's how i'm going to describe my AGM experience, albeit the chirping birds might come along and softly coat me with something unpleasant - that's the GKP share price and while that is largely unpleasant right now I couldn't help but smile on Thursday as that day had been a long time coming! A couple of us were sat in the bar on Wednesday night when along came Phil Dimmock and Jon Ferrier. After awhile Jon and Phil came and sat with us. What a breath of fresh air! On first impressions Jon isn't far from being a model CEO. He has had many years dealing with Ashti and knows him very well. Knows the business inside out, was the person responsible for moving Maersk in to Kurdistan so knows the area well and delivered his Syrian project on time and on budget despite very difficult circumstances. I asked Jon if he had any other commitments and he stressed that Gulf Keystone Petroleum will be his only priority, his full time job and I believed he takes it very seriously and is willing to give it his full commitment. Jon intends to spend 1 week out of every month in Erbil to maintain his relationship in Kurdistan and to keep up to date and in touch with the business. Not a yacht or a blackberry to be seen! He expressed empathy for some of the positions shareholders found themselves in and without question plans to overhaul Investor Relations as well as to provide opportunities for shareholders to meet with Company Directors and Officials so that they can feel confident in the way the company is progressing and to feedback any concerns of their own that they may have. The over-arching message that came across was that this man has a conscience and as such recognises his responsibility to and has a respect for his shareholders. On the other hand that doesn't make him a push over by any stretch of the imagination. Both him and Sami are very focused, very clear, very switched-on and very driven. The Dynamic Duo. They both set out their very clear vision for the future, - explaining that every barrel of oil sold so far in 2015 has been paid for - that they continue to negotiate with the KRG regarding the outstanding money owed - that expansion plans can only be considered when arrears are paid (or a clear plan is in place showing how they will be paid) - that while the company is up for sale, they will not accept just any offer - ALL the staff that I spoke to at the AGM stressed that the asset is very good, our problems stem from a lack of payment - that they intend to wrap up sales negotiations soon so that serious interest can either make a realistic bid or if not, that the company can focus their energies directly back in to the company. - a board aligned with shareholders, holding stock of their own It was accepted that it would not be in the KRG's interest to see us fail, they too want to see Shaikan and GKP do well. From general chatter, I picked up that our peers do class Shaikan as World Class and I think it was announced on the Wednesday that Kurdistan were going ahead with selling their own oil. All in all, despite the bird poo (the share price) I couldn't help but feel optimistic and relieved that we have the makings of a team that are aligned with us, shareholders and I think / hope that this could be the start of something special! So a big THANK YOU to team SAG, The picture that was painted on Wednesday and Thursday was the vision I had hoped for when SAG started and although it's taken a long time - they do say the best things are worth waiting for! ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- After the AGM a few shareholders asked about SAG and whether they could join. Initially I said it was pretty much dormant now but on reflection I think it would be a good idea to resume. I don't think any sort of action will need to be taken now if Jon drives his team forward with the vision he has set out, but it would cause no harm for shareholders to get together with a united front and be ready to act should a need ever in the future arise. The Institutional Investors have increased their holdings recently, they have a greater say and are well organised (but also conscientious) The bondholders are organised - look how they negotiated the BER issue But yet, the retail investors, GKP's largest group of investors are haphazard. Instead of being motivated to influence any kind of positive change they vent their frustrations or make fun at each other over a bulletin board. Some private investors have invested considerable sums of money in to this stock, this is not a way to behave. If they were over charged £10 at a shop they would speak to the shop owner, and if they got nowhere, they'd write a letter - but they'd sort it out. Here people are sat on losses of tens, if not hundreds of thousands and the best they can do is vent at another shareholder or get annoyed. Time to refocus that energy in my opinion, get your energy, like your money well spent. GKP SAG have proved they can be effective, decisive and efficient (getting our resoluntion in in the short space of time we had with the challenges that we faced in getting the paperwork together was a massive acheivement by all involved. It proved dedication and commitment.) So rather than waste our energies, I have set up a new group for EVERYONE to join who wants to - gkpshareholdergroup.boards.net - I hope to see as many of you over there as possible. It's a new dawn for GKP Let's make a new dawn for GKP's shareholders. All views my own, memory the same. Please don't take any of the above as investment advice."
26/11/2017
17:18
chickthickie1: Oilman6311 Jul '15 - 14:34 - 432252 of 552783 13 1 Here's a copy of the letter that the Mrs has just posted out to the action group. Although she's a little cheeky and uses some of my comments, I thought it would be fair for all to see.... Just one other point to make. Andrew Simon pretty much gave my Mrs his undivided attention before and after the AGM.... It must have been the dress that did it "It's a new dawn It's a new day.... and I'm feeling good! Hello Action Group, it's been awhile! Just giving you an update after I attended the GKP AGM in Paris on Thursday as I know few investors were able to attend. Have you ever woken up in the morning, pulled back the curtains, the sun is shining, the sky is blue and the smell in the air is sweet? That's how i'm going to describe my AGM experience, albeit the chirping birds might come along and softly coat me with something unpleasant - that's the GKP share price and while that is largely unpleasant right now I couldn't help but smile on Thursday as that day had been a long time coming! A couple of us were sat in the bar on Wednesday night when along came Phil Dimmock and Jon Ferrier. After awhile Jon and Phil came and sat with us. What a breath of fresh air! On first impressions Jon isn't far from being a model CEO. He has had many years dealing with Ashti and knows him very well. Knows the business inside out, was the person responsible for moving Maersk in to Kurdistan so knows the area well and delivered his Syrian project on time and on budget despite very difficult circumstances. I asked Jon if he had any other commitments and he stressed that Gulf Keystone Petroleum will be his only priority, his full time job and I believed he takes it very seriously and is willing to give it his full commitment. Jon intends to spend 1 week out of every month in Erbil to maintain his relationship in Kurdistan and to keep up to date and in touch with the business. Not a yacht or a blackberry to be seen! He expressed empathy for some of the positions shareholders found themselves in and without question plans to overhaul Investor Relations as well as to provide opportunities for shareholders to meet with Company Directors and Officials so that they can feel confident in the way the company is progressing and to feedback any concerns of their own that they may have. The over-arching message that came across was that this man has a conscience and as such recognises his responsibility to and has a respect for his shareholders. On the other hand that doesn't make him a push over by any stretch of the imagination. Both him and Sami are very focused, very clear, very switched-on and very driven. The Dynamic Duo. They both set out their very clear vision for the future, - explaining that every barrel of oil sold so far in 2015 has been paid for - that they continue to negotiate with the KRG regarding the outstanding money owed - that expansion plans can only be considered when arrears are paid (or a clear plan is in place showing how they will be paid) - that while the company is up for sale, they will not accept just any offer - ALL the staff that I spoke to at the AGM stressed that the asset is very good, our problems stem from a lack of payment - that they intend to wrap up sales negotiations soon so that serious interest can either make a realistic bid or if not, that the company can focus their energies directly back in to the company. - a board aligned with shareholders, holding stock of their own It was accepted that it would not be in the KRG's interest to see us fail, they too want to see Shaikan and GKP do well. From general chatter, I picked up that our peers do class Shaikan as World Class and I think it was announced on the Wednesday that Kurdistan were going ahead with selling their own oil. All in all, despite the bird poo (the share price) I couldn't help but feel optimistic and relieved that we have the makings of a team that are aligned with us, shareholders and I think / hope that this could be the start of something special! So a big THANK YOU to team SAG, The picture that was painted on Wednesday and Thursday was the vision I had hoped for when SAG started and although it's taken a long time - they do say the best things are worth waiting for! ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- After the AGM a few shareholders asked about SAG and whether they could join. Initially I said it was pretty much dormant now but on reflection I think it would be a good idea to resume. I don't think any sort of action will need to be taken now if Jon drives his team forward with the vision he has set out, but it would cause no harm for shareholders to get together with a united front and be ready to act should a need ever in the future arise. The Institutional Investors have increased their holdings recently, they have a greater say and are well organised (but also conscientious) The bondholders are organised - look how they negotiated the BER issue But yet, the retail investors, GKP's largest group of investors are haphazard. Instead of being motivated to influence any kind of positive change they vent their frustrations or make fun at each other over a bulletin board. Some private investors have invested considerable sums of money in to this stock, this is not a way to behave. If they were over charged £10 at a shop they would speak to the shop owner, and if they got nowhere, they'd write a letter - but they'd sort it out. Here people are sat on losses of tens, if not hundreds of thousands and the best they can do is vent at another shareholder or get annoyed. Time to refocus that energy in my opinion, get your energy, like your money well spent. GKP SAG have proved they can be effective, decisive and efficient (getting our resoluntion in in the short space of time we had with the challenges that we faced in getting the paperwork together was a massive acheivement by all involved. It proved dedication and commitment.) So rather than waste our energies, I have set up a new group for EVERYONE to join who wants to - gkpshareholdergroup.boards.net - I hope to see as many of you over there as possible. It's a new dawn for GKP Let's make a new dawn for GKP's shareholders. All views my own, memory the same. Please don't take any of the above as investment advice."
23/10/2017
21:29
chamberpotwoman1: Oilman63 11 Jul '15 - 15:34 - 432252 of 546123 13 1 Here's a copy of the letter that the Mrs has just posted out to the action group. Although she's a little cheeky and uses some of my comments, I thought it would be fair for all to see.... Just one other point to make. Andrew Simon pretty much gave my Mrs his undivided attention before and after the AGM.... It must have been the dress that did it "It's a new dawn It's a new day.... and I'm feeling good! Hello Action Group, it's been awhile! Just giving you an update after I attended the GKP AGM in Paris on Thursday as I know few investors were able to attend. Have you ever woken up in the morning, pulled back the curtains, the sun is shining, the sky is blue and the smell in the air is sweet? That's how i'm going to describe my AGM experience, albeit the chirping birds might come along and softly coat me with something unpleasant - that's the GKP share price and while that is largely unpleasant right now I couldn't help but smile on Thursday as that day had been a long time coming! A couple of us were sat in the bar on Wednesday night when along came Phil Dimmock and Jon Ferrier. After awhile Jon and Phil came and sat with us. What a breath of fresh air! On first impressions Jon isn't far from being a model CEO. He has had many years dealing with Ashti and knows him very well. Knows the business inside out, was the person responsible for moving Maersk in to Kurdistan so knows the area well and delivered his Syrian project on time and on budget despite very difficult circumstances. I asked Jon if he had any other commitments and he stressed that Gulf Keystone Petroleum will be his only priority, his full time job and I believed he takes it very seriously and is willing to give it his full commitment. Jon intends to spend 1 week out of every month in Erbil to maintain his relationship in Kurdistan and to keep up to date and in touch with the business. Not a yacht or a blackberry to be seen! He expressed empathy for some of the positions shareholders found themselves in and without question plans to overhaul Investor Relations as well as to provide opportunities for shareholders to meet with Company Directors and Officials so that they can feel confident in the way the company is progressing and to feedback any concerns of their own that they may have. The over-arching message that came across was that this man has a conscience and as such recognises his responsibility to and has a respect for his shareholders. On the other hand that doesn't make him a push over by any stretch of the imagination. Both him and Sami are very focused, very clear, very switched-on and very driven. The Dynamic Duo. They both set out their very clear vision for the future, - explaining that every barrel of oil sold so far in 2015 has been paid for - that they continue to negotiate with the KRG regarding the outstanding money owed - that expansion plans can only be considered when arrears are paid (or a clear plan is in place showing how they will be paid) - that while the company is up for sale, they will not accept just any offer - ALL the staff that I spoke to at the AGM stressed that the asset is very good, our problems stem from a lack of payment - that they intend to wrap up sales negotiations soon so that serious interest can either make a realistic bid or if not, that the company can focus their energies directly back in to the company. - a board aligned with shareholders, holding stock of their own It was accepted that it would not be in the KRG's interest to see us fail, they too want to see Shaikan and GKP do well. From general chatter, I picked up that our peers do class Shaikan as World Class and I think it was announced on the Wednesday that Kurdistan were going ahead with selling their own oil. All in all, despite the bird poo (the share price) I couldn't help but feel optimistic and relieved that we have the makings of a team that are aligned with us, shareholders and I think / hope that this could be the start of something special! So a big THANK YOU to team SAG, The picture that was painted on Wednesday and Thursday was the vision I had hoped for when SAG started and although it's taken a long time - they do say the best things are worth waiting for! ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- After the AGM a few shareholders asked about SAG and whether they could join. Initially I said it was pretty much dormant now but on reflection I think it would be a good idea to resume. I don't think any sort of action will need to be taken now if Jon drives his team forward with the vision he has set out, but it would cause no harm for shareholders to get together with a united front and be ready to act should a need ever in the future arise. The Institutional Investors have increased their holdings recently, they have a greater say and are well organised (but also conscientious) The bondholders are organised - look how they negotiated the BER issue But yet, the retail investors, GKP's largest group of investors are haphazard. Instead of being motivated to influence any kind of positive change they vent their frustrations or make fun at each other over a bulletin board. Some private investors have invested considerable sums of money in to this stock, this is not a way to behave. If they were over charged £10 at a shop they would speak to the shop owner, and if they got nowhere, they'd write a letter - but they'd sort it out. Here people are sat on losses of tens, if not hundreds of thousands and the best they can do is vent at another shareholder or get annoyed. Time to refocus that energy in my opinion, get your energy, like your money well spent. GKP SAG have proved they can be effective, decisive and efficient (getting our resoluntion in in the short space of time we had with the challenges that we faced in getting the paperwork together was a massive acheivement by all involved. It proved dedication and commitment.) So rather than waste our energies, I have set up a new group for EVERYONE to join who wants to - gkpshareholdergroup.boards.net - I hope to see as many of you over there as possible. It's a new dawn for GKP Let's make a new dawn for GKP's shareholders
23/10/2017
21:22
chamberpotwoman1: Oilman63 11 Jul '15 - 15:34 - 432252 of 546123 13 1 Here's a copy of the letter that the Mrs has just posted out to the action group. Although she's a little cheeky and uses some of my comments, I thought it would be fair for all to see.... Just one other point to make. Andrew Simon pretty much gave my Mrs his undivided attention before and after the AGM.... It must have been the dress that did it "It's a new dawn It's a new day.... and I'm feeling good! Hello Action Group, it's been awhile! Just giving you an update after I attended the GKP AGM in Paris on Thursday as I know few investors were able to attend. Have you ever woken up in the morning, pulled back the curtains, the sun is shining, the sky is blue and the smell in the air is sweet? That's how i'm going to describe my AGM experience, albeit the chirping birds might come along and softly coat me with something unpleasant - that's the GKP share price and while that is largely unpleasant right now I couldn't help but smile on Thursday as that day had been a long time coming! A couple of us were sat in the bar on Wednesday night when along came Phil Dimmock and Jon Ferrier. After awhile Jon and Phil came and sat with us. What a breath of fresh air! On first impressions Jon isn't far from being a model CEO. He has had many years dealing with Ashti and knows him very well. Knows the business inside out, was the person responsible for moving Maersk in to Kurdistan so knows the area well and delivered his Syrian project on time and on budget despite very difficult circumstances. I asked Jon if he had any other commitments and he stressed that Gulf Keystone Petroleum will be his only priority, his full time job and I believed he takes it very seriously and is willing to give it his full commitment. Jon intends to spend 1 week out of every month in Erbil to maintain his relationship in Kurdistan and to keep up to date and in touch with the business. Not a yacht or a blackberry to be seen! He expressed empathy for some of the positions shareholders found themselves in and without question plans to overhaul Investor Relations as well as to provide opportunities for shareholders to meet with Company Directors and Officials so that they can feel confident in the way the company is progressing and to feedback any concerns of their own that they may have. The over-arching message that came across was that this man has a conscience and as such recognises his responsibility to and has a respect for his shareholders. On the other hand that doesn't make him a push over by any stretch of the imagination. Both him and Sami are very focused, very clear, very switched-on and very driven. The Dynamic Duo. They both set out their very clear vision for the future, - explaining that every barrel of oil sold so far in 2015 has been paid for - that they continue to negotiate with the KRG regarding the outstanding money owed - that expansion plans can only be considered when arrears are paid (or a clear plan is in place showing how they will be paid) - that while the company is up for sale, they will not accept just any offer - ALL the staff that I spoke to at the AGM stressed that the asset is very good, our problems stem from a lack of payment - that they intend to wrap up sales negotiations soon so that serious interest can either make a realistic bid or if not, that the company can focus their energies directly back in to the company. - a board aligned with shareholders, holding stock of their own It was accepted that it would not be in the KRG's interest to see us fail, they too want to see Shaikan and GKP do well. From general chatter, I picked up that our peers do class Shaikan as World Class and I think it was announced on the Wednesday that Kurdistan were going ahead with selling their own oil. All in all, despite the bird poo (the share price) I couldn't help but feel optimistic and relieved that we have the makings of a team that are aligned with us, shareholders and I think / hope that this could be the start of something special! So a big THANK YOU to team SAG, The picture that was painted on Wednesday and Thursday was the vision I had hoped for when SAG started and although it's taken a long time - they do say the best things are worth waiting for! ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- After the AGM a few shareholders asked about SAG and whether they could join. Initially I said it was pretty much dormant now but on reflection I think it would be a good idea to resume. I don't think any sort of action will need to be taken now if Jon drives his team forward with the vision he has set out, but it would cause no harm for shareholders to get together with a united front and be ready to act should a need ever in the future arise. The Institutional Investors have increased their holdings recently, they have a greater say and are well organised (but also conscientious) The bondholders are organised - look how they negotiated the BER issue But yet, the retail investors, GKP's largest group of investors are haphazard. Instead of being motivated to influence any kind of positive change they vent their frustrations or make fun at each other over a bulletin board. Some private investors have invested considerable sums of money in to this stock, this is not a way to behave. If they were over charged £10 at a shop they would speak to the shop owner, and if they got nowhere, they'd write a letter - but they'd sort it out. Here people are sat on losses of tens, if not hundreds of thousands and the best they can do is vent at another shareholder or get annoyed. Time to refocus that energy in my opinion, get your energy, like your money well spent. GKP SAG have proved they can be effective, decisive and efficient (getting our resoluntion in in the short space of time we had with the challenges that we faced in getting the paperwork together was a massive acheivement by all involved. It proved dedication and commitment.) So rather than waste our energies, I have set up a new group for EVERYONE to join who wants to - gkpshareholdergroup.boards.net - I hope to see as many of you over there as possible. It's a new dawn for GKP Let's make a new dawn for GKP's shareholders.
30/8/2017
08:48
oil_investor: Oh dear. Now "jozeki" is editing posts to give a totally false impression. Below is the ACTUAL post, rather than his doctored version. WildRider723 Aug '16 - 16:08 - 512207 of 546219 9 1 ok here are the 2015 questions brought at the AGM, different day, same sheet (DDSS) 1. SHAIKAN OPERATIONS - CURRENT 1.1 What was the flow rate on test of Shaikan-7 and Shaikan-11? 1.2 What is the total potential output of all the Shaikan wells drilled so far, irrespective of the surface capacity at PF-1 and PF-2, at a rate which would not lead to reservoir damage? 1.3 What is the total daily fluid handling capacity of PF-1 plus PF-2 with the de-bottlenecking of PF-2 completed? 1.4 What is the current oil-cut at Shaikan? 2. SHAIKAN OPERATIONS - GOING FORWARD 2.1 What is required to be done to achieve 70,000 barrels of oil per day in terms of wells and surface facilities? Is the leasing of Early Production Facility equipment an option? 2.2. what is the earliest date by which 70,000 bopd could be achieved? 3. SHEIKH ADI OPERATIONS - GOING FORWARD 3.1 what is the total potential daily production capability of the existing Sheikh Adi wells and when will Sheikh Adi be brought onto commercial production? 3.2 is there a "Phase One" production target for Sheikh Adi? What is it? 4. AKRI-BIJEEL OPERATIONS 4.1. in March 2014 Akri-Bijeel was described by the operator Kalegran (MOL) as producing an initial 3,500 barrels of oil per day. In August 2014 it was stated that Akri-Bijeel would reach some 35,000 barrels of oil per day during 2015. What was the average daily production during the past twelve months, what is the current production level, and when will the 35,000 barrels of oil per day level be achieved? 5. RESERVES AND RESOURCES 5.1 ERC Equipoise said in their 12 March 2014 Competent Person Report that they were assuming the fracture porosity at Shaikan to be 0.4%, though Gulf Keystone Petroleum indicated in their presentation the following day that they thought the actual level was higher. In April 2014 John Stafford of Gulf Keystone described the Shaikan reservoirs to the American Association of Petroleum Geologists in Houston, Texas as "highly fractured" and John Gerstenlauer had on 13 March 2014 said that there was "one hell of a fracture system" at Shaikan. He also later described the drill bit at Shaikan dropping some three metres through some sort of void, and cavernous porosity is recorded for the Kurdistan Zagros in the academic literature. The company seems reluctant to publish numbers for the fracture porosity, but in a presentation in May 2012 Gulf said in one of the slides that fracture system had been quantified. Various studies have been done since 2009 by a number of external fracture consultants but the results have never been published. Gulf Keystone said on 13 March 2014 that each additional 0.2% on the Fracture Porosity would add 0.8 billion barrels of Reserves and Resources. The Ryder Scott report of November 2010 appeared to have looked into the Fracture Porosity (p.36/37) without stating what it was, though matrix porosity was given. Ryder Scott stated on page 42 that "The Permeability appears to be extremely high and the porosity consistent with a world class asset." The Competent Person Report lists some - but not all – source documents used in preparing that Report. Were all the studies done both internally and externally into the Shaikan Fracture System given to ERC Equipoise? If so, why are they not referenced? If not, why not? 5.2 what is Gulf's current view of the Shaikan fracture porosity? Expressed as a percentage? 5.3 John Gerstenlauer said on 13 March 2014 that production data would be important in quantifying the Shaikan fracture system. Some ten million barrels of Shaikan crude oil have now been produced. Have new studies been commissioned by Gulf to quantify the fracture porosity? Who has done/is doing them? What do they show? 5.4 the Competent Person Report implied a Recovery Factor for Shaikan of just 12%. This shocked many shareholders, because Adnan Samarrai, John Gerstenlauer and Todd Kozel had all guided a Recovery Factor of about one-third. No examples of a highly-fractured carbonate reservoir, with matrix porosities similar to those of Shaikan's Jurassic reservoirs, can be found in the academic literature with Recovery Factors as low as Shaikan's purported 12% level. A recent Society of Petroleum Engineers conference in Istanbul gave the current average worldwide carbonate Recovery Factor at 30%, and the conference discussed how this average might potentially be raised to 60% or more. Mr. Zouari of Gulf Keystone Petroleum indicated in his March 2015 presentation that the 12% figure should move upwards and by inference Gulf does not consider that 12% is a reliable pointer to the proportion of the Oil In Place which can actually be recovered. What does the company currently believe the Shaikan Recovery Factor to potentially be, assuming gas re-injection? 5.5 what percentage of oil can be recovered from the reservoir matrix, or is it still unknown? 5.6 John Gerstenlauer said in 2014 that there would be updates to the Reserves and Resources numbers for Shaikan. There has been no such update. When will there be such an update? Whose decision is it when such an update will be done? 5.7 Kalegran (MOL) indicated on 13 March 2014 that they were not happy with the figures given by ERC Equipoise for the Reserves and Resources at the Akr-Bijeel oilfield. New figures were promised by MOL but they have not appeared. When will they appear? 5.8 John Gerstenlauer told Lord Justice Christopher Clarke at the Excalibur trial in late 2012, under oath, that the results at Akri-Bijeel kept increasing the value of the asset and that Gulf Keystone were playing it clever and would not sell the asset, which has been for sale as a non-core asset for a long time, too cheaply. When he made that statement under oath he and his colleagues had guided that the Gulf Keystone stake in Akri-Bijeel was worth between $350 million and $500 million. What is the company's current view of the value of this asset, which has so far absorbed a substantial amount of capital and about which the shareholders currently know very little? Were there ever any serious offers for it? 5.9 high recovery rates are potentially possible with secondary recovery ("Enhanced Oil Recovery" or "EOR") methods. Are Gulf Keystone and Kalegran investigating the longer-term application of EOR at Shaikan and Akri-Bijeel? If not, why not? If so, when will the results be available for the shareholders? 6. FINANCES 6.1 what is the price paid per barrel to Gulf for Shaikan export crude as at June 2015? 6.2 what is the price paid per barrel for Gulf for Shaikan domestic crude at June 2015? 6.3 what is the total sum currently owed to Gulf by the Kurdistan Regional Government? 6.4 who decides whether the Shaikan crude is sold into the export or local market? 6.5 can we have an assurance that Texas Keystone interest can in no circumstances exceed 5%? 6.6. the Bond Equity Ratio issue came as a shock to shareholders. Can you give an assurance that there are no other such undisclosed "issues" concerning Gulf's finances? 7. INVESTOR RELATIONS 7.1 why are emails from shareholders left unanswered? 7.2 how many emails sent to the company are currently unanswered? 7.3 why are emails from shareholders to the directors of the company - including emails about why emails are unanswered - not answered? 7.4 why are shareholders prevented from speaking to the directors, despite the UK Corporate Governance Code explicitly stating that the Senior Independent Director needs to be available to shareholders in the event of concerns which are otherwise unanswered? 7.5 why have there been no open presentations, as the company used to give at Oilbarrel and Proactive Investor, for nearly four years? Why are contradictory excuses given by Gulf for not holding such open presentations? 7.6 why should shareholders have to spend their money travelling to Bermuda and Paris to ask questions of directors? Why did Simon Murray fail to address a list of questions put to him on behalf of 130+ shareholders in late 2013? 7.7 why has the Investor Relations Manager responded aggressively to a number of shareholders who asked to see the slides which John Stafford used at the April 2014 American Association of Petroleum Geologists presentation in Houston, Texas? Why should slides, which have been publicly presented to hundreds of people, cause that reaction? Why does the company allow hundreds of non-shareholders who have not signed Non Disclosure Agreements to receive information which is then denied to the shareholders? 7.8 why does the IR manager refuse to make available the slides used by John Stafford at his presentation to the Petroleum Exploration Society of Great Britain in July 2013? 7.9 will you give a commitment to put John Stafford's slides onto the company website, so that the shareholders can see what hundreds of other people have already seen? 7.10 why is the "GulfTV" channel, which was introduced in late 2013 to improve communication with shareholders, which Todd Kozel admitted in the first episode needed improvement, not been more fully used? 7.11 why does Gulf do nothing visible in terms of public relations? 7.12 many shareholders consider that the RNSs are badly written, and fail to convey clarity, and fail to positively promote the company. For example Shaikan is variously described as a "world-class" asset, and as a "major" asset, with the description shifting from week to week, implying that there is significance to these apparent upgrading and downgradings? Another example is an RNS which was interpreted as Mr. Todd Kozel selling almost all his shares, which led shareholders to believe that the Chairman and CEO lacked confidence in the company. In reality this was something linked to repayment of a loan connected with his divorce. Does the company consider this situation with RNSs to be acceptable? If not, what is going to be done about it? 8. COMPANY WEBSITE 8.1 why is the website out-of-date, and why does it remain so despite the company being told at board level, and on a number of occasions, about the problem? 8.2 do the directors ever look at the website? If so, why is there a misleading statement about Sheikh Adi - that a well which was spudded in 2013 is still drilling ahead at 2,240 metres in the Jurassic, but which is actually completed - remain on public view? If not, why? 9. LEAKAGE OF REGULATORY NEWS SERVICE ANNOUNCEMENTS TO SKY NEWS 9.1 has the board discussed the longstanding leakage of Gulf Keystone's RNSs and other company information to Mr. Mark Kleinman of Sky News, and is this referenced in board agenda items and formal minutes? 9.2 does the company know who has been leaking the information? If so, when did it find out, why does it continue, and what action is being taken about it? Have private detectives e.g. Kroll been appointed to investigate and identify the person responsible? If not, why not? 10. SHARE PRICE 10.1 the company's lawyers Memery Crystal claimed that Gulf's share price had dropped in early 2013 because of posts on Twitter by a person called "Spencer Freeman". But Mr Freeman was actually a bullish commentator. The share price has lost some 93% of its value. It cannot possibly be Mr. Freeman who caused the drop in the share price. In July 2013 Todd Kozel said at the Investor Day that the legal claim by Excalibur had imposed a "glass ceiling" on the share price. Mr. Kozel personally described the claim as "frivolous" and two months later the claim was wholly rejected by Lord Justice Christopher Clarke in a damning verdict. The share price when Mr. Kozel made those comments was 151p. It is now about 35p, a drop of some 77%. What explanation does the company now offer for the current share price? 11. BOND EQUITY RATIO ("BER") ISSUE 11.1 the write down of the value of the Akri-Bijeel asset triggered a problem with the BER and required change to the arrangements with Bondholders and to the company's finances. When was the board first told about this problem, and why did the board not deal with it earlier? 12. BOARD AND CORPORATE GOVERNANCE 12.1 why have so many directors apparently been forced to leave the company since 2013? 12.2 what role did Mr. Todd Kozel play, as an "officer" of the company, between the end of his period as Chief Executive Officer in 2014 and his final departure in 2015? 12.3 the 2014 London Stock Exchange Main Listing Prospectus explicitly stated that Mr. Kozel's presence at the company was essential. Was this true? If so, then assuming it is no longer true, when did this change and why? 12.4 are all board appointments made following an independently conducted search or open advertising process, as recommended by the UK Corporate Governance Code? If not why? 12.5 what is the position regarding the appointment of a new permanent Chairman? 12.6 when is the endless stream of director changes going to stop? 12.7 does the company consider that Umur Eminkahyagil the Kurdistan Country Manager would be a valuable addition to the board, bearing in mind his experience and the fundamental importance to shareholder value of what he and his team in Kurdistan are doing?
29/8/2017
11:29
shediak: The 2015 AGM was held in Paris. Oilman attended and introduced Sarah as his wife. The previous evening they engaged with Jon Ferrier and Phillip Dimmock in the hotel bar. That conversation will now be in the library of tapes which is larger than that of Sony, and therefore on an industrial scale. Two days after the AGM Oilman put up the following post (no.432252) which again refers to Sarah as his wife. This post details what Oilman and Sarah really think the prospects are for GKP. I suggest you read it. ------ Oilman63 11 Jul '15 - 15:34 - 432252 of 546123 13 1 Here's a copy of the letter that the Mrs has just posted out to the action group. Although she's a little cheeky and uses some of my comments, I thought it would be fair for all to see.... Just one other point to make. Andrew Simon pretty much gave my Mrs his undivided attention before and after the AGM.... It must have been the dress that did it "It's a new dawn It's a new day.... and I'm feeling good! Hello Action Group, it's been awhile! Just giving you an update after I attended the GKP AGM in Paris on Thursday as I know few investors were able to attend. Have you ever woken up in the morning, pulled back the curtains, the sun is shining, the sky is blue and the smell in the air is sweet? That's how i'm going to describe my AGM experience, albeit the chirping birds might come along and softly coat me with something unpleasant - that's the GKP share price and while that is largely unpleasant right now I couldn't help but smile on Thursday as that day had been a long time coming! A couple of us were sat in the bar on Wednesday night when along came Phil Dimmock and Jon Ferrier. After awhile Jon and Phil came and sat with us. What a breath of fresh air! On first impressions Jon isn't far from being a model CEO. He has had many years dealing with Ashti and knows him very well. Knows the business inside out, was the person responsible for moving Maersk in to Kurdistan so knows the area well and delivered his Syrian project on time and on budget despite very difficult circumstances. I asked Jon if he had any other commitments and he stressed that Gulf Keystone Petroleum will be his only priority, his full time job and I believed he takes it very seriously and is willing to give it his full commitment. Jon intends to spend 1 week out of every month in Erbil to maintain his relationship in Kurdistan and to keep up to date and in touch with the business. Not a yacht or a blackberry to be seen! He expressed empathy for some of the positions shareholders found themselves in and without question plans to overhaul Investor Relations as well as to provide opportunities for shareholders to meet with Company Directors and Officials so that they can feel confident in the way the company is progressing and to feedback any concerns of their own that they may have. The over-arching message that came across was that this man has a conscience and as such recognises his responsibility to and has a respect for his shareholders. On the other hand that doesn't make him a push over by any stretch of the imagination. Both him and Sami are very focused, very clear, very switched-on and very driven. The Dynamic Duo. They both set out their very clear vision for the future, - explaining that every barrel of oil sold so far in 2015 has been paid for - that they continue to negotiate with the KRG regarding the outstanding money owed - that expansion plans can only be considered when arrears are paid (or a clear plan is in place showing how they will be paid) - that while the company is up for sale, they will not accept just any offer - ALL the staff that I spoke to at the AGM stressed that the asset is very good, our problems stem from a lack of payment - that they intend to wrap up sales negotiations soon so that serious interest can either make a realistic bid or if not, that the company can focus their energies directly back in to the company. - a board aligned with shareholders, holding stock of their own It was accepted that it would not be in the KRG's interest to see us fail, they too want to see Shaikan and GKP do well. From general chatter, I picked up that our peers do class Shaikan as World Class and I think it was announced on the Wednesday that Kurdistan were going ahead with selling their own oil. All in all, despite the bird poo (the share price) I couldn't help but feel optimistic and relieved that we have the makings of a team that are aligned with us, shareholders and I think / hope that this could be the start of something special! So a big THANK YOU to team SAG, The picture that was painted on Wednesday and Thursday was the vision I had hoped for when SAG started and although it's taken a long time - they do say the best things are worth waiting for! ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- After the AGM a few shareholders asked about SAG and whether they could join. Initially I said it was pretty much dormant now but on reflection I think it would be a good idea to resume. I don't think any sort of action will need to be taken now if Jon drives his team forward with the vision he has set out, but it would cause no harm for shareholders to get together with a united front and be ready to act should a need ever in the future arise. The Institutional Investors have increased their holdings recently, they have a greater say and are well organised (but also conscientious) The bondholders are organised - look how they negotiated the BER issue But yet, the retail investors, GKP's largest group of investors are haphazard. Instead of being motivated to influence any kind of positive change they vent their frustrations or make fun at each other over a bulletin board. Some private investors have invested considerable sums of money in to this stock, this is not a way to behave. If they were over charged £10 at a shop they would speak to the shop owner, and if they got nowhere, they'd write a letter - but they'd sort it out. Here people are sat on losses of tens, if not hundreds of thousands and the best they can do is vent at another shareholder or get annoyed. Time to refocus that energy in my opinion, get your energy, like your money well spent. GKP SAG have proved they can be effective, decisive and efficient (getting our resoluntion in in the short space of time we had with the challenges that we faced in getting the paperwork together was a massive acheivement by all involved. It proved dedication and commitment.) So rather than waste our energies, I have set up a new group for EVERYONE to join who wants to - gkpshareholdergroup.boards.net - I hope to see as many of you over there as possible. It's a new dawn for GKP Let's make a new dawn for GKP's shareholders.
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